My capitalone card has a limit of $1,500. Equifax is reporting the limit as $924. I know the percentage of usage qould reduce if this is corrected, and I'd probably get a higher score. I've read here that some people have disputed the limit, and the CRA deleted the trade-line. Is this worth disputing? Or should I just let it go?
C1 never reports your "credit limit". Rather they report "high credit". So if your limit is $1500, and you've only charged $924 on it, and the account cycled, your report would say :HIGH BALANCE: $924. Many have tried to get C1 to report the actual credit limit. Not sure if anyone has been successful. You could charge up to your limit, then pay it off. That way, your "high balance" will match your "real limit".
I am having the same problem with my Target Signature (store) card reporting to Experian. I think it's some kind of database problem. I don't think this type of reporting problem can be fixed for one person. To get it fixed we need to try to bypass customer service at the credit card company and get to the database administrator or the Chief Information Officer (CIO). Good luck.
It's not a database problem, it's the way the card company reports. They think they are hiding your credit limit so no one else can steal you away. Wrong. It impacts your score negatively. That's not the way to treat a customer they want to keep, IMO.
I had my target card show uo with a 58.00 balance and 58.00 limit lost 20 points and I have disputed it twice and keeps getting verified.
If they can keep you score DEPRESSED...you will accept their LOWER limits and HIGHER interest rates!!!
Why not take them to court for not reporting accurate information. Can't you use your approval letter or statement which shows your credit limit as proof?
Has anyone contacted Cap1 to find out why they don't report? Maybe all cardholders should bombard them with letters demanding they report their cardholders correct credit limits. I don't know if this will help, but it might be worth a try. I have a Cap1 card also and it really annoys me that they won't report my credit limit. I just sent them an e-mail, so I will report back any response I get from them.
The feedback I got from "THE MAN"...CAPITAL ONE thinks it doesn't matter CREDIT LIMIT vs. HIGH CREDIT... No plans to change anything soon...
I have to reiterate what Mindcrime said. The easy way around this is to just charge your card up to the limit and then pay it off to a zero balance within a week or so. When the high credit hits your credit reports, it should show your zero balance as well - this will really boost your scores. Also keep in mind that tradeline will always show that high credit amount from that point on. -Sal
Sal Actually its not the same as fixing the reporting problem. My Walmart store card with Experian reports about 20 months worth of balance history. My Target card never reports any history.
Well thats just total b.s. If it affects your credit score then, yes, it does matter. Also, if customers do want it reported then it should be. Not everybody wants to have to run up their credit limit just so they can have it reported as "high credit". I have had no trouble with Cap1 other than this issue. Cap1 could easily report it IF they wanted to. They obviously have a hidden agenda behind this.
Here is the generic response I got from my e-mail to Cap1 regarding their policy of not reporting credit limits: Thank you for contacting Capital One. We appreciate your feedback regarding the omitting of credit limits on credit reports and have forwarded your concern to the appropriate department. Capital One's goal is to provide all of our customers and have made this decision in order to offer the highest level of customer service and products to our customers. If you have any additional questions, please feel free to reply to this e-mail, or contact our Customer Relations Department at 1-800-955-7070. For your convenience, our representatives are available to assist you 24 hours every day. Again, thank you for contacting Capital One, and we look forward to assisting you. Sincerely, M. Fulton eCorrespondence Capital One Services
I just e-mailed their customer service the other day and plan to write a letter to the President of Cap1. I also urge other Cap1 cardholders to do the same. If you log on to their website you can e-mail them.
a week ago I disputed with experian regarding cap 1 account credit limit being N/A, let us see what they. If cap 1 does not respond, I wonder if the cra will delete that account from my report.
It says here, FCRA Section 623(a)(2) "Duty to correct and update information. A person who (B) has furnished to a consumer reporting agency information that the person determines is not complete or accurate, shall promptly notify the consumer reporting agency of that determination and provide to the agency any corrections to that information, or any additional information that is necessary to make the information provided by the person to the agency complete and accurate, and shall not thereafter furnish to the agency any of the information that remains not complete or accurate." That seems pretty clear to me. If they are not reporting your credit limit, then they are not reporting complete information.
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