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Chase has begun reporting limits on all NPSL cards. The limit on my Chase Sapphire Preferred updated last month. Nice to have $45,000 in additional credit showing.
@anderl wrote:I have a Chase Visa Signature that just ,as of this month, began reporting the CL. Not sure why ,but it sure helps in my utilization since it added an xtra 35k in CL. It does report as Flexible Spending and reports the CL wheras before it only reported a High Balance(which didn't figure into my utilization at all); also my Chase World Elite MasterCard has begun to report the same way.
I have two Chase Visa Signature cards - a Sapphire and a Mileage Plus Visa. Sometime in the last few months, the way they're reporting to EQ and TU has changed. Previously, on both reports these cards were reported as "open" accounts. The "open" designation is a common way that no-preset-spending-limit cards are reported. For EQ, the balance and credit limits of open accounts are not used to calculate utilization. For TU98, open accounts are still used in utilization, but in the absence of a reported CL, the high balance is used instead.
Currently, both my Signature cards no longer have the "open" designation. Under account type, it now reads "revolving", just like the rest of my CCs. In the description field, they are both described as "flexible spending credit card".
My Sapphire now reports a CL, but the Mileage Plus Visa still reports only the high past balance. I'm a bit surprised by the difference, since they're issued by the same company.
I haven't sat down to figure out whether the change from "open" to "revolving" has affected my utilization on EQ. Eventually I'll get around to figuring that out.
(More about NPSL cards can be found here: Is there no limit to the confusion surrounding NPSL cards?)
B of A's Visa signature reports as a flexible spending CC and, as has been mentioned, reports your high balance instead of the limit. However, there are some scoring models that differentiate between balances with limits and flexible spending balances without reported limits. Looking at Credit Karma, my BofA balance shows up in a separate category from the others.
Im sorry for the confusion. I had since gone back an edited my reply. I was confusing BoA with chase.
@redwalker2929 wrote:Im sorry for the confusion. I had since gone back an edited my reply. I was confusing BoA with chase.
That's ok. The short lived moment of Holiday Hope with BoA and the Sig reporting the actual CL was kind of nice while it lasted
I wish I had read threads like this before applying for my BoA Visa Signature card. Now the high limit on this card is pointless. There's no way I can charge to this card even half of the limit they gave me. Is there a way to downgrade the card to a regular Visa? Or in the future is there a way you can specifically request that they not give you a Signature when applying?
@HiLine wrote:I wish I had read threads like this before applying for my BoA Visa Signature card. Now the high limit on this card is pointless. There's no way I can charge to this card even half of the limit they gave me. Is there a way to downgrade the card to a regular Visa? Or in the future is there a way you can specifically request that they not give you a Signature when applying?
Why? The signature is way better than a platinum visa.
I was hoping to leverage the high credit limit of my Signature to apply for other prime cards. With this limit not being reported, my overall credit limit is mediocre.
Okay so i get the Util arugment made by some and also the "hey bank look at my other CC limits, I deserve a hight CL from you because your competitors are giving me $xx,xxx CL"
I just happen to think that my CLs are nobodys business but my own. Not other banks, not potential employeers, not debt collectors. Nobody.
I would actually prefer all CCs to say "flexiable spending account" or not report my CLs at all.
@ccnewcc wrote:Okay so i get the Util arugment made by some and also the "hey bank look at my other CC limits, I deserve a hight CL from you because your competitors are giving me $xx,xxx CL"
I just happen to think that my CLs are nobodys business but my own. Not other banks, not potential employeers, not debt collectors. Nobody.
I would actually prefer all CCs to say "flexiable spending account" or not report my CLs at all.
You have less absolutely confidential personal information than you would think. Your SSN alone contains enough information to write a biography of yourself.
Anyway, the CL arguments are those made by the banks. I personally wouldn't care one bit.