If my credit cards are not reporting a limit, is this hurting my score? Example: Capital One reports date opened, high balance, most recent balance, etc...but under credit limit it shows N/A. My score sux...could this be contributing??
YES... N/A IS NOT A CREDIT LIMIT... If you have five cards and have $5,000 each, but two are N/A...$15,000 is what they use for the RATIO...(if you owe $7,500 total, true ratio is 30%...they ASSUME you are 50%)!!! If you DISPUTE IT...they may remove the WHOLE ACCOUNT, like EXPERIAN did on my AMEX BLUE!!!
Here's a website you should check out. The webmaster does a good job of telling who reports limits and who doesn't. http://www.bayhouse.com/order-credit.shtml
txstep, Unfortunately today, 25% of creditors do not report credit limits for revolving lines of credit - American Express, Capital One, and the May Department Stores are just a few. The easiest thing to do is to send a dispute to each of the credit bureaus not reporting the limit and enclosing a copy of your statement (black out all important information except your name, address, and credit limit). It takes 30 days, but they will begin reporting the credit line. Equifax and TransUnion are the easiest to work with concerning this. Experian takes one or two calls even after you dispute the line and mail in proof, but they will eventually report it. Good luck. Dani
Thanks so much for the advice. I just noticed this today. I will try to get this corrected and hopefully my scores will go up some.
I believe for Cap 1 they use the "high Credit" as the limit. I read a previous post that suggested to buy something on your card that nearly maxes it out and then return it/cancel the order and your "high credit" will reflect this and it will be used as the credit limit.
That doesn't work with Equifax!! I sent the statement, have written twice, had them contact Discover directly as suggested by Discover, and STILL they won't report my CL as 10K, but high balance of 2K....got update from them on the latest request yesterday! I can't get anything but a busy signal when trying to phone. Discover is reporting the same limit to all 3 CRAs, and the other two have it correctly. I am totally disgusted, as it is affecting my ratios:-(
I did what George said re: Amex and all 3 bureaus deleted the damn thing! The Amex account is closed but has been reporting since 1982, it was my oldest tradeline. Deletion of that Amex line plummeted my scores. George should have little trouble getting his to report again because he has an open account with Amex Blue. But WHAT should I do??????!
