Reply
Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Banks and their shady reporting habits

more they report = lower your credit score = more subprime practices they can enforce. Regardless a GE card is a store card, and should be used at a minimum.

 

 


mmmagique wrote:

Duncanrr wrote:
ive had the card for a month and Walmart already did this to me. I had to call them to release available credit. I think I'll only use card in first two weeks of billing cycle and then send in payment. I don't trust them. Are all GE cards like this?

It's been my experience that they are. They *really* want to report a balance. I have no idea why. 


 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
Posts: 139
Registered: ‎07-31-2012
0

Re: Banks and their shady reporting habits

From my experience once I get a new credit card the creditor reports it in about 2 weeks. Payments get reported on the same day every month regardless if I PIF or carry a balance. For my personal loan it took 1.5 months before it first got reported and then it hasn't been consistent on reporting when I make a payment, it reported on June, August and so far I am waiting. IMO, I see no reason for the creditors to report faster than usual if you charge a high balance or PIF, reports should be once a month and consistant.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Banks and their shady reporting habits

I think they do it to lower your score because a lower score equals more reasons to increase rates or aa.....
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.