11-11-2008 02:08 PM
In late 2005, I purchased a car using a Chase balance transfer check. In September of this year, I paid off that balance. As a result, this account shows a relatively high Largest past balance:
Currently, this a non-Signature Chase Freedom card. I contacted Chase today and was told that if I converted this card to a Signature Freedom, my credit history, including that $26,027 "Largest past balance" would remain unchanged. I was also told that I could take $4273 (the difference between my $30,300 Credit limit and the $26,027 "Largest past balance" ) of this credit limit and apply it to my other Chase card.
I never thought I'd ask this question: Should I convert to the Chase Freedom Signature card?
11-11-2008 02:16 PM
With it reporting the highest balance (which mine does), I don't see how it could hurt if you wanted to change it over.
Is it EX that gives us the grief with the Chase siggy cards?
11-11-2008 03:36 PM
11-11-2008 03:43 PM
Well, I got brave and deposited a $5k check into USAA from my siggy card when I first got it, so it reports a high enough balance that it shouldn't hurt me if something does slip and report one month. (Of course I turned around and immediately PIF)
Then I heard it is only one of the bureau's that it really affects UTL on and I believe it was EX. I still haven't let a balance report so I don't know if it is a huge factor or not, but covered the bases just in case.
11-11-2008 03:48 PM - edited 11-11-2008 03:56 PM
TU reports it like this:
Loan type [?] Credit Card
Credit limit [?] Not Reported
Largest past balance [?] $5,107
Terms [?] Not Reported
Account Type [?] Open Account
Account holder [?] Individual Account
Scheduled payment amount [?] Not Reported
My EX is reported like psychics first post. It is reported as OPEN on EQ, but I have SW via EQ's website.
11-11-2008 04:10 PM
11-11-2008 04:19 PM
I don't know how to post screenshots, but I just went back and looked on my EX report and for the credit limit, it states $0!! So it's not the same as psychic's exactly.
Oh well, I will just not carry any balances on this card, since I use it for my rewards anyway.
11-11-2008 04:21 PM
I don't know the answer to this, but I would point out that as I type I have a Beatles song playing on youtube in the next tab:
"Let it Be" - one of their greatest.
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.