Cap One Frustration

[woodsie1]

I am beyond frustrated right now. I recently activated my quicksilver on 7/13/15. I have been using it heavily. And I already made a payment towards it. I was going to make another payment today, but I woke up this morning and saw that a statement had already been cut, yesterday. Now I'm worried that my CR will show 50% UTI on this card. Is this normal? I didn't realize the statement would cut so soon. I haven't even had the card for a month. Maybe I'm naïve but I thought I had a bit more time. Any advice on how to rectify this, or am I screwed for this month?

[GoldSorata]

Unless you were planning to app for something this month, don't worry about it. You are planning to pay it down anyway and next month your util would be back down.

[Anonymous]

Don't lose sleep over it. Like previous poster said, it will clear next month when you pay. Utilization has no memory.

[Anonymous]

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@GoldSorata wrote:

Unless you were planning to app for something this month, don't worry about it. You are planning to pay it down anyway and next month your util would be back down.

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Exactly.  Far too many of us worry about balances reporting.  It's a temporary at worse effect on your credit score.  Don't get frustrated or lose any sleep over it.

[woodsie1]

Thank you guys for your reassurance. This forum always have a way of calming nerves lol.

[NRB525]

Should not be an issue, but update this thread with what the change in score is (if anything).

[kdm31091]

Yes it's not worth worrying about (and there's nothing you can do about it anyway). Once you pay it down, and the new util reports next month, all will be well

[Anonymous]

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@woodsie1 wrote:

 I didn't realize the statement would cut so soon. I haven't even had the card for a month. Maybe I'm naïve but I thought I had a bit more time. Any advice on how to rectify this, or am I screwed for this month?

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Well you're in luck.  Your balance probably won't report until September.

Cap1 is usually very slow at reporting new credit cards for the first time.  My new Cap1's usually don't show up on my Credit Report for 2 months

[Anonymous]

For future reference,  when you get a new credit card, don't charge it up right away until you see when the statement closing date is. With Macy's and Bloomingdale's it is 2 days after you open the card. Just keep it under 25% of the balance. 

[Anonymous]

Like others said no need to worry