Credit Cards

[aloush11]

For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

[Crashem]

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aloush11 wrote:
For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

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Great info to know.  Some card issuers do that and others only report the high statement balance as high balance.  Good to know how BofA acts.

[tinuviel]

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aloush11 wrote:
For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

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Good to know, thanks! This is gonna be an interesting experience... new stuff to learn!

[Open123]

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tinuviel wrote:

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aloush11 wrote:
For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

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Good to know, thanks! This is gonna be an interesting experience... new stuff to learn!

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This is one of the reasons (aside from signup bonuses) I enjoy most about opening new cards.  Learning and experience new features and what a new issuer has to offer.  I even find it interesting the differences in online account set up features.

[YahComb]

BOA also reports highest balance at any one time for me. So technically you can wait until like a week before the due date to pay off the first statement, then you'll have all of the first month+2-3 weeks more worth of spending. After that resume your normal PIF habits.

[Revelate]

BOFA religiously reports high balance at any point, not just the statement balance.

I think, and I could be wrong, that this is what FICO uses for calculation on FSA / Visa Sig accounts without limits.