Chances are Capital 1 when they reported, they reported your credit limit on the account. They have been notorious for not reporting the credit limit on the account, hence, the credit limit becomes the balance, hence, you are max out. Effective August 1, 2007 Capital 1 began reporting creditl limits due to the flack they were getting from consumers.
If you have a before and after credit report, look and see if you see a credit limit now showing. Not only would this increase your Utlization Ratio (Credit Balance to Credit Limit) but would also increase your total amount owed for all revolving accounts to total credit limits, subsequently increasing your credit score.
