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Having a Credit Card Company Not Report Your Credit Limits

Having a Credit Card Company Not Report Your Credit Limits

All major credit card companies usually report your card balances

and payment history to the “Big Three” credit reporting agencies – Equifax, Experian and TransUnion. But in some cases, credit card issuers don’t report your credit card limits – or the maximum amount you could charge – to the credit bureaus.

Having A Credit Card Company Not Report Your Credit Limits

When your credit limits aren’t reported, as could be the case for consumers who have no-limit credit cards, your credit scores could suffer. The reason: Without an indication of your credit limit, most credit scoring models – including the FICO score and the Vantage Score – don’t know how to properly calculate your credit utilization rate.

Having A Credit Card Company Not Report Your Credit Limits

As I explain in my book, Perfect Credit, navigating the credit-scoring universe isn’t always logical, fair or easy. Unfortunately, though, the system is what it is.

Having A Credit Card Company Not Report Your Credit Limits

So it’s up to consumers to know the written and unwritten rules about credit in order to survive and beat the complex, often frustrating, world of credit scores.

Having A Credit Card Company Not Report Your Credit Limits

Sound off on this topic: Do you think the credit scoring system is fair? Why or why not?

Having A Credit Card Company Not Report Your Credit Limits

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