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High Balance > Credit Limit

SOLVED
Frequent Contributor

High Balance > Credit Limit

Upon reviewing my EX annual credit report, I noticed that my High Balance exceeded my Credit Limit twice in 2007.

 

Questions

  1. Does this negatively affect my credit score?
  2. If yes, will a CLI resolve the negative effect?
  3. If CLI is recommended, will it result in a hard or soft INQ?
Thanks in advance.


06/30/2017 - EX 807 (Credit Scorecard EX FICO® Score 8, range 300-850)
07/20/2017 - TU 819 (Discover TU FICO® Score 8, range 300-850)
07/25/2017 - EQ 842 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 12/13/2015
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2 REPLIES
Regular Contributor

Re: High Balance > Credit Limit

simply put, your high balance exceeding credit limit does not affect your score. Let me clarify that at the time you were over your limit, your score suffered because you were maxed out.

 

I now have a card where my high balance exceeds my current limit, but that's because AMEX decreased the limit.

Message 2 of 3
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Valued Contributor

Re: High Balance > Credit Limit


brother7 wrote:

Upon reviewing my EX annual credit report, I noticed that my High Balance exceeded my Credit Limit twice in 2007.

 

Questions

  1. Does this negatively affect my credit score?
  2. If yes, will a CLI resolve the negative effect?
  3. If CLI is recommended, will it result in a hard or soft INQ?
Thanks in advance.

Unfortunately creditors will report in funny ways, like they will report your high balance as your credit limit when they two might be considerably different. I have a few of those myself and I can't get them to correct it, which I am sure IS hurting me in some aspects. Generally speaking for the periods in which it showed that, your util was higher and therefore yes, you took a hit but that shouldn't last forever, it will adjust to activity since then. Hope it helps.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


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