My credit card's existence is invisible (?)

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randix
 
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My credit card's existence is invisible (?)

Postby randix » Sat Feb 21, 2015 12:57 pm

I'm asking this more out of curiosity... I have a number of credit cards, they all appear on my various credit reports, I obtained all of them in the not recent past. Don't think it matters to my question, but I basically carry a 0 balance, I pay them off each month, my score is in the 800s.

Anyway, in January I applied and received a Chase Sapphire card. There is no record of any hard pulls on my application from any of the 3 reporting agencies (it was issued with a credit limit of 30k+), and there is not even a record that the card was issued on any of my credit reports (since issuance, I have charged and paid off thousands on it).

Isn't that rather strange? Although I guess I don't get the benefit of the reporting history, I'm wondering whether or not I should pursue it... ?


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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Feb 21, 2015 3:49 pm

As to why there's no inquiry...I don't know. It is very unusual for Chase to not do a hard pull. Did you order each full report several days after the application, or are you using a free service like credit karma that may not update very frequently? Or had you applied for any other credit with Chase shortly before the Sapphire?

As to the account not appearing...some issuers take longer than others report a new card. My Barclaycard Sallie Mae was reporting about 48 hours after I was approved, before I even had the card. At the other extreme, my BCE took about 6 weeks to report.

My month-old CSP hasn't reported yet, either.
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Battery111
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Postby Battery111 » Sat Feb 21, 2015 4:25 pm

Isn't there another version of the CSP that's a hidden credit line, like the palladium? Did you just go online and apply, or are you a Chase private bank or JP Morgan private client and applied through your banker?

Just grasping at straws here. I could be wrong.
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thom02099
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Postby thom02099 » Sat Feb 21, 2015 4:29 pm

Battery111 wrote:Isn't there another version of the CSP that's a hidden credit line, like the palladium? Did you just go online and apply, or are you a Chase private bank or JP Morgan private client and applied through your banker?

Just grasping at straws here. I could be wrong.


You may be thinking of the JP Morgan Select card. It's a hidden TL. The regular Sapphire is not a hidden TL.

IIRC, when I got my CSP, it took 2-3 billing cycles before it reported.
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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Feb 21, 2015 4:34 pm

What exactly is the appeal of hidden TLs?

In my limited understanding, the appeal is that you can keep a high balance on a card without it affecting your reported utilization. Also, if others lenders might be spooked about the amount of available credit you already have (relative to income), then those lenders don't see the account.

On the other hand, though, you don't get the good history to report to other lenders.

Or is there more to it?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Battery111
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Postby Battery111 » Sat Feb 21, 2015 5:01 pm

CarefulBuilder14 wrote:What exactly is the appeal of hidden TLs?

In my limited understanding, the appeal is that you can keep a high balance on a card without it affecting your reported utilization. Also, if others lenders might be spooked about the amount of available credit you already have (relative to income), then those lenders don't see the account.

On the other hand, though, you don't get the good history to report to other lenders.

Or is there more to it?


You pretty much nailed it. Think in relation to the OP's situation. He already has as high a score as one is likely to have. He doesn't need the CL to help utilization. In this case it's nice to have an account you can use if you DO want to carry a balance for a while. Once you're over 800 almost every little thing causes a more significant hit to your score.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
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LessIsMore
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Postby LessIsMore » Sat Feb 21, 2015 6:21 pm

Unlike you, the credit limits on my 14 credit cards are lower. The highest is my KeyBank Rewards MasterCard (only $5k). My credit score is 748. And, my combined utilization rate is under 5%. In my case, I use credit cards as a "safety net" against surprise expenses (ie., medical, auto, home). I keep them all active each month with at least one charge (usually small) and pay off balances on the same day the invoices post (not waiting for a due date).

But, like you, I have one credit card (a rewards VISA through one of my credit unions) that has apparently never made a hard inquiry - nor even reported to the bit 3. And I've had it since April 2014. I look at it this way ... if it ain't broke, don't fix it (grin). If your credit score is already in the 800s, not having the card "hit" your credit file (or even report) probably isn't anything to worry about.
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