I have a Capitol One CC with a $500.00 limit. They did report the new account but didn't report the limit amount. Should I get them to report it? Should I send a copy of my statement with the limit amount shown to the bureaus? Or...Should I just leave it? Maybe it is better to not report it at this time as it is a small limit amount? What should I do? Your advice is appreciated
I have 3 C1 cards (thanks, Orchard Bank), and they all report balance as well as limit.
I've read that cards reporting with a balance but no limits can in situations "confuse" the alogrhythms and your carried balance in that instance may even be computed as 100% utilization. Its certainly more desirable to show a low CL than a "maxed-out" CL due to no limit reporting.
Are you looking at actual credit reports, or are you using a service (myFICO/CreditKarma/CreditSesame/etc)?
MyFico. It states that the Limit is Not Reported, Past Due is Not Reported and Payment Agreement is not reported.
All of my new accounts have shown the same way on myFICO when they're first reported, per the ScoreWatch alert. It's only temporary, don't worry too much about it. If I recall correctly, when the first statement cuts from Cap1 and myFICO gets the info it'll be updated.