topic Re: Cap 1 qs statement: utilization? in Credit Cards

Cap 1 qs statement: utilization?

Anonymous — Sat, 27 Oct 2018 13:43:25 GMT

So my first statement date is the 28th which is tomorrow. My credit limit is 2000. I recently made a payment. Right now it shows my balance as 434. However my available credit is only 663??? So I’m concerned that my utilization is going to be super high based on available credit of only 663 when my available credit should be way more than that if my credit line is 2000. So anybody with cap1 qs when it comes to your utilization do they go by statement balance or do they go by available credit or is both reported? I would have preferred the balance to be way lower than that but hey life gets in the way sometimes. Thanks in advance for anybody who can help shed light.

Re: Cap 1 qs statement: utilization?

HeavenOhio — Sat, 27 Oct 2018 15:00:09 GMT

They'll report the statement balance. When did you make the payment?

Under normal circumstances, Capital One will restore available credit within a few hours of the payment posting. Sometimes, the process is delayed by a day if a Sunday is involved. But banks have been known to wait longer to release one's credit.

Re: Cap 1 qs statement: utilization?

Anonymous — Sat, 27 Oct 2018 15:15:14 GMT

I made the payment yesterday Friday 10-26

Re: Cap 1 qs statement: utilization?

Anonymous — Sat, 27 Oct 2018 18:34:10 GMT

Utilization is calculated using your statement balance divided by total CL, not your available CL. Available CL only affects how much is available for you to spend at the moment.

Re: Cap 1 qs statement: utilization?

Shooting-For-800 — Sun, 28 Oct 2018 00:47:08 GMT

statement balance after cleared transactions.

regardless, utilation changes monthly, so it really only matters when you are appying for new credit.

if you pay down your card to 0 before the next statement, your next cr with be 0 utlization.

there is no real history tracking.

GL!

Re: Cap 1 qs statement: utilization?

blindambition — Sun, 28 Oct 2018 00:55:43 GMT

You may have checked while backend was updating. Cap One is prompt with updating account info. However, while payment will post prompt and accurate... I have seen available not update until next morning.

Re: Cap 1 qs statement: utilization?

HeavenOhio — Mon, 29 Oct 2018 10:04:01 GMT

@Anonymous, have your payment and available credit caught up yet?