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New Contributor
Posts: 52
Registered: ‎05-20-2007
0

No Credit Limit Reporting

I have 2 Capital One cards and they both report, on all three credit reports, either credit limit not available or not reported.  The total credit limit between the two cards is $3500.  Would this effect my credit score? 
Regular Contributor
Posts: 109
Registered: ‎08-08-2007
0

Re: No Credit Limit Reporting

Yes, even more so if you carry a balance on the card. It will report as 100% UTL.
New Contributor
Posts: 52
Registered: ‎05-20-2007
0

Re: No Credit Limit Reporting

I called Capital One to fax me a letter that states the credit limit so that I may submit it to the credit bureaus.  One has a $3000 limit that has a balance of 1500 and the other one has a credit limit of only $500 and the balance is $0.  Do you think this will hurt or help my score? 
Regular Contributor
Posts: 109
Registered: ‎08-08-2007
0

Re: No Credit Limit Reporting

They way I understand it is the CRA will use your high balance as your CL. If you have never charged more than 1500 on the one card you are at 100% UTL -- Very Bad. Having the Cl reported right will lower your UTL --- Good thing.
 
I have read here that Cap 1 will start reporting CL soon.
 
It should be good for your score to have correct Cl reported.
 
Hope this makes sence (or cents) ? ---cool play on words huh?Smiley Very Happy
New Contributor
Posts: 52
Registered: ‎05-20-2007
0

Re: No Credit Limit Reporting

Your great!  Thanks for replying.
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Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: No Credit Limit Reporting

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