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Last August I opened the 99/500 credit card with Boa. I have used it much and treated it well. They upgraded me at 9 months to unsecured and I got a cli to 2000.00. I have really been wanting a Visa Signature card but don't really want to apply for anything else. So I called Boa today and asked if my credit limit could be raised to 5000.00 and my card become a Visa Signature. I answered all the normal questions and they approved me after a few minutes on hold. They used the same pull from 2 weeks ago which was awesome!! I will get a new card and card number but they said it will still show the account opened in August and my rewards will transfer over. I am super excited!!!
So how does the signature card show different on my credit report? Will it just not factor in my utility?
Wow that's fast track! Congratulations!!!
I'm 99% confident your Visa Signature card will report high balance, not credit limit. The high balance will be used in lieu of credit limit in calculating utilization
@HiLine wrote:Wow that's fast track! Congratulations!!!
I'm 99% confident your Visa Signature card will report high balance, not credit limit. The high balance will be used in lieu of credit limit in calculating utilization
Thanks!
I never carry a balance with them..... I bank with them as well so I pif pretty much every week. So if I did run a balance with them, my balance will count against my total utilization from all cards rather than just against the limit I have with them right?
Right. If the high balance is 2k, then 2k will basically be your credit limit for utilization purposes. Keep in mind that this is daily high balance, so it's not necessary to carry a balance and pay interest. Simply concentrate your spending on the card for a whole billing cycle + grace period, then pay off the balance before the grace period ends.
@snowkitty wrote:Last August I opened the 99/500 credit card with Boa. I have used it much and treated it well. They upgraded me at 9 months to unsecured and I got a cli to 2000.00. I have really been wanting a Visa Signature card but don't really want to apply for anything else. So I called Boa today and asked if my credit limit could be raised to 5000.00 and my card become a Visa Signature. I answered all the normal questions and they approved me after a few minutes on hold. They used the same pull from 2 weeks ago which was awesome!! I will get a new card and card number but they said it will still show the account opened in August and my rewards will transfer over. I am super excited!!!
So how does the signature card show different on my credit report? Will it just not factor in my utility?
Congrats
I was told that only certain BOA Signature cards do not report the credit line, but not all. The 3-2-1 cards supposedly report the credit limit given, not the high balance.
@emptypockets wrote:My BOA Signature card (Better Balance Rewards) shows the Limit on my reports.
The BBR is a MC right? Not a Visa? BoA Visa Sig doesn't report balances, but their MC's do.
@emptypockets wrote:I was told that only certain BOA Signature cards do not report the credit line, but not all. The 3-2-1 cards supposedly report the credit limit given, not the high balance.
My BoA BankAmerican Privileges /w Cash Rewards does not report CL as confirmed by many on here. It shows N/A on CL and N/A on high balance. It does said flexible spending account.
@emptypockets wrote:I was told that only certain BOA Signature cards do not report the credit line, but not all. The 3-2-1 cards supposedly report the credit limit given, not the high balance.
That is what I have, the 3-2-1 cash rewards card. I meant to ask if changing to a signature waived the annual fee that came with the 99/500. I guess I will wait until it comes in and then call and ask.