Following is an interesting link to an article I just found on Bankrate.com relating to the non-reporting of consumers credit data: www.bankrate.com/brm/news/cc/20000428.asp?prodtype=cc&thisponsor=bcd Perhaps this explains why certain issuers (Cap One, etc.) don't report credit card limits. -chriscraft
Thanks for the link. The a$$holes! I got a copy of my Experian Dated 2/1 and I noticed that both AMEX and Discover were reporting limits.
"Lenders that report none of their customers' credit information have been blocked from using a credit bureau's marketing services for some time. Now lenders that withhold any aspect of credit information will feel the pinch. Under the new policies, a credit card company that won't disclose credit line information on its own customers can't view the credit line information of other companies' customers. Ditto for subprime lenders who fail to report payment history information." If this is true - then maybe Capital One, who is so invested in an internal computer model profling their customers, will have to report their credit limits in order to get the data they need from the CRAs to make their own internal model useful.
Hi, Marci! I hope you're right. My Cap One is not reporting limits, and that doesn't help my utilization factor at all. Next time I ask for a "favor" from their Exec Offices, I'll be sure to request that they report the limit for me. Take care! -chriscraft
This is a good article from last year. It amazes me that bankrate didn't go as to reveal who some of these lenders are that withhold potentially positive data from the CRAs.
I have a Cap One card. Zero balance on it because of this practice. I have my files blocked for promotional purposes (opted out in September). Yet I have a PRM inquiry from CapOne in December. I don't understand.
Re: Why Card Issuers Don't Report I Cap 1 will not do the "favor" of reporting limits - I asked Mr. Cooke about it and he said it was a company decision not to report CLs - but maybe now they will have to.
"Under the new policies, a credit card company that won't disclose credit line information on its own customers can't view the credit line information of other companies' customers. Ditto for subprime lenders who fail to report payment history information." This seems like it is almost a good thing to me. They don't need to see all of my credit report.
I had posted a question regarding the same issue in regards to Household Automotive. Instead of reporting my good credit history, they had the credit bureau delete the whole tradeline. I know this is against the law but I don't know how to go about suing them. Anybody have any ideas?
Re: Why Card Issuers Don't Report I bc, thanks for the info. Even though the article may be a bit dated (or for that matter may have been previously posted on the Board), I think it is still very relevant today. It's simply amazing to me what companies will do at the expense of the consumer. -chriscraft
Re: Why Card Issuers Don't Report I absolutely. also consider that not much has changed (in terms of reporting) in 2 years despite the attempts to change things.
Re: Why Card Issuers Don't Report I I just wonder if this is the reason why Capital One has been so slow at raising our credit limit. My first CL was 500.. and then I had to practically begg for an increase 2 years later we never had used the account up to that point. now we have just a 4K Cap One limit.. verses..credit availabe of 5K to 23K with other creditors. If Cap One doesn't respond to my Devcember Payoff.. they are toasted.
