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@SleeplessinMA wrote:@Drusbo wrote:
Ahhh. So they're probably reporting the balance at the time of report opposed to previous statement then? Only reason I'm opposed to it reporting is right now I have it sitting at like 65% utilization with a 0% offer and not able to necessarily get it down lower before the end of the month. Otherwise, other than not being too thrilled about it no longer being hidden, I welcome that it's at least reporting a correct opening date.
Yes, that is correct. I had approx 427.00 outstanding when my statement cut on 8/23,
I paid the rest of the balance afterwards but before 10/2, I was extremely lucky in that regard.
I can see where your utilization is at, not being thrilled that it's reporting now, however, I think the next
utilization threshold is 48.9, if you can try to get it under that you will be ok. Now that we know it's
reporting a correct opening date is huge as well.
I'd like to congratulate you on your progress after your BK. You're doing amazing! Keep up the GREAT WORK!
Thanks!
Yeah, thought of that already and had planned to get it down to that threshold, but someone failed to pay me back. My luck I'd end up bending over backwards to get there, just to have it report the old balance or something. Luckily, FICO has no memory so the 65% reporting for less than a month won't hurt...hopefully.
@Anonymous wrote:
Just saw it on my experian. Score dropped by 20 points and im in the middle of closing of on my mortgage. **bleep**!!
That sucks!
When did you open yours?
@Drusbo wrote:
Thanks!
Yeah, thought of that already and had planned to get it down to that threshold, but someone failed to pay me back. My luck I'd end up bending over backwards to get there, just to have it report the old balance or something. Luckily, FICO has no memory so the 65% reporting for less than a month won't hurt...hopefully.
Nah, it's only a snapshot in time. You may leave a few points on the table but you'll make those up next month.
It's a shame you didn't get your money back as fast as you lent it out. Lesson to be learned there, it
happened to me once as well, still carrying that 30D late on my reports, but it's almost time for it to
come off on it's own. It will never happen again!
@Zeus0886 wrote:
Just saw it on my experian. Score dropped by 20 points and im in the middle of closing of on my mortgage. **bleep**!!
Good grief, that couldn't have happened at a worse time! I'd jump over to the Mortgage Loans forum, and post there.
I'd talk to my loan officer ASAP and let them know what is going on.
Is it a huge amount that reported, could you pay it off and have your loan officer do a rapid rescore?
Good luck to you!
@Zeus0886 wrote:
About 3k reported. I just emailed my loan officer and explained that this was not a new account I just opened. It was opened in 2017. It brought my overall utilization from 19 to 23. Im purchasing a Co-Op and this idiot managing agent of the property keeps screwing up paper work that bank needs to officially close. I could of moved in a month ago.
It figures, only takes one idiot to screw things up and this idiot managing agent fits the bill.
I would NOT panic, this isn't your loan officers first rodeo and I am sure that he/she will show
you how to navigate this.
Good luck, keep us posted!
@WarthogWrangler wrote:
So basically the only accounts being reported are new accounts and accounts that were opened after Bill Me Later became Pay Pal Credit. I’ve yet to see any accounts that started out as BML accounts report yet.
Hmmm that makes me wonder if they're just doing it in batches or if those of us whose accounts began life as BML will never report? I've said many times that I have no issues with it reporting if it's going to be from 2000 or 2001 whenever I opened the account, but if it's reported as a new account I would be angry, and somewhere in the middle if it reports a date post-BML but at least a few years. It would have been nice of them to exclude reporting those with promotional balances that began prior to the notice that they were changing to Synchrony, though, as I'm sure many people with accounts likely had high utilization. I would still recommend that anyone that has not already asked for a SP CLI to do so if they are carrying a balance on it, just in case.
ETA: I pulled my 3B yesterday and it is not reporting.
^ I am thinking they are doing batches as well, working from newer to old
mine is 2014, hasn't shown up yet,but I am expecting it soon, as I have seen a number of 2015 so far
good point about BmL. If posters could add this as a DP, that would help
(I just checked, mine is 3/9/2014 and started at $500. Currently $10k)
Mine was 2017, and still hasn't reported.
I can't help but wonder if it is complicated because my reports are frozen, and I have never given Sync permission to access my file, as I have no other Sync accounts.