Is this normal?

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DeadManMoshing

• January 22, 2020 01:50

Dear Sirs or Ma'ams, This is a post that I would like put in the section for building credit/repair(if that's even going to be a section). I recently got approved for an unsecured credit card. The credit card has a annual fee and an extra fee for an additional card. I set aside the money for both expenses and when the card came, I registered and waited for pay day. Pay day came and I went to pay the fees but, I could only pay the extra card fee. The app would say to much funds. Tried the same on the website, same results. The annual fee didn't post until 10 days later. Is this a normal practice of credit card companies? DeadManMoshing

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  Cori

  • January 24, 2020 17:53

  Hi DeadManMoshing! Nice to see you here - congrats on the card approval! 

  This is a great question, and evidence of your commitment to responsible card usage :) Each issuer has different processes and timelines that make it challenging to predict exactly when these types of fees will post. However, if you can't find them outlined in the fine print of the card account's terms, you can probably contact their support team to find out those types of details.

  Good luck and please keep us posted!

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  DeadManMoshing

  • February 01, 2020 05:20

  Thank you @Cori, will do!

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  DeadManMoshing

  • February 14, 2020 23:52
  • Edited

  Hi @Cori,

   I took your advice and called the credit card company. I got a less than satisfactory reply. Kinda along the lines of, that's what we did and left at that.

   Well, I called again to find out when they report to the credit bureaus and got a good reply. They report about the 11th of the month, card due the 7th and I pay roughly around the 3rd. The thing I don't understand is, if my credit utilization went from 25% to .33% why I'm not seeing my score go up a little?

   When I made the call(the above paragraph)I got some really good news. The credit card company gave me an increase to my credit limit. When I started this journey my scores were between 470 and 490(AdvantageScore 3.0). Now they are between 611 and 623(same scoring method). And I have you all at Nerd Wallet to thank for this.

  Sincerely,

  DeadManMoshing

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  Cori

  • February 03, 2023 15:47

  Wow, congrats, @DeadManMoshing! That's really great to hear :) 

  Thanks so much for the update - your great example of responsible card usage is an inspiration to so many consumers starting out on their financial journey! 

   

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  DeadManMoshing

  • February 16, 2023 02:26

  Belated Hi Cori,

  I know it's been a long while since I have posted. Well, towards the end of 2020 through the beginning of 2022 my score took a dive. I had to use credit to makeshift patch things (which I didn't like doing and regret). Fast forward to current day. Because of the tubulent times I had between 2020 through early 2022 my score dipped to the 580 range (Fico 8 and AdvantageScore 3). I have worked diligently on my scores and am between 686 and 692 (Fico 8) and between 690 and 701 (advantage score 3). Oh and also, I had 4 credit line increases between 3 cards. My goal of attaining above a 720 score is going to happen this year. I hope you enjoy

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