Upgrade visa

[sihmud]

Hello all,

I've been researching this card in forums but can't seem to get a straight answer. 

my question is the following,

if I pull 2 different draws from the card not within the same month. Will it report 2 desperate installments on Ku CR or will it just keep adjusting one tradeline as I use it and pay it? I opened an account but don't want to keep getting "new account" dings on my credit if I frequently use it every few months.

[SoCalGardener]

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@sihmud wrote:

Hello all,

I've been researching this card in forums but can't seem to get a straight answer. 

my question is the following,

if I pull 2 different draws from the card not within the same month. Will it report 2 desperate installments on Ku CR or will it just keep adjusting one tradeline as I use it and pay it? I opened an account but don't want to keep getting "new account" dings on my credit if I frequently use it every few months.

---

I have no idea, nor do I know what a 'desperate installment' is, but why not just contact the bank and ask? Go straight to the source!

Common sense tells me there would *not* be a 'new account ding' each time you use it, since the account already exists, but who knows? The issuer!

[bigseegar]

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@sihmud wrote:

Hello all,

I've been researching this card in forums but can't seem to get a straight answer. 

my question is the following,

if I pull 2 different draws from the card not within the same month. Will it report 2 desperate installments on Ku CR or will it just keep adjusting one tradeline as I use it and pay it? I opened an account but don't want to keep getting "new account" dings on my credit if I frequently use it every few months.

---

Sorry, the way all of this is worded makes no sense so it's hard to impossible to answer.

[SUPERSQUID]

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@SoCalGardener wrote:

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@sihmud wrote:

Hello all,

I've been researching this card in forums but can't seem to get a straight answer. 

my question is the following,

if I pull 2 different draws from the card not within the same month. Will it report 2 desperate installments on Ku CR or will it just keep adjusting one tradeline as I use it and pay it? I opened an account but don't want to keep getting "new account" dings on my credit if I frequently use it every few months.

---

I have no idea, nor do I know what a 'desperate installment' is, but why not just contact the bank and ask? Go straight to the source!

Common sense tells me there would *not* be a 'new account ding' each time you use it, since the account already exists, but who knows? The issuer!

---

A desperate installment involves searching under your couch cushions for money to come up with a payment.

[SUPERSQUID]

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@sihmud wrote:

Hello all,

I've been researching this card in forums but can't seem to get a straight answer. 

my question is the following,

if I pull 2 different draws from the card not within the same month. Will it report 2 desperate installments on Ku CR or will it just keep adjusting one tradeline as I use it and pay it? I opened an account but don't want to keep getting "new account" dings on my credit if I frequently use it every few months.

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There is a KU credit reporting agency now? Gees you think they had enough after the fico 10's.

[DaveInAZ]

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@sihmud wrote:

Hello all,

I've been researching this card in forums but can't seem to get a straight answer. 

my question is the following,

if I pull 2 different draws from the card not within the same month. Will it report 2 desperate installments on Ku CR or will it just keep adjusting one tradeline as I use it and pay it? I opened an account but don't want to keep getting "new account" dings on my credit if I frequently use it every few months.

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I'm to make some wild guesses here: 1) "desperate installments" means "separate installments", and 2) "Ku CR" means "Credit Karma credit report"? 

I have an Upgrade Visa and yes, it reports as one tradeline no matter what you balance is or the number of charges you make to it. The Upgrade Visa reporting on credit reports is a bit strange as it reports as a Line of Credit, not a revolving credit like a typical credit card. I made a small partial payment of $5.55 on my electric utility to "test it out", and then paid it off 2 days later. When it reported my Credit Karma score shot up 33 points, from 748 to 781, and CK cheerfully congratulated me for "paying my loan off in full". 

But that's just one of the many flaws in the Vantage 3.0 scoring model that Credit Karma uses. My Fico 8 score wasn't fooled, it remained pretty much unchanged. 

The Upgrade Visa has it uses, but be careful of the automatic payments it schedules. It tried to schedule a $.19 cent automatic payment on my $5.55 balance, that's to string out your balance to earn them interest. You can make a payment of any amount you want at any time. 

[Anonymous]

This is a really great card to have. No, it will not report two different installment loans on your credit report. Simply put, Upgrade is a line of credit, and that's how it reports on your credit report. Only one line of credit. Not multiple installment loans. Furthermore, it does not report your credit limit. This is great because it won't effect your utilization. Meaning, even if you've charged up to your credit limit, the credit bureau won't know because your credit limit is not reported. This Upgrade line of credit is accessible to you anytime by using the card. You can even forgo using the card, and instead transfer cash into your checking account by just logging into the app. I have this card, and I highly recommend it.