May be Capitol One bank is not going to go bankrupt. One has to know about how much a bank has oversold itself in mortgage business and how much does it possess in non-mortgage assets to avoid bankruptcy.
I work for the Capital One and although they are affected by this mortgage crisis (so is any bank or lending institution), their main source of income is credit cards as they used to be a CC company only and purchased the banks recently. I think they'll be in good shape.
Pyari No, Capital One is not in CA yet but they are looking into expanding into CA and FL.
^ Ya we don’t have capital one…so for right now it would be a hassle to make transactions.
What do u guys think of Washington Mutual? I saw on jdpowers.com that it has good ratings…esp in the west. Wells Fargo and BOA haven’t heard good stuff about but they are convenient…
My second choice would be Washington Mutual. Not sure how the banks are, but I love their credit card. That's the only card that tracks/shows my credit score. Too bad I don't use their card only because Capital One Visa gives me 1.25 points per dollar spent. So I use that for all purchases. Anyway, I am pretty sure that it's a great bank.
I use both Wachovia and Washington Mutual, both are top notch in my book. Washington Mutual is little bit up to the mark with online bill pay, transferring money from one account to another (within wamu and externally) and some more features which wachovia lacks but good nonetheless.
As Shikra said, WaMu's credit card allows you to track your FICO credit score, which always helps to see where you stand as far as credit worthiness is concerned.
Glad that you asked because in January it was 819 but now I just checked, it has come down to 779. I am thinking that’s because my profile got too many hits because I moved, applied for financing, and a credit card. I think that brought it down.
I am still thinking why the heck mine came down. It came down to 788 in February and then it dropped to 779 in March. I don't remember anything that happened in March. Apt. people hit my profile in January and Financing & credit cards were done in February. Oh well, it's not like I am going to go buy a house tomorrow :D
Yeah, no plans for house here as well, even though I am itching to buy one (foreclosed homes all over the place). It would be interesting to see how it comes back up (and which figure it hits) after I pay that balance off in next few months.
oh yikes. i closed down one of my store credit cards b/c even though i had paid my bill, my credit limit became zero (cz i paid it late) and wud stay that way for a few months…so i got sick of hte hassle and just had it closed. i wonder what my score is :hinna:
Well according to my Prof, you should keep the card inactive for 7 years and after 7 years close the account. Then it won't effect your account. If you think you might end up using it then just cut the card into two. :)
Anyway, your credit score won't go too down by canceling just one credit card.
Oh and your bad credit is wiped out every 14 years.
It doesn't comes down by getting a new card but comes down by closing one.
I don't think that's true because I canceled my cards more than a year ago when I purchased a new wallet and I had to throw away the ones I didn't use. My score was fine back then, in fact it kept climbing up until January. I believe it came down because there may have been many hits in a short period of time. Then the credit report people get worried thinking why this dude is getting so many hits.
Shikra bhai: Didn't you just get an apt??? Maybe thats why ur score could have dropped right?
That's what I am thinking. Apt. + new credit card ($7,000 limit - cards look at it as a liability) and plus financing in the amount of $4,000.
JL If I hadn't moved recently and knew the area well, I would've bought a house as this is the best time to do so, rates are coming down and prices are falling. Inshallah I'll buy one next year after my lease is up. Economy will take some time bouncing back up and I should be fine.
because in January it was 819 but now I just checked, it has come down to 779. I am thinking that’s because my profile got too many hits because I moved, applied for financing, and a credit card. I think that brought it down.
