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CREDIT LIMIT VS HIGH CREDIT


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Posted by AUTOCRAT (66.255.17.83) on September 05, 2002 at 20:28:46:

Ok folks, first of all, I am very well versed at reading credit file's. I do it all day long, and have so for the last 16 years. My problem is, with my own credit file. I have a problem with my two Capitol One Credit Cards. One Visa, and the other Mastercharge. The problem is that for some untold reason, Capitol One doesn't report your credit limit. I treports your high credit. In other words, if you got a new card with a five thousand dollar limit, and you went and charged a balance of $869, the next time it was reported to the credit bureau's it would look like you had a limit of $869, and a balance of $869, wich in turn makes it look like you have maxed-out your limit. When in reality you still have $4131 available. Capitol One is the only credit card company that seems to do this. I called and got a supervisor, and asked why my credit limit was not being reported, and was told that they only report the highest credit ever used. I am highly pissed, due to the fact that a maxed-out credit card adversely effects your credit score. And I need some advice.
Thankyou for any help!
Autocrat


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