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mabbruscato11

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Recent Chase Freedom Visa Signature card does not show up in my accounts
I just got a Chase Freedom Visa Signature card with a "credit access line" of 6500. I don't see this account in my credit karma summary, nor do I see its affect in my total available credit. I do see the inquiry chase made however. Does the Chase Freedom Visa Signature report a credit limit to the big 3? I heard reports that visa signature cards do not report the CL since it is not hard and fast. Will this hurt my credit?

Thanks!

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Be patient!

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The new card will get reported to all 3 bureaus. Just some banks, Discover for example, report the new card right after you get approved. Most banks will only report it after you have the first statement.

Most banks do not report credit limit of a Visa Signature because you can use more than that credit limit without paying penalty fee. Technically saying, you don't have a limit of how much you can use on the card, although in reality, let take your case as an example, you can use more than $6500, but I believe when you reach about $7000, you will not be able to use it any more until you pay it down. Your credit limit, instead of being reported as $6500, will be reported as N/A. And yes, it will hurt your score, i.e. you would get higher score if your real credit limit is reported instead of the "N/A". Note that your high balance (the highest so far you have for a monthly balance) will be reported, and some credit grantors will consider that as your credit limit. But maxing out your Visa Signature for this purpose is highly NOT recommended.

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Wait for your first statement

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