- Centurion Member
- Posts: 410
- Joined: Wed Jun 04, 2014 1:06 pm
- Location: Chicago
As far as the credit limit like a credit card - I don't think so. For sure they do impose charging limit on charge cards, but that technically is not a credit limit.
They indeed report, however, the high balance which is the highest balance you ever had on statements.
Depending on the specific credit scoring model used, the balance you have on that account may not be factored into utilization so you don't need to worry about it. Generally new FICO models don't factor it, while some old models use high balance as credit limit and consider "utilization" on that account.
If it's me I would move on and not think about this too much. But if you are really worried then it is possible to charge a very large amount and get it reported so that would be "credit limit" for old models - not always a good idea, as 1) you may create a large debt to yourself and 2) you have to pay that balance in full by the due date.
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