Reply
Regular Contributor
Posts: 143
Registered: ‎08-26-2009
0

Credit Card Reporting CL question

I just got a pretty decent increase on my Kays CC. The only thing I was wondering was if being the card has no balance, I dont get a statement. And since i dont get a statement, will they not report the new CL until i purchase something on the card and get a new statement? Is this true or false, or will they report the new CL anyways? I know normaly this wouldnt be an issue because you could buy something small and just pay it off, but this is kind of hard to do this at Kay Jewlery. My UTIL is 13% so I was hoping to bring it under 10% with the CLI.

Starting Score: TU-710 EQ-717
Current Score: TU- 732 EQ-726
Goal Score: 780 (for both)

Take the FICO Fitness Challenge
Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Credit Card Reporting CL question

[ Edited ]

Kylan1234 wrote:
I just got a pretty decent increase on my Kays CC. The only thing I was wondering was if being the card has no balance, I dont get a statement. And since i dont get a statement, will they not report the new CL until i purchase something on the card and get a new statement? Is this true or false, or will they report the new CL anyways? I know normaly this wouldnt be an issue because you could buy something small and just pay it off, but this is kind of hard to do this at Kay Jewlery. My UTIL is 13% so I was hoping to bring it under 10% with the CLI.

A statement is generated monthly if there are any types of changes such as CLI's, purchases and etc.  Your new CL will report when your next statement generates. You can expect to see the changes reflected on your EX report the day after your statement generates.  

Message Edited by DI on 11-01-2009 08:41 PM
Frequent Contributor
Posts: 368
Registered: ‎02-07-2008
0

Re: Credit Card Reporting CL question

[ Edited ]

I opened a Chase Amazon card in May and the initial CL was a whopping $400.

 

My first statement closing date turned out to be June 4th and I had used it twice and PIF'ed just in time. I used it in July but not in August. I got a statement July 4th and August 4th, but not September 4th. I'm not sure if it was exactly on September 4th but I logged into my account and they had raised the CL to $900. They even sent me a letter that they had reviewed my account and raised it.

 

I did not get a statement again until October 4th which showed the new CL. But they did report the increased CL to all the CB's in September, even though I did not get a statement for September.

 

 

 

 

Message Edited by jaysdad2k on 11-01-2009 10:06 PM
"Knowledge is of no value unless you put it into practice."- Anton Chekhov
4/11 TU 743 4/11 EQ 763
Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Credit Card Reporting CL question

I guess it matters if one elect to receive online statements over mail statements.  I don't see a reason for creditors to mail out a statement if there's no activity during the billing cycle.  On the other hand, if one is receiving online statements, they should get it a statement regardless .
Frequent Contributor
Posts: 368
Registered: ‎02-07-2008
0

Re: Credit Card Reporting CL question

[ Edited ]

These were all online statements, or non-statements.

 

This was my first Chase card, so I had no idea what to expect. When I saw the CLI, I kept watching for the statement to show as viewable, but it didn't. Then I got the letter telling me the CLI was real. The October statement showed the CLI. So I guess with this account, no activity generates no statement online or snail mail.

 

Message Edited by jaysdad2k on 11-01-2009 10:04 PM
"Knowledge is of no value unless you put it into practice."- Anton Chekhov
4/11 TU 743 4/11 EQ 763
Regular Contributor
Posts: 143
Registered: ‎08-26-2009
0

Re: Credit Card Reporting CL question

I understand that what the statement reflects is what they report to the 3 bureaus. But since I have no balance on the card, I get no statement, and since I get no statement, then they do not report any new informantion is what I was wondering. So in order for them to report the new statement, I will have to purchase something on the card, correct? I will not recieve a new statement until i do this, so does that mean they will not report the new CL.


Starting Score: TU-710 EQ-717
Current Score: TU- 732 EQ-726
Goal Score: 780 (for both)

Take the FICO Fitness Challenge
Regular Contributor
Posts: 143
Registered: ‎08-26-2009
0

Re: Credit Card Reporting CL question

I went online to view past statements and it shows my last statement of when the CC was paid off in June as 0. So I have not had a new statement since June.

Starting Score: TU-710 EQ-717
Current Score: TU- 732 EQ-726
Goal Score: 780 (for both)

Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.