12-11-2008 09:55 AM
I have a Citibank Driver's Edge Charter World Mastercard that has a $25,000 revolving credit line, which I've had since 1993 when the same card was formerly called the Ford Citibank Mastercard. It has the additional feature of not having a monthly spending limit, as long I pay off the amount over $25,000 before my next billing cycle.
My credit reports show "NA" under "Credit Limit" section. I called Citibank to complain and they said that I would need to write to the "Citibank Credit Bureau Dispute" department to have the $25,000 show up instead of "NA".
I typically charge less than $1,000 per month on this card and pay in full every month. I also have an AMEX Blue Cash card with a $30,000 credit limit that I charge $2,000-$7,000 per month (depending on how much traveling I do) and also pay in full every month. The AMEX card correctly reports the $30,000 credit limit on all my credit reports.
Last time I ran my Fico score was 2 years ago and it was 815, but Citibank was reporting my $22,000 (at the time) credit limit--before they upgraded it to the "unlimited credit line" feature. Would it affect my utilitization part of my credit score negatively if they report NA instead of the 25,000 credit limit? I'm affraid that when I charge $1,000 on the Citi MC and $7,000 on the AMEX my utilitization will be counted only against the $30,000 line that's reported by AMEX (8k/30k=26% utilization, versus the real utilization which would be 8k/55k=14.5% utilization).
12-11-2008 10:25 AM
This appears to be a card that has a no preset spending limit. The credit limits on these types of cards are not reported. Only the high limit. So if the highest you charged was 5k, that's all that will get reported to the CRA. I'm not sure if disputing it will get you the result that you want. I had that same problem with one of my Citibank cards and the only solution was to do a product change over to a card that actually reports the limit.
12-11-2008 10:33 AM
12-11-2008 11:09 AM
12-11-2008 11:16 AM
12-11-2008 01:17 PM
For, shall we say, the overwhelming majority of members on these boards, Visa Signature cards and World Mastercards do not report a credit limit to the CRA's, as they are no pre-set limits cards. There is a way that they could code these properly, but no one has had success in getting them to do it more than once or twice.
I'll try to get them to report it with the 25k credit limit by writing to them at their "Citibank Credit Bureau Dispute" as the CSR suggested.
I don't care so much for my credit score since even if it were to drop to 790 from 815, I would still qualify for the best interest rates. It's just that I have my wife as an authorized user and would like for the high credit limit to show up on her credit reports. I know it no longer brings up her score as much as before by being an AU due to the fraud others were doing in the past of buying an AU from strangers on the internet to bring their scores up, but it can't hurt.
I'm trying to get her FICO score up from the mid-600s to the mid-700s in the next year or so. Next step will be co-signing or getting a joint car loan from our credit union so that she can have another positive item on her report. That's of course once I do a PFD for a $250 unrecognized medical collection from Grant & Webber. I'm willing to pay off that $250 fraudulent unrecognized charge just to finish cleaning up her report.
04-15-2010 03:28 PM
Sorry for bringing back an old topic, but after searching Google and myFICO for hours, this is the closest thing to an answer I've seen.
I have three credit cards; two of them are Citi with no preset limit and show "NA" for my credit line in my credit report (even though the rolling limit is $25k). My third credit card is one I've had for over 10 years, but never use...and it has a $5000 limit.
Since I charge everything to credit cards (and pay off 100% each month), I'm worried my credit score is getting dinged since it could appear I am using most of (or even exceeding) my available credit limit, even though in reality I'm not even close.
Is it worth it to dispute it to Citi...or to change cards? ...or are the credit agencies smart enough to realize what is going on?
Much thanks in advance,
04-15-2010 05:31 PM
Welcome to the forum, carlyman!
Have you checked your credit reports and scores recently? With those cards and limits, your score is probably way up there, and you may be worrying for nothing.
Anything above a 760 or so for a FICO score is just window dressing and doesn't mean much. At 760, you'll get the absolute best rates and offers, and they don't improve with higher scores.
I forget which of the credit bureaus do this, but in place of an absent credit limit, they use the highest reported balance instead for calculating utilization. A lot of folks with these cards will charge up to their limit, then pay it off promptly afterwards. That high balance would be used in place of the N/A credit limit from then on.
I'd sit tight until I checked my scores first. If you're not looking for credit, and you're happy with your current accounts (and they're happy with you), I wouldn't worry about the credit scores, either. Sounds like you're doin' OK!
Hope this helps!
04-15-2010 06:43 PM
Thanks for the response (and the welcome)! I'm actually going to be relocating soon, so I'm doing all my credit checks and making sure everything is good to go. I have great/excellent credit, but since I'm still fairly young (<30) I don't have a very long credit history. ....I did see a "high balance" listed in my reports, but I'd hate to have to go spend thousands of dollars just to raise my credit :-/
Guess I could just check my FICO score and see if I should be worrying at all!
04-16-2010 03:57 AM
JC, the "high balance" thing has been handled in an innovative way by some people (not me, of course...I'd never even think of this)!
Buy something expensive, let the high balance post, then return the expensive item for the full refund. The catch is to make certain that the item can be returned, and that there are no restocking fees or any other fees to you for returning the item. Some folks use a no-limit card to put down a fully-refundable deposit for a large purchase, which is then cancelled.
It helps if you have a "friendly" retailer, too. Especially if he's a jeweler, and the item never leaves his store (awaiting engraving, then customer had a change of heart about the entire purchase).
Just random thoughts, no recommendations here...
Please let us know what your scores actually are, just for the heck of it!
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.