card does not report at all

[theGman]

hi creditboarders,

 

i have two logix bank credit cards and one of the tradelines does not report to any of the credit bureaus. it is otherwise in good standing and less than 50% balance and I will be paying it off in the next couple of weeks. 

 

does it make sense to have them report it? or will it only make my credit worse somehow.

 

thank you!

[centex]

There are people that LOOK for cards that don't report.  But since you have high utilization, it is just as well that it does not report. 

[theGman]

5 hours ago, centex said:

There are people that LOOK for cards that don't report.  But since you have high utilization, it is just as well that it does not report. 

hmm..newbie question then... why do people look for ones that do not report? i imagine showing more credit line (and soon paid off) will look better than not having it report at all. thoughts?

[PotO]

hmm..newbie question then... why do people look for ones that do not report? i imagine showing more credit line (and soon paid off) will look better than not having it report at all. thoughts?

For someone new to the credit game, it's probably more important that they build up their portfolio to show a sizable credit history than to look for ghost tradelines.

However, when you already have a portfolio thick enough to choke an elephant, sometimes you start looking at other ways to use what you have. There are several different scenarios where using a card that doesn't report can be beneficial. I had to pay my son's tuition a while back and thought about using my Citi 2% card. The only issue was that the day to pay the tuition was two days before statement date and I would have been reported with 70% utilization. To avoid that issue, I used a different 2% card to pay. Even though that card has the same statement date as my Citi card and has a lower credit limit that would have me at 95% utilization, it's a ghost card and doesn't report to the credit bureaus.

[A Credit Ed]

12 hours ago, PotO said:

I used a different 2% card to pay, it's a ghost card and doesn't report to the credit bureaus.

Let me be the first to ask - what card is this?

[hdporter]

4 hours ago, A Credit Ed said:

Let me be the first to ask - what card is this?

 

My guess would be an "odd ball" credit union.

 

Whatever the case, I don't look for @PotO to respond (I could be surprised).  Having such a card in your hip pocket is a strategic advantage.  In his shoes, I wouldn't want to take the slightest chance that singling out the issuer might cause a surge of applications, with potential risk to this advantage.  (i.e. "beware the unintended consequence")

[PotO]

Let me be the first to ask - what card is this?

It's an AmEx biz card.

Fun fact: There are a very large number of people who have biz cards yet have no business at all much less a viable one.

The advantages for me are I never worry about utilization when making last minute large purchases and I am not worried about new credit targets seeing that I have a ton of available credit. I can hide much of that from preying eyes since it doesn't report.

Another advantage is that biz cards usually have a separate maximum exposure from normal cards. For example, Navy has a hard $80k maximum exposure. But that doesn't include limits on biz cards.

[PotO]

 
My guess would be an "odd ball" credit union.
 
Whatever the case, I don't look for [mention=136067]PotO[/mention] to respond (I could be surprised).  Having such a card in your hip pocket is a strategic advantage.  In his shoes, I wouldn't want to take the slightest chance that singling out the issuer might cause a surge of applications, with potential risk to this advantage.  (i.e. "beware the unintended consequence")

I do also have a few weird issuers that have never reported. One is, as you guessed, a CU. Another is a "normal" bank that insists they report, but never have. Then there is ABoC. Like just about everything in Chicago, this bank has mental issues.

None of those I mentioned are very trustworthy so I wouldn't use them purposely to mask util. Biz cards were born to fulfill that purpose.

[theGman]

thank you, all. always something to learn around here!