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Contributor
Lawlover2
Posts: 81
Registered: ‎10-05-2007

Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO

I just got a Cap1 card last month (early November) with a 3,000 CL.  I had originally read (here) that they were reporting only your high balance so, I charged it up and have been paying it off as I charge.  I contacted Cap1 and asked for an explanation of what balance would be reported when and the guy I spoke with said it would report the balance on the 18th (statement date) and I just wanted to cry b/c my balance was like $1,800 on the 18th b/c I didn't pay until the 20th.  I just pulled my reports today, and there still isn't anything on them - they aren't even showing the account!  Can someone please explain what date they pull your balance from and when they report.  Oh, and also, whether Cap1 is now reporting your true CL regardless of high balance?  Thanks!!!!  I'm so close to 700 now and I don't want to ruin it!

 

Regular Contributor
wcnghj
Posts: 150
Registered: ‎11-09-2008

Re: Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO

I am not sure when they report, but just pay down the balence and ask them to re-report for the month. Just say you are applying for a mortage and you need the most updated info.

 

If the high balence is only on for a month it'll only harm your Credit Score for a month.

04/2009
TU:745
EQ:764

10/2008
TU: 708
EQ: 708
EX:707
Valued Member
briandor
Posts: 36
Registered: ‎07-05-2007

Re: Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO

Cap1 is now reporting your credit limit.  That being said they don't seem to be reporting over the limit (I know, I've been bad).  They report about a week after you statement close every month and they report the balance reported on your statement.  As wcnghj (how do you pronounce that) said if you pay it down the next month the score will be right back up.
Contributor
Lawlover2
Posts: 81
Registered: ‎10-05-2007

Re: Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO

Thanks.  So, I need to have it to 7% (that is the only cc I am using) on the 18th - it will then report that about a week later?  Wonder why it hasn't reported yet?  I know my scores will recover, but I am in the new car market . . .
Community Leader
Senior Contributor
laz98
Posts: 4,275
Registered: ‎09-06-2008

Re: Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO

my cap1 card took about 8 weeks to report.
Latest scores: Walmart TU: 766. MyFICO TU: ---. DCU EQ: 741. PSECU EX: 756.
Frequent Contributor
Jubeyy
Posts: 258
Registered: ‎06-03-2008

Re: Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO


briandor wrote:
Cap1 is now reporting your credit limit.  
When did they start this?

 

Frequent Contributor
Jubeyy
Posts: 258
Registered: ‎06-03-2008

Re: Someone Please Explain Cap1 Reporting to Me Before I Ruin my New, Higher FICO

Cap 1 just reported my balance AND limit on Nov. 10th. to EX

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