topic Re: Any definitive data out there on whether Blispay is a Hidden TL or not? in Credit Cards

Any definitive data out there on whether Blispay is a Hidden TL or not?

galahad15 — Sun, 24 Apr 2016 16:04:31 GMT

I've been following the latest developments on the forum about the Blispay card, and have myself received a Blispay card a few days ago. One of the questions I think was raised a few times but I am not sure if it was definitively answered was if Blispay is a hidden TL or not. After browsing and searching the forums, I found at least one thread that seemed to indicate or hint at that Blispay is indeed a hidden TL, but was just wondering if anyone has any information or knows for sure yet if that is the case?

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Discover2016 — Sun, 24 Apr 2016 16:26:32 GMT

@galahad15 wrote:
I've been following the latest developments on the forum about the Blispay card, and have myself received a Blispay card a few days ago. One of the questions I think was raised a few times but I am not sure if it was definitively answered was if Blispay is a hidden TL or not. After browsing and searching the forums, I found at least one thread that seemed to indicate or hint at that Blispay is indeed a hidden TL, but was just wondering if anyone has any information or knows for sure yet if that is the case?

I believe Blispay only reports to Experian.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Burned2manybridgesB4 — Sun, 24 Apr 2016 16:53:45 GMT

Since this is a new kid on the block as far as cards go....

Difinitve answers for reporting won't be confirmed until after three months, when a CC typically shows at the latest.

Has anyone confirmed Bpay showing up at all on any CRs so far? I'm 0/3 so far.

If they're watching costs, they might not report until there's usage, and only update when there is monthly usage, like some other lenders.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Themanwhocan — Sun, 24 Apr 2016 19:44:23 GMT

@Discover2016 wrote:
@galahad15 wrote:
I've been following the latest developments on the forum about the Blispay card, and have myself received a Blispay card a few days ago. One of the questions I think was raised a few times but I am not sure if it was definitively answered was if Blispay is a hidden TL or not. After browsing and searching the forums, I found at least one thread that seemed to indicate or hint at that Blispay is indeed a hidden TL, but was just wondering if anyone has any information or knows for sure yet if that is the case?
I believe Blispay only reports to Experian.

No-one knows anything yet, this is all speculation.

One person asking a strange question to a CSR and getting an answer of "only experian" is much more likely to be the CSR thinking the caller means what credit reports are pulled for an application. After all, why would a CSR for a brand new credit card be trained to know what credit reports a card reports to?

Blispay is not showing on any of my credit reports, as of yesterday. So there is no way to know anything at this time. And no reason to suspect anything out of the ordinary is likely to occur.

"we only report to experian". "We only use Experian reports". These answers are very easy for a brand new CSR from a company that just started issuing their first credit card a few days ago, to get totally confused.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

JamP — Sun, 24 Apr 2016 21:01:55 GMT

Haven't gotten a due date on my regular purchases yet.

My Income Tax payment shows due in October though.

No statement yet.

It hasn't reported to any of mine yet.

I am sure we will find out soon enough.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Anonymous — Sun, 24 Apr 2016 21:29:46 GMT

Interesting post ... I'll be following along as I am very interested how this one will report or if it may have payment posting or reporting issues out the gate and for that reason, I'm watching and waiting before I consider using my new Blispay ... it took at least 2.5 weeks (maybe longer) to come in the mail ...

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Coolermaster007 — Sun, 24 Apr 2016 23:29:34 GMT

This will most def.report to all 3 as something it wont be hidden the question I'm asking how is it going to report to the bureaus Revolving**(like normal cards) Or as an Installment Loan* now that would spice things up a bit pushing me into getting it as I dont have any current loans on my reports.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Anonymous — Mon, 25 Apr 2016 00:14:30 GMT

I guess we will see after the first statements come out, which could be in the next 10 days or so, I would imagine..

interestig fact, mine has not shown up as a new account on any CR

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Anonymous — Tue, 17 May 2016 02:00:52 GMT

Anybody get a statement yet or had this pop up on bureau??

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

fltireguy — Tue, 17 May 2016 02:26:17 GMT

not here.. and, I was approved on the 2nd day the card was available...made a purchase a few days later.... got my first statement, nothing showing yet

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Anonymous — Tue, 17 May 2016 02:26:57 GMT

@Anonymous wrote:
Anybody get a statement yet or had this pop up on bureau??

Yes there have been people who have gotten statements over 10 days ago, but still no reports of it being reported to the bureaus yet. See this thread: http://ficoforums.myfico.com/t5/Credit-Cards/Got-my-first-Blispay-statement-CASH-BACK/m-p/4580092/highlight/true#M1324419

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

B335is — Tue, 17 May 2016 05:57:46 GMT

One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Ysettle4 — Fri, 01 Jul 2016 21:29:09 GMT

@B335is wrote:
One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.

Some have recieved their 3rd statement and still no reporting to the CRAs. Possbly safe to say it is a hidden TL.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Anonymous — Fri, 01 Jul 2016 22:30:01 GMT

@B335is wrote:
One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.

A little off topic but not. What is the appeal of a hidden TL? As far as I can tell the only benefit to it is to be irresponsible with it (i.e. keep it near limit, pay late, etc.). I'm sure I'm missing something about it, I just don't know what.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Gmood1 — Fri, 01 Jul 2016 22:36:34 GMT

@Anonymous wrote:
@B335is wrote:
One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.
A little off topic but not. What is the appeal of a hidden TL? As far as I can tell the only benefit to it is to be irresponsible with it (i.e. keep it near limit, pay late, etc.). I'm sure I'm missing something about it, I just don't know what.

Really? lol

If you're irresponsible with it, it will report.

Hidden means you are allowed to use it without worrying about utilization or trying to keep it below 30% usage. I'm not one to pay on the same card 4 times a month, just so it doesn't report I used it. Honestly I find that ridiculous unless you just have to.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

SunriseEarth — Fri, 01 Jul 2016 22:53:27 GMT

@Anonymous wrote:
@B335is wrote:
One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.
A little off topic but not. What is the appeal of a hidden TL? As far as I can tell the only benefit to it is to be irresponsible with it (i.e. keep it near limit, pay late, etc.). I'm sure I'm missing something about it, I just don't know what.

I would disagree that keeping a card "near its limit" is a unilaterally irresponsible move. It can be, in some circumstances. However, it often isn't. If you typically spend $250 a month at Target, but your RedCard has a $300 CL, this may even be a regular occurence. However, being near your CL is a move that may appear "risky" to FICO.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Anonymous — Fri, 01 Jul 2016 22:59:26 GMT

@Gmood1 wrote:
@Anonymous wrote:
@B335is wrote:
One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.
A little off topic but not. What is the appeal of a hidden TL? As far as I can tell the only benefit to it is to be irresponsible with it (i.e. keep it near limit, pay late, etc.). I'm sure I'm missing something about it, I just don't know what.
Really? lol
If you're irresponsible with it, it will report.
Hidden means you are allowed to use it without worrying about utilization or trying to keep it below 30% usage. I'm not one to pay on the same card 4 times a month, just so it doesn't report I used it. Honestly I find that ridiculous unless you just have to.

+1 Gmood1 - you can't be irresponsible with a hidden TL or it will report and will no longer be hidden.

Besides the benefit of being able to carry higher utilization without it negatively affecting your credit scores, or just carrying a balance period without every other lender knowing about it (think about mortgage applications and DTI); hidden TLs also help those who may want to hide some of their CLs so that they don't get denied new accounts or CLIs from other lenders for having too much available credit in relation to their income.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

RonM21 — Sat, 02 Jul 2016 15:17:47 GMT

Someone mentioned earlier in the thread that maybe they don't report to save on costs. What I wonder is say after 9 months or so go by, and everyone has assumed it is a hidden TL, what fallout would there be if they suddenly started reporting without notice?

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Blodreina — Sat, 02 Jul 2016 15:54:50 GMT

@RM21 wrote:
Someone mentioned earlier in the thread that maybe they don't report to save on costs. What I wonder is say after 9 months or so go by, and everyone has assumed it is a hidden TL, what fallout would there be if they suddenly started reporting without notice?

I don't buy that. I think it will remain hidden; the only other product like it, PayPal Credit, does not report. People that worked on Bill Me Later/PayPal Credit are the people that started Blispay. What other cases have we seen (besides Diners) that did not report but now do? I don't know of any.

Re: Any definitive data out there on whether Blispay is a Hidden TL or not?

Themanwhocan — Sat, 02 Jul 2016 16:07:44 GMT

@Anonymous wrote:
@B335is wrote:
One statement cutting doesn't constitute whether it will report or not. The speculation around this is ridiculous.
A little off topic but not. What is the appeal of a hidden TL? As far as I can tell the only benefit to it is to be irresponsible with it (i.e. keep it near limit, pay late, etc.). I'm sure I'm missing something about it, I just don't know what.

Well, i'm going to spend the next month optimizing my utilization to see how much my FICO score improves, and possibly apply for a new card (NFCU). So, I need to get most of my credit cards to report 0, and have just my Better Balance Rewards card report to the Credit Bureaus.

An easy way to accomplish that, is to switch to using my Blispay exclusively. The BBR gets an automatic monthly charge, so i don't have to worry about that. So, I pay off all the other credit cards, and wait as my various credit cards report $0 over the next 4 weeks.

This is convenient, since if I keep using my various credit cards, I usually forget to stop using some of them far enough ahead of time so that I can pay them off on time. So, there is one non-standard use for a hidden tradeline.