Does Equifax have to report your credit limit? I dispute my Dillard's account every month because my limit vanishes and is replaced by the high credit amount, which lowers my score 10 points due to balance to debt ratios. Anyone?
No credit card company "HAS" to report the credit limit...BUT if they DON'T report the CREDIT LIMIT...it is NOT 100% COMPLETE AND ACCURATE!!!!!!!
I'm having the same problem w/Dillards. I have a 1K limit and they keep reporting my highest limit of 523.00! I've even seen it my CL report as $0 when I pay my balance off! I'm very ticked to say the least. If it wasn't one of my oldest CC's I would close it out! Let me know if you get anywhere with them!!!
YOUR CREDIT REPORT MUST BE 100% COMPLETE AND ACCURATE!!! No credit limit...then it's NOT 100% COMPLETE AND ACCURATE!!! Some people have had sucess with sending the CRA(S) a copy of your bill with the CREDIT LIMIT HIGHLIGHTED and ask the CRA(S) to post your credit limit.
Thanks, George. I will try that. Something curious about Equifax. When I spoke to the rep about Dillard's she went on and on about how it was to my advantage not to have the limit reported b/c other creditors won't figure in the card as maxed out. I think they don't have the people to do it right or lose the paperwork in the confusion of everything.
HAVEN'T PROVEN IT FOR A FACT...but I was told that the people who do disputes have an "IN" basket full on MONDAY...and on FRIDAY, the "OUT" basket has to be FULL... That is why when I sent in like 30 disputes for "MINOR" corrections...they did the first 3 and STOPPED!!!
I AM SO PISSED AT DILLARD'S!!! They have done the same thing to me. What burns even more is that I faxed a letter to Equifax showing my credit line is $3500. This was in April and they updated it. When Dillards did the account update 5/02 they reduced it to $136 high charge!! It lost 11 points because of that. I tried calling Dillard's but I was on hold forever so i hung up. I am going to write them and tell them to update my account and show the correct information or I may sue. Equifax and Experian did what they were supposed to do. But Dillard's changed it back to the highest charge. I am so mad right now. It makes a BIG difference in utilization especially since that was my highest credit limit $3500 and I only have $60 charged. Now it looks like I'm using $60 of a $136 credit line!! I am going to write them a nasty letter and see what happens.
how about looking at Doc's recent thread about the concept of using a goodwill letter to get results in certain situations? I know that you are NOT looking for a goodwill adjustmen...I understand that you only want Dillards to send a tape with accurate info about your LOC to the CRA's. I do understand your frustration with Dillard's for not getting it right, but if a friendly worded request doesn't work, you can always go the other route.., just a thought wish I had that kind of LOC at Dillard's to fight for
Thanks, Maggie! I think I will try the 'nice' route. I was so mad and upset when I checked my equifax report that I told myself not to call because I know I would have lost it! It's taken a while for me to calm down and think rationally. I am going to try to get the corporate address and send my letter with the info. there. I guess being nice will yield more and better results. Oh well, we'll see. I got the credit line increase in Dec or Jan. It's the 2nd time I had asked for one. It went from $600 to $3500!
