Capital One reporting practice

RE: Capital One reporting prac

Saar,

I had a similar problem. When I contacted Cap 1 to ask them to report my limit, I received a letter stating that they report the "High Credit Amount, which is the highest you balance has reached at a given time since the account was opened. We do not report the credit limit." My plan was to carefully run up the balance to the limit (with out going over) and then keep a small balance. I think that should correct the problem. Other than that I have had no problems with cap 1. They have been great. Does anyone think this idea will work?

Saar wrote:
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My Capital 1 Visa is reported to the bureaus as carrying zero "high credit" (=Credit limit). This is the only U.S. card I currently have. Credit limit is $1000.

Reading a previous post of Doris, I realize this is a policy, not an error.

After reviewing my application for a store card (Target), it was denied for the following reason:

"Your credit bureau report indicates a high ratio of debt to available credit".

Reading that paying off every month is not the best way to build credit, I'm used to leaving about $20 revolving.

Guess what? Since my revolving credit is higher than my REPORTED credit limit, even a $20 revolving balance is seen as a high ratio of debt-to-available credit.

Comments or descriptions of similar instaces will be appreciated.


Saar