Cap 1 Reporting

[Anonymous]

I just noticed on my CAP 1 - they are NOT reporting the actual payments that I make - why is this?  I make $50/mo, more than minimum - do they report what they feel like?  My interest is not a difference of $20 - it's like $15, but they are reporting that I pay $30 - almost as if I'm not even making the flipping minimum

[Anonymous]

I don't understand Capital One's practices or how they get away with it.  I've noticed they don't report your credit limit either which makes it appear that you are maxed out every month.  Is this something that should be disputed (Credit Limit & Actual Payment made) with the CRA?

[Anonymous]

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CHall wrote:

I don't understand Capital One's practices or how they get away with it.  I've noticed they don't report your credit limit either which makes it appear that you are maxed out every month.  Is this something that should be disputed (Credit Limit & Actual Payment made) with the CRA?

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They get away with it because they have absolutely no legal requirement to report your limit to the CRAs.  Technically they don't have to report anything to the CRAs, unless they find out that what they have already reported is incorrect.  Then they have a legal obligation to report the complete and accurate info.

[Anonymous]

Are any of your CCs reporting your monthly payment? None of mine are. Balance, high balance, limit and minimum.

The amount you pay to them almost isn't relevant. If included, it could created skewed perceptions. You might charge $1000 and pay $500 in one month. Next month you might charge $300 and pay $300. Amount paid doesn't really matter so long as you're meeting your minimum due.

[Anonymous]

On the CL reporting issue, I believe there is at least one lawsuit against them as we speak.

[Tuscani]

Its been rumored they will be reporting CLs by fall. We shall see.

[Anonymous]

Good input - we'll see is right.  I just thought it WAS important to show you do pay MORE than the minimum!

[Anonymous]

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Noah_Bodie wrote:

On the CL reporting issue, I believe there is at least one lawsuit against them as we speak.

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Yes, I think the argument is that by not reporting the CL, they are not providing "complete and accurate" info.  I hope CapOne loses BIG TIME.  I don't believe they will report unless they are forced to.  Why lose a competitive edge in their market?

[SoulSmilen]

If someone doesn't know Cap 1 ways and carries a very low high balance, are they out of luck with the circumventing or will Cap 1 report a higher balance amount if it increases in the future?

[smallfry]

Cap One reports to all three CRA's nearly immediately after the cut date. They only report the last payment made during the pay period. If you make two payments that period they only report the last one. My experience yours might vary.