Capital One claims to care about consumers but they intentionally mislead anyone who views your credit by not reporting the credit limits to the credit bureaus. They report the highest amount you ever charged. This may seem trivial but it WILL cause your FICO score to drop almost 50 points because it will make it look like you are maxed out on your CC. The utilization factor of your FICO score makes up 30 percent of the score.
The reason they do this is so that they will be the only one who will finance you for a car, auto, etc... Melissa Wallace from the Executive Office claims this is a business decision that could be reviewed but in fact people have been complaining forever and nothing has been done. They give the standard BS that they "follow all applicable laws."
Bottom line - avoid credit cards from Capital One because if you have a $2,000 limit and only have a balance of $300, Crap One will only report the $300 as the credit limit. It will calculate the FICO based on the fact that you are maxed out.
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