04-29-2012 03:23 PM
I'm getting ready to apply for a mortgage in two months, and I wanted to get some guidance about CC statements and credit reports. I have a very small, low limit credit card ($300) that I have had for years, but it does not report to any of the credit reporting agencies. It won't help or hurt me in the mortgage process, I assume, but my question is should I report it or not on the application? I wasn't sure since it does not show on my credit reports. Also, what about Corporate American Express Cards. I have one that I use and pay off every month, but it does not show on my credit report since it is backed by my company. I'm just trying to determine what to do beforehand.
04-29-2012 04:07 PM
Strange that the card doesn't report to any of the bureaus. What kind of card is it (just curious). Regardless, I wouldn't even mention it if it's not reporting, unless you're needing non-traditional credit history.
My Corp Amex has never appeared on any of my reports, and my understanding is that even if it did, lenders wouldn't give it any weight (since ultimately you're an authorized user and (normally) don't manage the payments.
04-29-2012 05:08 PM
@pilarstacy... I would contact that credit card company, if you have good history, and ask their Customer Service why its not reporting to your Credit Reports.. They may have your social or address down wrong, or may have something misspelled in your file, or they may just not report on any of their users.
I would also be interested to know what type of card this is
04-30-2012 01:29 PM
It is called Milestone Webbank. It used to be something else (Pearl, I think) and it was given to me a LONG time ago when I was rebuilding credit. It used to show on my credit reports until it was transferred to the new group/name.
Thanks for the corporate card info as well. I was curious about that.
04-30-2012 05:05 PM
05-01-2012 02:46 PM
I agree with Webhopper. If this account can increase your overal length of history and maybe increase your AAoA thereby increasing your score it might be worth it to try and get it reporting. Or vice versa, if it shortens your AAoA, leave it alone.