Two interesting notes - I emailed the new company to ask about adding 2 cards that just passed 1 year of age and was told that they are very unlikely to get any sales until they are 2 years old, because a card that young can lower the average account age of the customer, and sometimes actually drop their credit score. I hadn't heard this reasoning before, but it explains the incredible low order volume on cards 1-2 years old.
Yep. The older it is, the more it helps their average age, and if it's younger, it could possibly hurt. The younger cards are less likely to see sales UNLESS it has a large limit.
So someone might buy, say, a 1 year old card with 30k limit, and 11 year old card with 10k limit which will add 40k credit limit and an average age between the two of 6 years each.
I was also told that the new company is launching a new online interface this week! I am excited, because the online interface is my favorite part about the old company's process. It was also hinted that users can add cards themselves - maybe we'll also be able to remove them, or set limits on tradeline sales without emailing?
Indeed! This is the system I referenced in the initial comparison post:
The new company has a portal, sort of, but it's not in use. I got a login for it and poked around, and can see why it's not being used. Right now they manually do everything. So when you get tradeline sales, they email you with the AU info to add (and, if Discover, email the info that might need to be uploaded). After you add them, you email them back to confirm you added it. Later they will tell you when to remove the AU, via (you guessed it) an email.
This could be considered a pro, if you like that personal touch, or a con, if you like it all automated, and less emails.
They are working on tweaking/updating their portal, and their owner swears it will be in use soon, but there's a lot of work to be done from what I can see. For now, the manual (email) way does work, even if it's less efficient.
Like I said, I've had access since October, but they've been working on updating and improving it for the past few months, and it's supposed to roll out tomorrow! I'm excited to see it.The company will send an email to everyone once it's up.
No need to email them asking--you guys will know.
This is the one major area where the new recommendation was behind the old company, like I mentioned, so this is pretty exciting.
The new portal will add many features catching them up with the old company (like text notifications, online tracking of orders) and address the concern brought up earlier in the thread about the AU info being sent over email.
Here is the things to know:
- Once you get the email from the company with the link to the portal, you will create a username and password, and enter in your information, and then log in with this newly created account.
- Once logged in, there is an interface to add your cards. It is the same information as in the contract (date opened, limit, provider, that info).
- You set up your contact information (email and/or phone). When someone purchases a spot on a card, you will get a notification by text/email letting them know they have a new add and to login for further instructions. Likewise, it will let you know when payments have been sent.
Make sure you go in and add your cards ASAP--that's the way to get sales under the new system (won't guarantee it, obviously, the main diver is still people wanting your card, but not getting it in there definitely will prevent you from getting sales once they're 100% switched over to the new system).Hold off questions if you can for the moment--you should be able to log in and try it yourself, soon!
I'd hold off emailing the company for the moment on miscellaneous stuff as well (except if related to an AU add), simply because they're quite busy getting this launched, but give it a few days, and then everything should be good to go. Stuff tends to be "bumpy" when new systems come into place, so keep that in mind, but hopefully this won't have too many hiccups. We'll cross our fingers.
Plus everything should be much smoother going forward.