Reply
Contributor
Posts: 122
Registered: ‎08-19-2012
0

Bank of America Cash Rewards not reporting CL

I was looking over my Discover FICO report this morning and noticed that BoA does not report the CL of my Cash Rewards Visa. Does this mean that that amount isn't factoring into my total CL on my credit report? Is there any way to change this, or does it not really matter?

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
0

Re: Bank of America Cash Rewards not reporting CL

Do you have the visa signature cash rewards or the regular one?
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Frequent Contributor
Posts: 309
Registered: ‎08-05-2011
0

Re: Bank of America Cash Rewards not reporting CL


severine wrote:

I was looking over my Discover FICO report this morning and noticed that BoA does not report the CL of my Cash Rewards Visa. Does this mean that that amount isn't factoring into my total CL on my credit report? Is there any way to change this, or does it not really matter?


If its a signature card, the CL is not reported.  BoFA is about the only bank who does not report limts of siggy's. Most any other lender does.


Starting Score: 770
Current Score: 765 (EX) 763 (EQ) 756 (TU)

Auto Enhanced: 788 (EX)
Goal Score: 800
Take the FICO Fitness Challenge
Contributor
Posts: 122
Registered: ‎08-19-2012
0

Re: Bank of America Cash Rewards not reporting CL

I have the signature cash rewards one...

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Frequent Contributor
Posts: 309
Registered: ‎08-05-2011
0

Re: Bank of America Cash Rewards not reporting CL


severine wrote:

I have the signature cash rewards one...


You can call and have them downgrade your card via a Product change to a Platinum version if you want the CL to report...


Starting Score: 770
Current Score: 765 (EX) 763 (EQ) 756 (TU)

Auto Enhanced: 788 (EX)
Goal Score: 800
Take the FICO Fitness Challenge
Contributor
Posts: 122
Registered: ‎08-19-2012
0

Re: Bank of America Cash Rewards not reporting CL

Hmmm, ok, this is interesing, thanks! Not sure if it's that big of a deal to me to request a change. What might be their logic behind this?

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Frequent Contributor
Posts: 309
Registered: ‎08-05-2011
0

Re: Bank of America Cash Rewards not reporting CL

[ Edited ]

severine wrote:

Hmmm, ok, this is interesing, thanks! Not sure if it's that big of a deal to me to request a change. What might be their logic behind this?


The signature cards are NPSL which allow you to spend past your account CL.  The Visa Signature cards were VISA's answer to an AMEX like card which only reports the high balance rather than the CL.  Over time though customers feedback was pretty negative as these cards CL's were not included in utilisation, so utilisation calculations were purely based on high balance which can be good or bad depending on your credit profile.  If you need the CL to be taken in to account for util, PC to a platinum version of this card, if you have have high credit limits and don't need the CL to report or simply dont care, leave it as it is.  FWIW I think Bank of America are just behind the times!


Starting Score: 770
Current Score: 765 (EX) 763 (EQ) 756 (TU)

Auto Enhanced: 788 (EX)
Goal Score: 800
Take the FICO Fitness Challenge
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Bank of America Cash Rewards not reporting CL


CreditMuppet wrote:

severine wrote:

Hmmm, ok, this is interesing, thanks! Not sure if it's that big of a deal to me to request a change. What might be their logic behind this?


The signature cards are NPSL which allow you to spend past your account CL.  The Visa Signature cards were VISA's answer to an AMEX like card which only reports the high balance rather than the CL.  Over time though customers feedback was pretty negative as these cards CL's were not included in utilisation which can be good or bad depending on your credit profile.  If you need the CL to be taken in to account for util, PC to a platinum version of this card, if you have have high credit limits and don't need the CL to report or simply dont care, leave it as it is.  FWIW I think Bank of America are just behind the times!


previous poster imostly right but wrong on a key point.  Fico scores takes visa signature card utilization into account.  But when no limits show, it uses the high balance as the credit limit in util calculations.  Many if not most visa sig now report limits.  Bofa just hasn't caught up.

               LIMITS IN CARD DESCRIPTIONS
Contributor
Posts: 122
Registered: ‎08-19-2012
0

Re: Bank of America Cash Rewards not reporting CL

Thanks @creditmuppet!

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Frequent Contributor
Posts: 309
Registered: ‎08-05-2011
0

Re: Bank of America Cash Rewards not reporting CL

[ Edited ]

Crashem wrote:

CreditMuppet wrote:

severine wrote:

Hmmm, ok, this is interesing, thanks! Not sure if it's that big of a deal to me to request a change. What might be their logic behind this?


The signature cards are NPSL which allow you to spend past your account CL.  The Visa Signature cards were VISA's answer to an AMEX like card which only reports the high balance rather than the CL.  Over time though customers feedback was pretty negative as these cards CL's were not included in utilisation which can be good or bad depending on your credit profile.  If you need the CL to be taken in to account for util, PC to a platinum version of this card, if you have have high credit limits and don't need the CL to report or simply dont care, leave it as it is.  FWIW I think Bank of America are just behind the times!


previous poster imostly right but wrong on a key point.  Fico scores takes visa signature card utilization into account.  But when no limits show, it uses the high balance as the credit limit in util calculations.  Many if not most visa sig now report limits.  Bofa just hasn't caught up.


Sorry, fixed my post, I did mention the high balance was reported but failed to clarify that it was included in utilisation calculations.  Thanks for the reminder crashem! and BTW every time I look up on every forum, there you are :smileysurprised:


Starting Score: 770
Current Score: 765 (EX) 763 (EQ) 756 (TU)

Auto Enhanced: 788 (EX)
Goal Score: 800
Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.