Reply
Regular Contributor
Iincognito
Posts: 181
Registered: ‎04-21-2010

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".

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Valued Contributor
Crashem
Posts: 3,098
Registered: ‎01-26-2012

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
Established Contributor
YahComb
Posts: 592
Registered: ‎03-10-2012

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-730(06/30/14) TU-758(06/19/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 2.92yr AAOA: 24.8 mo
Regular Contributor
Iincognito
Posts: 181
Registered: ‎04-21-2010

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.

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

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

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

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Established Contributor
Smug
Posts: 961
Registered: ‎12-21-2010

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!
Established Contributor
Cory
Posts: 671
Registered: ‎03-15-2007

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.

1. American Express Blue Cash Preferred~2. BankAmericard Cash Rewards World MasterCard~3. BankAmericard Travel Rewards Visa Signature ~4. Discover It~5. Citi Forward Visa Signature~6. CCCU MasterCard.
Regular Contributor
Iincognito
Posts: 181
Registered: ‎04-21-2010

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.

 

 

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012

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



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Regular Contributor
Iincognito
Posts: 181
Registered: ‎04-21-2010

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.

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+