Chase Freedom Signature Card

booboo · ‎02-21-2008

Just got off the phone with Chase. After reading some of the post regarding this card I started to worry.... I just received the card 2 weeks ago and I wanted to make sure that it's going to report as as revolving line of credit. They did verify that the card will report as revolving. One thing they did tell me was not to pay the entire balance in full each month. Otherwise this will show that my high balance is 0 and will look like I have never made payments on the card. Obviously they would like me to carry some sort of balance to make money off me, but I may leave a small portion just to show I have been making substantial payments. Hope this helps out anybody with a Chase Fredoom Signature card.

Dawn · ‎02-21-2008

booboo ... I hope you will reconsider what you were told about carrying a balance on this card.

DH and I have Chase Freedom World Master Cards that have the same issues as Signature.

We always PIF and Chase reports the statement balance ... not what the balance was after we PIF.

So ... you shouldn't need to keep a small balance on the card in order to have a balance report to the CRAs.

MidnightVoice · ‎02-21-2008

booboo wrote:

One thing they did tell me was not to pay the entire balance in full each month. Otherwise this will show that my high balance is 0 and will look like I have never made payments on the card.

CON TRICK ALERT!!!!!!!!!!!!!!!!!!!!!!!!!!

You DO NOT HAVE TO PAY FINANCE CHARGES.

Let a high balance report (on the statement) then pay it off in full

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎02-21-2008

booboo wrote:
One thing they did tell me was not to pay the entire balance in full each month. Otherwise this will show that my high balance is 0 and will look like I have never made payments on the card.

What the Chase rep told you is patently false.

Message Edited by cheddar on 02-21-2008 12:14 PM

booboo · ‎02-21-2008

They have them trained well don't they. I will stick to PIF each month. Keeps my UTIL down and scores up. Thanks for solidifying my thoughts.

Anonymous · ‎02-21-2008

cheddar wrote:

booboo wrote:

One thing they did tell me was not to pay the entire balance in full each month. Otherwise this will show that my high balance is 0 and will look like I have never made payments on the card.

What the Chase rep told you is patently false.

Message Edited by cheddar on 02-21-2008 12:14 PM

This is true (that what Chase told you is false). It is also false that they will report as revolving. I raised this issue and they sent me a 2-page letter (twice) explaining why the Signature card does not report as revolving (and they blamed it on the CRAs).

Man, as soon as I get my next cashback check I am sooooooooo dumping that card for some other Chase hunk of plastic ...

Anonymous · ‎02-21-2008

@booboo wrote:
One thing they did tell me was not to pay the entire balance in full each month. Otherwise this will show that my high balance is 0 and will look like I have never made payments on the card.

Did the csr say before or after the statement cut date? (not due date)

booboo · ‎02-21-2008

After the cut date.