Diners Club To Report to CRAs?

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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thom02099
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Diners Club To Report to CRAs?

Postby thom02099 » Sat Dec 05, 2015 2:01 pm

Over at MF as well as on FT, there's been threads indicating that Diners Club is sending out notations with December statements that, beginning in January 2016 they will start reporting to the CRAs. One poster had the specific wording from their statement:



Important Information Regarding Your Account:

We will begin reporting information about your Diners Club account to the US credit reporting agencies in January 2016. Our initial report should include your previous 24 months of payment history. Going forward ,we will continue to report monthly.


Thoughts on this? Quite the hubbub over there at MF on this. My statement did not have the notation, so I guess I'll have to wait to see what actually happens in January 2016.
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Re: Diners Club To Report to CRAs?

Postby Tubpbs » Sat Dec 05, 2015 2:49 pm

Maybe they're going to open up applications again.

Do you use your Diner's Club? How often do you use each card? It must be difficult with so many.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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CarefulBuilder14
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Re: Diners Club To Report to CRAs?

Postby CarefulBuilder14 » Sat Dec 05, 2015 4:37 pm

If I had to carry a balance, I'd rather do it on a reporting, low-APR card than a non-reporting high-APR card.
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kdm31091
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Re: Diners Club To Report to CRAs?

Postby kdm31091 » Mon Dec 07, 2015 9:48 am

Basically, in a nutshell, the walls are really closing in on most "ways around the system"...Comenity has begun shutting down excessive SCT applicants and/or doing HPs; Amex stopped backdating; Diners is going to report now, etc.

Agree that carrying a balance on Diner's Club is not the best option anyway, so not sure what all the fuss is. Yes it's "lower" than some rewards cards but if you're habitually carrying balances on it, you have other issues besides worrying about it reporting or not.

Perhaps this is a step towards the applications being reopened, though I can't say it's something I'd apply for anyway, and I think the lack of reporting was the attraction for a lot of credit card nerds (although again, if you are planning to habitually carry balances on it, there's another issue).

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Re: Diners Club To Report to CRAs?

Postby yfan » Tue Dec 08, 2015 1:39 pm

CarefulBuilder14 wrote:If I had to carry a balance, I'd rather do it on a reporting, low-APR card than a non-reporting high-APR card.

Exactly. Making a decision on which card to carry balances based on the listing on a credit report rather than on the interest rate is plain stupid (okay... plain stupid IMHO).

Also, I'd bet that for every person attracted by Diners Club's "hidden treadline" feature, there's someone else who wishes it did report as another positive, low utility, long-term account that could help their AAoA and scores.

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Re: Diners Club To Report to CRAs?

Postby flan » Sun Dec 20, 2015 6:35 pm

yfan wrote:
CarefulBuilder14 wrote:If I had to carry a balance, I'd rather do it on a reporting, low-APR card than a non-reporting high-APR card.

Exactly. Making a decision on which card to carry balances based on the listing on a credit report rather than on the interest rate is plain stupid (okay... plain stupid IMHO).


Plenty of people (particularly the sort of people that hang out at flier talk) are self-employed traveling conslutants. For those people, it would be very useful to have a card that they could float charges on for a month, while they're waiting for their clients to pay them. No interest paid, just a payment of the statement balance at the due date.

kdm31091
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Re: Diners Club To Report to CRAs?

Postby kdm31091 » Sun Dec 20, 2015 7:23 pm

flan wrote:
yfan wrote:
CarefulBuilder14 wrote:If I had to carry a balance, I'd rather do it on a reporting, low-APR card than a non-reporting high-APR card.

Exactly. Making a decision on which card to carry balances based on the listing on a credit report rather than on the interest rate is plain stupid (okay... plain stupid IMHO).


Plenty of people (particularly the sort of people that hang out at flier talk) are self-employed traveling conslutants. For those people, it would be very useful to have a card that they could float charges on for a month, while they're waiting for their clients to pay them. No interest paid, just a payment of the statement balance at the due date.


I'm sure there's a subset of people who actually benefit for a reasonable reason from the lack of reporting, but there's an equal subset on myfico who seem to only care about the lack of reporting because it's "cool" or something.

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CarefulBuilder14
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Re: Diners Club To Report to CRAs?

Postby CarefulBuilder14 » Sun Dec 20, 2015 11:27 pm

flan wrote:
yfan wrote:
CarefulBuilder14 wrote:If I had to carry a balance, I'd rather do it on a reporting, low-APR card than a non-reporting high-APR card.

Exactly. Making a decision on which card to carry balances based on the listing on a credit report rather than on the interest rate is plain stupid (okay... plain stupid IMHO).


Plenty of people (particularly the sort of people that hang out at flier talk) are self-employed traveling conslutants. For those people, it would be very useful to have a card that they could float charges on for a month, while they're waiting for their clients to pay them. No interest paid, just a payment of the statement balance at the due date.

Something like DC is certainly of value in that situation. I was talking very narrowly about people who carry balances and pay interest (which, on MF, seems to often be on consumer debt with no source of reimbursement).
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
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flan
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Re: Diners Club To Report to CRAs?

Postby flan » Sat Dec 26, 2015 8:34 pm

CarefulBuilder14 wrote:
flan wrote:
yfan wrote:Exactly. Making a decision on which card to carry balances based on the listing on a credit report rather than on the interest rate is plain stupid (okay... plain stupid IMHO).


Plenty of people (particularly the sort of people that hang out at flier talk) are self-employed traveling conslutants. For those people, it would be very useful to have a card that they could float charges on for a month, while they're waiting for their clients to pay them. No interest paid, just a payment of the statement balance at the due date.

Something like DC is certainly of value in that situation. I was talking very narrowly about people who carry balances and pay interest (which, on MF, seems to often be on consumer debt with no source of reimbursement).


MF is mostly populated by idiots, at least in the credit card forums. So, yeah, I don't doubt there are people there who are paying interest on the card, and not some place cheaper, simply because it doesn't report.

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Re: Diners Club To Report to CRAs?

Postby kdm31091 » Sun Dec 27, 2015 2:17 pm

MF is sadly mostly morons. Theres a handful of sensible people, but they rarely post. I guess they get fed up with being drowned out by idiots who dont listen.

Im a credit enthusiast as much as anyone else but even I have to say "who cares?" to some of their threads. A recent big thread stirred up about comenity taking away flexible spending for visa signature. Ok, did you actually ever use the feature? No in 99 percent of cases. So who cares? There comes a point where you cannot worry about every little thing with these credit cards.



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