Quick Score Change-Capital One

[BSBRose21]

I have a credit card with a limit of $300 that is maxed out. I have paid the balance in full today, but am looking to buy a car in the next couple weeks. Capital One said they don't know when they report to the credit bureaus.  Any help with this to expedite the score?

[cdtotten]

Most credit card companies report on the day the statement cuts, but some like HSBC report at the end of the month. If they are unwilling to tell you, the easiest way to find the date is simply by looking at the "reported on" date on a credit report and that should tell you.

[llecs]

Yep, generally the reported date is at or near your statement date and will report whatever balance you had on that date.

[BSBRose21]

It just says 8/2009.  I thought you might be able to ask the finance company to do it, etc.

[Anonymous]

Dispute the balance throught the bureaus.  I disputed my Cap One balance 2 weeks ago because I wanted to qualify for a mortgage.  It was updated on all 3 in only 3 days.

[llecs]

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StartingSlow wrote:
Dispute the balance throught the bureaus.  I disputed my Cap One balance 2 weeks ago because I wanted to qualify for a mortgage.  It was updated on all 3 in only 3 days.

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Not the best practice. Some OCs may opt to delete rather than update the balance. If that TL is helping, then OP could lose points. Also, some lenders have been known to deny a loan if they see a recent dispute on record. On a rare few occasions, or at least mentioned by others here, the creditor may opt to close the TL and delete.

While like disputing, rapid rescore may be a better option if you can't wait and would be done via the blessing of the lender.

[Anonymous]

Do you run this risk of an adverse action when you do this?

Just wondering if this is a better way to get a quick update when pressed for time.

Wouldn't the CCC just tell the CRA that the balance is correct as of the last statement date. How does this get your balance updated faster?

[BSBRose21]

 I did do this in the past for my mortgage. Capital One seems to always want to stay reported to the credit bureaus-good or bad. And no, they will report your current balance, not your statement balance.  I was just hoping I wouldn't have to do this again since they did not update for almost a month.

[Anonymous]

llecs,

Why would a creditor close the TL and delete if you are just disputing the balance?

And I was approved even though I did this.  I wish some creditors would be so easy to delete.  Like my CO with Chase.

[Anonymous]

Just found one old credit report where they updated on the first of the month. The rest just had month and year. Hope this helps.