- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
That does seem odd. I have read several posts on here that say Signature cards do not report credit limits to the bureaus. I think I also read that in lieu of a credit limit, what actually gets recorded is the highest historical balance on the Signature Account. In this case the amount would be $345, your first and only, so far, balance.
So I'm GUESSING the credit bureau's algorithm is calculating your score as if $345 -- or some number close to it -- is your credit limit on this Signature account. I doubt there is anything you could do to intervene in this, and it's almost certainly not worth your effort.
I suspect that as you use the card the "credit limit" will keep getting bumped up at the credit bureau to whatever your historical high balance is at the time.
I have several Visa cards, all of them are Signature cards. I've never experienced anything like this myself, but maybe I just haven't noticed or checked my credit report/score at the right time.
As long as you're not applying for a car loan or mortgage and your credit score is at least good, I wouldn't worry about this. It seems like a "problem" that will fix itself.
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