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BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard

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Iincognito
Regular Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard


@Crashem wrote:

You sure it wasn't reporting limits?  Many visa sig reporting limits now


Unfortunately, the card does not report a credit limit; it is being reported as a "Flexible Spending Account".

Message 11 of 20
Crashem
Valued Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard


@Iincognito wrote:

@Crashem wrote:

You sure it wasn't reporting limits?  Many visa sig reporting limits now


Unfortunately, the card does not report a credit limit; it is being reported as a "Flexible Spending Account".


wow bofa is slow.  My expectation is that it will report a limit sometime in near future as changes to bureaus to allowproper reporting of npsl cards is recent and issuers are just catching up.

               LIMITS IN CARD DESCRIPTIONS
Message 12 of 20
YahComb
Established Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard

reading around you'll see BOA is really the only major lender that's not onboard with CL reporting yet.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 13 of 20
Iincognito
Regular Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard


@Crashem wrote:

@Iincognito wrote:

@Crashem wrote:

You sure it wasn't reporting limits?  Many visa sig reporting limits now


Unfortunately, the card does not report a credit limit; it is being reported as a "Flexible Spending Account".


wow bofa is slow.  My expectation is that it will report a limit sometime in near future as changes to bureaus to allowproper reporting of npsl cards is recent and issuers are just catching up.


Agree. If they start reporting credit lines on their Signature Cards, I will ask for another 'product change' a year from now.

Message 14 of 20
jsucool76
Super Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard

What's the difference between a platinum and platinum plus? 

Message 15 of 20
Smug
Established Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard

I like my visa sig not reporting as I can get more credit not showing!
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 16 of 20
Cory
Established Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard

This topic is ongoing. I guess this is a case by case, as my BofA Visa Sig, and World MasterCard report the limits, and they are both NPSL. Just like the previous poster before me, I don't care about the limit reporting either. There is a benefit of it not reporting for me.

Message 17 of 20
Iincognito
Regular Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard


@Cory wrote:

This topic is ongoing. I guess this is a case by case, as my BofA Visa Sig, and World MasterCard report the limits, and they are both NPSL. Just like the previous poster before me, I don't care about the limit reporting either. There is a benefit of it not reporting for me.


Agreed, definitely a case-by-case situation. I would rather have the credit limit report, since I carry a balance on a couple of my cards. To have a balance on a signature card and have it count against my overall utilization without reporting a credit limit, does not make any sence for me. I would rather work with exhibit 2 instead of exhibit 1.

 

Exhibit 1

card 1 - credit limit = $5,000, balance = $0

card 2 - credit limit = $5,000, balance = $0

card 3 - credit limit = $5,000, balance = $2,500

card 4 - signature card credit limit = $5,000 (not reported), balance = $2,500

 

In this case, my reported credit limit is $15,000 and my balance is $5,000 (utilitzation is at 33%)

 

Exhibit 2

card 1 - credit limit = $5,000, balance = $0

card 2 - credit limit = $5,000, balance = $0

card 3 - credit limit = $5,000, balance = $2,500

card 4 - credit limit = $5,000, balance = $2,500

 

In this case, my reported credit limit is $20,000 and my balance is $5,000 (utilitzation is at 25%)

 

 

Bottom line, some people prefer signature/ world card for the additional benefits, others will never use those benefits and perhaps, as in my case, prefer having a reported limit.

 

 

Message 18 of 20
gettnthere
Established Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard


@Iincognito wrote:

@Cory wrote:

This topic is ongoing. I guess this is a case by case, as my BofA Visa Sig, and World MasterCard report the limits, and they are both NPSL. Just like the previous poster before me, I don't care about the limit reporting either. There is a benefit of it not reporting for me.


Agreed, definitely a case-by-case situation. I would rather have the credit limit report, since I carry a balance on a couple of my cards. To have a balance on a signature card and have it count against my overall utilization without reporting a credit limit, does not make any sence for me. I would rather work with exhibit 2 instead of exhibit 1.

 

Exhibit 1

card 1 - credit limit = $5,000, balance = $0

card 2 - credit limit = $5,000, balance = $0

card 3 - credit limit = $5,000, balance = $2,500

card 4 - signature card credit limit = $5,000 (not reported), balance = $2,500

 

In this case, my reported credit limit is $15,000 and my balance is $5,000 (utilitzation is at 33%)

 

Exhibit 2

card 1 - credit limit = $5,000, balance = $0

card 2 - credit limit = $5,000, balance = $0

card 3 - credit limit = $5,000, balance = $2,500

card 4 - credit limit = $5,000, balance = $2,500

 

In this case, my reported credit limit is $20,000 and my balance is $5,000 (utilitzation is at 25%)

 

 

Bottom line, some people prefer signature/ world card for the additional benefits, others will never use those benefits and perhaps, as in my case, prefer having a reported limit.

 

 


I thought cards that are NPSL or cards that dont report the limit don't get counted towards utilization



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Message 19 of 20
Iincognito
Regular Contributor

Re: BankAmericard Cash Rewards change from Signature Visa to Platinum Plus Mastercard


@gettnthere wrote:

 

I thought cards that are NPSL or cards that dont report the limit don't get counted towards utilization


My Amex Premier Rewards card does not have a preset limit (NPSL) and the balance does not count in my utilization calculation; My BofA Signature Card had a set $10,000.00 spending limit (flexible spending account), and the balance counted in my total utilization.

Message 20 of 20
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