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Banks and their shady reporting habits

Established Contributor

Re: Banks and their shady reporting habits

more they report = lower your credit score = more subprime practices they can enforce. Regardless a GE card is a store card, and should be used at a minimum.



mmmagique wrote:

Duncanrr wrote:
ive had the card for a month and Walmart already did this to me. I had to call them to release available credit. I think I'll only use card in first two weeks of billing cycle and then send in payment. I don't trust them. Are all GE cards like this?

It's been my experience that they are. They *really* want to report a balance. I have no idea why. 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 21 of 23

Re: Banks and their shady reporting habits

From my experience once I get a new credit card the creditor reports it in about 2 weeks. Payments get reported on the same day every month regardless if I PIF or carry a balance. For my personal loan it took 1.5 months before it first got reported and then it hasn't been consistent on reporting when I make a payment, it reported on June, August and so far I am waiting. IMO, I see no reason for the creditors to report faster than usual if you charge a high balance or PIF, reports should be once a month and consistant.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Message 22 of 23
Senior Contributor

Re: Banks and their shady reporting habits

I think they do it to lower your score because a lower score equals more reasons to increase rates or aa.....
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 23 of 23