If you have a credit card with Capital One, chances are your credit score is lower than it would be with a different credit card. This is because Capital One (and possibly other companies) don’t report your true credit limit.
Part of the calculation for your credit score is your ratio of used credit to credit available. $100 used out of $10,000 (a ratio of 1%) available is good. Rather than your real credit limit, Capital One report your highest credit usage. So if $200 is the highest amount of credit you’ve used, then your ratio is $100 out of $200 (a ratio of 50%), which is not nearly as good and can hurt your credit score.
You won’t have any luck trying to get Capital One to report your true credit limit typically absent litigation. If this is harming your scores, consult a reputable attorney such as Jason Barnette of Barnette Law Offices, LLC.
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