Originally Posted by
vu0219
CRA can only report the information the creditors gave them. The scores are calculate at the time the scores are requested, with whatever balance reported to the CRA. Simple as that.
Some account only report the high credit limit (actual balance owe) because those are charge cards, they do not have credit limit.
1) CRA can and do produce custom data, which is based on reported data but calculated by them. That is a significant profit center for them.
2) Scores are calculated at various times. Sometimes on CRA cycling, sometimes on FI reporting updates, sometimes other dates. Normally they are not calculated on the date the data is requested by an inquirer. Much more foten the FI make their own calculation sand do not buy scores from the CRA.
3) "simple as that" Not so
4) please do not confuse charge card, credit cards and reporting conventions. One bureau reports high credit rather than limit for accounts with limits
BTW, the reports are known as 'trades' and include credit cards, charge cards, store cards, finance company loans, bank loans, car loans and leases, mortgages. Where credit limits are reported there can be a % utilzation reported. That may be unrelated to account cycling and maybe to reporting date, and may be original loan amount vs outstanding balance.
There is much more. Rest assured these are neither consistent, perfect, nor standardized. Generalizations are dangerous things.