04-14-2010 01:07 PM
I currently have a Chase World Mastercard and because it is a World card, it is being reported to the 3 bureaus as an open account with the largest balance reported. TU also has it listed as a credit card, not a charge card - and I noticed my TU score is lower than my EQ score, which does not have it listed as either or - so it seems that TU listing it as a credit card could be affecting my TU score?
My fico scores are just under 800 so having this "no-limit" card doesn't seem to be "hurting" my score, but if I switch to a card that reports the credit limit (ie: Chase Freedom), will this bump me over 800? This card is also my highest "limit" card (soft limit that is), so although it would help the utilization ratio if it was reported, could it hurt by showing too much available debt?
Oh, and the perks that come with the World card don't matter much to me. As long as I get reward points.
Thanks for your opinion.
04-14-2010 01:19 PM
While I don't know if too much credit will hurt future decisions, I would keep the card if you like it and run the reportable balance up fairly high one month to improve your util %
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