I reviewed quite a few credit reports last week where the credit limit was either missing or incorrect.
Why is this important?
Because utilization looks at the balance and the credit limit. If the credit limit is missing or incorrect, what does that mean?
Your Utilization will be incorrect! This makes up the majority of the 30% Amount Owed section of FICO Scores. That's a LOT!
So… I know many of you primarily look at the negative accounts when working on improving your credit, but your open, positive accounts can contain errors that are negatively impacting your scores as well.
Hope this helps 🙂
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