Hello Bo, My email is in response to this statement I've seen about Capital One on your blog."They report your credit limit as being whatever you charge so you are always maxed out with them."I have two questions. First, on our credit report it shows a largest past balance and then a current balance for Capital One. This is on both of our Capital One cards. If the way they report it leaves it appearing to be "always maxed out," how does this largest past balance affect our score? Second, if the account is zeroed out but left open how does that report/affect our score? I am hesitant to close our Capital One accounts because they are the oldest in good standing accounts we have open. I look forward to hearing from you soon.
Thanks for the help!
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"majors@oskie.com" / to Captial One Card holder with a thin credit file /
I guess in your situation i would keep it open too. But never have a balance
I guess you have some other credit too.
If you do have 3 other good credit lines then the capital one should be closed.
If not then keep it open but do not use the dern thing.