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Regular Contributor
Posts: 201
Registered: ‎01-21-2012
0

BofA siggy reporting Limit on EX ?

[ Edited ]

I was under the impression the BofA 1-2-3 signature card didn't traditionally report balance, high balance and limit on a tradeline. Well, on my USAA CMS they are reporting the whole enchilada on my EX report (though not on EQ and TU). It lists this TL as a flexible spending credit card with revolving terms and if it matters, it was a PC from an old (and very ugly) Gold card. 

 

Is this the norm? 

If I carry a balance, how does this this affect my score?

 

Ugh.

BofA Cash Rewards Signature Visa 5k
Chase Freedom 9k
BBRZ MC 800 (SD)
Valued Contributor
Posts: 1,486
Registered: ‎08-30-2011
0

Re: BofA siggy reporting Limit on EX ?

[ Edited ]

MontegoMack wrote:

I was under the impression the BofA 1-2-3 signature card didn't traditionally report balance, high balance and limit on a tradeline. Well, on my USAA CMS they are reporting the whole enchilada on my EX report (though not on EQ and TU). It lists this TL as a flexible spending credit card with revolving terms and if it matters, it was a PC from an old (and very ugly) Gold card. 

 

Is this the norm? 

If I carry a balance, how does this this affect my score?

 

Ugh.


As you can see from my signature, I have 2 BofA accounts --a Cash Rewards card and a Merrill Lynch Platinum Plus card.  They are both Visa Signature cards...as are my Chase Sapphire Preferred and JP Morgan Select.  All signature cards.  All report on my 3 bureaus. All show a CL, all show a high balance, all show "flexible spending card".  Also as you can see, I'm in the 800 club.  So I think it helps my score, and will likely help your score to report.  I've carried a balance on my BofA and ML cards on occasion, and had practically no impact on my score.  I didn't request that they report this way, they just do.

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10.5K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 823 TU = 822 as of 07/15
Moderator Emeritus
Posts: 12,906
Registered: ‎12-30-2011
0

Re: BofA siggy reporting Limit on EX ?

If a card reports a limit, than the limit and balance are calculated into revolving utilization metric.

 

If a card does not report a limit, than the high balance and the current balance are used.

 

Only really irritating thing about this once known, is some lenders will reset the high balance number after some period Smiley Sad.

 

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Blogger
Posts: 3,360
Registered: ‎10-19-2012
0

Re: BofA siggy reporting Limit on EX ?

For most people, BofA would not report the limit of a Visa Signature. However, I've seen a few exceptions recently. I have no idea why these exceptions exist, but they are certainly not the norm.

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