Sorry this is lengthy, but this is the whole picture:
So my SO accidentally made a charge on his Cap One Plat Secured card last month right before statement cut and posted, and thankfully at the same time his credit steps completed, so he luckily got a CLI or it would have been almost 50% util, but thankfully was reported at 28% individual util. He normally allows <3% report. The account is 7 months old. The CL is now $800 after credit steps completion.
He also acquired CareCredit in August for dental work and we had to max it out, but it reported after a payment bringing the balance down to 85% util had posted and then of course Sync did a two week reporting update and reported 90% since he had used it again. We paid it down and it reported 68% individual util for this reporting period. His CL is only 1k with CareCredit.
Scores had gone down quite a bit especially in conjunction with the cap one reporting a 28% individual util and putting aggregate util at 49% for a minute, but is now down to 40% with CareCredit paid down this reporting period, and should shortly be at 21% aggregate with Cap One reporting back to normal util and further paydown of the CareCredit balance.
Anyway, point being, since CareCredit posted high util, Cap One has been SP'ing his EQ like crazy - 9 times in 3 weeks. Prior to this they only SP'd him twice. Myself only have been SP'd every 1-3 months, also.
Is this from the high individual util? Or perhaps him allowing CapOne to report a higher individual util in conjunction with the CareCredit high util and made it look like steadily escalating debt? Even with the paydowns?
Are the going to claw back his credit steps CLI?
We are going to pay down the CareCredit to 48% for the next reporting update to cross another threshold.
Last tidbit is that his Secured Disco was closed by grantor due to a disasterpiece with the 4506T, so not sure that helped, either, but it only had positive reporting for it's entire 3 months, and it had never been used, so no escalating debt there.
I just found this curious and not sure if Cap One will take AA on secured cards by slashing any unsecured portion of the limits?
Anyone had that happen? Thoughts/insight?
Maybe I am over thinking this and should just let them SP away without another thought about it?
I think you may be overthinking it.
On EX, which I follow daily, Capital One has been SP me like every single day!
It's Cap1 being Cap1 right now. They have been pruning limits on customers who haven't been utilizing their available credit. I'm sure more phases are coming. They are being cautious & proactive in general.