Question

I have a question.  my husband has a Capital One card that he only uses for gas.I have a question. my husband has a Capital One card that he only uses for gas. He's trying to build his credit because we're hoping to buy a house this year. Anyway, he's had it since Oct '19. At first we were just paying the bill once a month, but paying it early. Well, that wasn't moving his score much. Then, in Jan, instead of waiting for the bill, I just paid it off (didn't close it, he will still be using it) So I was wondering how often does Cap 1 report to credit bureaus? It's been over a month since the last time they reported and my husband's score has dropped almost 50 points.  

Answer 1

They usually report monthly.  

Comments

@schubert That's what I thought, but it's been a little over a month now

Answer 2

1x mo. Cap 1 has free credit score program, it should show you exactly what day it reports. That is a fairly new card so won’t hold a lot of weight for scoring. Did he recently apply for something (inquiry)? Or is he using too much? (Only use 30% of limit) Make sure something else didn’t pop on there. How are you monitoring?  

Answer 3

When you say paying it early. does that mean you received the bill and paid before the due date? Or paid before the bill was cut? To help your credit you need to have the bill cut, that is what goes to credit utilization and impacts your score.  

Comments

@broddie3165 I'd get the statement via email, and then was paying it 11 days earlier than the due date.  

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@tolkan keep doing this, something else must be effecting his score. It may take a few months for it to come up. GOOD luck

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@crucible Thank you very much!  

Answer 4

You need to wait until the statement post then pay it off, if you are making payments as you use it, then most likely the balance is nearly 0 at statement time. Therefore this does not reflect the good credit usage (not sure if i worded that correctly). Hope this makes sense.  

Comments

@crucible It does make sense.  

Answer 5

Mine reports monthly.  

Answer 6

I always wait until we get a statement. and when it dropped, it said 'no changes'. I'm very new to using cc. I've never had one and didn't want one, but didn't know of any other way to try to build his credit up

Answer 7

Thank you all for your input and suggestions. I'm going to look into it a little more. Thanks again!