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Can I ask creditors not to report my new account?

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w20031424
Frequent Contributor

Can I ask creditors not to report my new account?

I believe the creditors are not obligated to report TL to CR agency, just like what the BML did. 

 

So is it possible to ask your creditor,Chase or local CR, not to report to credit bureau?  Do they need to pay to report? Or credit bureau pay them?

 

 

Thank you.

Fide Amex 15K | Barclays Reward 3.5K | Citi Forward Student 5K | Discover IT 12.8K | US Cash Reward 6K | GE Paypal 5.5K | Wal Discover 6K | CapOne 3.5K | Kohl's 0.3K
Message 1 of 12
11 REPLIES 11
enharu
Super Contributor

Re: Can I ask creditors not to report my new account?

You can try to ask but I doubt they will do it.

They do not pay to report, nor do CRAs pay them because they are reporting. Lenders are paying CRAs for other stuff on the other hand, such as access to your reports for example.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 12
Wolf3
Senior Contributor

Re: Can I ask creditors not to report my new account?

Each creditor has their own policy.    

 

I would not ask.   I think it sounds shady, and might prompt the question.   "what are you trying to hide?"

Message 3 of 12
w20031424
Frequent Contributor

Re: Can I ask creditors not to report my new account?


@Wolf3 wrote:

Each creditor has their own policy.    

 

I would not ask.   I think it sounds shady, and might prompt the question.   "what are you trying to hide?"


High util, if they ask me. Although this obviously isn't a sound one.

Fide Amex 15K | Barclays Reward 3.5K | Citi Forward Student 5K | Discover IT 12.8K | US Cash Reward 6K | GE Paypal 5.5K | Wal Discover 6K | CapOne 3.5K | Kohl's 0.3K
Message 4 of 12
b_seeker
Frequent Contributor

Re: Can I ask creditors not to report my new account?


@w20031424 wrote:

@Wolf3 wrote:

Each creditor has their own policy.    

 

I would not ask.   I think it sounds shady, and might prompt the question.   "what are you trying to hide?"


High util, if they ask me. Although this obviously isn't a sound one.


If some one called me, as a credit analysis, and asked not to report a card because of high utility, I would really question if that person is hiding other problems(Other cards with high utility, recent history of minimum payments, etc) and could potentially be going down the road to burning my employer. This almost seems like you are asking for AA. Having high utility is bad enough. Drawing attention to it is even worse.



|| Barclaycard Rewards Visa $5500 || AMEX BCE $2000 || Discover IT $3000 || Amazon Rewards Visa $1800 ||
|| Chase Freedom $2700 || CSP $5000 || Chase Marriott Premier $7500 || Sallie Mae MC $3800 ||

FICO Scores: EX 752 (3/13/13) || EQ 782 (10/4/13) || TU 724 (1/18/13)

In the garden as of 10/12/2013
Message 5 of 12
09Lexie
Moderator Emerita

Re: Can I ask creditors not to report my new account?

Message 6 of 12
Dubious
Frequent Contributor

Re: Can I ask creditors not to report my new account?

You could try just getting a NPSL card, wont count towards util

Message 7 of 12
Open123
Super Contributor

Re: Can I ask creditors not to report my new account?

Or, apply for the JPM card.  I believe the TL is hidden by design.

Message 8 of 12
enharu
Super Contributor

Re: Can I ask creditors not to report my new account?

Palladium is a hidden TL too if I am not wrong.

 

If you have high utilization due to your business operations, why not get a business line of credit instead? There are net 30 / 60 / 90 accounts that work somewhat like charge cards, and they do not count towards your utilization.

 

Regardless, you can always ask. I wouldn't recommend it however.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 9 of 12
FinStar
Moderator Emeritus

Re: Can I ask creditors not to report my new account?


@b_seeker wrote:

@w20031424 wrote:

@Wolf3 wrote:

Each creditor has their own policy.    

 

I would not ask.   I think it sounds shady, and might prompt the question.   "what are you trying to hide?"


High util, if they ask me. Although this obviously isn't a sound one.


If some one called me, as a credit analysis, and asked not to report a card because of high utility, I would really question if that person is hiding other problems(Other cards with high utility, recent history of minimum payments, etc) and could potentially be going down the road to burning my employer. This almost seems like you are asking for AA. Having high utility is bad enough. Drawing attention to it is even worse.


+2

 

I mean let's face it, why would any individual ask this type of question to their lender?  It's no different than someone involved with money laundering activities and attempting to circumvent AML protocols to avoid detection by either paying off a bank officer or someone internally.

 

One word comes to mind - dishonesty.

Message 10 of 12
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