Chase Sapphire ?

[jb5355]

I was just approved with a $5000 credit access line. I have read alot of different things about Credit access lines and to be honest im not sure who to believe. So if someone knows the deal can you please let me know how they report your credit limit and how it effects utilization. thank you for your time.

[BigBS]

I don't have a CSP, but my Chase freedom VS reports as a Flexible Spending Credit Limit and is include in my total available CL for utilization.

[nachoslibres]

Credit access line - as in credit limit on your Sapphire?  Means you can charge up to $5k on the card before you hit the limit.  Utilization is the amount of debt that is on the card compared to the limit (so if you have a balance of $2500 and your limit is $5000 your utilization is 50%).  Balance and utlization is usually only reported when the statement ends - and you usually won't know that date until after the first statement ends.

They will report your limit and your balance on the card each time the statement finalizes on your credit reports.  Most people say to keep your utilization from 1-10% (sometimes up to 30%) for optimal scoring but if you know when the statement will cut you could charge up to the limit and then pay it down before the statement closes.

[jb5355]

thank you for the response. so your limit on your freedom does count towards your total credit on your credit report?

[jb5355]

thank you for the info. i guess my main question was whether or not the $5000 limit on the sapphire will count towards my total credit limits for utilization purposes. i have read on some other forums that credit access lines dont report your whole limit. only what you spend. so im worried about this card tanking my score do to utilization. i have a few other cards but they all have limits alot lower than than the sapphire.

[nachoslibres]

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@jb5355 wrote:

thank you for the response. so your limit on your freedom does count towards your total credit on your credit report?

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Yes, the limit on the Freedom counts toward my total credit.  So $15k on the Freedom and $20k on the Arrival Plus means I have $35k all together.

[nachoslibres]

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@jb5355 wrote:

thank you for the info. i guess my main question was whether or not the $5000 limit on the sapphire will count towards my total credit limits for utilization purposes. i have read on some other forums that credit access lines dont report your whole limit. only what you spend. so im worried about this card tanking my score do to utilization. i have a few other cards but they all have limits alot lower than than the sapphire.

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Yes, it counts towards total limits.  As far as scoring and risk goes - the utilization of all your credit lines has an affect as well as individual utilization.  So you could have a credit limit of say $100k across all your cards and only carry a balance of $1k across all cards for 1% utilitzation - but if the card you were carrying the $1k balance on had a limit of $1k then that would likely drop your score because your utilization on that specific card is very high (100%).

If you carry high utilizations on cards from a specific bank (i.e. Chase) but have a low utilization overall they may still decline you for a card due to high utilization on their cards (and increased perceived risk).

[makin_no_cents]

I have the CSP - it WILL report your limit and therefore will be included in your avail and util measurements 

[jb5355]

Awesome thats what i was hoping, thanks for the help guys.