New Member
Posts: 1
Registered: ‎07-15-2007

paying down capital one credit card

i applied for a balance transfer with capital one 11 months ago. i transferred 3000.00. my credit limit is  13,000.00.  My high balance is 3000.00 on my eq report. my credit limit on my eq report is o.oo.         my current balance is 1900.00. how much will i have to pay down to to be below 10%
Posts: 76
Registered: ‎06-30-2007

Re: paying down capital one credit card

You'll have to wait until Cap One reports the "high limit" ($3,000 in your case). Then, 10% of that would be $300, so you'd have to pay off $2,000.00 Capital One apparently refuses to report the actual credit limit (I've disputed that several times and each credit bureau always reports back that the information is correct). I'm not sure if you can actually put a "notation" on the credit reports for that stating what the actual limit is. It's been my experience, that any automated system (ie, apply for credit online) will never take that into account.
Finally made it to 813
Established Member
Posts: 26
Registered: ‎06-22-2007

Re: paying down capital one credit card

Allegedly, Cap1 is going to start reporting your actual credit limit sometime later this year... September if memory serves... so that should help you out.  If it is indeed true.  Personally, I'm not holding my breath...
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007

Re: paying down capital one credit card

They said January but never did say what year. I'll believe it when I see it.

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