Capital One Confusion, Weirdness, High Utilization.

[Anonymous]

Am I going crazy? I have 6 Capital One cards that are active right now. My last two I signed up for in March around the 7th. I could have sworn that Capital One normally sends you a due date, You pay your bill, and then they report the statement including utilization to the bureau's. Also normally they take almost 2 months to report. This morning I woke up to my credit score dropping dramatically on Experian and Transunion. I pull it up and see that Capital One reported my utilization at 80%! I couldn't believe it. A new account and 80% utilization. I just charged a bunch and was going to pay it off tomorrow. I thought I had a couple of days or weeks to pay it off, and then my utilization would report. The other card didn't even report yet, only one of them. My Experian went from 709 to 688! Good thing my Amex was approved the night before. Jeeze. I know it's only temporary, but I would have never let it report that way. Also, my other card hasn't reported and I signed up the same day. Odd. Maybe I used the card a ton? That's why?

[irunfromcredit]

I'm pretty sure they report whatever the statement balance is when your statement closes.

[Anonymous]

That's what I was confused about. No statement or due date yet.

[irunfromcredit]

Maybe your statement just closed today or overnight?  My capital statement reports pretty quickly. I will usually get the alert before I get an email that my statement is ready.  Did you check your account online if the statement cut?  

[Anonymous]

I've had cards, not just Cap1, close quickly and some took forever. It's always a guessing game. Good thing though is that utilization has no memory so it's temporary.

[delaney1]

When I got my QS I had to do a chat to find out my due date and closing date.

[BluOne]

I understand how you feel. I always pay Capital One before the cycle ends because they report when the new invoice is released.

[Anonymous]

Maybe it was a glitch with the system. That happened to me in March with one my SPG cards. It took 2.5 months for it to post but it didn't even wait until the statement cut. It just posted a utilization of $200 randomly in the middle of the month. It updated a few weeks later when the 3rd statement actually cut though. Other than that, I've never had it happen with any other new cards. 

Hopefully all is well and your scores will skyrocket back to their original values 

[RonM21]

That is strange. I've never had that issue with them. Heck, I tried to get them to do a mid cylce report and they told me they don't do that.

[NichelleN]

I also had to inquire to find out my statement date with Cap1 when I first opened the cards. I called and the rep let me know what they were going to be.