Discover: monthly FICO score not guaranteed

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Ikarus
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Discover: monthly FICO score not guaranteed

Postby Ikarus » Tue Sep 09, 2014 10:04 pm

Turns out getting a FICO score with Discover it is conditional.

I didn't use my card in July so a statement didn't cut at the end of August.

I did an online chat with a rep to find out why my statement didn't cut at the end of August and was told:

"There is not a way for us to know [your FICO score] for August. I do apologize for that. your account was considered inactive at the time we attempted to pull your FICO® Credit Score. Your account is considered inactive when there are no purchase transactions, fees, interest charges, or payments on your account 30 days before we attempt to pull our FICO® Credit Score. If your account is considered inactive at the time we attempt to pull your FICO® Credit Score, there will not be a number given."

This was news to me and I found it very interesting.

I can't recall ever seeing a statement not cut due to inactivity. I've had cards still cut statements to at least show there was no activity, which would be a good thing, wouldn't you think?

Anyone ever experience this with other cards?

I guess it's a way to guarantee swipes. :D
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notcool
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Postby notcool » Tue Sep 09, 2014 10:33 pm

Yes this seems common. Chase and barclaycaedus do not issue statements to me on those months when I have no transactions or payments and my balance was zero the entire month. I've noticed the same with my disccover card. Not sure about Amex or Citibank...

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PlyrStar93
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Postby PlyrStar93 » Tue Sep 09, 2014 10:37 pm

notcool wrote:Not sure about Amex or Citibank...

AMEX does not generate statement if there is no activity in that billing period. I have done this once.
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flan
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Postby flan » Wed Sep 10, 2014 7:50 pm

PlyrStar93 wrote:AMEX does not generate statement if there is no activity in that billing period. I have done this once.


Neither do most lenders. It costs money to mail a statement that says "nothing happened". Even if you're getting electronic statements, there's a cost, and there's little or no benefit for the lender. Also worth noting: most lenders won't report to credit bureaus unless they generate a statement. (Again, because it costs money.) Most fill in OK when they next report, but if you get a CLI or something you want reported, make them generate a statement.

benhollberg
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Postby benhollberg » Wed Sep 10, 2014 8:55 pm

This is normal for most banks. I have noticed that Discover, Chase and Citi won't generate a statement if there is no activity.
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