To activate or not

[Anonymous]

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@AverageJoe1970 wrote:

Thank You. That's the information I was looking for.

Your guess is correct, I was pulling data from Credit Karma. I just looked at my Experian report (using myFICO montioring) and it does show the HP from Chase (interestingly Equifax and TransUnion do not show it).

Thanks JXR for the great information! Greatly appreciated.

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@Anonymous wrote:

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@AverageJoe1970 wrote:

When my student loan (oldest thing on my credit report) reported Paid in Full and closed last summer, as well as a recent auto loan. My Average Age of Accounts changed. So if those 2 loans affected my average age of accounts, would NOT activating this card re-adjust my credit history?

Chase did not do an HP... not sure why... but they didn't. I've had two auto leases and most recently an auto loan through them - which I paid off 2 years early. Dunno, I don't have any other cards through them.

The card is showing up on my credit report, but as I said, I haven't activated the card. It has credit line over 10K. I'm not worried about overall utilization numbers, because I pay my balances in full each month.

I'm not even sure why I applied - one of those "why not" moments. I just don't want to make a stupid move.

Thanks.

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Just a guess here, are you using Credit Karma to obtain your credit report info?

If so, Credit Karma only gives information from your Transunion and Equifax credit reports. If Chase filed an inquiry with Experian it will not show up on Credit Karma.

The Average Age of Credit History that Credit Karma gives is your Average Age of Open Accounts. If the account is showing on your credit reports then it is affecting your Average Age of Accounts (AAoA).

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Most credit cards only pull one bureau so thats why you ae seeing that there with the chase app. In fact Cap One seems to be the only credit card company to pull all 3 ..at least that I know of. 

[Anonymous]

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@AverageJoe1970 wrote:

Thank You. That's the information I was looking for.

Your guess is correct, I was pulling data from Credit Karma. I just looked at my Experian report (using myFICO montioring) and it does show the HP from Chase (interestingly Equifax and TransUnion do not show it).

Thanks JXR for the great information! Greatly appreciated.

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@Anonymous wrote:

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@AverageJoe1970 wrote:

When my student loan (oldest thing on my credit report) reported Paid in Full and closed last summer, as well as a recent auto loan. My Average Age of Accounts changed. So if those 2 loans affected my average age of accounts, would NOT activating this card re-adjust my credit history?

Chase did not do an HP... not sure why... but they didn't. I've had two auto leases and most recently an auto loan through them - which I paid off 2 years early. Dunno, I don't have any other cards through them.

The card is showing up on my credit report, but as I said, I haven't activated the card. It has credit line over 10K. I'm not worried about overall utilization numbers, because I pay my balances in full each month.

I'm not even sure why I applied - one of those "why not" moments. I just don't want to make a stupid move.

Thanks.

---

Just a guess here, are you using Credit Karma to obtain your credit report info?

If so, Credit Karma only gives information from your Transunion and Equifax credit reports. If Chase filed an inquiry with Experian it will not show up on Credit Karma.

The Average Age of Credit History that Credit Karma gives is your Average Age of Open Accounts. If the account is showing on your credit reports then it is affecting your Average Age of Accounts (AAoA).

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I'm happy I was able to help. 

[fury1995]

Not necessarily. A few years ago I inadvertently accepted a Credit One preapproval card and it arrived in the mail. When I got it and I realized it was not a Capital One card as I thought (logo), I shredded it. I never activated it and ignored all correspondence requesting I activate my new card until they stopped contacting me about the card and it never reported. Not once on any CR.

[Anonymous]

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@fury1995 wrote:
Not necessarily. A few years ago I inadvertently accepted a Credit One preapproval card and it arrived in the mail. When I got it and I realized it was not a Capital One card as I thought (logo), I shredded it. I never activated it and ignored all correspondence requesting I activate my new card until they stopped contacting me about the card and it never reported. Not once on any CR.

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The OP said the card is already showing on his credit report.

[takeshi74]

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@AverageJoe1970 wrote:

Does myFICO or some other organization offer services to help answer questions like these?

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This page:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Leads to a thread right here in the myFICO forums.  These forums are your "service".

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Calculating-Average-Account-Age/m-p/13256...

We've been telling you over the past 5 pages as well that not activating and/or closing will not increase your AAoA and that the damage was already done after you applied to open the account and the account reported.

CK also indicates that they only consider open accounts for their age calculations.  From the main page after you log in click My Credit on the left.  Scroll down on the page that comes up and you'll see:

Age of Credit History Medium Impact
The amount of time your credit accounts have been open, averaged across all of your accounts. Learn More

Click the Learn More link and you'll see:

Your age of credit history is calculated here by averaging the age of each of your open accounts.

[NRB525]

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@AverageJoe1970 wrote:

Thank You. That's the information I was looking for.

Your guess is correct, I was pulling data from Credit Karma. I just looked at my Experian report (using myFICO montioring) and it does show the HP from Chase (interestingly Equifax and TransUnion do not show it).

Thanks JXR for the great information! Greatly appreciated.

---

@Anonymous wrote:

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@AverageJoe1970 wrote:

When my student loan (oldest thing on my credit report) reported Paid in Full and closed last summer, as well as a recent auto loan. My Average Age of Accounts changed. So if those 2 loans affected my average age of accounts, would NOT activating this card re-adjust my credit history?

Chase did not do an HP... not sure why... but they didn't. I've had two auto leases and most recently an auto loan through them - which I paid off 2 years early. Dunno, I don't have any other cards through them.

The card is showing up on my credit report, but as I said, I haven't activated the card. It has credit line over 10K. I'm not worried about overall utilization numbers, because I pay my balances in full each month.

I'm not even sure why I applied - one of those "why not" moments. I just don't want to make a stupid move.

Thanks.

---

Just a guess here, are you using Credit Karma to obtain your credit report info?

If so, Credit Karma only gives information from your Transunion and Equifax credit reports. If Chase filed an inquiry with Experian it will not show up on Credit Karma.

The Average Age of Credit History that Credit Karma gives is your Average Age of Open Accounts. If the account is showing on your credit reports then it is affecting your Average Age of Accounts (AAoA).

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Geezzz! What an exasperating thread!

OP you get a 10K limit card and you are annoyed it is not adequate? That's really... strange.

I'm glad someone was able to get through here.

[AverageJoe1970]

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@NRB525 wrote:

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Geezzz! What an exasperating thread!

OP you get a 10K limit card and you are annoyed it is not adequate? That's really... strange.

I'm glad someone was able to get through here.

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The credit limit of the card had asbolutely no bearing or relevance to the question originally posted. I'm sorry you missed that part. Exasperating? Absolutely - because there was missing elements/information. Fortuantely JXR was able to help w/ the clarity.

[racer-x]

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@AverageJoe1970 wrote:

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@NRB525 wrote:

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Geezzz! What an exasperating thread!

OP you get a 10K limit card and you are annoyed it is not adequate? That's really... strange.

I'm glad someone was able to get through here.

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The credit limit of the card had asbolutely no bearing or relevance to the question originally posted. I'm sorry you missed that part. Exasperating? Absolutely - because there was missing elements/information. Fortuantely JXR was able to help w/ the clarity.

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For future reference, it's good to know what creditor pulls what reports.

You may have fewer  INQ's on a specific report, or another report may be thicker or cleaner, thus increasing your chances of approval and higher CL's.

It may not be an issue for you now, but it may help down the road.  It's just a tidbit of info that's good to know.

[NRB525]

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@AverageJoe1970 wrote:

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@NRB525 wrote:

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Geezzz! What an exasperating thread!

OP you get a 10K limit card and you are annoyed it is not adequate? That's really... strange.

I'm glad someone was able to get through here.

---

The credit limit of the card had asbolutely no bearing or relevance to the question originally posted. I'm sorry you missed that part. Exasperating? Absolutely - because there was missing elements/information. Fortuantely JXR was able to help w/ the clarity.

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A "disappointing limit" was the main reason you gave for not activating the card. The follow on step is proposed closure, the driver was the CL.

After slow-revealing that, you provided no context of why $10k is disappointing. What are your other card limits? I'm not sure why you need more than $10k on Freedom, since the main benefit, the only real reason to have the card, the 5% back is limited to $1,500 of spend in an entire quarter.

You're free to close it of course. But if you want advice that is really relevant to your situation, you need to expand on explaining your situation.