     Annmarie Ludlow (Momof3) | Tuesday, November 21, 2000 - 05:17 pm 
I have been very concerned with this issue and I am wondering if anything can be done. Experian DOES not list your credit limit with Citibank. Citibank blames on Experian and vice versa. This really bothers me b/c I have a high creit limit with Citibank but with it not be reported it is not being considered in my overall debt ratio, therefore giving me lower scores from Experian. It is however reported to Equifax and TU. Is there anything that can be done to make them show this?? I thought agencies were supposed to report all and accurate information regarding consumers credit reports?? |
| Shylock (Shylock) | Tuesday, November 21, 2000 - 05:28 pm
Photocopy your statement from Citibank, highlight the credit limit and send it to Experian. Repeat a few times. Eventually it'll show up. |
| Don (Don) | Wednesday, November 22, 2000 - 06:33 am
I tried that. Experian actually had the nerve to keep the limit as zero and add a "Disputed by Consumer- Verifed" tag on it too. |
| Annmarie Ludlow (Momof3) | Wednesday, November 22, 2000 - 08:05 am
Yes I have been told that Citibank DOES not want limits reported due to client stealing by other financial institutions. yet it still appears on Equ and TU, hope they continue to report this. I mean don't they realize that this DIRECTLY affects on credit scoring through Experian!! It just burns me up how all my avaiable credit with them is not being entered into the ratio equation and that just plain stinks. I read an article how 35% of customers scores were inadequate due to them not reporting limits. |
| Patricia Holly (Househunting) | Wednesday, November 22, 2000 - 09:53 am
Have you considered making a couple of large purchases that you pay off in the next billing cycle to get your high balance up? This is what I did with Capital One. I maxed out the card one month to get the high balance up on the report since they refused to put the limit on the report. |
| Wes King (Cody) | Wednesday, November 22, 2000 - 01:41 pm
I had to charge my cards up to the limit and then pay them down to get the limits to show up. Not reporting the credit limit is a scam by the credit card companies to keep people from being eligible for lower rates. This is just another example of why the FICO system is a joke and can be manipulated by the credit card companies to keep people paying higher interest rates than they should. Obviously the credit card companies know the system well enough to manipulate scoring. Consumers should be entitled to the same information. |
| Annmarie Ludlow (Momof3) | Wednesday, November 22, 2000 - 02:00 pm
I agree this method is totally unfair to the consumer. I am very mcuh concerned b/c we are applying for a mortgage next year and this will hurt my scores with Experian. Like you explained the only way to get the limits to show is to charge up tha account and then pay it down, atleast this way it shows your high balance. But I really think that is not fair and we shouldn't have to do it and they shouldn't be able to get away with it. Your credit report is supposed show complete and accurate information and somehow banks and agencies are getting around that. |
| Shylock (Shylock) | Wednesday, November 22, 2000 - 02:40 pm
Citibank doesn't report high limits. I waited until I got a limit raise through Citibank and my next statement showed something like, "Congratulations, you got a higher limit and it's now $2,400" and I sent a photocopy of that, highlighted to Experian and I got it on.
Another possibility is to "make it easy" for the Credit Reporting Agencies to verify the information -- give them the (800) # of the customer service and they can call and put in your account number and the last 4 of your social security number and it'll read out all the information on the account. This makes their verification process extremely simple.
Perhaps it won't work the first time (sure didn't for me) but I eventually managed to get it showing my credit limit. |
| Annmarie Ludlow (Momof3) | Wednesday, November 22, 2000 - 03:42 pm
Thanks Shylock I will try that. My limits appear on my statements and appear on Equifax and TU, but not experian. I will give that a try and hope it works |
| Annmarie Ludlow (Momof3) | Wednesday, November 22, 2000 - 04:56 pm
Thanks again Shylock. May I ask when you addressed this issue with Experian, were you kind in your letter or rather formal etc. Just wondering if being kind yet to the point approach would work best??? |
| Shylock (Shylock) | Thursday, November 23, 2000 - 04:53 am
I tried multiple approaches. In the first letter I was just formal. "Dear Experian Representative: Attached please find a photocopy of my statement from Citibank with the highlighted credit limit. Please update your records accordingly." That letter failed.
The next letter I tried friendly along the lines of: "I know how difficult it is to verify this information as accurate or inaccurate so I wanted to make it as easy as possible for you. Just dial (800) xxx-xxxx and put in my account number xxxx-xxxx-xxxx-xxxx and the last four digits of my social security number. The customer service number will read out my exact credit limit and the amount that I owe. Thanks for helping me out on this and I appreciate your effort." That letter also failed.
The third time I tried calling and they told me that it had already been investigated and confirmed accurate and they refused to reinvestigate. I was going to conference call and prove what the limit was by calling the customer service number.
The fourth time I wrote formally again just an, "Attached please find a photocopy of my statement. As you can see I was just awarded an increase in credit limit. Please update your records accordingly." That letter worked. I don't know why, probably just luck of the draw and persistence. |
