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I searched around the site and didn't find any answers, so here it is. When we apply and get our GTC the card is on our name and assuming we pay it off with our own money, are we getting any credit history at all?
 
Posts: 16 | Registered: Wed 12 April 2006Reply With QuoteEdit or Delete Message
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UPDATE
QUOTE: "Travel card issuing banks generally do not report travel card activity to the credit bureaus unless the account charges off (i.e., delinquent amounts over 210 days not recoverable). Also, a salary offset procedure will likely be utilized before charging off an account. Simply having a government travel card will not harm your credit rating. While credit bureaus do take into account the amount of available credit and credit instruments in assessing a credit score, the typical $5,000 government travel card is not going to negatively affect that rating, if it is reflected at all."
So the credit bureaus don't get reports of GTC activity, but they know about the avaliable credit. So now it becomes a question of wether $5,000 in avaliable credit will change anything.
 
Posts: 16 | Registered: Wed 12 April 2006Reply With QuoteEdit or Delete Message
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I've had a GTC for many years and have bever seen it reported as a trade line on my credit file. If it is not reported as a trade line, then then it can have no influence on your file including the average age of accounts and available balance.

If, however, a trade line is opened for that account, every trade line reports the age of the account, the available balance and your current balance. This will effect your credit score in that it lowers your average age of accounts and will have an effect -- either positive or negative -- on your credit utilization ratio. Average age of accounts and credit utilization are two crucial factors in determining your FICO credit score.
 
Posts: 4 | Registered: Fri 08 May 2009Reply With QuoteEdit or Delete Message
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