Chase Reported an Over the Limit to Experian

[Anonymous]

Flexible Spending account != Charge card.  You went over the limit, Chase allowed you over the limit.  As far as I know, Chase makes no promises about not REPORTING that you're over the limit.  Perhaps EX has an algorithm in place which automatically flags accounts as over the limit.  

As pissed off at Chase as I am (see Freedom new accounts in 2 years data), this is not their fault.

[Anonymous]

To follow up and I received the following information from Chase:

If I ensure my balance is under the limit for 3 billing cycles, then this report will be completely removed as if it never happened.

[Anonymous]

Exactly what the other members said. Pay it down etc. 

Two things to add:

1. When you pay it down and it comes time for your account review and CLI, it may be a good factor to giving you a nice raise since clearly 5K paid down was not enough.
2. Once you do get that CLI, the report will not matter to those that even take a close look, it will saying "highest balance $5015" and if you CL is 10K by then it will not matter.

Listen to the other members and try to keep it below 30% and good luck! 

[Anonymous]

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@Anonymous wrote:
To follow up and I received the following information from Chase:

If I ensure my balance is under the limit for 3 billing cycles, then this report will be completely removed as if it never happened.

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That is interesting.   Now, no idea if what you were told was true but if so this is an a negative different from normal utilzation issues, which would go away the next month.  Still, if three clean cycles make it disappear, not a biggie.

[Anonymous]

No worries. You'll be fine within a month or two once you've made a payment to reduce this balance. Don't get too wrapped up in watching your numbers on a daily basis. It will drive you crazy. I was doing just that and changing my spending/payment habits to the point that it got ridiculous. I was afraid to carry any balance, even a 10.00 charge, as I told myself: "I only want one card reporting, blah, blah, blah". While I try to keep it this way, I'm done worrying about a second or third CC reporting a small balance because the charge posted the same night as my statement closing. I'm trying to relax and not worry about these 5 - 10 point credit score swings.

[taxi818]

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@Anonymous wrote:
No worries. You'll be fine within a month or two once you've made a payment to reduce this balance. Don't get too wrapped up in watching your numbers on a daily basis. It will drive you crazy. I was doing just that and changing my spending/payment habits to the point that it got ridiculous. I was afraid to carry any balance, even a 10.00 charge, as I told myself: "I only want one card reporting, blah, blah, blah". While I try to keep it this way, I'm done worrying about a second or third CC reporting a small balance because the charge posted the same night as my statement closing. I'm trying to relax and not worry about these 5 - 10 point credit score swings.

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+1

flexible' more worried  its  maxed  out  than otl.

[Anonymous]

The same thing happened to me today, but with Discover. I have their secured card with $200 credit limit. I spent $229 and was planning to pay it back in full before the due date. I already paid in full 2 days ago. I received a notification yesterday saying that I went over the limit and my score went down 16 points.

I thought the banks only do one report a month and I thought they only report what's on your statement. I guess I was wrong.

[taxi818]

Normally they do. But many times they report if some exceptional happens. In ops case he has a signature card which allows you you go over the limit. Discover is not take kind of card. No way should you ever even get close to maxing it out. Especially a secured card. They may never graduate you. My goodness. The key is just using very minimally as it iis secured. I just don't understand. It's only 200. Why go over. And why not simply pay cash. And treat that card as untouchable. Good luck anyway.

[Anonymous]

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@taxi818 wrote:
Normally they do. But many times they report if some exceptional happens. In ops case he has a signature card which allows you you go over the limit. Discover is not take kind of card. No way should you ever even get close to maxing it out. Especially a secured card. They may never graduate you. My goodness. The key is just using very minimally as it iis secured. I just don't understand. It's only 200. Why go over. And why not simply pay cash. And treat that card as untouchable. Good luck anyway.

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Ok so the next day, my score went back up to what it was originally. Discover reported that my balance was $0 now. This is the first time I've seen a bank reports two days in a row.

[taxi818]

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@Anonymous wrote:

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@taxi818 wrote:
Normally they do. But many times they report if some exceptional happens. In ops case he has a signature card which allows you you go over the limit. Discover is not take kind of card. No way should you ever even get close to maxing it out. Especially a secured card. They may never graduate you. My goodness. The key is just using very minimally as it iis secured. I just don't understand. It's only 200. Why go over. And why not simply pay cash. And treat that card as untouchable. Good luck anyway.

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Ok so the next day, my score went back up to what it was originally. Discover reported that my balance was $0 now. This is the first time I've seen a bank reports two days in a row.

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It may be your first time seeing that. But not many of ours. Anytime you want chase to report. Just pay down to 0. Any part of the month. And they will report next day. Regardless when they did it last. I guess you keep trying and learning. Eventually you will see it all. But regardless what discover reports. If you are using secured. Your aim is trying to get it yo graduate. And going over the limit will never get you there. Good luck.