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Moderator Emeritus
psychic
Posts: 1,518
Registered: ‎04-20-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



Dawn wrote:


psychic wrote:


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.  :smileywink:


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...."
 
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."  :smileywink:

 


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.
EQ 814 / TU 815 / EX 842
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



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.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Moderator Emeritus
psychic
Posts: 1,518
Registered: ‎04-20-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

[ Edited ]


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.
 


I can't stop thinking about all of the World/Signature cardholders who are unaware that their cards aren't being reported correctly.  


Message Edited by psychic on 05-30-2008 07:26 PM
EQ 814 / TU 815 / EX 842
Valued Member
maestro
Posts: 48
Registered: ‎10-28-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

Cheddar, I do not appreciate the condescending tone of your remarks.
 
In my opinion, your approach and style tends to stifle discussion and my desire to participate.
 
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. 
 
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. 
 
I am not going to get into some silly back and forth with you about if this reporting is wrong, partially wrong or right.
 
The thrust of my point was to say that if you want your credit limit reporting for revolving utility then stay away from 'Signature' cards.   
 
 
 
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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

At the risk of getting my head shot off, I think that cheddar was saying that if the CCC's were willing to code these cards properly and report them using the correct code, they wouldn't hurt our scores.

Dawn did a lot of research on this about 6 months ago and found the correct reporting codes. I think she got Chase to use them for exactly one time, and then they reverted.

Very frustrating to know that it's doable by the CCC's, but they can't or won't do it!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



maestro wrote:
Cheddar, I do not appreciate the condescending tone of your remarks.

I do not apologize for my remarks, tone or otherwise.  I see nothing wrong with what I posted.
 
Frankly, your original post, the post I responded to, had quite a condescending tone.  It really came across as if you were chastising anyone who would complain about the way these cards report.
 


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. 
 

My reply above is only the second time I have responded to a post of yours.
 
Semantics, perhaps, but semantics are important.  The distinctions I have made in the two times I have ever responded to your posts are vital.
 
1) In an earlier thread, you said a PFICO score is a FICO that scores revolving and charge card debt.  I posted a reply to your comments in order to clarify the point that a PFICO scores all items on a report, giving more weight to revolving accounts.
 
2) In this thread, you made the claim that these cards do not report incorrectly.  Once you have introduced the discussion of incorrect vs. correct reporting, it is not unreasonable for others to challenge your position.
 
The CDIA Manual provides a standard for CRA reporting of any account type you can think of.  There is a standard for "no preset spending limit" cards.  The way Chase reports these cards is not in accordance with that standard.  What I posted above in response to your post, the these cards do report incorrectly, was not my opinion.  It is a matter of fact, in the context of industry standards.
 


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. 


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:
I am not going to get into some silly back and forth with you about if this reporting is wrong, partially wrong or right.
 

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.
 
Again, I make no apologies for my remarks earlier.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Valued Member
maestro
Posts: 48
Registered: ‎10-28-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

Who cares if you apologise. I wasn't expecting one.
 
Your role should be to moderate and facilitate discussion, and not argue with members.
 
Your response is quite defensive and certainly not an attribute one would expect of a moderator.
 
 
 
 
 
 
Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

[ Edited ]
I actually like the fact it doesn't report my limit... and it hasn't hampered my FICO as it reports as an "open" account. If you need a card for utilization, apply for another card(s). The perks of the signature card should not be discounted.

Message Edited by FaircreditguyFL on 05-31-2008 02:44 PM
Frequent Contributor
krystofur
Posts: 387
Registered: ‎08-10-2007

Re: Chase wanted to automatically upgrade my card to dreaded Freedom Visa Signature card!!!

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.

Moderator Emeritus
psychic
Posts: 1,518
Registered: ‎04-20-2007

Re: Chase wanted to automatically upgrade my card to dreaded Freedom Visa Signature card!!!

Right now, I could apply for a no pre-set spending limit card as an additional card, and it wouldn't hurt me.  What would hurt me is having scores in the 800s and obtaining new credit. 
EQ 814 / TU 815 / EX 842

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