Myth of Fact Capital One

[randaljon]

Is this just an old myth I came across online? Capital One reports that their credit cardholders use 100 percent of balance to the CRAs regardless of fact?

[Wolf3]

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@randallcred wrote:

Is this just an old myth I came across online? Capital One reports that their credit cardholders use 100 percent of balance to the CRAs regardless of fact?

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I believe it is an old fact.   I think they lost a big lawsuit over this practice sveral years back.  They don't do it anymore.  

[vish1]

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@randallcred wrote:

Is this just an old myth I came across online? Capital One reports that their credit cardholders use 100 percent of balance to the CRAs regardless of fact?

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It's an old fact but it's not as harsh or as complicated as you mention.

The deal AFAIK was that they won't report your CL, only the balance and high balance so if your usage is similar every month, you will always look like maxed out, but if you once carried a lot of balance, then paid off, your subsequent CRs would be better.

Anyway, they fixed it sometime back so no issues on this anymore.

[randaljon]

That's good to know. Since I have a brand new Cap One MC. Thanks for responding!