Anyhow, until today, I was unaware that Capital One was one of the few card companies who do not report credit limits to the credit bureaus. And since a hefty chunk of your credit score is based upon "utilization" — that'd be your total balances taken as a percentage of your available credit limits — this has the potential to sway the FICO scores of some people a fair bit. (Young folks and credit-world newcomers would be most susceptible to this.)
In lieu of credit limits, the "No Hassle" crowd chooses to report your Highest Balance carried on the card. So, for example, if your Capital One credit limit were $5,000, but the highest balance you'd ever reached was $1,000, then a current balance of $700 gives you a 70 percent utilization ratio — rather than the 14 percent utilization it would normally be. In the world of credit scoring, that 70-percent mark is too high. And your score will suffer.
Just some plastic food for thought. The previous information was brought to my attention by an article in the August 2006 issue of Kiplinger's Personal Finance magazine, as well as this 2004 article from the Washington Post.