VeeGee Posted June 7, 2003 Report Share Posted June 7, 2003 I recently got a Home Depot CC with a limit of $5500. I just looked on my CR's and the limit on my report says $500??? Should I just leave that alone...or should I contact all 3 bureaus and let them know my limit is really $5500, which they can easily confirm with Home Depot. What looks better on my report? Thanx Link to comment Share on other sites More sharing options...
Crabjoe Posted June 7, 2003 Report Share Posted June 7, 2003 VeeGee,Wasn't your original credit limit on the card $500? It might be that they reported your original before the increase. I'd wait a month to see if it updates again. Also I don't think the CRA will update your limit on your word. If they would, I don't think so many people would complain about Cap 1 not reporting the limit. Link to comment Share on other sites More sharing options...
VeeGee Posted June 7, 2003 Author Report Share Posted June 7, 2003 Thanx for responding crabjoe...yes, the original limit was $500. But right then and there in the store, I asked for a higher limit, and they raised it to $5500. They changed the amount on the application and put that in the computer. But I will wait the month and see if they update it. What I really wanted to know is...wouldn't it look better in the eyes of lenders if they saw a limit of $5500, instead of $500?Thanx again Link to comment Share on other sites More sharing options...
kb9tbq Posted June 7, 2003 Report Share Posted June 7, 2003 High Credit Limit is for the benefit of the scores being improved; lenders are of the opposite mind, meaning that too much credit is a worry for them that you could possibly get over extended.So it is a scale trying to even out what is best for the scores & what the lenders would like to see. Link to comment Share on other sites More sharing options...
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