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Their Are Credit Card Companies
Their are credit card companies like capitol one, for example, that will only report the high used credit, not the high limit .why is this bad and how can it hurt youit’s bad because it doesn’t give full picture of your credit worthiness or allow other possible vendors with better offers to know that you have certain credit limit’s already, you may have them, but never used them the next problem is that one factor in determining a credit score is your balance:available(b:a) ratio most scoring algorithms favor a 30% or lower number on credit cards, for example so, you could have a $3000 limit on your cap one card but never charged more than $800 on it and maintain a $500 balance or so instead of showing as a very low ba ratio, it shows a very high one actually lowering the score or at least not increasing it as much as it should so, if you have cards like that, you may want to try and call them to see if they will update record, tell them why or go on a spending binge one month, run the limit up with your normals bills and pay off next month so as not to disrupt budget this will now show a higher limit and lower balance!
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