topic Re: OMG Chase Reporting CL on EQ for Sig Cards? in Credit Cards

OMG Chase Reporting CL on EQ for Sig Cards?

Scuba — Sat, 12 Nov 2011 16:19:27 GMT

Got an alert early this morning from EQ to a change from Chase. I figured maybe a CLI on my Freedom - that would be nice.

I have 2 Signature cards, and now both are reporting the CL, 15K and 22K and change to flexible spending. Sweet.

Ran my EQ MyFico and no change in my score now for 6 months - what a bummer.

I then went and ran my TU but no change in how they report. Continental and Marriott still report as a Sig Card with 0 CL. Strange but true.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

haulingthescoreup — Sat, 12 Nov 2011 16:33:03 GMT

IME, TU generally lags behind EQ in updates by 2-3 days. They have to finish changing the newspaper at the bottom of the bird cage first or something; I dunno.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

lakerfan2011 — Sat, 12 Nov 2011 16:34:50 GMT

i talked to the excutieve offices on this and as of nov 6th all credit acess lines will be reporting the credit limits on any chase account.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

haulingthescoreup — Sat, 12 Nov 2011 16:45:46 GMT

@lakerfan2011 wrote:
i talked to the excutieve offices on this and as of nov 6th all credit acess lines will be reporting the credit limits on any chase account.

I just pulled my full EQ, and my SW Visa Sig is still parked over in "Other" land, not reporting the CL.

Rats. You got me all excited there.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Anonymous — Sat, 12 Nov 2011 17:11:13 GMT

I got an EQ alert as well yesterday on my newly opened Siggy Sapphire Preferred. It is reporting the limit.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

lakerfan2011 — Sat, 12 Nov 2011 17:21:00 GMT

its going to be the next time they report your account they only report once a month so its going to be the next time they report your account to the credit bureaus

Re: OMG Chase Reporting CL on EQ for Sig Cards?

android01 — Sat, 12 Nov 2011 17:28:20 GMT

Darn. I liked having a credit line that didn't count for utilization.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Walt_K — Sat, 12 Nov 2011 20:00:17 GMT

@android01 wrote:
Darn. I liked having a credit line that didn't count for utilization.

Didn't it already count by using the high balance? Or did they not report a high balance?

ETA: Amex charge cards won't count on EQ and EX. TU98 will count them.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Anonymous — Sat, 12 Nov 2011 22:15:05 GMT

@Walt_K wrote:
@android01 wrote:
Darn. I liked having a credit line that didn't count for utilization.
Didn't it already count by using the high balance? Or did they not report a high balance?

ETA: Amex charge cards won't count on EQ and EX. TU98 will count them.

I don't think high balances affect your score. Only current balance via utilization ratio.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

lakerfan2011 — Sat, 12 Nov 2011 22:18:57 GMT

yeah but it s hurts your credit score with no util ratio

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Anonymous — Sat, 12 Nov 2011 22:24:20 GMT

@lakerfan2011 wrote:
yeah but it s hurts your credit score with no util ratio

The high balance on a charge card hurts your score? That doesn't make any sense. If that were true, anyone who cared about their credit score would never use a charge card. Aren't high balances permanent - as in they don't change until you charge a higher balance and are constantly on your report?

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Anonymous — Sun, 13 Nov 2011 00:10:47 GMT

@Anonymous wrote:
@lakerfan2011 wrote:
yeah but it s hurts your credit score with no util ratio
The high balance on a charge card hurts your score? That doesn't make any sense. If that were true, anyone who cared about their credit score would never use a charge card. Aren't high balances permanent - as in they don't change until you charge a higher balance and are constantly on your report?

You are correct, high balances are permanent and only change if you charge a higher balance.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

android01 — Sun, 13 Nov 2011 04:39:09 GMT

@Walt_K wrote:
@android01 wrote:
Darn. I liked having a credit line that didn't count for utilization.
Didn't it already count by using the high balance? Or did they not report a high balance?

ETA: Amex charge cards won't count on EQ and EX. TU98 will count them.

EX and EQ don't use the high balance for utilization, TU98 does. The two NPSL cards I have both list high balance but no credit limit.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

android01 — Sun, 13 Nov 2011 04:47:01 GMT

@lakerfan2011 wrote:
yeah but it s hurts your credit score with no util ratio

Being able to carry a high balance (if needed) on an NPSL card doesn't hurt my score via utilization if it's not counted, which is why I like having a couple of these types of accounts. Now that Chase is going to become a regular revolving credit card with a credit limit, I may have to shop around for another one that doesn't.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Walt_K — Sun, 13 Nov 2011 05:50:31 GMT

@android01 wrote:
@Walt_K wrote:
@android01 wrote:
Darn. I liked having a credit line that didn't count for utilization.
Didn't it already count by using the high balance? Or did they not report a high balance?

ETA: Amex charge cards won't count on EQ and EX. TU98 will count them.
EX and EQ don't use the high balance for utilization, TU98 does. The two NPSL cards I have both list high balance but no credit limit.

Are you sure about this? I thought that cards that reported as Open, such as Amex charge cards, would not count for utilization at all on EX and EQ. But that cards that reported as flexible spending cards, such as Visa Sig and World Mastercard, substituted the high balance for the credit limit for utilization calculations.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Scuba — Sun, 13 Nov 2011 16:22:50 GMT

I checked my TU and it is now reporting 1 of the 2 Signature card balances.

MyFico score didn't change but my Vantage score (I check because Chase likes Vantage) went from 940 to 885. Man, these numbers are all over the place with the littlest change

The only CB that doesn't show my Chase Sig CL is EX but they haven't reported yet this month and they are usually first. It is an upside down world

Re: OMG Chase Reporting CL on EQ for Sig Cards?

android01 — Sun, 13 Nov 2011 17:01:33 GMT

@Walt_K wrote:
@android01 wrote:
@Walt_K wrote:
@android01 wrote:
Darn. I liked having a credit line that didn't count for utilization.
Didn't it already count by using the high balance? Or did they not report a high balance?

ETA: Amex charge cards won't count on EQ and EX. TU98 will count them.
EX and EQ don't use the high balance for utilization, TU98 does. The two NPSL cards I have both list high balance but no credit limit.

Are you sure about this? I thought that cards that reported as Open, such as Amex charge cards, would not count for utilization at all on EX and EQ. But that cards that reported as flexible spending cards, such as Visa Sig and World Mastercard, substituted the high balance for the credit limit for utilization calculations.

I'm pretty sure. EQ and TU both list my Chase Visa (Sapphire) as Open accounts. EX just reports it as a Credit Card, but still doesn't show a credit limit and doesn't seem to be counted in utilization.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Walt_K — Mon, 14 Nov 2011 01:04:35 GMT

@android01 wrote:
@Walt_K wrote:
@android01 wrote:
@Walt_K wrote:
@android01 wrote:
Darn. I liked having a credit line that didn't count for utilization.
Didn't it already count by using the high balance? Or did they not report a high balance?

ETA: Amex charge cards won't count on EQ and EX. TU98 will count them.
EX and EQ don't use the high balance for utilization, TU98 does. The two NPSL cards I have both list high balance but no credit limit.

Are you sure about this? I thought that cards that reported as Open, such as Amex charge cards, would not count for utilization at all on EX and EQ. But that cards that reported as flexible spending cards, such as Visa Sig and World Mastercard, substituted the high balance for the credit limit for utilization calculations.
I'm pretty sure. EQ and TU both list my Chase Visa (Sapphire) as Open accounts. EX just reports it as a Credit Card, but still doesn't show a credit limit and doesn't seem to be counted in utilization.

Thanks for clarification. I don't have an Visa Sigs or World MCs right now, so I couldn't look at my reports to try to figure it out.

Re: OMG Chase Reporting CL on EQ for Sig Cards?

Anonymous — Tue, 15 Nov 2011 00:20:37 GMT

My billing cycle for my Sapphire Preferred ended and they posted to my CR, Chase is indeed reporting my $8k CL now...but my score went down by 17 points?!? What gives?!? I thought it would have gone up??? Also my utilization has NOT increased, I always PIF and my last bill with NPSL was $4200 and now with $8k CL reporting and $0 bill it goes down 17 points?!? Anyone have an explaination, I don't have an idea why this would have happened???

Re: OMG Chase Reporting CL on EQ for Sig Cards?

haulingthescoreup — Fri, 18 Nov 2011 03:53:13 GMT

Finally happened on mine:

11/16/2011

Equifax- Account Information

The following changes were reported for your Chase Card Services account :
Comments on your account changed from Credit card to Amount in H/C column is credit limit