topic Re: Capital One Reporting CL to CRA's in Credit Cards

Capital One Reporting CL to CRA's

mrlimo — Wed, 28 May 2008 03:16:59 GMT

I know I have seen this thread in the past but for the life of me I can not find it now. I am currently having problems with my capital one no hassle miles card. The problem I am having may seem small, How do I get them to report the credit limit to the 3 CRA? As of now High ballance on the card was like $4000.00 range and has a CL of $15,000.00 I PIF every month but it still has my activity shown as the current ballance. We all know Utility should be kept between 5 - 10%. With a $2000 ballance and a $4000 line by what fico thinks it shows more around the 50% util and I keep getting a ripple effect on my fico scores from this high util. If I can get them to post the CL it would be down around the 13% and if I ask for a CLI from capital one to $20,000 + the util will be perfect sitting at or around the 10% mark.

I saw this before like I had said so if anyone has the link so I can check it out or feel free to answer here again if you dont mind. I called tonight and they said I had to write a dispute letter to Salt Lake City po box but before I dispute I wanted some true tested advice rather then a call center gil in India reading off a card.

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 03:19:50 GMT

Cap1 has been reporting CLs to the CRAs for almost 9 months now. If your card is not reporting its CL, you will need to contact them, or dispute with the CRAs (although the latter can be a risky undertaking on a good TL).

Re: Capital One Reporting CL to CRA's

mrlimo — Wed, 28 May 2008 03:30:43 GMT

As of 5/13/08 a recent pull of my TU. No Cl's were reported. I called the 1-800-955-7070 number on the card. According to the woman at the office. She told me that capital one does not report. She can send me to there service the montiors your CR's. That was useless they just wanted to sign me up to there service. Transfer me back I told that woman. Got back to Capital one differt woman and told me that the only way they will start to report it for me is if I put it in writing a dispute letter disputeing the information on the CR. I told her all the information was correct I just needed them to start reporting the CL. She said I would still explain that in my dispute letter.

So this in fact sounds somewhat correct. I have no problems writing a letter but won't that pull it from my CR for aprox 3 months while the dispute is being processed?

Thanks for the quick reply by the way....

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 03:36:18 GMT

Even on TC- is should display the CL-

You may need to click on More info-

You may want to pull your annual report-

annualcreditreport.com

Pull back door reports from TU (click dispute after logging in) and EX-

https://annualcreditreport.transunion.com/user/returnUser.jsp

https://www.experian.com/consumer/cac/InvalidateSession.do?code=DISPUTE

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 03:40:00 GMT

mrlimo wrote:

As of 5/13/08 a recent pull of my TU. No Cl's were reported. I called the 1-800-955-7070 number on the card. According to the woman at the office. She told me that capital one does not report. She can send me to there service the montiors your CR's. That was useless they just wanted to sign me up to there service. Transfer me back I told that woman. Got back to Capital one differt woman and told me that the only way they will start to report it for me is if I put it in writing a dispute letter disputeing the information on the CR. I told her all the information was correct I just needed them to start reporting the CL. She said I would still explain that in my dispute letter.

So this in fact sounds somewhat correct. I have no problems writing a letter but won't that pull it from my CR for aprox 3 months while the dispute is being processed?

Thanks for the quick reply by the way....

It won't remove it from your report for 3 months.

First, it's important to distinguish between a plain vanilla, informal complaint to the creditor that they are not reporting the way they should report vs. a formal dispute with the CRA. A complaint to the creditor is nothing more than just that. It is based on the hope that the creditor will voluntary fix their errors in the spirit of providing good customer service. Requesting this of the creditor does not affect the way your account otherwise reports unless the creditor takes it upon themselves to change the way they are reporting.

Filing a formal dispute with the CRA is another matter entirely, however. In this case, the CRA is required to investigate your dispute and resolve the matter within 30 days (although in practice this rarely involves anything more than verifying with the creditor that they are reporting the way they intend to report). During the time the account is in dispute, it will (by law) be marked as such on your credit report, and during the time it is marked as in dispute, the account will be ignored entirely by the FICO scoring algorithm, but will not be physically removed from your report during that time.

I would suggest pursuing the complaint (in writing) directly with Cap1 before initiating a dispute with the CRA. Many times, disputing one particular detail on an otherwise good account has the unintended consequence that the CRA or OC may delete the account entirely (for whatever reason).

Good luck, and let us know what you decide and what comes of it.

Re: Capital One Reporting CL to CRA's

mrlimo — Wed, 28 May 2008 03:45:50 GMT

That Tu that was pulled on 5/13/08 was from www.anualcreditreport.com I just did not click dispute at the time.

So if I am understanding correctly I should dispute with the CRA's and not really dispute with Capital One. Would it hurt to dispute on both sides of the ball or is it a bit over kill? I should have got on it sooner now 06/08 will hit soon and the ripple will continue untill July's score after the CCC. rereports to the CRA's Junes data.

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 03:49:23 GMT

mrlimo wrote:

That Tu that was pulled on 5/13/08 was from www.anualcreditreport.com I just did not click dispute at the time.

So if I am understanding correctly I should dispute with the CRA's and not really dispute with Capital One. Would it hurt to dispute on both sides of the ball or is it a bit over kill? I should have got on it sooner now 06/08 will hit soon and the ripple will continue untill July's score after the CCC. rereports to the CRA's Junes data.

Sorry if I was unclear.

My suggestion is to complain in writing to Cap1 directly. If that gets you nowhere, then you may want to dispute with the CRA, as long as you are aware of and willing to risk the unintended consequences which may result from that.

Re: Capital One Reporting CL to CRA's

mrlimo — Wed, 28 May 2008 04:02:18 GMT

Thanks, for the wisdom. I am working on the letter now to send off to capital one in the morning. I will keep anyone interested, informed with the outcome after I hear word back from them. The good part of this account it is a new account 1 year old. would not effct me other than the airline miles accumulated if something was to happen to the account over it all.

I can not keep using it the way I have it set up now, last 3 months straight now I have had drops in the EQ score set up in the watch on myfico.The only thing changing all the time is my util. as I said it is PIF but if I charge $1500 one month and $2500 the following it appears to them my balance increased by $1000 and I am near 50% util according to how they have it reporting. FICO does not see charge 1500 ,paid 1500 ,new ballance 0 ,charge 2500 ,paid 2500 ,new ballance 0 ,etc,etc,etc.

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 04:16:14 GMT

You could pay the balance or a chunk of it prior to the statement cutting-

As this is an issue with anyone that uses a big part of their CL each month even though they PIF-

Capone has been reporting CL's Sept 07 on-

FICO will use HIGH Balance if no CL is being reported-

mrlimo wrote:

Thanks, for the wisdom. I am working on the letter now to send off to capital one in the morning. I will keep anyone interested, informed with the outcome after I hear word back from them. The good part of this account it is a new account 1 year old. would not effct me other than the airline miles accumulated if something was to happen to the account over it all.

I can not keep using it the way I have it set up now, last 3 months straight now I have had drops in the EQ score set up in the watch on myfico.The only thing changing all the time is my util. as I said it is PIF but if I charge $1500 one month and $2500 the following it appears to them my balance increased by $1000 and I am near 50% util according to how they have it reporting. FICO does not see charge 1500 ,paid 1500 ,new ballance 0 ,charge 2500 ,paid 2500 ,new ballance 0 ,etc,etc,etc.

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 04:25:03 GMT

Sorry, OP, for a brief threadjack.

Congrats to Timothy on 7,000 posts!

Re: Capital One Reporting CL to CRA's

mrlimo — Wed, 28 May 2008 04:33:51 GMT

Timothy wrote:
You could pay the balance or a chunk of it prior to the statement cutting-
As this is an issue with anyone that uses a big part of their CL each month even though they PIF-

Capone has been reporting CL's Sept 07 on-

FICO will use HIGH Balance if no CL is being reported-

as this is the case with mine they are reporting the high ballance of $4000. only due to the fact I charged that much that month but PIF at the close of that month. I (1.) don't know what I would buy to take HB to 15,000 which happens to be CL and (2.) would be a bit strapped trying to PIF at the end of that cycle.
I would rather not let it accumulate and pay cap 1 any interest just to get HB up closer to CL. Would be simple if I can get them to report CL. Hopefully letter does the trick.

Re: Capital One Reporting CL to CRA's

Anonymous — Wed, 28 May 2008 04:48:13 GMT

How did this happen !!!!!!!!!!!!!!

cheddar wrote:

Sorry, OP, for a brief threadjack.

Congrats to Timothy on 7,000 posts!

Re: Capital One Reporting CL to CRA's

mrlimo — Wed, 18 Jun 2008 01:50:47 GMT

Sorry if I was unclear.

My suggestion is to complain in writing to Cap1 directly. If that gets you nowhere, then you may want to dispute with the CRA, as long as you are aware of and willing to risk the unintended consequences which may result from that.

On May 28th I did just this I wrote a letter to Capital One.

I received a letter Last week back from them:

June 7, 2008

Dear NAME:

Thanks for contacting us about your credit bureau report. After researching your account, we've:

Reported your credit limit of $XX,XXX.

We've also forwarded this information to the following credit reporting agencies so they can update your credit report:

Expierian Equifax Trans Union

Sincerely,

Capital One Services, Inc.

I pulled my reports as of June 12th and all 3 are reporting the limit now. Hopefully this will end the over util ripple I was experiencing.