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That's terrible. I'm trying to improve my credit and just got a Cap1. Does anyone know if they will listen if you call them and tell them to report?
@Anonymous wrote:Here is the deal with Capital One, I have had a card with them a long time. They report the day after your statement ending date. Therefore if you have zero balance they don't generate a statement and thus they don't report. To all you people with new cards you will have to use the card and generate a balance before they report. Second, like the other poster said they have not raised by credit limit sibce I received the card many many years ago. The card I have does have decent rate of 9.95%
This is certainly 100% untrue. Statements aren't cut because of balances or the lack there of. They are on cycles. You could have 25-33 day cycles. It could be less it could be more. (thought I read somewhere online that they are starting to make them regulate statement dates, not sure how true this is). Most companies report the balance on the statement. However you could have companies like BOA who do in fact report twice some, if not all months. I have a revolving balance paid it off to 0 a few days later BOA updated with the CRA's at 0, once the trailing interest hit at 2.00, they updated it again so I had a balance of 2.00 with the CRA.
I now have two Cap One cards both at 0 balance and they report on the CRA's file as 0 balance.
Now if you don't have your reports update for a few months there could be several things wrong.
IME:
1. Most revolving debt reports monthly and usually does not play catch up like installments. EX: You can have an installment not report for several months, and then update on the 3rd month, however you may see a NR(Not reporting) or ND (No Data) for those months. I am not saying it doesn't happen, I am saying that I haven't seen it happen yet on revolving TL's.
2. If you do have some information skewed on your CR's. If for some reason, you moved and your address is no longer the same on your statements or your name isn't matching as it used to, as it is on the CRA's File this could delay an update, some companies like Chase do an address match.
Just my experience in the past.
My cap one card reports every month, but is a month minus one day behind. Example: Say my statement cuts on the 15th of July, on the 14th of July it will report what was on my June 15th statement.
Capitol One finally hit my credit reports as of today (July 31, 2010). It took right at a month to report on credit report. Hopefully I can see some score change in a couple of months. Hopefully they will report my balances correctly and not take 3 months to report correctly
Trying to get 650 by the end of the year Lets see if I can do it, or surpass it.
I was just wondering what you were doing to get your credit score so high so fast. I have been moving up slowly at 50 to 75 points a year.
thats correct I am having my capital one credit card and they report their balances every month
@Anonymous wrote:
@Anonymous wrote:Here is the deal with Capital One, I have had a card with them a long time. They report the day after your statement ending date. Therefore if you have zero balance they don't generate a statement and thus they don't report. To all you people with new cards you will have to use the card and generate a balance before they report. Second, like the other poster said they have not raised by credit limit sibce I received the card many many years ago. The card I have does have decent rate of 9.95%
This is certainly 100% untrue. Statements aren't cut because of balances or the lack there of. They are on cycles. You could have 25-33 day cycles. It could be less it could be more. (thought I read somewhere online that they are starting to make them regulate statement dates, not sure how true this is). Most companies report the balance on the statement. However you could have companies like BOA who do in fact report twice some, if not all months. I have a revolving balance paid it off to 0 a few days later BOA updated with the CRA's at 0, once the trailing interest hit at 2.00, they updated it again so I had a balance of 2.00 with the CRA.
not true. store cards will not generate a statement (& neither will my orchard card) if there is no activity on your card.