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Is this secured CC reporting correctly?

Established Member

Is this secured CC reporting correctly?

Hey folks, I have a $500 secured CC with TD Bank. I noticed that it is reported differently across the 3 CRAs.

For EQ and TU, it is listed as a revolving account with a $500 limit, high balance $134, and balance of $67 (phone bill), monthly payment $35 (this is actually annual fee).

For EX, it is listed as a secured loan with a limit of $134, high balance and balance of $67, monthly payment $35.

 

The $134 is because one time I paid 2 months phone bill within one statement cycle. I always pay in full by the due date.

What i'm concerned about is that the way it is listed in EX, it doesn't look as favorable as it does with EQ and TU.

 

Does it matter? Should I contact TD Bank about this and ask them to revise the information? Should I just use the card to the max just one time and pay it off?


Starting Score: (USAA FAKO scores)
ex:579 eq:585 tu:603

Current Score: (7/2012) ex: 585 eq:663 tu:603
(8/2012) ex: 657 eq: 673 tu: 671

Goal Score: 850+


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2 REPLIES
Established Contributor

Re: Is this secured CC reporting correctly?

I doubt td bank is reporting anything different, it's really a question for EX why they report it that way. If they don't change, you could charge a bit one month in order to get a higher high balance (assuming this won't negatively affect you in some other way, like if you are applying for credit that month) since it seems that is what they are reporting.

 

I didn't know TD had credit cards, never heard much about them. I have a canadian account and a brokerage account with them, anything interesting about their credit cards I can look into?

 

 

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Established Member

Re: Is this secured CC reporting correctly?


compassion101 wrote:

 

 

I didn't know TD had credit cards, never heard much about them. I have a canadian account and a brokerage account with them, anything interesting about their credit cards I can look into?

 

 


Other than 5% cash back on "eligible purchases" for the first 6 months, nothing too interesting. I decided to open the secured card with them as they were the only bank near me that I hadnt had bad history with, and cheaper Annual Fee compared to BofA. 24/7 customer service was a plus too.

Just called and found out that it can be graduated to unsecured through a new application after two years! yikes!

 


Starting Score: (USAA FAKO scores)
ex:579 eq:585 tu:603

Current Score: (7/2012) ex: 585 eq:663 tu:603
(8/2012) ex: 657 eq: 673 tu: 671

Goal Score: 850+


Take the FICO Fitness Challenge
Message 3 of 3