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@FinStar wrote:Oh galahad... still stuck in nostalgic memories?
This varied by lender btw. Most, if not all of my VS and WMC/WEMCs with the Flexible Spending coding always reported accordingly. BOA, for instance, was one of the last few lenders (a couple years back IIRC?) that adopted the new reporting practice with their VS, WMC and AmEx (Flexible Spending) cards across the board.
As far as DIners Club, I'm not sure if the previous (charge or revolvers) products are going to follow suit with the most recent consumer cards that were launched (and discontinued) during 2014. There are still plenty of lenders that do not report some tradelines - this could be more or less at the discretion of the lender and product type or specific regulatory guidance. For example, the JPMorgan Select and Palladium CCs do not report to the CRAs (unless a cardholder's account is delinquent). In the non-bank card arena, the John Deere revolving/financing product also does not report. Likewise, PayPal Credit (aka BillMeLater) falls into that same criteria for private label.
Many thanks for the helpful info FinStar! Alas, I fear that I may still indeed be rather nostalgic, for the credit card practices of yesteryear, especially prior to CARD Act...it has taken quite a lot of time getting used to the new normal and the new rules of the game, admittedly...
I know what you are talking abotu galahad15. There are even articles on the web that say how Visa Signature cards are bad, because it used to be that they only reported your high balance, and it could actually hurt your score.
@Anonymous wrote:I know what you are talking abotu galahad15. There are even articles on the web that say how Visa Signature cards are bad, because it used to be that they only reported your high balance, and it could actually hurt your score.
+1
I remember reading about that... it seems that when the Signature cards first came out, issuers would report the new balance but not the revolving credit line amount, so some scoring models would treat it as if it were 'maxed out' even if it wasn't.
Basically they tried to report similar to an Amex charge card, but some models didn't treat it like a charge account since with a Signature account revolving is possible.
Ah, the good 'ole days...