Credit score dropped sharply

[myb821]

Dan mentioned that the Amex gold being a charge card is counted as 100 percent utilization. How would using the card affect my score. Should I not use my gold card?

please re-read what dan said cause that not what he said. what he said is ur highest balance ever is ur cl. So if one month u spent 10k that became ur CL so now if u spend 1k ur utilization is 10%

[scwam]

Chase reports CL on Sapphire right? I believe i saw that posted somewhere.

I think the Sapphire card is going to turn out to be one of those NPSL reporting cards like CO is. I read the brochure for it and it specifically stated "no preset spending limit."

[scwam]

Because they are charge cards.  Your highest spend on the card is your credit limit.

My Hilton honors is reporting the actual line and correct utilization, but they sometimes show only the current month being reported. I'm not sure what's up with only having 1 green "ok" box on my bureau when it's been 2 years with them.

But it would also make my average age longer ? So it wouldnt be smart to close them?

Before you close any cards. Close only the NPSL cards first and then wait to see what happens. To find out if you have any NPSL cards just make sure all three bureaus have a card showing nothing listed for a Credit Limit. Those are the ones that need to take priority of closing. But only if they are younger than your average age on your credit reports shown today. Something you might want to consider is that I've noticed my average age seems to be slightly different with different credit pull services (usaa vs citiId vs Amex-ID monitor, etc). You might want to make sure they are all similar first. I really think your most accurate data on age will come directly from each bureaus' monitoring services (you can get trials for each and use a disposable amex card to prevent rebill).

[Smokey Joe Robinson]

My Hilton honors is reporting the actual line and correct utilization, but they sometimes show only the current month being reported. I'm not sure what's up with only having 1 green "ok" box on my bureau when it's been 2 years with them.

These CC companies are screwing us like usual 

[Fan of Dan]

You can use it just fine, but pay the balance down to 0 just before the statement cycles (so it is issued with a 0 balance).  This is what gets reported to the bureaus.

In that case I think it is always worth doing this on all my cards unless it is an Amex thing

[AsherO]

I think the Sapphire card is going to turn out to be one of those NPSL reporting cards like CO is. I read the brochure for it and it specifically stated "no preset spending limit."

Why is Chase going with NPSL for these cards? Any suggestions for what their gain is that way? Perhaps it's less liability due to less credit extended (since they don't have to extend you a big CL before you've even used the card)?

These CC companies are screwing us like usual 

What do they gain by not reporting two years?

[Smokey Joe Robinson]

Why is Chase going with NPSL for these cards? Any suggestions for what their gain is that way? Perhaps it's less liability due to less credit extended (since they don't have to extend you a big CL before you've even used the card)?

What do they gain by not reporting two years?

they enjoy screwing us, duh, why else

[elikay]

@Ashero
makes sense

[AsherO]

they enjoy screwing us, duh, why else

I'm sure that's the answer, thanks for explaining it to me.

[aryeh1]

I have 10 inquiries within past 2 years. I shouldve done the 3 browser method...

[3ZeroT]

I have 10 inquiries within past 2 years. I shouldve done the 3 browser method...

That's really not bad, I have 19 on Experian and it doesn't cause any problems.  But they are spread out.   It is the number in the last six months that is most crucial to scoring, etc. (if say 8 out of 10 of them are in the last 6 months, then that's gonna hurt).  I try not to have more than 4-5 inquiries in a six month period.

[supercooler8]

speaking of credit card companies screwing us, I got approved a new citi aa visa card with a 12,500$ limit. However, the credit limit doesn't show up on my credit report although my number of accounts has gone up. This made my score drop sharply! Does anyone know how to fix this issue? Has anybody has this experience in the past?

[irleetnoob]

speaking of credit card companies screwing us, I got approved a new citi aa visa card with a 12,500$ limit. However, the credit limit doesn't show up on my credit report although my number of accounts has gone up. This made my score drop sharply! Does anyone know how to fix this issue? Has anybody has this experience in the past?

IME, it takes at least one billing cycle to appropriately add the util. rate onto your credit report.

[clownaparte]

+1, and you guys are making me nervous- time to get identity monitor....Ashero can you direct me to the proper thread for research

If you actually do want to keep identity monitor, there is a link floating about that will give it to you for 4.95/mo - perpetually. I signed my father up for that. If you can't find it, let me know I will try to dig it up.

[clownaparte]

What's the best way these days to find out what my credit score is for free?

CreditKarma - but it will only give you TU.

[Smokey Joe Robinson]

If you actually do want to keep identity monitor, there is a link floating about that will give it to you for 4.95/mo - perpetually. I signed my father up for that. If you can't find it, let me know I will try to dig it up.

http://www.identitymonitor.citi.com/index.aspx?source=IMN00291
ht ashero

[smurf]

http://www.identitymonitor.citi.com/index.aspx?source=IMN00291
ht ashero

wow  that looks like the full 3 bureau version. I think the only difference is the amount of id theft coverage which is pretty useless anyway

[clownaparte]

http://www.identitymonitor.citi.com/index.aspx?source=IMN00291
ht ashero

Yep excellent, that's the one I have. It is the three bureau version indeed. As an aside, the amount of fraud insurance is irrelevant in NY. Most of these policies don't cover NY.

[Spiffster]

Does Citi refresh the experian score daily ala Credit Karma or is it just updated monthly with unlimited looks at it?

[smurf]

Does Citi refresh the experian score daily ala Credit Karma or is it just updated monthly with unlimited looks at it?

It will update you of any changes but the reports only update every thirty days.