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Ok- so here's the deal folks-I have a Sig-Visa and a World MC both through Chase-Both with CLs over 25k-both were automatically upgraded to Signature/World status so I could enjoy the XTRA benefits-but with these extra benefits comes a hitch-NO CL WILL REPORT- yes you can charge up to your "Access Line" that has been given to you (this is what they are calling it instead of a CL so it won't report) and pay it off and it will report as your HIGH BALANCE-ONLY. NOT UR CL AND WILL NOT BE FACTORED AS A CL ON YOUR CREDIT REPORTS AND NOT AFFECT YOUR UTILITIES. And yes. one of the benefits of having these cards is that you can charge over the assigned 'Access Line' as long as you pay the overage amount charged above your 'Access Line' at the end of the billing cycle( so I can make a 28K purchase on my 25k Visa Sig as long as I make a 3k payment by the due date).Technically, the only way get your CL to report is to downgrade to Platinum -but Siggie's and world MC'S w/Chase are not allowed-they will tell you that your card is not allowed/doesn't qualify for the downgrade and that you will have to APPLY for a Platinum card(in other words, apply for a new account)-also from now on,any card that is approved w/ a CL 5K OR GREATER will automatically be a VIS SIG or WORLD MC-the ONLY WAY to get a CL to report on a new account is to make sure you tell them that you want your CL limit to report and to start you off with a CL below 5K(and yes, it will grow as normal)-that way you avoid the new 'RULE' that any credit account approved for 5K or more is automatically a Visa Sig or World MC.
@scottwagnon wrote:YES!!!!!!!!!!!!!!!! YES!!!!!!!!!!!!!!!!!! I THOUGHT NOBODY WAS GETTING THIS! +1000. thank you trumpet. you explained this perfectly, thus perfectly taking the words from my mouth.
look peoples, there is a way you can express a limit as high balance. just do what i did and go to best buy, charge near the limit or past it (dosen't matter). wait for the balance to post. than immediately return the merchandise untouched. (please dont touch) this will take 5 days tops; i would suggest only doing this just after the statement cuts. please be careful with merchandise; there is a risk of damaging merchandise if you are not careful. i was fine however, not a scratch, not even to the shrink wrap; they smiled at me and told me, "thank you for choosing best buy" when i completed the return transaction.
I would call this unethical manipulation of one's credit score. You are recommending that someone make a large purchase to artifically boost their high past balance without having any intention to keep it.
Please review the Forum's Terms of Service which prohibit:
Discussion of illegal or unethical activities or providing links to other websites containing such information;
MarineVietVet, myFICO moderator
@MarineVietVet wrote:
@scottwagnon wrote:YES!!!!!!!!!!!!!!!! YES!!!!!!!!!!!!!!!!!! I THOUGHT NOBODY WAS GETTING THIS! +1000. thank you trumpet. you explained this perfectly, thus perfectly taking the words from my mouth.
look peoples, there is a way you can express a limit as high balance. just do what i did and go to best buy, charge near the limit or past it (dosen't matter). wait for the balance to post. than immediately return the merchandise untouched. (please dont touch) this will take 5 days tops; i would suggest only doing this just after the statement cuts. please be careful with merchandise; there is a risk of damaging merchandise if you are not careful. i was fine however, not a scratch, not even to the shrink wrap; they smiled at me and told me, "thank you for choosing best buy" when i completed the return transaction.
I would call this unethical manipulation of one's credit score. You are recommending that someone make a large purchase to artifically boost their high past balance without having any intention to keep it.
Please review the Forum's Terms of Service which prohibit:
Discussion of illegal or unethical activities or providing links to other websites containing such information;
MarineVietVet, myFICO moderator
+100
IMHO, this is too unethical and extreme manipulation. Not only unethical with the scores but also a intentional misuse of return policies. Lets keep it nice and neat so that we and generations after us can continue to enjoy return policies in good faith.
sigh... i should keep my ideas to myself. my suggestion was not ethical. based on ethics please disregard my suggestion. however, i would advise AGAINST returning merchandise if you intend to USE it or accidently damage any merchandise that you have purchased. in other words if anyone has considered my suggestion, PLEASE DO NOT RETURN MERCHANDISE if you have damaged or opened it. and on ethical terms, i will advise you not return the merchandise unless it is defective.
I looked at the Title for the post and went SWEET !
But alas, it was not to be