Consumer complaint received 2024-10-15
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: EQUIFAX, INC. (MD)

Where to begin with this piece of XXXX  bank! For starters, my initial credit limit started at {$500.00} and has remained {$500.00} for almost 2 years now and when this concern was reported during a phone call to XXXX XXXX regarding a separate transactional issue ( i.e. fraudulent charges ), I was merely informed by an agent that I could request a credit line increase even after I had explained that a vast majority of banks ( i.e. 99.9 % ) complete credit line analysis/and reviews to determine whom is eligible. I opened this card in XX/XX/XXXX to aid with the home buying process and purposefully did not spend over 9 % of my balance each month, to be able to show low credit risk/and low credit card balances which resulted in my mortgage approval however, since I have opened this line of credit with this bank and have kept my balance below/or at 9 % of the approved credit line ( i.e. {$500.00} ), I have not been offered a credit line increase in lieu of not being asked about my reported income. For example, XXXX XXXX will ask you periodically if your income has changed relative to be considered for a future credit line increase as a credit card holder, however, XXXX XXXX does not operate under the premise and merely exist within a space where none of their banking products can compete/or compare amongst their peers. As a credit card holder, my expectations are not I receive a monthly statement that includes information in aggregate instead of having to use my digital wallet on my phone, which doesnt suffice relative to having access to information that drive decisions. At this point, the only documentation that XXXX XXXX provides each month is a transactional report, which merely provides you with the transactions completed during the month and completely excludes/and does not include your account balance, credit balance, payment summary, next payment due date, etc. Without this information, a consumer can only wonder how this information can be retrieved. Most recently, I discovered that XXXX XXXX has purposefully reported a high credit limit that ranges between {$400.00} to {$600.00} during the months of XX/XX/XXXX [ Quarter XXXX - XXXX ] to XX/XX/XXXX [ Quarter XXXX XXXX ] ; which doesnt seem to be coincidental considering my payments made towards my balance are reported accurately along with the actual credit card balance. Reporting inaccuracies purposefully is a violation of the ( FCRA ) Fair Credit Reporting Act and merely serves to intentionally impede on consumers having access to higher lines of credit which aids as a safeguard for the bank to alleviate taking on too much risk within any given fiscal year. A consumer should never have to deliberately ask for a line of credit increase, considering consumers are utilizing a product that is not a necessity but merely an option available based on their credit score, payment history, etc. Having this credit card has been a significant disappointment because I assumed that I would have opportunities to access more credit ( i.e. higher credit limit ) like I have had with other banks, but this has not been the case, even after I made the largest purchase in a consumers lifetime ( i.e. purchased a home for {$320000.00} in XX/XX/XXXX ). XXXX XXXX also was not able to verify fraudulent charges and on the day the charges was reported merely cancelled and provided me an updated card number, then called me XXXX week later at random just to tell me that they could not verify the fraudulent charges, after I had already been provided within this information during the initial phone call to report the charges.