{"id":16381,"date":"2010-08-11T20:00:07","date_gmt":"2010-08-12T00:00:07","guid":{"rendered":"\/\/www.askmrcreditcard.com\/news\/?p=16381"},"modified":"2010-08-11T20:00:07","modified_gmt":"2010-08-12T00:00:07","slug":"zero-credit-limit","status":"publish","type":"post","link":"https:\/\/www.askmrcreditcard.com\/news\/zero-credit-limit\/","title":{"rendered":"Zero Credit Limit?"},"content":{"rendered":"<p>A reader asks:<\/p>\n<blockquote><p>Both Chase and Bank of America have upgraded me to Visa Signature Credit  Cards. \u00a0The information that came with both cards and the customer  service people tell me that I have credit limits of over $10,000.00 on  both cards.<\/p>\n<p>My Credit Reports from Experian, Equifax, and Trans  Union, all listed these cards as having a Zero credit limit. \u00a0I filed  disputes again with both Chase and Bank of America to no avail. \u00a0They say  that the credit limit on my Credit Report should say Zero. \u00a0However,  they still contend that I have a credit limit of over $10,000.00 on both  cards.<\/p>\n<p>So, this brings up several questions.<\/p>\n<p>How are  these credit cards affecting my credit score?<\/p>\n<p>Apparently, they  are listed as a credit limit of Zero. \u00a0So, they do nothing to raise my  available credit amount?<\/p>\n<p>So, I guess that canceling these cards,  as long as I owe nothing on them, will not affect my credit score?<\/p>\n<p>Thank  you for your time.<\/p><\/blockquote>\n<p>I am of the opinion that if you always pay your bills on time, you have nothing to worry about when it comes to your credit.\u00a0\u00a0 That said, mistakes do happen too often, and that should be your primary concern if you have a strong history otherwise.\u00a0\u00a0 Fortunately, this is not the kind of mistake you should be concerned about.\u00a0\u00a0\u00a0 Your total available credit is a very small component of your score.\u00a0\u00a0\u00a0 Hopefully, you should have other lines of credit and a good credit history, so this mistake should not matter much, if at all.<\/p>\n<p>If you are rebuilding your credit, than it is important to you that you are given credit for your credit, so to say.\u00a0\u00a0 I am surprised that the credit reporting agencies did not side with you on your disputes.\u00a0\u00a0 Documentation is key here.\u00a0\u00a0 You should have a copy of your last statement showing your credit limit.\u00a0\u00a0 You could also download statements from your bank&#8217;s web site.\u00a0 I would recommend resubmitting your dispute with a copy of your statement clearly showing your credit limit.<\/p>\n<p>If the reporting agencies truly believe you have a zero credit limit on those\u00a0 cards, canceling them should be inconsequential.\u00a0\u00a0 Finally, one other possibility that you might consider is that the zero limit is for the old card, and a new account number was created for the Signature cards.\u00a0\u00a0 That would explain why your limit is zero and the dispute failed.\u00a0\u00a0 Verify that the account numbers for the reported accounts match the account numbers for the new cards that you received.\u00a0\u00a0 Be sure to reference the actual account number, which can be different than the number on the credit card itself.<\/p>\n<p>Good Luck!<\/p>\n<blockquote><p><input id=\"gwProxy\" type=\"hidden\" \/><!--Session data--><br \/>\n<input id=\"jsProxy\" onclick=\"if(typeof(jsCall)=='function'){jsCall();}else{setTimeout('jsCall()',500);}\" type=\"hidden\" \/><\/p><\/blockquote>\n<p><input id=\"gwProxy\" type=\"hidden\" \/><input id=\"jsProxy\" onclick=\"if(typeof(jsCall)=='function'){jsCall();}else{setTimeout('jsCall()',500);}\" type=\"hidden\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A reader asks: Both Chase and Bank of America have upgraded me to Visa Signature Credit Cards. \u00a0The information that came with both cards and the customer service people tell me that I have credit limits of over $10,000.00 on both cards. My Credit Reports from Experian, Equifax, and Trans Union, all listed these cards [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zero Credit Limit?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.askmrcreditcard.com\/news\/zero-credit-limit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zero Credit Limit?\" \/>\n<meta property=\"og:description\" content=\"A reader asks: Both Chase and Bank of America have upgraded me to Visa Signature Credit Cards. \u00a0The information that came with both cards and the customer service people tell me that I have credit limits of over $10,000.00 on both cards. 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