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Established Contributor
Posts: 536
Registered: ‎03-17-2010
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Cap One reporting a High Balance

I once made a $212 tranaction on my Cap One card, but payed it off in 2 days. That was about the highest dollar amount I have ever charged on this card (Cap one sucks pretty bad for me). I have another CC with Citibank which I use regularly; I usually charge around $1k a month on it and never carry a balance, but they never reported a high balance yet. Now the question is, what on earth is wrong with Cap One? they have given me all kinds of nightmare, first it was the $5.99 Credit Inform fee (i never subscribed for that service), and now this :-(

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Re: Cap One reporting a High Balance


ifinet wrote:

I once made a $212 tranaction on my Cap One card, but payed it off in 2 days. That was about the highest dollar amount I have ever charged on this card (Cap one sucks pretty bad for me). I have another CC with Citibank which I use regularly; I usually charge around $1k a month on it and never carry a balance, but they never reported a high balance yet. Now the question is, what on earth is wrong with Cap One? they have given me all kinds of nightmare, first it was the $5.99 Credit Inform fee (i never subscribed for that service), and now this :-(


 

Some lenders report the highest balance ever had, and some lenders report the highest statement balance you ever had. Some don't report "high balance" at all. As long as you have a Cap1 product that reports a credit *limit* I wouldn't worry about the high balance at all. The only exception being upon manual review for credit if your "high balance" was higher than your reported credit limit at the time. Other than that, reporting the highest balance that you've ever had, period, might even be of benefit when you're a PIFer, and you want more credit. Other lenders will see that you actually use the credit that you have, and that you can handle higher balances. Even if Cap1 didn't report the "highest balance ever", the last payment is reported, so if anyone who had a permissible purpose for viewing your credit reports really wanted to figure out, it's figured out easily enough.

 

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Established Contributor
Posts: 536
Registered: ‎03-17-2010
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Re: Cap One reporting a High Balance

Wow, thanks for such a detailed reply! That solves my problem :-)

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