The Freedom From Debt Blog

Capital One has announced that it will begin reporting its customers’ credit limits to the credit bureaus.  This announcement is good news for Capital One customers. 

For years, consumers who carried balances on their Capital One credit cards were penalized by Capital One’s policy of not reporting credit limits.  Due to this policy, the consumers’ debt load appeared deceptively high in relation to the credit limit, possibly resulting in an artificially lowered credit score. Many of these consumers will quickly see a boost in their credit score once Capital One begins reporting accurate credit limits. 

However, according to Consumeraffairs.com, it is not all good news for Capital One customers.  It seems that many cardholders are now receiving notice that interest rates will be significantly higher.  Some speculate that Capital One may be announcing the new credit reporting policy to divert attention from the interest rate hike. 

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