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Don't worry about! I had my mother read me the letter and that's how I noticed its awkwardness. I think if you looked at the letter, you'd just read July 9. 2008 and Signature, and connect the two correctly.
Dawn wrote:
psychic wrote:
The letter should read "...effective July 9, 2008 your Chase Free Cash Rewards card...," not "effective Chase Free Cash Rewards, your July 9, 2008 Visa card...."
Dawn wrote:
Oh ... I did check the spelling of that one questionable word and Merriam-Webster online says it can be either way, so I left it alone.
I moved the (sic) notation in my original post to clarify.
Sorry to confuse things Psychic. I was referring to my use of "benefitting" vs "benefiting."The letter you referenced from Chase was truly "strange."
maestro wrote:
I do not think it is a matter of being reported incorrectly.Their policy seems to be that they report their 'Signature' cards that have no preset spending limit as an open line of credit with no credit limit reported.If you want a credit limit reported for your revolving utility then definitely stay away from their 'Signature' products.
I can't stop thinking about all of the World/Signature cardholders who are unaware that their cards aren't being reported correctly.
cheddar wrote:
maestro wrote:
I do not think it is a matter of being reported incorrectly.Their policy seems to be that they report their 'Signature' cards that have no preset spending limit as an open line of credit with no credit limit reported.If you want a credit limit reported for your revolving utility then definitely stay away from their 'Signature' products.
There is a proper way for cards with no preset spending limit to report, and these cards do not report that way. So it is a matter of reporting incorrectly.Amex charge cards report correctly. There's no reason Chase can't do the same.
maestro wrote:
Cheddar, I do not appreciate the condescending tone of your remarks.
My reply above is only the second time I have responded to a post of yours.
maestro wrote:
This the second or third time that after I have posted my view you go in and attempt to correct it. Your corrections are more about semantics than anything else. I do not need you to correct my statements in this way.
Again, yes, there is something fundamentally wrong about this. The industry standard dictates they should report otherwise, and Chase's failure to adhere to that standard negatively affects their cardholders' reports.
maestro wrote:
Chase reports 'Signature' cards that have no preset spending limit as an open line with no credit limit reported. There is nothing fundamentally wrong about this, except that people do not like it or are not aware of this policy.
So your opinion should be the last word on the matter, I suppose. Any response expressing a different opinion has now moved into the realm of "some silly back and forth." I understand. It is much easier to criticize the tone of someone's remarks than it is to address the content.
maestro wrote:
I am not going to get into some silly back and forth with you about if this reporting is wrong, partially wrong or right.
I also wanted to point out that my DW's Chase Freedom signature card reported correctly, as an open account with no preset spending limit. It was not included in her revolving utility calculation, as it was not supposed to. I had her change the card to a non-signature card because we wanted to take advantage of the CL, not because it wasn't reporting correctly. And I know she was in the vast minority of Chase card holders who had the card report correctly, but it should be said that "most" of these cards don't report correctly.