how frequently does discover report?

[thrasher865]

Well I got in some trouble with my car and had to take a payday advance loan from my discover card.  I expected to pay it off before my statement date on the 18th, but I finally got through my creditsecure trial and updated my report and the balance is showing the full $1900 already.

Can't wait til AMEX sees this!  Brand new account with 60% util

[Anonymous]

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thrasher865 wrote:

Well I got in some trouble with my car and had to take a payday advance loan from my discover card.  I expected to pay it off before my statement date on the 18th, but I finally got through my creditsecure trial and updated my report and the balance is showing the full $1900 already.

Can't wait til AMEX sees this!  Brand new account with 60% util

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They normally report monthly like most eveyone else, but there are many reports that they occasionally do intra-cycle updates for no apparent reason at all.

Good luck with Amex!  How long have you had the Amex, and what's your utilization like on your other accounts?

[thrasher865]

Well...  AMEX is one of the three accounts I added a month ago.  All other accounts, including amex, are 0 balance, but I missed the statement date for Chase and it reported $300.  Chase is 0 right now, but I guess that won't show up til the statement date of the 17th.  As long as AMEX doesn't close my card, they can do what they want.  I'd prefer to keep my CL intact, though.  Maybe it's so low, they just won't worry about me.  It's only a $2000 limit.

[Anonymous]

People, people, people. Don't get worked up because a balance hit your account. It's not a bad thing. The main thing is to pay it off prior to the due date. You need to show you are using credit rather than just having it. In theory, what is the incentive of a creditor or report your history on a monthly basis if you pay your account off prior to they report to the CRAs. It cost money to report your balances to the CRAs. Rotate your cards every couple of months to keep them all reporting.

[Anonymous]

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FaircreditguyFL wrote:
People, people, people. Don't get worked up because a balance hit your account. It's not a bad thing. The main thing is to pay it off prior to the due date. You need to show you are using credit rather than just having it. In theory, what is the incentive of a creditor or report your history on a monthly basis if you pay your account off prior to they report to the CRAs. It cost money to report your balances to the CRAs. Rotate your cards every couple of months to keep them all reporting.

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I agree in theory, but in this case the concern seems to be how Amex will react to 60% utilization on a brand new Discover account when the Amex itself is only one month old.  It's a valid concern, IMO.

Keeping my fingers crossed for you, thrasher!  Amex didn't soft pull me at all until I had had my account for 2 months, and that one was only because I requested a CLI at that point.  Maybe you will have the same experience I did, and they won't snoop around your reports until you get that Discover paid down.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
People, people, people. Don't get worked up because a balance hit your account. It's not a bad thing. The main thing is to pay it off prior to the due date. You need to show you are using credit rather than just having it. In theory, what is the incentive of a creditor or report your history on a monthly basis if you pay your account off prior to they report to the CRAs. It cost money to report your balances to the CRAs. Rotate your cards every couple of months to keep them all reporting.

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I agree in theory, but in this case the concern seems to be how Amex will react to 60% utilization on a brand new Discover account when the Amex itself is only one month old. It's a valid concern, IMO.

Keeping my fingers crossed for you, thrasher! Amex didn't soft pull me at all until I had had my account for 2 months, and that one was only because I requested a CLI at that point. Maybe you will have the same experience I did, and they won't snoop around your reports until you get that Discover paid down.

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Oh, I totally understand. Nothing wrong with the 60%... but we are talking about AMEX aren't we. I wouldn't sweat it. AMEX is worth worrying over. Thee is no rhyme nor reason to explain the ways of AMEX.