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Creditexpert.com and % Credit Avail

Discussion in 'Credit Talk' started by gavenraj, Jul 11, 2002.

  1. Jul 11, 2002 #1
    gavenraj

    gavenraj Well-Known Member

    I have a question about Creditexpert.com (Experian) and their calculation for % Credit Available. They define Credit Available as:

    The amount of credit you have remaining on your credit account. It equals your credit limit minus your credit balance.

    Does this include Installment, mortgage, and revolving or what?

    Just wondering because I am trying to figure out why my % Credit Available went down from 62% (yesterday) to 41% (today).

    Thanks,

    Gavenraj
     
  3. Jul 11, 2002 #2
    Baday

    Baday Well-Known Member

    It should only include your credit cards.
     
  4. Jul 11, 2002 #3
    gavenraj

    gavenraj Well-Known Member

    So I ran an excel spreadsheet and found the following:

    1) Experian had a stated balance but no stated available credit next to it. Therefore, the percentage went down.

    2) Inaccuracy in the actual balance also in the same credit card.

    3) This is the fact with another credit card also.

    Any suggestion on how I may fix this? I already have several disputes going with them right now. Should I call them, write them, or just wait?

    Thanks in advance,

    Gavenraj
     
  5. Jul 11, 2002 #4
    GEORGE

    GEORGE Well-Known Member

    You can send a copy of the statement (TO THE CRA'S) showing the CREDIT LIMIT and the CURRENT BALANCE...HIGHLIGHT the amounts...IT MAY WORK...IT HAS FOR SOME...
     
  6. Jul 12, 2002 #5
    PIMA

    PIMA Active Member

    Exp. did the same thing to me 2 days ago. Because Citi has not been updating on my EXP report since 8/01 Experian calculated by % available credit by including the citibank balance but NOT including the citibank credit limit. Therefore My available credit went from about 50% available credit down to about 20% available credit. There were no other changes on my report.
     
  7. Jul 12, 2002 #6
    gavenraj

    gavenraj Well-Known Member

    You probably noticed a change in your credit score. Did you report it to Citibank or Experian? If you did resolve this, how did you.

    Thanks in advance,

    Gavenraj
     
  8. Jul 12, 2002 #7
    PIMA

    PIMA Active Member

    Score went down 1 point. I have not reported to EXP or Citi yet. I'm wondering if its worth the argument for 1 point. However it have CreditExpert so I am keeping a close eye on it.
     

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