topic Re: What is big deal over NPSL? in Credit Cards

What is big deal over NPSL?

corymcd88 — Mon, 19 Mar 2012 02:23:46 GMT

Wat is the big deal over haveing a NPSL? Is it beter from the credit report side to have a CL?

Re: What is big deal over NPSL?

pizzadude — Mon, 19 Mar 2012 02:25:08 GMT

It doesn't count your in your revolving utilization, with the exception of the TU98 FICO version sold here. So you can use it without worrying too much about your FICO score.

Re: What is big deal over NPSL?

drsmith — Mon, 19 Mar 2012 02:26:37 GMT

I haven't seen anyone making a big deal about it.

Re: What is big deal over NPSL?

corymcd88 — Mon, 19 Mar 2012 02:28:07 GMT

drsmith wrote:
I haven't seen anyone making a big deal about it.

I gave seen people say that thay want an NPSL!

Re: What is big deal over NPSL?

corymcd88 — Mon, 19 Mar 2012 02:29:51 GMT

pizzadude wrote:

It doesn't count your in your revolving utilization, with the exception of the TU98 FICO version sold here. So you can use it without worrying too much about your FICO score.

Whay would you not want it to count on your utilization? Mine is 5%. It would help me bring that down.

Re: What is big deal over NPSL?

drsmith — Mon, 19 Mar 2012 02:30:18 GMT

I haven't

Re: What is big deal over NPSL?

pizzadude — Mon, 19 Mar 2012 02:32:38 GMT

corymcd88 wrote:
pizzadude wrote:

It doesn't count your in your revolving utilization, with the exception of the TU98 FICO version sold here. So you can use it without worrying too much about your FICO score.
Whay would you not want it to count on your utilization? Mine is 5%. It would help me bring that down.

Say that you charge $2,000 every month on a credit card with a $4,000 limit. FICO would score this at 50% utilization which is going to result in a scoring ding.

On a charge card the $2,000 you spend doesn't count against utilization.

Re: What is big deal over NPSL?

CreditScholar — Mon, 19 Mar 2012 02:42:01 GMT

I honestly don't see it as a huge attraction with one exception. If you're running a business and have expenses that vary greatly from month-to-month, having that flexibility is essential. If your copier breaks and you need a new one immediately for $50,000, you'd be hard-pressed to find a credit card with that high of a CL. A NPSL charge card would allow you to charge that and pay it off at the end of the month.

For most other people though it's not that big of a deal. The only time util% matters is when you're applying for new credit. If you know you're going to be apping soon, it just means that you should pay down your balances before your statements cut to 1-9%. Then you wait for them to report, and only then do you apply.

You don't need a NPSL for this, as long as you can plan your apps a month in advance. All it takes is a bit of planning and patience.

Re: What is big deal over NPSL?

GBPac12 — Mon, 19 Mar 2012 04:30:24 GMT

A NPSL add a bit of spice to your life :)

I actually feel that the NPSL is a sign of prestige, a lit bit though... Or should I say an "elite" class among CCs.

Just my two cents....

Re: What is big deal over NPSL?

CreditScholar — Mon, 19 Mar 2012 04:34:21 GMT

GBPac12 wrote:
A NPSL add a bit of spice to your life :)

I actually feel that the NPSL is a sign of prestige, a lit bit though... Or should I say an "elite" class among CCs.

Just my two cents....

-1. Completely disagree here. The Zync is a NPSL card, and I'd hardly call it prestigious or elite. It's neither.

Re: What is big deal over NPSL?

GBPac12 — Mon, 19 Mar 2012 04:37:10 GMT

CreditScholar wrote:
GBPac12 wrote:
A NPSL add a bit of spice to your life :)

I actually feel that the NPSL is a sign of prestige, a lit bit though... Or should I say an "elite" class among CCs.

Just my two cents....
-1. Completely disagree here. The Zync is a NPSL card, and I'd hardly call it prestigious or elite. It's neither.

I somewhat agree with what your saying, but I was actually referring to the concept of a NPSL CC, rather then a specific CC. I am pretty sure if you look hard enough you will find a few outliers. :smileyvery-happy:

Re: What is big deal over NPSL?

Koop10010 — Mon, 19 Mar 2012 05:25:58 GMT

It's no big deal most of the time. The main benefit is the ability to make the occasional large purchase that would exceed your hard credit limit. For instance, my Amex Blue has a $6,000 limit. If I wanted to buy something for $8,000, I would be SOL. Except I also have a Gold, where I could check my spending ability online and then would either have to call in to give more information to get it approved or could go ahead with the purchase. It's the same thing with Signature Visa cards. If you just had a $5,000 limit, that might be fine most of the time, but for a $6,000 purchase you couldn't use it. But with NPSL, you can call ahead and explain the situation to get a larger purchase approved. It's just nice to have the ability to spend a little extra in certain situations.

Re: What is big deal over NPSL?

bichonmom — Mon, 19 Mar 2012 05:36:10 GMT

I don't get that it's a big deal. I think people just include that here to distinguish between NPSL and the Zyncs with a hard limit. I don't see people putting NPSL after green or gold card, because theyre all NPSL.

BTW, If someone isn't sure they'll be approved for the Zync card, obviously they would rather have the NPSL than have a hard $200 limit. So, that might be what you've seen. But I seldom see anyone referring to it.

Re: What is big deal over NPSL?

CreditScholar — Mon, 19 Mar 2012 06:19:37 GMT

Koop10010 wrote:
It's no big deal most of the time. The main benefit is the ability to make the occasional large purchase that would exceed your hard credit limit. For instance, my Amex Blue has a $6,000 limit. If I wanted to buy something for $8,000, I would be SOL. Except I also have a Gold, where I could check my spending ability online and then would either have to call in to give more information to get it approved or could go ahead with the purchase. It's the same thing with Signature Visa cards. If you just had a $5,000 limit, that might be fine most of the time, but for a $6,000 purchase you couldn't use it. But with NPSL, you can call ahead and explain the situation to get a larger purchase approved. It's just nice to have the ability to spend a little extra in certain situations.

Depending on the circumstances, you can go over the limit on a visa signature. I've done this once before.

I called up the day before and told them I wanted to push through a 24k charge even though my CL was $18,200. They asked me some questions and then said it'd be fine. I went in the next day, it went straight through, and I PIFed at the end of the month. It was no big deal.

It's only happened to me once in 12 years. I don't think people always need a NPSL card for something that occurs so rarely. People have set CLs for a reason.

Re: What is big deal over NPSL?

drkaje — Mon, 19 Mar 2012 10:23:05 GMT

GBPac12 wrote:
A NPSL add a bit of spice to your life :)

I actually feel that the NPSL is a sign of prestige, a lit bit though... Or should I say an "elite" class among CCs.

Just my two cents....

What we can afford to pay back is generally preset. :)

Re: What is big deal over NPSL?

LS2982 — Mon, 19 Mar 2012 10:29:32 GMT

pizzadude wrote:

It doesn't count your in your revolving utilization, with the exception of the TU98 FICO version sold here. So you can use it without worrying too much about your FICO score.

Re: What is big deal over NPSL?

navigatethis12 — Mon, 19 Mar 2012 12:26:22 GMT

It is probably the bank marketing that is making it a big deal. I guess them trying to make the card more prestigious. It is not a big deal to me. I did recently go over my limit just to see what would happen and it was all fine. The one I have from PNC does report the limit of 5200 though. My utilization is 90% of the time zero anyway so to me it would not matter if it did not report a limit.

Re: What is big deal over NPSL?

afbar1114 — Mon, 19 Mar 2012 12:31:47 GMT

i like my zync NPSL because 1) it ment i rebuilt my credit. 2) it forces me to pay it off every month so i have been trying to get my spending under controll.. 3) if an emgerncy comes up i know i have card that will cover me 3) its amex i never thought i would ever have an amex... people seem to look at you diffrent when you pull out an amex for some reason.. VISA siggy cards have NPSL but the avg person doesnt know that so they think that having an AMEX is like having lots of money.. i never came across a place that didnt take amex and small places i never thought would take amex do take it...but i also carry my chase visa and a mastercard by cap1

Re: What is big deal over NPSL?

TannerK — Mon, 19 Mar 2012 13:14:30 GMT

afbar1114 wrote:
i like my zync NPSL because 1) it ment i rebuilt my credit. 2) it forces me to pay it off every month so i have been trying to get my spending under controll.. 3) if an emgerncy comes up i know i have card that will cover me 3) its amex i never thought i would ever have an amex... people seem to look at you diffrent when you pull out an amex for some reason.. VISA siggy cards have NPSL but the avg person doesnt know that so they think that having an AMEX is like having lots of money.. i never came across a place that didnt take amex and small places i never thought would take amex do take it...but i also carry my chase visa and a mastercard by cap1

It doesnt count in uti (for Amex). If it did I would most likely have a score around 650-670 instead of 755-770 from centurion alone pushing my uti.

Theres 2 different NPSL in my mind. The Amex kind where you dont have a clue what your limit is and it reports as a real NPSL. Then you have the NPSL that Visa and MC issue where they give you a limit and say once you go over the limit then they appove on a per charge basis. Those cards report a limit though and thus, are factored in to uti (Chase sapphire as an example).

I dont see anything prestegious in NPSL. Its just a helper due to the over limit fees gone and the Amex version of NPSL not reporting in util.

Re: What is big deal over NPSL?

Open123 — Mon, 19 Mar 2012 15:25:21 GMT

For me, main thing is that it doesn't kill my Fico score. I'm not seeking any loans and Fico scores aren't that important now, but I still don't like seeing it drop 20 points just because I've gone over some imaginary line of utility demarcation deemed too high.

If I spend 20k/month on X stuff, I'm not going to seek 200k CL just to keep my utility to 10%. And, I've got tired and constantly paying before the statement cuts, etc...

NPSL is easier to manage when pushing large spending.