cancel
Showing results for 
Search instead for 
Did you mean: 

Pre Set Spending Limit vs Reporting Limit?

smo65d11
Regular Contributor

Pre Set Spending Limit vs Reporting Limit?

Regarding your FICO, What is better to have on a close-to-maxed-out card --- NO Pre Set Spending Limit or a Reporting Limit?

 

My credit reports show "0" credit limit on my AMEX, so is it basically the same reporting wise if I keep it at high utilization?

Message 1 of 4
3 REPLIES 3
Chopbrocoli
Established Contributor

Re: Pre Set Spending Limit vs Reporting Limit?

I am assuming you have an AMEX charge card. The thing is there is no utilization on those cards, all AMEX does is report your highest balance. However, FICO sees your highest balance as your credit limit.
AMEX Gold Premier Rewards | SPG AMEX | Bank of America Power Rewards | Merrill Plus | United Presidential Plus | Saks World Elite
Message 2 of 4
smo65d11
Regular Contributor

Re: Pre Set Spending Limit vs Reporting Limit?

sooo..... is it a good thing or a bad thing, does it hurt or help my FICO to keep a high balance on it?  I have had the card for 5 months and the credit limit has always showed "0", regardless of my balance.
Message 3 of 4
FretlessMayhem
Senior Contributor

Re: Pre Set Spending Limit vs Reporting Limit?

If the util on the almost maxed out card is greater than 80 percent I don't believe either situation matters. 80 percent util is scored the same as maxed out, as far as I can recall.
Here we go again...
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.