Author Topic: CO OnePass credit card 50K SIGNUP BONUS (Read 139681 times)

elig770 · « **Reply #380 on:** April 01, 2011, 11:22:14 AM »

Quote from: smurf on April 01, 2011, 11:19:15 AM

i thought about doing that but wouldn't that put my account at %100 usage.Also if you don't have too many other credit cards your overall usage will go up too.

No matter what you spend, $1 or $10,000, in the 1st month you will be reported as using 100% of your credit line.

Cholentfresser · « **Reply #381 on:** April 01, 2011, 11:25:06 AM »

right now anytime u spend more then what you've spent before, you r using 100% of your limit, bc what u spend becomes your 'new' limit, so if u spend a large amount then that will be your new limit.
either way, I think its time for me to close (and churn) this card, there's no limit being reported so how bad can it be if I close it?

elikay · « **Reply #382 on:** April 01, 2011, 11:25:56 AM »

It has been discussed in these forums and elsewhere, it is not clear how these accounts are measured by FICO although some credit reports do post the high balance as limit.

smurf · « **Reply #383 on:** April 01, 2011, 11:28:36 AM »

Quote from: elig770 on April 01, 2011, 11:22:14 AM

No matter what you spend, $1 or $10,000, in the 1st month you will be reported as using 100% of your credit line.

true but I only realized that they dont report the limit after my statement closed,and I was just saying that it might not be worth it to max it out again especially if it would cause your overall usage to go up a lot.But cholent is right in the long run its worth it but it might be a problem for those who plan on applying for something soon.

Dan · « **Reply #384 on:** April 01, 2011, 11:34:28 AM »

Quote from: smurf on April 01, 2011, 11:28:36 AM

But cholent is right in the long run its worth it but it might be a problem for those who plan on applying for something soon.

+1
Also Chase will definitely yank back the miles after a return.

elig770 · « **Reply #385 on:** April 01, 2011, 11:34:59 AM »

Yea me too. Only finding this out last night I closed two statements with minimal purchases so the 1st month came up as 100% usage and then the 2nd month did too since I spent more than the 1st month... Time to just close it and try to get chase to downgrade me to a free card and hopefully that will report the true credit line.

Bp · « **Reply #386 on:** April 01, 2011, 11:44:21 AM »

If I want to churn this card. do I need to close it for 30 days then apply? Or I can just downgrade it to a different card then reapply after 30 days?

elig770 · « **Reply #387 on:** April 01, 2011, 11:49:10 AM »

I'm pretty sure downgrading is the same thing as closing just you don't lose you credit line.

Cholentfresser · « **Reply #388 on:** April 01, 2011, 11:50:21 AM »

but in this case I don't there'd be a difference becasue they're not reporting the credit line anyway

elig770 · « **Reply #389 on:** April 01, 2011, 11:52:40 AM »

Well you won't lose anything, but you can gain a credit line possibly without an inquiry on your credit report

Bp · « **Reply #390 on:** April 01, 2011, 11:52:45 AM »

@Cholentfresser:
It this case you can only win because if you downgrade the other card Will report the limits,

BTW what's chase best free card to try to. Downgrade to??

myb821 · « **Reply #391 on:** April 01, 2011, 12:20:21 PM »

Quote from: elig770 on April 01, 2011, 11:49:10 AM

I'm pretty sure downgrading is the same thing as closing just you don't lose you credit line.

is there anything bad about keeping open a credit card that u never even put 1 charge on?

smurf · « **Reply #392 on:** April 01, 2011, 12:27:08 PM »

What's chase best free card?also do they still let you combine limits? If yes maybe I'll just transfer the credit to my amazon rewards card,its a pretty decent card

elikay · « **Reply #393 on:** April 01, 2011, 02:02:39 PM »

officially thay won't let you downgrade a rewards card.

smurf · « **Reply #394 on:** April 01, 2011, 02:25:36 PM »

@elikay
Now that you mention it I remember I once tried to change my amamzon card and they said they can't.apparently they'll ony switch cards that aren't cobranded.

myb821 · « **Reply #395 on:** April 01, 2011, 02:26:22 PM »

anyone know about keeping open cards that u dont even put one purchase on

smurf · « **Reply #396 on:** April 01, 2011, 02:29:07 PM »

I had a store card that I never used eventually they just closed the account

myb821 · « **Reply #397 on:** April 01, 2011, 02:34:30 PM »

Quote from: smurf on April 01, 2011, 02:29:07 PM

I had a store card that I never used eventually they just closed the account

does that show as closed by creditor and look really bad on ur credit score

Avid Reader · « **Reply #398 on:** April 01, 2011, 03:06:17 PM »

Quote from: myb821 on April 01, 2011, 02:34:30 PM

does that show as closed by creditor and look really bad on ur credit score

Some yes, some no. It's bad, but not that bad. Best thing is to make a small charge every six months or so to keep it from closing.

scwam · « **Reply #399 on:** April 01, 2011, 04:03:43 PM »

I want to apply again for this offer around April 25th. Closed my old CO account 1/12. Other than making a new FF number to bypass the previous cardholder screening, what else should I be aware lf I am to minimize my chance of the previous cardholder denial? I have the option to use university computers (side by side) as well.