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@Anonymous wrote:I have had both of my cards for a while now, 4 and 2 years each I think it is... I called to ask them to remove an annual fee from the older account and they offered for me to combine the two right off the bat. I'm not so sure how they'll feel about it with you opening a new account and then asking.
@Anonymous wrote:As far as I understand what happens is that the CRA's default to your highest reported balance as your credit limit. I actually made the mistake of exceeding my credit limits in the past and they were reported as such. So it seems as though I actually have a higher limit reporting than I actually have on the card, but generally speaking no they don't report your limit, so if you haven't charged anything on the card or only a small amount, and you have a fairly high limit you are not getting the full benefit of that limit.Hope that all makes sense.
@Anonymous wrote:
@Anonymous wrote:As far as I understand what happens is that the CRA's default to your highest reported balance as your credit limit. I actually made the mistake of exceeding my credit limits in the past and they were reported as such. So it seems as though I actually have a higher limit reporting than I actually have on the card, but generally speaking no they don't report your limit, so if you haven't charged anything on the card or only a small amount, and you have a fairly high limit you are not getting the full benefit of that limit.Hope that all makes sense.
That is so not fair to the consumers. A lot of people don't like to go even near their limit. If I started my credit life with Cap1 (and nothing else) and never spent more than $200 on it but have avail credit of $3000, how are they supposed to calculate your util? Don't get me wrong, they have great cust service skills, but this doesn't seem fair at all.