Diners will now report to CRAs

[Anonymous]

While I know CC companies have the right to report anytime they want an unplained hit to my AAoA would piss me off. What if someone was  apping for a mortgage and was borderline for approval? Regardless of showing the last 24 months of history that still has the potential to lower scores.

[NRB525]

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@Anonymous wrote:

While I know CC companies have the right to report anytime they want an unplained hit to my AAoA would piss me off. What if someone was  apping for a mortgage and was borderline for approval? Regardless of showing the last 24 months of history that still has the potential to lower scores.

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Consumer Cards that do not report to the CRA are very rare.

Those who see this appear on the credit report will only get 12 months or maybe 14 since the card simply didn't exist prior to that. No one should see less than 10 months of activity when it appears.

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:

While I know CC companies have the right to report anytime they want an unplained hit to my AAoA would piss me off. What if someone was  apping for a mortgage and was borderline for approval? Regardless of showing the last 24 months of history that still has the potential to lower scores.

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Consumer Cards that do not report to the CRA are very rare.

Those who see this appear on the credit report will only get 12 months or maybe 14 since the card simply didn't exist prior to that. No one should see less than 10 months of activity when it appears.

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This is all true but it's a bit disingenuous on their part when they say they are going to report up to 24 months when in reality the card has existed for barely a year.  Oh well

[NRB525]

In Corporate Speak, "Up to 24 months" is absolutely accurate

The alternative is for them to explain "Everyone will get at least 10 months of history, but no more than 14 months when the card reports to the CRA, because we can't get our tihs together to let anyone else app the card"

[Anonymous]

I do not mind for them to report 24 months and to remove the annual fee

[UFGuy2006]

Hrm well my annual fee was just charged. Haven't really used it much in the last 6 months and am contemplating giving it the Axe. Thoughts?

[Anonymous]

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@UFGuy2006 wrote:

Hrm well my annual fee was just charged. Haven't really used it much in the last 6 months and am contemplating giving it the Axe. Thoughts?

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Do you already have another card that gives primary CDW? If not, Diners Club might be useful to use for rental cars if nothing else.

[Anonymous]

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@Anonymous wrote:

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@UFGuy2006 wrote:

Hrm well my annual fee was just charged. Haven't really used it much in the last 6 months and am contemplating giving it the Axe. Thoughts?

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Do you already have another card that gives primary CDW? If not, Diners Club might be useful to use for rental cars if nothing else.

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And if that benefit is worth the AF.

[NRB525]

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@UFGuy2006 wrote:

Hrm well my annual fee was just charged. Haven't really used it much in the last 6 months and am contemplating giving it the Axe. Thoughts?

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It looks like you pay about $465 in AF? Your credit limits indicate your annual income is very high. Is $95 going to be noticeable in your annual budget?

If you close the card, there is no guarantee apps will open. Ever. It's one of the very few that has chip+PIN for EMV terminals. It also has lounge access overseas, which you don't have on any other card. It has PayPass for touchless purchases. So, it's a cool card from the technology perspective. None of these attributes may be of interest to you.

The points here do not transfer to AA or United, and you don't seem to have Delta or Alaska Air, where the points do transfer.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@UFGuy2006 wrote:

Hrm well my annual fee was just charged. Haven't really used it much in the last 6 months and am contemplating giving it the Axe. Thoughts?

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Do you already have another card that gives primary CDW? If not, Diners Club might be useful to use for rental cars if nothing else.

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And if that benefit is worth the AF.

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That bar can be fairly low depending on the rental car company. I just looked on Hertz for instance and they seem to be charging $11/day for coverage. And of course, if you ever do get into an accident the card's CDW will likely save you far more than you paid for the AF.