04-05-2009 07:39 AM
04-05-2009 08:02 AM
04-05-2009 10:46 AM
I appreciate your advice. My Visa Signature has a limit of $5000. The minium limit for a Visa Signature. I use it for virtually everything I buy and pay it off when the bill arrives. My other major card is a Mastercard with a $9000 limit. However, I don't use it that much since there are no rewards with it.
As I said, I got the Visa Signature in January. It, however, is causing me a problem because it has no preset spending limit causing only my high balance to be reported which had been about $600. I spoke to B of A a week ago and they told me they will report the limit as $5000 but it will take up to thirty days. I hope they follow through; the artificial increase of my utilization ratio has really dinged my score. I put $2000 on the card this month, so if nothing else hopefully they will report that has my high balance.
04-05-2009 10:50 AM - edited 04-05-2009 10:51 AM
I am also not spending much outside the necessary. Of course, even in the best of times I'm usually fairly conservative in my spending. I don't put my utility bills on my card. Just groceries, gas and any other shopping I do. I was able to boost this month's spending on the card due to some atypical expenses.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO