@evil_ducky wrote:
What Creditaddict said. Your payment should be based on the minimum amount due, and if that is zero or null, then you have nothing to pay. I'm wondering if that's because Capital One didn't want to you have an owed balance under a dollar.
What I can tell you is that whatever amount is present right before the statement cuts generally is the amount billed and reported to your credit report. For optimal scoring purposes month by month, we recommend allowing 1% to 10% of your credit limit to report, though your score resets every month so you can play with that. In your case that would be anywhere from $3-$30. Less than that doesn't have much effect. If you have the need to run larger amounts through your card every month pay down the balance, multiple times if necessary, so that it shows 1-10% by the time each statement cuts. (You said that you were in the credit steps program though, so your line will be increased automatically without you having to show a lot of spend on the card.)
Thanks, I feel silly, I can't math and somehow $1 and 1% got skewed in my brain 
I guess this this was a wasted month, but at least I know now!
@l8erg8er wrote:
@evil_ducky wrote:
What Creditaddict said. Your payment should be based on the minimum amount due, and if that is zero or null, then you have nothing to pay. I'm wondering if that's because Capital One didn't want to you have an owed balance under a dollar.
What I can tell you is that whatever amount is present right before the statement cuts generally is the amount billed and reported to your credit report. For optimal scoring purposes month by month, we recommend allowing 1% to 10% of your credit limit to report, though your score resets every month so you can play with that. In your case that would be anywhere from $3-$30. Less than that doesn't have much effect. If you have the need to run larger amounts through your card every month pay down the balance, multiple times if necessary, so that it shows 1-10% by the time each statement cuts. (You said that you were in the credit steps program though, so your line will be increased automatically without you having to show a lot of spend on the card.)Thanks, I feel silly, I can't math and somehow $1 and 1% got skewed in my brain
I guess this this was a wasted month, but at least I know now!
Yep! And every month is another fresh start.
It is very common for banks to credit any balance owed if it's under 1 dollar. This is thought to be a benefit to the consumer. I'll bet your $1 was reported as such, but you can check later this month.
This "benefit" becomes a problem if you want/need a balance due. I always charge ~2 bucks on my BBRs to be safe.
you don't have to let a balance report on the card at all. Cap 1 platinium was my first card for requilding as well. I think I only let a balance report 1 time. I would charge and pay in full. I started with a 1000. credit steps poped upping me to 2500 and then after 1 year I hit the cli button and it is now at 4500.
Unless you are prepping to apply for credit there is no reason to play the utilization game. best to pay it off. If applying for credit then leave the 1-10% just to report then pay it off.
A statement generates regardless of the balance. AFIK, they're required by law? to cut a statement every month. As far as a balance for the credit steps, not necessary. They just want to see that you can manage your card responsibly, and make at least the minimum payments on time every month. Remember, your credit score is a snapshot, not an accumlation, (with the exception of AAoA, or course).
Hover over card to see limits
