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@MakingProgress wrote:
If you are managing this account in a positive manner, such as making payments on time, keeping util low, etc. Then what is the advantage to it being a hidden tradeline?
I have some large purchases that are on a 24mo 0% promo that eat up about 70% of my util right now. Why use your money when you can use theirs? I'd prefer that NOT to show up, as a 70% util on a single tradeline can give you a nice black eye.
@Dilbert934 wrote:
@MakingProgress wrote:
If you are managing this account in a positive manner, such as making payments on time, keeping util low, etc. Then what is the advantage to it being a hidden tradeline?
I have some large purchases that are on a 24mo 0% promo that eat up about 70% of my util right now. Why use your money when you can use theirs? I'd prefer that NOT to show up, as a 70% util on a single tradeline can give you a nice black eye.
Agreed. PPC is currently my most utilised credit line, precisely because using it doesnt affect my credit score. If that changes, i will most likely stop usong PPC altogether...
@MakingProgress wrote:Seeing all the comments about PPC possibly starting to report has caused me to wonder. Whats the big deal?
If you are managing this account in a positive manner, such as making payments on time, keeping util low, etc. Then what is the advantage to it being a hidden tradeline?
If you have negative info that the advantage is obvious.
The reason so many people like the hidden tradeline is equally obvious. Regardless what the history of the "hidden" account might be, it does NOT affect the credit score. Doesn't matter what the balance is, doesn't matter what the credit limit may be (relative to utilization), doesn't matter how old or new the account is (so it doesn't affect AAoA), etc.
High (hidden) utilization would be an advantage of any account should a consumer choose to go that route. It would allow the consumer to over-use the hidden account and keep the balance lower on other reported accounts.
It is/was an option consumers have/had to manage their finances. Nothing wrong with that. I have a commercial credit card I use to make a lot of purchases. The fact that it doesn't show up on my credit is a huge advantage.
Generally speaking, in these days of "everybody knows everything about us," being able to do something w/o it being reported to the world is a good thing.
I received email communication last week. Same verbiage. I've been planning for this since last summer. I went all out and got it up to $5k and was carrying a heavy balance until January and I'm down to just a couple 12/24 month 0% and at 26% util and will have it paid off in 6.
No real point in having this anymore if it's not hidden. I'd rather get points somehwere else but having the hidden TL is nice.
@Anonymous wrote:
So if I am understanding correctly, it will still be a hidden TL, with only payment history reporting? At least based on what CSRs have told people?
If so, I am totally fine with that. It still maintains the "spirit" of a hidden TL at least.
That's what I was told over the phone, but I was told by someone here that it's not possible to report that way, so I'm not sure.
From my experience, CSRs will say almost anything. They often do not know what's going on.
We must face the fact that we will not know until we know - that is, until we see what, if anything, shows on our credit after the summer.
Time to stop fretting about it.