They way I understand it is the CRA will use your high balance as your CL. If you have never charged more than 1500 on the one card you are at 100% UTL -- Very Bad. Having the Cl reported right will lower your UTL --- Good thing.
I have read here that Cap 1 will start reporting CL soon.
It should be good for your score to have correct Cl reported.
Hope this makes sence (or cents) ? ---cool play on words huh?