Comments on: Beware Credit Cards That Do Not Report Your Credit Limit to Credit Bureaus

By: Steve

Steve — Mon, 08 Mar 2010 17:35:55 +0000

Neither Citi AAdvantage Master Card nor Citi AAdvantage Amex report your credit limit. I saw the discrepancy and even disputed it via Equifax and the response was that they “are reporting the credit limit correctly.”

By: Steve

Steve — Wed, 25 Nov 2009 02:38:51 +0000

I’m in the process of purchasing my first home and I decided to check my free credit report to make sure there was nothing to prevent me from being pre-approved for a loan. I always pay off my credit cards in full and I had a FICO score of about 750 last year.

Turns out that my main credit card (citi) which has a $15,000 limit has been a “no preset limit” card the whole time I’ve had it and the other two credit cards I have combine to be a $3000 limit.

So this past month I made a couple big purchases and my bill on the “no preset limit” card was $4000, which I paid off when the bill came. However, when I got my credit report back, it reported the previous $4000 bill and due to that it has my current debt to income ratio as over 100% because the “no preset limit” card does not report the “High Credit” or “Credit Limit” to the bureaus. Needless to say, I wouldn’t have qualified for a loan.

So definitely be careful of the “no preset limit” cards as it can be very harmful to your debt-credit ratio.

By: Max

Max — Sun, 18 Oct 2009 22:14:39 +0000

It is true that the cards that have no preset limit do not report your limit to the Credit Bureaus. But we all need to understand what the idea behind not reporting to Credit Bureaus is? With cards that have a limit, if you ever go over your limit, it would be reported to the Credit Bureaus as a negative reporting since you are over your limit. No preset cards allow you to charge without placing a limit on the account. So that whether you charge 5k, 10k or more, it still shows that you are within “the limits” that you have been authorized by bank. In addition to that the no preset cards do not have a over limit fees which is usually around $39.00. That is why it is important to educate ourselves. It is always easy to blame the system or someone else. Instead of blaming, if we learn the system, we can use it to our benefit. I think that Mr. David Weliver is doing a great favor by creating this page but I think an educational page should have both, the cons and pros and allow the reader to make that educational decision.

By: Dorsey

Dorsey — Wed, 16 Sep 2009 20:34:40 +0000

This may be the more conservative approach to this system but a good rule of thumb is to simply only get credit cards from companies backed by a bank you’ve heard of. Chase, Citi, BofA, etc…

These banks have too much to lose to try and employ these kinds of deceptive practices on a regular basis. If you can’t get approved for a card at one of these places then it is likely that you should not have a credit card right now.

By: Graeme

Graeme — Tue, 26 May 2009 23:25:29 +0000

My Chase Visa Signature reports highest balance only.

In a day and age where credit scores have become so important, it seems incredible to me that the companies are allowed to adversely affect people’s scores in this way.

By: Milos

Milos — Tue, 19 May 2009 18:44:16 +0000

Citi Aadvantage Platinum is the same story. Citit Aadvantage Bronze is the on you have to downgrade to in order for you to have a ’set limit’ instead of ‘revolving’ card – which would be reported. This downgrade would make me lose certain benefits – like going to the lounge…

UGH!

By: Andrew Genovese

Andrew Genovese — Fri, 01 May 2009 18:38:01 +0000

My Chase Visa Signature United card only reports the high balance, as you mentioned my AMEX Platinum does the same thing. My Diners Club MasterCard does not even report any information at all to the 3 credit bureaus. My Bank Of America NFL card does report the credit limit, as does my USAA Credit Card, as does my Discover Open Roads credit card.

By: Jessie

Jessie — Sun, 19 Apr 2009 09:46:10 +0000

I just ran a credit report and found that Chase Visa Signature and Citibank (American Airlines Mastercard) do not report the credit limit. Chase reports my high balance and Citi none at all.

By: Suzanne Stephens

Suzanne Stephens — Thu, 16 Apr 2009 22:49:53 +0000

I had a credit card for years with a 4,250 credit limit on it, paid it down to 0 in May 2008. Aspire closed the account in November 2008, then tried to charge me $85 annual fee. I contacted them and told them you cannot charge an annual fee on a card you have closed. After many calls, they reversed those charges.

On my credit report it shows that my credit limit was $185, not the $4250 it was when the account was closed, also stating that the account was closed by me (which it wasn’t), along with taking 5 years of excellent payment history. So, on my credit report it says that my credit limit was $185 with a highest balance of $3456.

I have contacted them and they refuse to correct the inaccurate information. They said the information would not impact my credit score. I tried to explain to them that in fact it would…because as it stands now, creditors will look at that account, see a credit limit of $185 and a highest balance of over $3000 which means that I am not responsible in not going over my “limit.”

Please tell me how to fix this. I have ALL of the documentation from them when the account was closed, my last billing stating $0 balance with $4250 credit limit, the backing out of the annual fee, and their letter stating THEY were closing the account.

Please help.

By: Pascal

Pascal — Tue, 14 Apr 2009 19:34:19 +0000

Dont get a bank of america credit card. Egregiously, they do not report your credit limit if your credit limit is over a certain amount: this makes no sense to me at all.