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How would a credit card with open limit affect the credit history.My new card company wont report max limit.? |
How would a credit card with open limit affect the credit history.My new card company wont report max limit.? When you don't have a high limit your score can drop slightly. It will eventually rebound. I believe this is cause by it looking like you are always maxing out your card. This happened to me. The best thing to do is transfer to another card within the same company that actually reports the limit. Make sure you request that you keep the same account number so that the only change on your credit report is a credit limit. Credit scores are based on formulas that include the % of total available credit you have used. For example if you have 20,000 of total available credit, and your average monthly balance is 1,000, then you score 5% on that section. When a company doesnt report the credit line, then this equation can not be computed. Sometimes the rating service will guesstimate what the max is. Not a good idea. At one time I called and had a Credit Card Company Put a $ 5,000.00 Credit limit on my card for saftey reason. so you can probably do the same or Call and ask why they won't report a max limit... It won't effect it all all. ------------------------------... http://www.bestcreditrates.net |
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