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.
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.