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Question By
jsings2015

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How quickly Capital One reports credit utilization?
I just paid a huge chunk of my Capital One credit card balances, and I'm curious to know, based on your experience, how long does it take them to update the bureaus or whomever of the Credit Utlization being lowered?

Reason I ask, I was denied for a Discover 1 card not because of my 658 score, but b/c of my high credit card utilization at 77%. I know 30% is ideal, but I'm in a better place now financially so I should be able to hit 40-50% at max.

I am trying to be patient, just trying to work on a lot of things at once. New Credit card w/ higher limit, get loans refinanced and etc. so I want to be on top of things as much as I can!

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Stressed out

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Hi Everyone. So I’m looking to lease a Navigator and have a credit score of 658. My credit utilization is 95%. I’m paying credit cards down to be at 29% tomorrow. What is the chance my score will got up this time next month? 

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OMG 40-50% will destroy your credit

Helpful to 2 out of 3 people

The statement 40-50% will DESTROY your credit is way overstated. First of all congratulations on paying down your debt. Also congratulations on being very knowledge about your re-edit score. Keep revolving utilization below 30% if possible. My credit card utilization on FICO is around 30 down from 60% and my credit score bounced up about 50 points from 690 to 740. Your doing great. Single digit utilization will not have that big an impact. Just keep under 30%. You are doing great!

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That big payment will be reported

Helpful to 15 out of 15 people

The day your next bill is mailed.  If you get e-bills, it's the day you get your ebill.  

Realize also that just because its reported to the CRA, that doesn't mean that everything else is updated at the same time.  It generally takes anywhere from 15 to 45 days for things to get reported and cross reported to all the different entities involved in your credit report.  

 Since you say you were denied for a Discover Card, do yourself a favor and DON"T apply for new credit again for at least 6 months.  Any sooner and your chances of getting approved drop no matter what your score. Spend the next few months getting that Utilization down. Your score will go up. You want your score as close to 720 as possible the next time you apply.

Good Luck

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Always use 10 to 15% of limit

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Omg 40 to 50 will destroy your credit. Big time. I use 10 to 15% but learned anything 1-9% is ideal to get an excellent rating. I get my statement and pay in full 2 to 3 days after getting it. Every time.
The higher your utilization the more of a risk you are.
And don't leave anything to get a leftover balance. Don't ever pay interest on money you borrow from future you. The interest, your extra money, goes to cc company, a stranger. Do not leave rollover balance. Pay 100% soon as statement hits. Never before, else it won't register at all. Use 1-9% of limit for best ultimate results, use 10-20 for good results and use 21 and up for bad results. A cc is never for emergencies else it becomes the emergency. And never pay just minimum. The strangers will get your extra money (interest) and minimum only goes to interest.! Pay in full once you get statement.

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Reply by
sarra1833

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Helpful to 9 out of 14 people

Rules: use debit/cash to live.
Use credit to raise/repair score then maintain score.
My reply above stresses the major factors that work for you.

I'd get a cc with 5000% interest because I'd never pay a cent of interest. Interest rate doesn't matter long as you pay 100 percent of the amount soon as you get the statement. Always always always.

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