Beyond frustrated with Capital One

[tammyjk]

I have just the opposite problem with them.  I make sure to make my payments before the statement date and leave a small balance as well.  On 5/3 they reported my balance as 5.00 so tonight I made a 50 dollar purchase.  Before I even got home, they had reported the purchase to the credit agencies!  Since I am in the process of buying a home and need all the credit for payments I can get, I will only use them to make a 10 dollar purchase and pay off 5 of it each month.  When I finally close on this home, the card is history!  The 3 points it lowered my score is not that big of a deal but now it's the principle of the matter with me.  And to think I considered upgrading the card as well....NOT.

[android01]

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@tammyjk wrote:

I have just the opposite problem with them.  I make sure to make my payments before the statement date and leave a small balance as well.  On 5/3 they reported my balance as 5.00 so tonight I made a 50 dollar purchase.  Before I even got home, they had reported the purchase to the credit agencies!  Since I am in the process of buying a home and need all the credit for payments I can get, I will only use them to make a 10 dollar purchase and pay off 5 of it each month.  When I finally close on this home, the card is history!  The 3 points it lowered my score is not that big of a deal but now it's the principle of the matter with me.  And to think I considered upgrading the card as well....NO

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@tammyjk wrote:

I have just the opposite problem with them.  I make sure to make my payments before the statement date and leave a small balance as well.  On 5/3 they reported my balance as 5.00 so tonight I made a 50 dollar purchase.  Before I even got home, they had reported the purchase to the credit agencies!  Since I am in the process of buying a home and need all the credit for payments I can get, I will only use them to make a 10 dollar purchase and pay off 5 of it each month.  When I finally close on this home, the card is history!  The 3 points it lowered my score is not that big of a deal but now it's the principle of the matter with me.  And to think I considered upgrading the card as well....NOT.

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That's the first time I've ever heard of "real time" credit reporting.  

[tammyjk]

Pretty scarey...the real time update.  But I am very careful to watch my statement dates and sure to have low balances at that time.  But here is the rundown....

05/03  report to all the CB 5.00 balance

on 05/08  make a payment for 5.00

05/09 make a purchase for 33.50

05/13 make a purchase for 50.00....purchase still pending not showing in balance.

05/13 report 50.00 to CB

As of this am my balance is still 33.50 yet they reported 50.00.  I contacted them and they gave me the whole "we report once a month" mantra.  Then I pasted my copy of transunion balances and report dates in the chat.  Finally, the agent said "obviously there has been a mistake".  We will investigate blah blah.  

Bottom line:  If you try to keep your ratios low, don't use Captiol One for anything.  That reporting cost me 3 points on my score, which normally isnt a big deal but that 3 points was getting me a lower interest rate on the mortgage I applied for.  Luckily, I have 3 or 4 more cards that have yet to report this month and hopefully that will bring it back up and then some.  As I said, I will use it once a month for 10 bucks and thats it.  Make my 5 dollar payment and close this account when my mortgage is finished. 

[bichonmom]

I had that happen once with Walmart, shortly after I opened my acct., but it only happened the one time. Fortunately they haven't done it again. I also called at the time and got nowhere with cs. I'd suggest that you offer to PIF online and ask them to immediately update your cr, but wouldn't count on the follow-thru with them. You can ask for some kind of instant thing when you're in the process of a mortgage. I can't recall what it's called-- rapid rescore, I think. Maybe that would help.

[Anonymous]

That is strange, mine reported pretty quickly before my bill was even due. 

[JenniferinFL]

My Capital One just reported a few days ago, it posted 2 weeks after my second statement. I've had a couple new accounts post after the first statement, but, most seem to post after the second statement.

[tammyjk]

Oh this gets even better!  Yesterday I got a letter saying the 50 dollars I charged was in dispute.....  So I called customer service and got someone I could hardly understand in Manila.  I ask to be transferred to a US call center.  After about 30 mins the rep concluded that the balance should have been reported as 5.00 not 50.00.  Transunion reported 5.00 right away, Eq. reported 50 as did EX two weeks later.  He thinks it may have just posted at the same time I made my purchase, don't know if I buy that one or not but....It took me over an hour to get the dispute removed.  They said they would correct the CB in 30-90 days LOL.  I reminded the rep that the balance will report, hopefully correctly in 20 days anyway, why bother.  The ding to my credit report remains but I have paid down other balances to overcome that. I hope!

Lesson learned:  ALWAYS ask for a US call center.