UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: SteveTheInvestor Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311070  
Subject: Credit access line versus credit limit (Chase) Date: 4/29/2009 9:59 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
A Chase MasterCard that I have had for several years sent me a letter to advise that they were "upgrading" my card to a Chase World MasterCard. This also involves changing my account from having a credit limit to a "credit access line" with no preset limit.

The card currently has an $18K limit which I've never even come close to. I never carry a balance and the most owed in any given month has been a little over $3K.

I can apparently opt out of this upgrade and am thinking about doing so. My general philosophy is that card companies do things like this because it will benefit them more than me.

I've heard rumor that available credit on a credit access line is reported to credit bureaus using the outstanding balance on the card. Unlike a card with a traditional credit limit, which reports the actual limit. If this is true, then this would hurt my FICO in that it would alter my credit utilization ratio.... would it not?

I would appreciate hearing any thoughts and/or experiences.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.