Comments on: Is it true that some credit cards can damage your credit even if you pay fully and on time? http://insurance-loans-mortgages.com/1466/true-credit-cards-damage-credit-pay-fully-time/ Money questions and answers! Thu, 24 May 2012 08:33:32 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: echo http://insurance-loans-mortgages.com/1466/true-credit-cards-damage-credit-pay-fully-time/comment-page-1/#comment-1993 echo Fri, 05 Feb 2010 06:39:21 +0000 http://insurance-loans-mortgages.com/?p=1466#comment-1993 Usually the ones that can damage your credit, if you pay in full and on time, are the companies that want your interest dollars. They may do a credit line decrease or simply close your account. Both of which will damage your credit How much it hurts depends on how old the account is. There is one company, Capital One, that will damage your credit simply by the way they report. They do not report your credit limit. They only report your balances. Which means that when you charge on your Cap One card, you look like you have 100% utilization on that account. Cap One isn't the only one who does this, unfortunately, but is the largest credit company that does it. Usually the ones that can damage your credit, if you pay in full and on time, are the companies that want your interest dollars.

They may do a credit line decrease or simply close your account. Both of which will damage your credit How much it hurts depends on how old the account is.

There is one company, Capital One, that will damage your credit simply by the way they report. They do not report your credit limit. They only report your balances.

Which means that when you charge on your Cap One card, you look like you have 100% utilization on that account.

Cap One isn’t the only one who does this, unfortunately, but is the largest credit company that does it.

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