I have a cap one card that is currently maxed out. Since cap one does not post a limit on your CR does this card being maxed out factor into my debt ratio? If so, and they dont know the available limit how can they know that I'm usually 100% of this credit. 2nd In my budgeting I have enough to pay off my whopping $200 balance but should I or is it better to apply this $ towards another card that does report limits?
The CRA just uses you're high credit when figuring you're utilitization. So even if you're limit was $1,000, and you had a $200 balance, it would appear that you are maxed out if you have never had a balance higher than $200.
It's never good to be maxed out on any card. Pay it down in chunks. At least now, it WILL report your CL. What I mean by this is: Since CapOne doesn't report limits, it DOES kill your debt-to-limit ratios because it always looks like you're maxed out. So what people do is charge it up close to the limit, pay it down and stay below. When it posts your "high limit" vs. how much you owe, you'll have your true debt-to-limit ratio.
I had an account that did not report the Credit Limit to the CRA's. I wrote them and asked them to set a Credit Limit (it was a revolving department store charge who said "oh, it's just whatever you use"), without pulling CR. They set $500.00 and not only did it show up on my next CR, they also sent me a letter confirming same to keep in my files along with an apology for any inconvenience.
