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Open Credit Card Utilization Number is Calculated Inaccurately
The card utilization screen says it separate balances for cards that don't report a limit so "as not to affect your overall Credit Card Utilization." But it does affect the "overall" card utilization and can produce a grossly misleading figure. The card I have that did not report has a very high limit (more than the two other cards I use combined) and it has only a 4% utilization rate. Yet, based solely on the two reporting cards, I have a 69% utilization rate dragging down my score. That's misleading - am I missing something with this point? Anyone know if you can get my card to report my credit limit to the agencies? If not, this seems a huge flaw in the scoring system - it's not sufficient to separate out non-reporting cards. Anyway, thanks to anyone with any ideas. J
Asked by
Bartell
1 year ago
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NO you cannot make them. Alot of companies use this as a tactic to lower peoples scores and keep them with there company. Capital one was famous for giving unlimited credit lines and not putting a credit available line rather just listing the balance available as the balance you spent in essence leaving you with a maxed out card even though it is unlimited.
toledobill 1 year ago