Capital One No Limit Reporting- Utilization not being calculated right

[Anonymous]

Good Morning,I know the Experian PLUS score is a FAKO but I subscribe just to make sure that I can receive the credit alerts. I recently became an authorized user on my father’s card. It is a Capital One card. Under the high balance it is report $5800, but no credit limit. I also noticed when the account was added my plus score did not change. I saw on the front where it lists the free balance on revolving accounts and it says 0% free since no limit is reporting. I was just wondering if anyone else has this problem, and when the mortgage broker pulls the FICO Experian score, if the high balance will count towards my utilization. I would rather it show up as 2% utilization, rather than 100%. I guess I will have to wait until Equifax and TransUnion update to see how they calculate it with the no limit reporting.

[Anonymous]

Are you sure he has a signature account (no limit)?

Earlier this year CapOne failed to report a CL on my CapOne Ultra Pro card ($3k CL).  It only reported a high balance.  I called CapOne and filed a dispute through CapOne that my CR's did not properly report my credit limit.  CapOne investigated and then corrected the problem and my $3k CL has been reported ever since.  It took about 3 weeks for them to complete the investigation, respond and update.

Just a thought.

[Anonymous]

I guess it wouldnt hurt to give Capital One a call and see what is going on. The problem is that I am just an authorized user so I'm not sure they will even care. It was my understanding that the card did have a 6K limit. I suppose I will try, but it seems like I am not the only one with this problem with Capital One.

[llecs]

Where are you getting your PLUS score from? I ask because some 3rd party reports, like FCR or CCT, tend to mis-report, or at least for me anyway. There had been times that my CL wasn't visible. If you have a 3rd party service via EX, you should pull your EX report directly from Experian to see how that's reporting. Since you are getting a PLUS score, you likely can get your EX report for free. Take a look at it and see if it is reporting.

Also, PLUS scoring is screwy. Your FICO score can go up while your PLUS score goes down for the same event. PLUS scores score things that FICO does not. For example, CAs factor into your history, inquiries count for the full 2 yrs, and .....this is why your score didn't change: AUs aren't factored into PLUS scoring, from what I understand of it anyway.

[Anonymous]

Thank you for that information. I was using Credit expert. I think It is a 3rd party from Experian. I tried getting my score free but no luck with that. I think I am going to take your advice though and see if my report directly from Experian is reporting correctly. I have a feeling though that it will also be wrong. I had a feeling when my score didn’t go up or down that they did not consider authorized users in the PLUS score. It’s funny though because it still lowered my utilization.  I do understand the weirdness of FICO scores and PLUS scores. I guess I was just hoping to see at least the PLUS score to go up to give me some hope. Again, I say that I will probably have to wait and see when Equifax reports to see how it actually affects my FICO score. *Fingers crossed* I’m hoping it is correct.

[llecs]

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jgrosbauer wrote:
Thank you for that information. I was using Credit expert. I think It is a 3rd party from Experian. I tried getting my score free but no luck with that. I think I am going to take your advice though and see if my report directly from Experian is reporting correctly. I have a feeling though that it will also be wrong. I had a feeling when my score didn’t go up or down that they did not consider authorized users in the PLUS score. It’s funny though because it still lowered my utilization.  I do understand the weirdness of FICO scores and PLUS scores. I guess I was just hoping to see at least the PLUS score to go up to give me some hope. Again, I say that I will probably have to wait and see when Equifax reports to see how it actually affects my FICO score. *Fingers crossed* I’m hoping it is correct.

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To bad we can no longer pull our EX FICO score.

BTW, I THINK..., if you log into Credit Expert and look at your report, you have the ability to pull a free report directly from Experian. View your CE report and look for a "Dispute info" link or something like that. You don't have to dispute, but if you click through it, Experian will give you a free report which will have more info like better TL info, more contact info, drop off dates for baddies, soft inquiries, etc. Again, I think this is the case. It is for freecreditreport and creditchecktotal, which are both EX products.

[Anonymous]

So I pulled my report, but unfortunately Experian is still reporting the same way with no credit limit reported. I'm just going to hope and pray that when I go and apply for a mortgage that the high balance is used for the utilization.

[AndySoCal]

The bureaus have two fields high balance and credit limit. High balance is just the highest balance ever reported on the account. High balance can affect your utilization in some scenerios. For example if you have a credit card with the following data a balance of $200 High balance of $500 and a credit limit of $1000. If the high balance and the balance are only reported you utilization is 40% that card. If the balance and the credit limit is reported you utilization is 20% on that card.  It is something that should be corrected but I cannot see a big difference in the utilization calc on that card either way.