Utilization Reported High Even Though PIF

Credit and mortgage advice Forums Consumer Credit Credit Cards Utilization Reported High Even Though PIF

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 2 months ago.



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    Anonymous

    I don’t suppose that there is anything I can do about this, but I find it frustrating.

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    I use my AmEx (Costco) to pay all my monthly bills and personal purchases to get the cash back.* I have a monthlly bill that I always pay off completely every month in the $3,000 – $4,000 range.** But when AmEx reports this balance it looks like I carry a farily large amount of debt month to month when it really is $0.* Thus my Util shows as higher than it should and my CR is lower than it should be.

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    It seems to me that this wouldn’t be an accurate measure of my credit use for credit rating purposes.* Is there some reason that they couldn’t just report any amount that isn’t paid in full at the end of the cycle?

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    This combines with the vague way my Visa Signature reports (or dosen’t) credit limits for my*BOfA credit card.* I have a $17k limit on the visa and a $10K limit on the AmEx and the util should have been about 14%.* However, since the Visa Signature doesn’t report my actual CL, it got reported as more like 40% which really dinged my CR.

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    Oh, and back before I understood why my Visa Signature CL wasn’t being reported accurately I called a Bank of America rep and complained about it.* I wasn’t asking for an increase, but the little nit-wit gave me a hard credit check for my trouble.* That lowered my score even lower and really tweaked me.

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    I improved my util a bit by having my AmEx CL doubled to $20k.* (it was gratifying to hear the rep reveal that she didn’t think I would be approved by stating I should get a letter in the mail in 6-10 days, then abruptly*change her tune when it was immediately approved)*** However, as little as 15% affects my CR.* It lists it as one of my only baddies.

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    I’m more or less just venting here.* I don’t really think that they will change the way they report balances or CL. I’d just like to see my score go above 800.

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    bobebob* – myFICO Equifax 793



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