@Anonymous wrote:Hi All,
I just applied for capital 1's quick silver one coule weeks ago with a $500 CL. I've been using it all the time so that they can see my heavy usage and possibly give me some CLI in couple months. However, my statement date and due date wasn't posted until today. And I just noticed that my statement date was yesterday, the 6th. I had about $400 credit. Will the nearly 80% credit ultilization being reported? If so, this is really unfair because they told me the statement date AFTER it passed. I would have paid everything off if I knew it ahead. I always tried to pay off my credit card before the closing date and so far my credit ultilization is 0%. I called capital one 30 minutes ago and the rep told me that they won't report credit info until the 10th. So he said as long as I paid it now, it shouldn't be reported but he was not 100% sure. I just paid $400. But I'm still concerd whether they would report my high credit ultilization or not? Thanks!
Cap-1 will report the statement balance. I wouldnt worry about it, its below 90% which would be a major hit to fico as a maxed out card. Now that you know the date you will be able to control what you want to report.
@Anonymous wrote:Thanks for your replies. I was suggested to alwasy keep my credit ultilization under 30% in order to have a good record. But with situations like this, I can't really control anything? I guess this would be a huge disadvantage for having a low CL - everyone can easily spend few hundred dollars in couple weeks and that's a huge portion of a $500 limite. So I guess my credit ultilization will always be at least 80% from now on?
Yeah, this one was out of your control, because it's impossible for us to guess when that first statement will cut (except for Amex, they make it easy). Don't worry about it, it's happened to most of us before 
@Anonymous wrote:Thank you, that made me feel better. So in the future, if I pay everything off on time, will the ultilization go down?
Utilization is based on the percentage of your credit limit used at the time of the report, so so if you pay the card on the day before Capital One reports and don't charge anything else on the card until after it reports, then you'd have 0 utilization. Otherwise, you can manage it by paying off some of your bialance before it reports so utilization shown is whatever percentage you like.
The good news is utilization has no memory, so if you have 90% uilization one month and your credit scores plummet, having 10% utilization the next month will bring your scores right back up. 