What does this mean? I have a Saks Fifth Ave Card no limit just High Credit why??? How does this work with the Scoring System?? =(
They have various excuses. Some say they don't want other companies stealing their customers, Citi says since you can go over the credit limit on their AAAdvantage card, they don't report it, etc. It can be very damaging to your credit because if you use say $2,000 it looks like you are at 100% utilization even though your limit might be $10,000. I'm fighting with TU over this right now (in particular since they use $0 in that field rather than N/A) and plan to file suit if they don't either delete incomplete accounts that don't list credit limits or list the credit limit. Right now their position is that they don't consider reporting a cl of $0 as incomplete or inaccurate. We shall see. L
I also Have a Saks 5th Av card. My full Cr limit is showed at Exp and TU. Equifax shows high usage only.
Experian doesn't show the CL on my Saks acct, but Equifax does. They also don't tell you your limit via. their phone #. You can get it though by going to customer service. Maybe they like to encourage the idea that they don't have limit (even though they of course do) because that way you'll buy what you want and they may automatically increase it anyway.
CREDIT LIMIT of N/A or $0 is not CORRECT... The CRA'S must report----->100% COMPLETE and 100% ACCURATE...
George, if Saks reports the account to the CRA with a CL not avaliable, or a $0 cl, then the CRA is not violating the law, they can only report what is reported to them, and as long as they report what is reported to them without mistakes, id venture to say there not violating the law. This sounds like something that should be taken up with Saks, bearing in mind that they could just possibly deleat the entire account at there whim, no laws that im aware of require a creditor to report to the CRAs
