04-22-2013 10:22 AM
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
04-22-2013 10:39 AM
04-22-2013 10:55 AM - edited 04-22-2013 10:55 AM
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)?
04-23-2013 06:57 AM
04-23-2013 11:51 AM
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.
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