Should I change my "Open" account to "revolving" account

[Anonymous]

I have a Chase freedom visa signature card. After reading several credit reports I noticed that most of my cards are revolving except this Chase Freedom.


The weird thing is that the total credit line is not shown on the report of this card and the only thing on report is current balance.


Question 1 "open" account is good or bad for my credit score 2 could I change it back to revolving account. Thanks.

Message Edited by vincentjones on 01-21-2008 03:26 PM

[Anonymous]

Another poster asked the same question. The reply was yes,  you could call Chase and ask them to report this as a revolving account, instead of open. Then your CL would be posted.

[Anonymous]

So, is open account better or worse? Thanks.

[Anonymous]

New at this, and it has been many years ago that I even had a signature card, or even cared what my credit scores were. Since the open account is only posting the highest limit you have used on the card, it figures into your utilization. If you need to lower uti, then I would change it to revolving.

[Anonymous]

I think I will switch and by the way, fine print said open account does not have grace period and something like you have to pay all balance and then get CL back, is that true?

[Anonymous]

OK, I called a Rep for Chase. He said the card could possibly be transferred to a different product. (Depending on if you want Cash or Point's as the other Freedom card offers)

He also said it does go by a case by case sceneiro, so, without me knowing your card number, I couldn't ask him to be more specific. He did seem very pleasant on the phone.

After hearing of the experience's of some of the CSR's, this one seemed ok.

I would call them and see how they can work for you. IMO, it never hurts to ask.

[Anonymous]

DW and I are in the same boat but our new card hasn't reported yet.  The statement just closed today so I'm going to try checking again at the end of the week.  For my back story check out this thread:

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=33792

This whole topic of signature cards not reporting CL's is a pain.  If they want to treat it as an installment then they should report it as an installment.  Oh well.  We're not sure what we are going to do yet.  We just product switched TO the signature card so we may wait and see for awhile.

On the plus side, we've just earned our first $18 in rewards!

edit: spelling

Message Edited by krystofur on 01-21-2008 04:30 PM

[Anonymous]

It has been my understanding that "Open" TL's are not calculated UTL

[Anonymous]

Thanks so much. I will call them and it is always good to get information from here before I grab my cell phone.

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@Anonymous wrote:

OK, I called a Rep for Chase. He said the card could possibly be transferred to a different product. (Depending on if you want Cash or Point's as the other Freedom card offers)

He also said it does go by a case by case sceneiro, so, without me knowing your card number, I couldn't ask him to be more specific. He did seem very pleasant on the phone.

After hearing of the experience's of some of the CSR's, this one seemed ok.

I would call them and see how they can work for you. IMO, it never hurts to ask.

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[Anonymous]

Let us know what happened.