Way to get Cap 1 to report limits?

This has been an issue for some time. I think they have a lawsuit on them now (they did as of July, 2006) but I'm not sure if the reporting limit was at issue with that suit (I think it was, but not 100% sure).

For now, most are say to max out the card (but be careful not to go over - I would use all but about $50), then before the due date for the payment, pay it all off. Cap 1 will report that high balance, which is about as close as you can get to having a limit reported. But only do this when you know for sure you will pay it all off (to a zero balance or to within a low utilization amount. The utilization amount recommendations seem to vary, so I try to use a safe number, like under 10%. Truth is I like to keep it at zero as much as possible, and I want to sock drawer that card as soon as I have other options).

You have to do this carefully. You don't want to have fees or late payments. Don't max completely, just to be sure that you don't get caught going over with fees, etc. And allow the balance to remain for a short time, so that it gets reported, but pay it off 100% BEFORE the due date. After that, use normally.

Good Luck.

 

I would never go as close as $50.

You want to be at least an interest charge and late fee away, to make sure you don't go over limit. That is assuming you never make any mistakes, don't carry it so you could not have charged anything, and never use it for monthly preauthorized charges. I never go closer than $500 to CL.

 

Ontrack, keep in mind some may not have that kind credit limit - I am one. My Cap card only has a limit of $500.

I have done this, I have maxed it out, but saving a little for fees, etc, and you have to be careful that all of card usage was accounted for when doing these calculation. (if you forgot that you charged $20 for gas in your car, you could be in trouble.)

You do have to be very careful when you do this. Leave yourself a little extra on the card for that margin of error and fees.