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Credit Limit Incorrect...

Member

Credit Limit Incorrect...

My Credit Limit on a particular card from CITIBANK is 22K.. with a utilization of 90%.
 
However it is being reported by all 3 agencies as $0.. Thus causing my utilization net of all my cards around 150%.  Citi and all the agencies say its correct at $0.. Even after letters and explanations to all 4.. including copies of statement showing credit limit.
 
What can I do???
 
Tu 620/ Eq 653/ Ex 611
Message 1 of 10
9 REPLIES
Moderator Emeritus

Re: Credit Limit Incorrect...

Which CITI card is this? Some do not report CLs and instead report your high balance.
Message 2 of 10
Member

Re: Credit Limit Incorrect...

It is a World card .. But why would Equifax be telling me that my credit use ase is 22k higher than my available credit ?
Message 3 of 10
Frequent Contributor

Re: Credit Limit Incorrect...

New Member, Have a lot to learn.

I have had the same experience with Bank of America Signature Card.

They will not report the credit limit. I have tried numerous times, they will report the limit and the next month it’s back to -0-.

The CSR’s insist that it will not affect the credit report. However, it does affect your utilization on the card and the total utilization of debt to credit ratio on my Equifax Report.

In my opinion, reporting -0- does indicate that even if you have a $1.00 balance, you are using 100 % of your credit limit on this card.

 

What say you? Any comments or suggestions.
Message 4 of 10
Moderator Emeritus

Re: Credit Limit Incorrect...

FICO will use the high balace as a subsitute for the CL-
 
EQ (assuming their Gold product) does know how to calculate "other" and no limit cards in their summary-
 
DW's UTL is under 1% but looks like 20% on EQ.

babumax wrote:
It is a World card .. But why would Equifax be telling me that my credit use ase is 22k higher than my available credit ?



Message 5 of 10
Senior Contributor

Re: Credit Limit Incorrect...

Hi Babu. You might want to look into doing a product change with your Citi card. I did this when I found out the Premier Pass didn't report CL.

It seems that any card with a no preset spending limit feature (Aside from Amex, not technically a credit card) fail to report their CL.
Here we go again...
Message 6 of 10
Member

Re: Credit Limit Incorrect...

My EQ summary does not include the citicard acct Credit Limit.. and shows me at 150% utilization on CC accounts.. So I will try to convert the balance to a different account it seems like all I can do..
Message 7 of 10
Frequent Contributor

Re: Credit Limit Incorrect...

 

Timothy

Equifax places the Signature Card under “Revolving” accounts. So says my report.

I understand what you are saying about FICO substitutes High Balance in lieu of credit limit for scoring purposes My question is: if the credit limit shows -0- instead of being left blank or N/A is in the credit limit field, does FICO still use the high balance theory?

The debt to credit ratio showing a much higher percentage bothers me a little. My concern would be as to how other Issuers view this when evaluating your credit worthiness. In other words would this be a cause for adverse action with current creditors?

 

Message 8 of 10
Moderator Emeritus

Re: Credit Limit Incorrect...

Yes- if it has N/A or 0 on an open revolving account- FICO will use the high balance.
 
IMO- This would only really hurt if it was your only card- as a new CCC may not know how to set a limit for you or you have your balance and high balance making your UTL look high- 
 
I would not expect AA from a company I would want to continue business with anyways-
 
On a manual review- people are smart enough to know it is a "no limit" card of some sort.
 

 

Cleanmachine wrote:
 

Timothy

Equifax places the Signature Card under “Revolving” accounts. So says my report.

I understand what you are saying about FICO substitutes High Balance in lieu of credit limit for scoring purposes My question is: if the credit limit shows -0- instead of being left blank or N/A is in the credit limit field, does FICO still use the high balance theory?

The debt to credit ratio showing a much higher percentage bothers me a little. My concern would be as to how other Issuers view this when evaluating your credit worthiness. In other words would this be a cause for adverse action with current creditors?

 




Message 9 of 10
Highlighted
Frequent Contributor

Re: Credit Limit Incorrect...

 

Timothy

Many thanks for your fast response and insight on this matter.

Had the card for about a year. It’s only been in the last few months when they stopped reporting the credit limit that it has been caused of concern for me, especially since it moved my overall utilization so high.

As you suggest, it may not cause any adverse action.

Message 10 of 10