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Epic Contributor
Posts: 20,189
Registered: ‎03-19-2007
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Business Cards

[ Edited ]

I recently opened a new Chase Business Card with a 0% apr for one year.

I used it to pay off balances on other cards.


What I later discovered is that the Bus Card does NOT report to the CRA.  So it did not hurt my avg lenght of credit, and also substantially reduced my overall revolving %util.  Sure, it did not raise my CL, but it enabled my to substantially reduce my reported %util by reducing my balances on other cards.  A real benefit.

 

Am I missing something, or is this really the tremendous FICO boon that it appears to be?

 

Message Edited by RobertEG on 11-06-2008 06:15 PM
New Contributor
Posts: 52
Registered: ‎06-27-2008
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Re: Business Cards


RobertEG wrote:

I recently opened a new Chase Business Card with a 0% apr for one year.

I used it to pay off balances on other cards.


What I later discovered is that the Bus Card does NOT report to the CRA.  So it did not hurt my avg lenght of credit, and also substantially reduced my overall revolving %util.  Sure, it did not raise my CL, but it enabled my to substantially reduce my reported %util by reducing my balances on other cards.  A real benefit.

 

Am I missing something, or is this really the tremendous FICO boon that it appears to be?

 

Message Edited by RobertEG on 11-06-2008 06:15 PM

seems like it could be benifcial if you dont go overboard

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