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blondie813

Capital One updates credit report multiple times during month

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I am wondering if it is legal or standard practice for Capital One to update my credit report multiple times per month?  My billing cycle ends on the 2nd of the month.  Typically, Capital One will update the credit bureaus a few days after that (between the 6th-8th of the month).  I have noticed a few times now that if my balance increases during the month that Capital One will update my report again with the increased balance.  For example, I typically pay off my balance when my payments are due and then use my card throughout the month.  For this reporting period, I paid it leaving a balance of $30 and then around June 8th, Capital One updated the credit bureaus with my correct balance info .  I then used the card for a few purchases which increased my balance  and I noticed on Monday June 22  that they have now updated the credit bureaus again showing the higher balance which caused my scores to drop.  

 

This just doesn't seem right to me. If I still had the higher balance upon my next billing cycle/payment due, I can see where they would have reason to report it but it seems that they are intentionally updating it again later in the month with the intent of adversely affecting my scores. I have not experienced this multiple monthly reporting with any other creditor. Any feedback is appreciated.

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No law against it.  Just take heart in the fact that it does cost them money.  And, unless you're looking at actual FICO scores from myfico.com...don't worry about it.

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Was your balance how much higher  with them and what was the ratio to what you owed and  not  paid to make if go lower?

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