lmasden74

3 Contributions 327 People Helped

Member Since: September 2008

Most Helpful Contribution

Credit card utilization and your credit score

Aug 15, 2014
Helpful to 318 out of 345 people

   I have had a Capitol One card for 2 years now. I use it to pay several of my bills, and 95% of all other purchases;. I have only had a $0 balance twice in the last year. Yet, I have paid $0 in interest, and have cashed in over $100 in rebate credit this year. That means they have paid me over $100 to use their card. 

   I do this, because I make a payment every week. The rule is: Every purchase has a grace period until the due date following the 25 day minimum . So as long as no 1 purchase makes it to its due date, there is no interest. Basically, I average $1000/mo in transactions, so I pay them $250/wk. This means I always have a balance to report, but I never pay interest. They have also, increased my credit limit twice in 2 years.

   I also have a Chase card that I quit using, so they lowered my limit and increased my interest rate. So, for that card, I started using it for my netflix bill. I let it sit for a month so they could charge me interest on $8. Then I paid my balance minus $5 every time my card was billed. After I cancelled Netflix, I started making one purchase per month, and I pay all but $10-25. I let them charge me interest on that. Then, I use it again and repeat. They have increased my limit again, and always report a balance. It cost me about $10/yr in interest. 

Activity (3 Total Contributions)

Credit card utilization and your credit score

Aug 15, 2014
Helpful to 318 out of 345 people

   I have had a Capitol One card for 2 years now. I use it to pay several of my bills, and 95% of all other purchases;. I have only had a $0 balance twice in the last year. Yet, I have paid $0 in interest, and have cashed in over $100 in rebate credit this year. That means they have paid me over $100 to use their card. 

   I do this, because I make a payment every week. The rule is: Every purchase has a grace period until the due date following the 25 day minimum . So as long as no 1 purchase makes it to its due date, there is no interest. Basically, I average $1000/mo in transactions, so I pay them $250/wk. This means I always have a balance to report, but I never pay interest. They have also, increased my credit limit twice in 2 years.

   I also have a Chase card that I quit using, so they lowered my limit and increased my interest rate. So, for that card, I started using it for my netflix bill. I let it sit for a month so they could charge me interest on $8. Then I paid my balance minus $5 every time my card was billed. After I cancelled Netflix, I started making one purchase per month, and I pay all but $10-25. I let them charge me interest on that. Then, I use it again and repeat. They have increased my limit again, and always report a balance. It cost me about $10/yr in interest. 

Credit card utilization and your credit score

Aug 15, 2014
Helpful to 9 out of 9 people

   I have had a Capitol One card for 2 years now. I use it to pay several of my bills, and 95% of all other purchases;. I have only had a $0 balance twice in the last year. Yet, I have paid $0 in interest, and have cashed in over $100 in rebate credit this year. That means they have paid me over $100 to use their card. 

   I do this, because I make a payment every week. The rule is: Every purchase has a grace period until the due date following the 25 day minimum . So as long as no 1 purchase makes it to its due date, there is no interest. Basically, I average $1000/mo in transactions, so I pay them $250/wk. This means I always have a balance to report, but I never pay interest. They have also, increased my credit limit twice in 2 years.

   I also have a Chase card that I quit using, so they lowered my limit and increased my interest rate. So, for that card, I started using it for my netflix bill. I let it sit for a month so they could charge me interest on $8. Then I paid my balance minus $5 every time my card was billed. After I cancelled Netflix, I started making one purchase per month, and I pay all but $10-25. I let them charge me interest on that. Then, I use it again and repeat. They have increased my limit again, and always report a balance. It cost me about $10/yr in interest. 

Capital One® Rewards No Hassle(SM) Cash Credit Card - EXPIRED OFFER

Sep 12, 2008

I'm disappointed in myself. I should have read the comments before applying. I have been getting "Pre-approved" mailings from them since I had a score of 650, now I have a score of 683 and was turned down. I'm just glad that search disappears after 60 days.