Nordstrom Signature Card Question ??????

[NEEDCREDITADVISE]

I was recently sent a Nordie Sig and the friendly Rep Explained to me that on my credit report it wouldn't show a credit limit, How would this effect my credit? Is this a GOOD THING or What?

[Red1Blue]

Signature cards are not a good idea as they do not report the Credit Limit. Scores are calculated by the credit limit and outstanding balance. In this case as soon as the card is used it would look like 100% maxed out and it would hurt the scores. You have two options. Ask them to change it to a card which reports the CL. Or Charge max you can and pay it off before the statment cuts that way your balance does not show on the card.

[Anonymous]

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@Red1Blue wrote:

Signature cards are not a good idea as they do not report the Credit Limit.

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True for many, including the Nordstrom, but not true as a general statement. There are several banks that report limits on a Signature card.

[Red1Blue]

Any signature card holder or world master card holder should check with their creditor to see if they report CL or not. General conception is majority do not report.

[Anonymous]

Yes, it would probably be easier to make a list of those signature card issuers that report limits, like Wells Fargo or US Bank. Any others?

[Creditaddict]

I'm almost positive Nordstrom Reports there credit line on signature cards. like 98% sure!

[manyquestions]

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@Creditaddict wrote:
I'm almost positive Nordstrom Reports there credit line on signature cards. like 98% sure!

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It reports high balance for me, not credit limit.  For credit limit it says NA