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@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?
HiLine,
I was also interested in having my BofA credit limit reported and not necessarily in the Visa Signature benefits -- successfully changing the card to a Platinum Mastercard (or in your case, a regular Visa card). Here is my thread from a few months back:
Hopefully it helps...
@Anonymous wrote:I'm looking at the BoA Americard Cash Rewards and noticed it was a Visa Signature credit card. A quick Google search showed threads from 2008 and 2010 saying Visa Signature credit cards do not report credit limits so a user's credit score will take a hit.
So, as the title states, are Visa Signature credit cards still not reporting credit limits?
All of the Signature cards in my profile report limits.
My Ritz Carlton Signature Visa reports as "Account Type" Revolving and under "Credit Limit" reports my limit. Under the description, it says Flexible Spending Credit Card. Reports the same onTransunion. It's been that way since I opened the card last October.
Here is a good research study of this subject. It is from 2010 but should still be relevant.
http://education.cardhub.com/no-preset-spending-limit-2010/
My US Bank Cash+ card reports my credit line.
I have the Citi Hilton HHonors Signature Visa card and it reports balance as well as total credit limit ($9,500). I also have the BMW Signature Visa card and it reports both balance and credit limit.
@Iincognito wrote:
@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?
HiLine,
I was also interested in having my BofA credit limit reported and not necessarily in the Visa Signature benefits -- successfully changing the card to a Platinum Mastercard (or in your case, a regular Visa card). Here is my thread from a few months back:
Hopefully it helps...
Hi lincognito,
Thanks for that helpful thread. It's great to hear of a success story! I might switch to Platinum Mastercard like you did, or I might end up applying for the Mastercard version, shifting part of the credit limit from the Visa Signature to the Mastercard. This way I can benefit from both the extra perks of the Signature and the reported credit limit of the Mastercard. What do you think of the latter strategy?
My Cabela's signature Visa came a couple months ago, it replaced my regular Cabela's Visa that I've had for a few years now. The new card said Signature on it with all the accompanying paperwork. It still reports the CL, same as it did before. Funny thing is, my statements online say I am $xxx away from achieving Signature status. Go figure.
The signature cards that still do not report limits are those from Bank of America.
Most all other lenders now report limits on signatures.
@OwNt wrote:The signature cards that still do not report limits are those from Bank of America.
Most all other lenders now report limits on signatures.
We need to file a complaint...