No, C1 does not report card limits, only high credit balance. So, if you charge $500 on a credit card with a $1000 limit, you should be at 50% utilization, however C1 will make you look like you're at 100% utilization when it first reports. One thing you could do is charge it up to the limit, then return the merchandise so it shows your high credit balance at the limit, but your actual balance will be zero because you returned the purchase.
Do they not report limits even with their Platinum card? That is my one complaint with them. I sent them a PFB about it too and talked to Mr. Cooke. He said they felt that the highest amount ever owed was a more accurate reflection of how you used the credit. I said it made it look like I have a $150 limit but he didn't think creditors looked at it that way. I'd like to know how creditors look at it when they pull TU and it says right there "Credit Limit $0"?!?!?!?!
Nope. For both me & hubby "Credit Limit $0" on all three of our Cap One accounts. I'm too afraid to do anything to try and get them to report because we can't afford to have them deleted! (You know what I mean, George!)
If someone really wanted to pursue the issue, they probably could based on the FCRA. § 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. § 1681s-2] (a) Duty of furnishers of information to provide accurate information. (1) Prohibition. (A) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or consciously avoids knowing that the information is inaccurate. (B) Reporting information after notice and confirmation of errors. A person shall not furnish information relating to a consumer to any consumer reporting agency if (i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and (ii) the information is, in fact, inaccurate.
