Cap1 now reporting cl's?

[Anonymous]

I have 3 Cap1 cards, and as per CR's, Cap1 doesn't report cl's. This makes my utilization ratio skyrocket doesn't it??? Which in turns, hurts my FICO scores. BUT....I think I read something somewhere on this forum, that Cap1 is now beginning to report cl's. Is this true? When are they going to implement that? Gosh, I hope so, because my utils will drop like a lead balloon(if I understand how utils work) Thanks myFiCO!

[Anonymous]

All should show limits by end of month.

[Anonymous]

Thanks Brammy! Are my assumptions correct in saying, as they do report cl's then the utils will drop? Which in turns helps the FICO scores?

[Anonymous]

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Sylviatob wrote:
Thanks Brammy! Are my assumptions correct in saying, as they do report cl's then the utils will drop? Which in turns helps the FICO scores?

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Depending on wha your current uitilization and previous high balance was yes.  If you had ever run the card up close to the limit, then FICO would have substituted your highbalance for your credit limit.  Otherwise,if you've kept a relatively low limit on the card the limits reporting will definitely be a boost depending on the percentage of utillization overall.

Message Edited by Brammy on 09-25-2007 11:26 AM

[Anonymous]

Thanks again for such a prompt reply. You've answered my question totally. Thanks myFiCO!