| Comment Number: | 522110-00040 |
| Received: | 5/18/2006 2:12:05 PM |
| Organization: | |
| Commenter: | C Tucker |
| State: | KS |
| Subject: | Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies |
| Title: | Advance Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Parts 660 and 661 |
| No Attachments |
Comments:
l believe that a system should be in place that requires companies to accurately report ALL information regarding a particular account. This may be the current rule, but it is not being followed. Not only should this include information such as payment history, date opened, and such, but also the CREDIT LIMIT of the said account. By listing an account with no credit limit, the credit card company is keeping the consumer for benefiting from the effects of low credit utilization, thus damaging the consumers FICO scores and in many instances, preventing them from gaining additional credit. Several companies (Capital One being at the top of the list) simply REFUSE to report an accounts credit limit regardless of the consumer requesting the the limit be reported. If an account is going to be reported, it should be with the requirements that the account be 100% accurate in all ways, shapes and form. Thank you