Bank of America Visa Does NOT Report your Credit Limit

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The screen shot you see is from my Transunion credit report. As you can see Chase Visa Card reported to TU that my credit limit is $9000.

Chase Visa Credit Card Reports Credit Limit to Transunion

 

Now, as you can see in the screen shot below the Bank of America Visa Card does NOT report your credit limit to TransUnion or any of the other credit bureaus for that matter. Why is this a problem? One of the factors that influences your credit score is the ratio of your outstanding balance to your credit limit. Lenders like to see 30% or less.

So when Bank of America irresponsibly does NOT report your credit limit, there is no way a potential home mortgage lender can calculate  your ratio of what you owe to your credit limit. As you can see in the screen shot, zero dollars is listed as my credit limit as reported to TransUnion when, in fact, my credit limit is $16000 which would make my ratio less than 1/5 or 20%. That ratio would make me shine with respect to my FICO credit score if Bank of America would get off their ass and report my credit limit like they should!

I want to stress this is not the fault of TransUnion. TransUnion can only report the financial data that is sent to them. TransUnion does a great job of helping folks avoid credit card fraud or help if fraud or identity theft has occurred. They make it very easy to contest online fraudulent or erroneous items in your credit history. I have had a couple of things removed without having to talk to a TU agent because of their very well conceived online dispute system. Bank of America is dropping the ball and hurting their cardholders by not reporting maximum credit line allowed to its customers.

Bank America Visa Card does not report your credit limit to TransUnion
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10 comments on “Bank of America Visa Does NOT Report your Credit LimitAdd yours →

  1. Glad someone took the time to put this out on the web. I called Bank of America about the very same thing on my Visa card!! My credit limit is 8000 dollars, but when I look it up on FICO or Experian the report shows a credit limit of zero. This is a bigger problem than a lot of people realize.

    Your credit score is based partially on how much credit has been issued to you in your name and if Bank of America is not reporting your card credit limt to the credit agencies then you do not look as credit worthy as you should!!!

  2. We have had great experiences with Bank America Visa Card, but would like to warn potential new home buyers about MortgageLoan.com. Their WebSite has a way of luring you in to get your personal information.

    We typed in good credit and were looking to finance 250,000 while paying over 20% down. We typed in a zip code for north Dallas and the search for lenders turned up a big fat zero. That’s right……we typed in information that any reputable lender when normally jump on and mortgageLoan.com could NOT FIND A SINGLE LENDER! Our credit score is 780 which should get us the very best rates available!!

    Stay away from MortgageLoan.com!!! They get your personal information and then dump you. Do not give them your Social Security Number

    Odessa Permian and MOJO live forever!!

  3. Just got what appears to be a good explanation of why Bank America Visa Card does not report your credit limit to Experian, TransUnion, Equifax, or MyFICO:

    We certainly understand your concern. After reviewing your account, our records show that Visa Signature Credit Lines are not reported to the credit bureaus.

    As a flexible spending card, the credit limit may be exceeded without penalty. Reporting the credit limit could have an adverse impact to your credit score if the account balance becomes greater than the credit limit. Therefore, credit limits on Signature Cards are not reported to the Consumer Reporting Agencies.

    The above explanation came from a very competent and intelligent sounding Bank America service rep. My only concern is that my $17000 credit limit on my Bank America Visa is not being reported which makes it look like my overall combined revolving credit limit will be 17000 dollars understated!

  4. Just got the following reply from a Chase Visa Card agent answering the question: How often do you report credit history to the credit reporting agencies like Experian, TransUnion and Equifax? Getting your questions answered via Secure Message Center is much more effective in my view. You do not have to wait while being put on hold at a call center AND you have documentation in the event of some sort of dispute!

    We report information to the credit reporting agencies on
    the statement date each month. The information should be
    viewable on the credit report within 3 days, depending on
    the credit agency. Information reported includes balance,
    credit line, and payment history.

    If you have any further questions, please reply using the
    Secure Message Center.

  5. This is not directly related to this particular post, but our secured card was once put on hold or frozen even though the balance was less than the credit limit. We never got a clear answer from the capital one service rep. She kept saying something about verifying funds or waiting for the funds to settle.

  6. BOA sends your credit history to the credit reporting agencies on whatever your credit card statement date is. The reason that BOA does not report your credit limit to the credit reporting agencies is that you will never be denied a credit card transaction if you have no credit limit to exceed!

    BOA does report your highest balance to the credit reporting agencies which could be higher than any fixed credit limit! And NO not related to Mitt

    So be careful about slamming BOA for NOT reporting a credit limit to the credit reporting agencies.

  7. I have heard that Bank of America (bofa is not reporting my mortgage) does not report monthly mortgage payments to experian or any of the other credit bureaus. I know that pioneer bank reports your home mortgage info to all three credit reporting entities.

  8. Bank of America will not report mortgage payments to your spouse’s credit report unless it is a true joint mortgage. A joint mortgage is where both husband and wife qualify for their home mortgage which usually means you can purchase a more expensive home if you want. If your wife or husband is a joint tenant, the they have the right of survivorship and will get the house if you croak. However, joint tenants are ghosts with respect to credit reporting.

  9. Does visa have to notify customer if limit is exceeded? Answer: Credit card companies are not obligated to inform their customers if customer has charged past their credit limit. Customer should be financially responsible enough to know when they are approaching their spending limit. I believe American Express will just not authorize charges that exceed the credit limit.

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