I pulled my credit report recently and noticed in the high credit column Amex is reporting my highest balance and not my credit limit. Do I contact the credit bureau or American Express to change this? Also, does anyone have the address for Equifax to correct inaccurate information - addresses, name variations, etc. I thought it was Fredericksburg, Virginia, but I don't know the rest. Thanks in advance. Dani
I remember reading a thread awhile back that stated that Amex DOESN'T report limits just high balances. Not sure if it applied to all their products or not?
That's right, Amex doesn't report limits. I had to borrow close to the limit in order to have them report a "high balance" that's close enough to the actual limit. Saar
Thanks Saar and Mom. I was freaking out because my high credit was $2573 and my current balance was $2531 so it looks like I am at my maximum limit although I still have $400-500 left. Oh well, I just have to pay it off each month. Dani
Dani wrote: "I just have to pay it off each month." Why? Once they update your "high balance" figure, it can only go up, not down. Saar
Saar that's true, but if I carry a balance (like I am now) aren't creditors going to say "whoa - her debt ratio is too high". If I pay the card off each month my balance will be zero and I will at least look like a responsible card holder. Yea or nay? Dani
Well that depends on your credit situation. If you're looking for higher limits, you should keep a balance revolving, even if it's small. Otherwise you're not giving them the incentive. On the other hand, if you're happy w/ your limits then don't worry about it. For FICO score purposes, it is recommended to keep at least one card that isn't paid in full. But again, if you're done building your credit and are happy with your cards, you can probably do w/o it. Saar
