topic Re: Revolving Utilization - No Valid Accounts? in General Credit Topics

Revolving Utilization - No Valid Accounts?

SChristine — Sun, 10 Apr 2022 18:36:16 GMT

I have one unsecured credit card and just recently opened another secured credit card. All three bureaus are reporting that I have one account with a balance, but that I have "no valid accounts" that qualify as part of revolving utilization or my total balance on revolving utilization. Why? What does that mean?

Re: Revolving Utilization - No Valid Accounts?

K-in-Boston — Sun, 10 Apr 2022 18:50:05 GMT

Of the one card reporting, is that the unsecured card or the new secured card? What types of cards are these? You are the primary or sole cardholder on the accounts?

Re: Revolving Utilization - No Valid Accounts?

lns1976 — Sun, 10 Apr 2022 18:50:19 GMT

What reporting service are you using? Who is your secured card through?

A new card can take anywhere from a few weeks up to 120 days to start reporting.

Re: Revolving Utilization - No Valid Accounts?

SChristine — Sun, 10 Apr 2022 19:56:20 GMT

It's Premier Bank Visa and is unsecured.

Re: Revolving Utilization - No Valid Accounts?

SChristine — Sun, 10 Apr 2022 19:58:17 GMT

I'm not sure what you mean by reporting service. The secured card is Capital One but it's brand new, so not surprised it isn't showing yet. I've had my unsecured Premiere Bank Visa for almost a year now.

Re: Revolving Utilization - No Valid Accounts?

lns1976 — Sun, 10 Apr 2022 20:51:42 GMT

Where are you receiving your information from? I don't just mean which credit bureau, such as Experian TransUnion or equifax, but which service are you getting it through?

I can tell you from recent experience that if it's credit karma their information is not always accurate and does not consistently match what I get from Experian or even nerd wallet.

Re: Revolving Utilization - No Valid Accounts?

SChristine — Sun, 10 Apr 2022 20:53:57 GMT

I only use myFICO.

@lns1976 wrote:
Where are you receiving your information from? I don't just mean which credit bureau, such as Experian TransUnion or equifax, but which service are you getting it through?

I can tell you from recent experience that if it's credit karma their information is not always accurate and does not consistently match what I get from Experian or even nerd wallet.

I only use myFICO.