OMG Chase Reporting CL on EQ for Sig Cards?

[Anonymous]

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@lakerfan2011 wrote:

yeah but it s hurts your credit score with no util ratio

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The high balance on a charge card hurts your score?  That doesn't make any sense.  If that were true, anyone who cared about their credit score would never use a charge card.  Aren't high balances permanent - as in they don't change until you charge a higher balance and are constantly on your report?

[Anonymous]

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@Anonymous wrote:

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@lakerfan2011 wrote:

yeah but it s hurts your credit score with no util ratio

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The high balance on a charge card hurts your score?  That doesn't make any sense.  If that were true, anyone who cared about their credit score would never use a charge card.  Aren't high balances permanent - as in they don't change until you charge a higher balance and are constantly on your report?

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+1

You are correct, high balances are permanent and only change if you charge a higher balance.

[android01]

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@Walt_K wrote:

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@android01 wrote:

Darn.  I liked having a credit line that didn't count for utilization.   

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Didn't it already count by using the high balance?  Or did they not report a high balance?

ETA:  Amex charge cards won't count on EQ and EX.  TU98 will count them.

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EX and EQ don't use the high balance for utilization, TU98 does.  The two NPSL cards I have both list high balance but no credit limit. 

[android01]

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@lakerfan2011 wrote:

yeah but it s hurts your credit score with no util ratio

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Being able to carry a high balance (if needed) on an NPSL card doesn't hurt my score via utilization if it's not counted, which is why I like having a couple of these types of accounts.  Now that Chase is going to become a regular revolving credit card with a credit limit,  I may have to shop around for another one that doesn't.   

[Walt_K]

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@android01 wrote:

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@Walt_K wrote:

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@android01 wrote:

Darn.  I liked having a credit line that didn't count for utilization.   

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Didn't it already count by using the high balance?  Or did they not report a high balance?

ETA:  Amex charge cards won't count on EQ and EX.  TU98 will count them.

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EX and EQ don't use the high balance for utilization, TU98 does.  The two NPSL cards I have both list high balance but no credit limit. 

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Are you sure about this?  I thought that cards that reported as Open, such as Amex charge cards, would not count for utilization at all on EX and EQ.  But that cards that reported as flexible spending cards, such as Visa Sig and World Mastercard, substituted the high balance for the credit limit for utilization calculations. 

[Scuba]

I checked my TU and it is now reporting 1 of the 2 Signature card balances.

MyFico score didn't change but my Vantage score (I check because Chase likes Vantage) went from 940 to 885.  Man, these numbers are all over the place with the littlest change

The only CB that doesn't show my Chase Sig CL is EX but they haven't reported yet this month and they are usually first.  It is an upside down world  

[android01]

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@Walt_K wrote:

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@android01 wrote:

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@Walt_K wrote:

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@android01 wrote:

Darn.  I liked having a credit line that didn't count for utilization.   

---

Didn't it already count by using the high balance?  Or did they not report a high balance?

ETA:  Amex charge cards won't count on EQ and EX.  TU98 will count them.

---

EX and EQ don't use the high balance for utilization, TU98 does.  The two NPSL cards I have both list high balance but no credit limit. 

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Are you sure about this?  I thought that cards that reported as Open, such as Amex charge cards, would not count for utilization at all on EX and EQ.  But that cards that reported as flexible spending cards, such as Visa Sig and World Mastercard, substituted the high balance for the credit limit for utilization calculations. 

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I'm pretty sure.  EQ and TU both list my Chase Visa (Sapphire) as Open accounts.  EX just reports it as a Credit Card, but still doesn't show a credit limit and doesn't seem to be counted in utilization. 

[Walt_K]

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@android01 wrote:

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@Walt_K wrote:

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@android01 wrote:

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@Walt_K wrote:

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@android01 wrote:

Darn.  I liked having a credit line that didn't count for utilization.   

---

Didn't it already count by using the high balance?  Or did they not report a high balance?

ETA:  Amex charge cards won't count on EQ and EX.  TU98 will count them.

---

EX and EQ don't use the high balance for utilization, TU98 does.  The two NPSL cards I have both list high balance but no credit limit. 

---

Are you sure about this?  I thought that cards that reported as Open, such as Amex charge cards, would not count for utilization at all on EX and EQ.  But that cards that reported as flexible spending cards, such as Visa Sig and World Mastercard, substituted the high balance for the credit limit for utilization calculations. 

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I'm pretty sure.  EQ and TU both list my Chase Visa (Sapphire) as Open accounts.  EX just reports it as a Credit Card, but still doesn't show a credit limit and doesn't seem to be counted in utilization. 

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Thanks for clarification.  I don't have an Visa Sigs or World MCs right now, so I couldn't look at my reports to try to figure it out. 

[Anonymous]

My billing cycle for my Sapphire Preferred ended and they posted to my CR, Chase is indeed reporting my $8k CL now...but my score went down by 17 points?!?  What gives?!?  I thought it would have gone up???  Also my utilization has NOT increased, I always PIF and my last bill with NPSL was $4200 and now with $8k CL reporting and $0 bill it goes down 17 points?!?  Anyone have an explaination, I don't have an idea why this would have happened???

[haulingthescoreup]

Finally happened on mine:

11/16/2011

Equifax- Account Information

The following changes were reported for your Chase Card Services account :
Comments on your account changed from Credit card to Amount in H/C column is credit limit