Chase Sapphire Visa or MC or is it like AMEX gold and platinum cards

[Anonymous]

Hi,

   I recently got approved for a Chase Sapphire Card with a good CL. But why do I feel that this is some what like the AMEX charge cards(GOld and Platinum) and not like other credit cards that have a set CL.

I know that to the CB AMEX reports as 0 balance with 0 available credit.

But other cards report as 0 balance on a $5000 CL.

Is sapphire also like that? Would they report the available credit or will they report 0 balance on 0 Available credit?

[Creditaddict]

Looks like just another Credit Card so it should report CL

[Creditaddict]

oops sorry I spoke to soon, just talked to my banker, it's a signature card, Chase only reports highest balance as your CL with signature products.

[Itsmeagain]

My Chase Sapphire card reports the CL.  Not sure why.  Maybe it's because it was PC'd from the Freedom card.  But, in any event, it shows my CL of 10K on all three credit reports.  It also shows the CL in the online account manager . . . . go figger.

[Creditaddict]

do you like the rewards better then the freedom, seems like 1to1 on saphire doesn't match the 3 to 1 i get on most freedom purchases, am i missing something about it besides the travel benefits?

[Itsmeagain]

Nope . . . you're missing nothing!!  I just got suckered in when it was first introduced.  The ONLY advantage is that when you call cs, a real human answers.

[Creditaddict]

darn it's so pretty looking too! lol

if you have cards like southwest and united, you can combine CL's onto Saphire also 

[Anonymous]

I heard that they report it as High balance. So if you used lets say $1000 one month then all it reports is the highest balance you ever had on that CC and not the CL on that card.

I will have to wait and see how it gets reported to the CRA.

[Itsmeagain]

OK, so I just called Sapphire . . . but I only got Bobbie . . . <g>

She said that:

• The Sapphire card is a Signature Card, with an "Access Line", not a Credit Card with a "Credit Limit".
• The credit limit I see reported on my credit report is actually the "Access Line" not a credit limit and is being reported as such only because it was PC'd from the "Freedom Card".
• New Sapphine customers will not see a CL on their report, only the high balance.
• The biggest difference between the Sapphire and the Freedom is that one can exceed the Access Line with No Penalties, the other can not..
• She also said that the reported CL may go away someday, depending on when/if Chase changes the way they report.

Confused yet?

I also asked about the difference in rewards.  She said to expect changes soon that will make Sapphire more attractive.  I hope the changes are more than just the card design . . .

[Creditaddict]

well someone post back when the "more attractive" rewards happen and I will think about PC the Freedom card