Thanks for Nothing Capital One

[Creditworthiness]

CapitalOne finally reported the tradeline for my new CapitalOne QuicksilverOne which I activated back in December.  The card has a 3.5k limit but instead, CapOne is reporting "high credit" as the limit -- i.e., whatever the highest amount I charge is what will be reported for the card.  Currently the high credit entry is blank (possibly because I've been paying in full and high credit refers to highest balance?).  Not only that, they are showing a current balance of $451 but I have been paying in full at every paycheck so should they even be showing a balance?  I like the 1.5% cashback on everything but if this card is not going to help my credit, I'll cancel.  What do the more seasoned folks think?

[SunriseEarth]

I'd recommend calling the EO to see if reporting can be corrected

[PaBill]

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@Creditworthiness wrote:

CapitalOne finally reported the tradeline for my new CapitalOne QuicksilverOne which I activated back in December.  The card has a 3.5k limit but instead, CapOne is reporting "high credit" as the limit -- i.e., whatever the highest amount I charge is what will be reported for the card.  Currently the high credit entry is blank (possibly because I've been paying in full and high credit refers to highest balance?).  Not only that, they are showing a current balance of $451 but I have been paying in full at every paycheck so should they even be showing a balance?  I like the 1.5% cashback on everything but if this card is not going to help my credit, I'll cancel.  What do the more seasoned folks think?

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They are going to report whatever your balance is on your statement date.  If you want to show a zero balance, you have to PIF right before the statement date.

[newmomnewme]

+1 and if you are going to call the EO for anything, you may want to ask about converting to the QS without the fee.

[notfancy]

Using the EO is premature at this point. The account is only 2 months old. If too many people abuse the EO route, I think they'd start being as crummy as their regular CS department.

It's best just to be careful with spending, and pay attention to the statement dates and make sure the account is paid in full before the statement cuts, That is pretty easy with Cap 1 since they tell you exactly when that statement date is.

Though, as far as the high credit limit goes.. I had that same issue before and disputed it because it looked like I went over my credit limit (which I didn't) and it hurt my score. It never actually got fixed but it reports accurately now and I don't often carry much of a balance, and my credit limit is reporting accurately these days.

[Creditworthiness]

Right, I was surprised because the limit on my Cap One Platinum card is reported properly.

[Creditaddict]

I believe all capital one cards report limit... even my partners $15k sigi reports limit... what report did you access to see this information? Sometimes you may not be getting a full report and only see your high balance like in this case but on a full report it will show, limit, high balance, payment, etc.

[Creditworthiness]

Admittedly, this was just an alert I received from Equifax Credit Monitoring telling me that a new account had been added to my file.  But it showed all the details, notes etc. so I think it is accurate.

[B335is]

Give it a month, if it isn't corrected, send a secure message.  If it's keeping you up tonight, send a message sooner.  As others said, contacting the EO may be premature at this point, but we all have our priorities, so that's a decision you should make.

[Creditaddict]

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@Creditworthiness wrote:

Admittedly, this was just an alert I received from Equifax Credit Monitoring telling me that a new account had been added to my file.  But it showed all the details, notes etc. so I think it is accurate.

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id pull a full report before you go contacting anyone.