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.