My new AT&T Universal Card is finally being reported on at least one of my reports and that of my husband. We have a $6000 credit limit but on both reports but it does not report a credit limit. I have been very careful not to charge over 25% of it. I called Experian and Citi and they told me they do not report and they do not have to report a credit limit. Does this impact my score? I am afraid to make waves because this is my first good , major account. If it does not impact my credit then I do not mind but are they not required to report complete , accurate information? If they do not report, should I add a statement and if I do can I change it everytime the limit changes?
This is weird. What is Citi doing lately? Citi not reporting the CL does hurt your score, because it looks like you have less credit available then you really do. I have a AT&T Universal (three months old) and all three report the CL. Options are limited, but you can either send the CRAs a copy of your statement with your CL circled (cross out any important info like purchases or balance). TU is great about doing this and Experian will do it after two angry phone calls. Also, add in the note in big bold letters "DO NOT DELETE TRADELINE". The other option is to purchase a large item (but something easily returnable) and then return it the next day. Some banks post your highest balance, even though it is not the statement balance..Juniper does this. Others will only report the statement balance from the previous period...Amex does it this way. Depending on the bank you may have to purchase the item a day or two before the statement date and then return it after the statement closes. The last alternative (or the only other one I can think of) is to do nothing and just it sit. When you use it or carry a balance your high balance will increase. Hope this helps. Dani
Can you check and see if your statments indicate that they eventually (perhaps after three months lie ) start reporting a credit limit? I do not understand this at all. Did they report to all three Credit B's the first month for you? We are only being reported on on one so far. Let me get this straight. How long should I keep this large item that I plan to take back? Will it report the high balance each month there after or will the CR reflect only the current balance in subsequent months? Say if I put 2000 more dollars on the card (I have $1800 on right now) will the CR always say "High Balance $3600" until it max it out even further? thanks so much
My AT&T began reporting in three weeks. Since I use the card as a BT card they started reporting my balance, before the statement came out. They just update each month from there. Once you have a high balance established, that will report as the high balance until you go over that. So your assumption about 'High Balance $3600" until you max it out further is correct. Dani
I balance transferred $450 but the high balance is reporting $613. I guess they reported me and just used the present day balance. I am wondering if I should not be so quick to pay down my $1800 balance until I know they are reporting that balance. It seems unfair to have to do it this way. Why should I have to pay extra interest by keeping a high balance for now just so it shows on my report? Thanks for youe help. It was VERY helpful. Diane143
Hmmm What about purchasing a large item and taking it back within a 30 day trial period? Would that be a better guarrentee that the high limit will be posted on my credit report or is taking it back within 24 hours sufficent?
I have never tried the purchase/return method. A couple on this board have done that and found that it works, but it depends on the card issuers terms on credit reporting - whether it is during the statement period or only the statement date. I have done the statement/limit enclosed method through the CRASs. But, it is time consuming and a pain in the boo tooty. Which CRAs are not reporting the limit? And which ones are not reporting the trade line? When you contacted AT&T's credit bureau unit what was their reason for not reporting? There has been a problem with Citi and Experian reporting the correct information, but Equifax and TU should be reporting it. Also, doesn't your AT&T Universal come with a 0% for six months? Sorry for the all questions. Dani
Diane, I think you may be in luck. Experian and Citi have had problems recently, at least with reporting the correct CL (or any CL for that matter). I would give them 4-6 weeks to see if the account is being reported to Equifax and TU. Both should report the tradeline with the correct CL. So don't worry about the purchase/return method or the dispute with statement method yet. Pay off what you can and don't worry about the high balance. There is no point in paying them anymore interest then you have to. Give it a couple weeks to report to the other two CRAs (Citi will report, they just may be backlogged). Hope this helps. Dani
