Chase Account Type and Limit Reporting Question

[twoaklawn]

In reviewing my credit reports, I've noticed something odd.  I have a Chase Visa opened in June 2007 It is reporting as a "Revolving Account" with a credit limit of $4500, balance of $4321.  I opened a Chase Mastercard July 2008, but it is reporting as account type of "Open Account" and credit limit says "Not Reported".  My credit limit on that Mastercard is $7000, balance of $5871.  It is the same at all three bureaus.  High utilization is hurting my score as I have no negs and 16 year credit history.  I'm trying to do everything I can to increase my score anticipating a home purchase this fall.  Is this type of reporting hurting my utilization?

[twoaklawn]

Equifax reports my CC utilization as 68% so they didn't included that account in their calculations.  The other two CRA's didn't give a figure, just that high utilization was hurting my score.

[Creditaddict]

is the mastercard a signature card? chase does not report the CL of signature cards.

I would just work on paying down your balances before applying for house. 

[twoaklawn]

What is a signature card? It just says Chase Mastercard on it, nothing else.  Yes, my number one priority for the next few months is getting my balances down.

[Anonymous]

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@twoaklawn wrote:
What is a signature card? It just says Chase Mastercard on it, nothing else.  Yes, my number one priority for the next few months is getting my balances down.

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Is your card a "World" MasterCard?  A Chase World MasterCard has a no pre-set spending limit, but does have a "credit access line." 

ETA:  Chase World MasterCards and Signature Visa cards generally do not report credit limits.  Instead, the "Highest past balance" is usually reported. 

Message Edited by psychic on 02-22-2009 03:58 PM