Should I tell EX to add missing card acct?

Anonymous · ‎07-19-2016

Just got my free EX report last week after an adverse event from Chase (thin file led to lower than normal CL). Nothing is wrong, except that my new active Chase Freedom acct is not showing, yet my unactivated/unreceived Barclays Arrival card is there. I don't plan on buying any subscription to continually check reports b/c I don't need it.

Will this fix itself next month when Chase reports it? If not, should I tell EX to contact Chase to add it? I'm a very thin file, AAoA <1 yr so I'm assuming having more accts on the report as I garden for the next year is good b/c I always PIF, no exceptions. O wise gurus help

Anonymous · ‎07-19-2016

@Anonymous wrote:
Just got my free EX report last week after an adverse event from Chase (thin file led to lower than normal CL). Nothing is wrong, except that my new active Chase Freedom acct is not showing, yet my unactivated/unreceived Barclays Arrival card is there. I don't plan on buying any subscription to continually check reports b/c I don't need it.

Will this fix itself next month when Chase reports it? If not, should I tell EX to contact Chase to add it? I'm a very thin file, AAoA <1 yr so I'm assuming having more accts on the report as I garden for the next year is good b/c I always PIF, no exceptions. O wise gurus help

Some accounts take longer to report. Unfortunately you will have to just wait, but it will definitely resolve itself. Even though it is hard to wait, we all have to remember that our credit scores are fluid and changeable. Also, as an aside, it is better for your scores to have one card show a small balance.

Anonymous · ‎07-19-2016

Yeah Chase takes around two months to first report. This can be a benefit in certain scenarios. If you want the card to report ASAP, just put a charge on it and the next day pay it in full completely. It will be reported to all bureaus that it's paid in full within 3-7 days. This is a Chase thing, not every bank does this.

Anonymous · ‎07-19-2016

@Anonymous wrote:

Also, as an aside, it is better for your scores to have one card show a small balance.

Really? I have never heard this before...do you mean that the utilization should be low? Or that only having 1 card is best? My score was rather low with a thin file and few accounts, Citi cited this specifically as the reason for my low SL when I opened the Double Cash a few months back (besides the fact that Citi always gives low SL to DC anyway)

Anonymous · ‎07-19-2016

@Anonymous wrote:
Yeah Chase takes around two months to first report. This can be a benefit in certain scenarios. If you want the card to report ASAP, just put a charge on it and the next day pay it in full completely. It will be reported to all bureaus that it's paid in full within 3-7 days. This is a Chase thing, not every bank does this.

Ok that makes sense. Very odd though especially the last part haha

Anonymous · ‎07-19-2016

@Anonymous wrote:
@Anonymous wrote:
Also, as an aside, it is better for your scores to have one card show a small balance.
Really? I have never heard this before...do you mean that the utilization should be low? Or that only having 1 card is best? My score was rather low with a thin file and few accounts, Citi cited this specifically as the reason for my low SL when I opened the Double Cash a few months back (besides the fact that Citi always gives low SL to DC anyway)

Usually having one card report a balance works better for your score.

Anonymous · ‎07-19-2016

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Also, as an aside, it is better for your scores to have one card show a small balance.
Really? I have never heard this before...do you mean that the utilization should be low? Or that only having 1 card is best? My score was rather low with a thin file and few accounts, Citi cited this specifically as the reason for my low SL when I opened the Double Cash a few months back (besides the fact that Citi always gives low SL to DC anyway)
Usually having one card report a balance works better for your score.

Hmmmm *scratches chin* Well I have a good rewards system set up now for the different purchases I make so all cards will be used. So should I be doing the PIF before statement end date on all except 1 card every month so only 1 card reports a balance? FYI my history is short but will be boosted by having a good load of student loans coming soon for medical school

Anonymous · ‎07-19-2016

@Anonymous wrote:
@Anonymous wrote:
Usually having one card report a balance works better for your score.

Hmmmm *scratches chin* Well I have a good rewards system set up now for the different purchases I make so all cards will be used. So should I be doing the PIF before statement end date on all except 1 card every month so only 1 card reports a balance? FYI my history is short but will be boosted by having a good load of student loans coming soon for medical school

Alright I found the answer. Posting here for longevity: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Why-Report-Balance-on-ONLY-One-Card/m-p/4129002

Looks like what you're talking about is for short-term small increases, not the long-term gardening. Thanks for the additional heads-up though!