Reply
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Question on Charge /Visa Signature Cards


angelclaudio wrote:

But isn't he saying with AMEX you can do the same with a noncredit reporting VISA Sig, which is to create a high balance once or twice so that it would be considered as a limit?


basically for almost all fico scoring Amex charge card balance is ignored for util calculations.  However, with old fico scoring fico98 which hardly anyone uses, they treat the amex charge card in same was visa sig without limit is treated.  So ifyou are paranoid, you can do the same thing and let high balance report just in case.  As FYI, I believe Amex reported my high balance at any point as my high balance.  So even thou statement balance was only 6k, I think it reported 30ishk as my high balance as I had 30ishk on my Amex at some point.

               LIMITS IN CARD DESCRIPTIONS
Regular Contributor
ACsteel
Posts: 237
Registered: ‎08-19-2012
0

Re: Question on Charge /Visa Signature Cards

@Crashem thanks for that info much appreciated, I'm not paranoid so I don't think I will be doing that, I'm actually paranoid/uncomfortable about not PIF before statment cuts and I rather have a 0 balance every cycle.

 

I do not have any siggys nor did I want one, I was just wondering for my AMEX charge card. I think for the future though I should get two more revolvers to increase my aggregate credit limit, as I only have atm that factors in, one Major credit card revolver. I also have one department store revolver, which doesn't get added to the aggregate credit limit even though it's credit limit shows on my credit report.


Garden Member Since: 2014 - 4 - 1
Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Question on Charge /Visa Signature Cards

my NFCU flagship visa reports my credit limit of 10k and whatever the minimum payment is thats what it reports as my balance... This has only happened once since i PCd from the green CAsh back card. It could only be reporting because i PCed though so idk.

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Frequent Contributor
xiownthisplacex
Posts: 260
Registered: ‎08-29-2011
0

Re: Question on Charge /Visa Signature Cards


angelclaudio wrote:

@Crashem thanks for that info much appreciated, I'm not paranoid so I don't think I will be doing that, I'm actually paranoid/uncomfortable about not PIF before statment cuts and I rather have a 0 balance every cycle.

 

I do not have any siggys nor did I want one, I was just wondering for my AMEX charge card. I think for the future though I should get two more revolvers to increase my aggregate credit limit, as I only have atm that factors in, one Major credit card revolver. I also have one department store revolver, which doesn't get added to the aggregate credit limit even though it's credit limit shows on my credit report.


I don't see why you should be, it won't affect you in any way. My AMEX charge card is the only one (besides JPM Select) that I won't care what it reports, because nothing counts! :smileyhappy:


Starting Score Myfico EQ: 676 08/11/2011
Current Score: Amazon EQ Pull: 781 Walmart TU08: 782 AMEX EX Pull: 745 08/03/2014 Goal Score: 780+
Hover over image to see limits

NPSL$1,000$18,000$9,500$5,000$5,000$5,500$8,000$5,300$9,000$5,500$4,200$1,900$4,000$1,600
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Question on Charge /Visa Signature Cards

Department store revolver should figure in.  Although some lenders tend to ignore store cards (chase) in their internal formulas.  If i was you, I would get one Amex revolver given backdating, their great cli policy, great existing Amex customer app policy, and your current relationship with them.  After 61 day 3x cli from Amex, I would recommend one other card once the new Amex cl reports.  Maybe a nice cash back card.  Priceline at 2% cash back.   Us bank cash+ card with 5/5/2/1% cash back.  Maybe both :smileyhappy:

               LIMITS IN CARD DESCRIPTIONS
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Question on Charge /Visa Signature Cards

Btw don't worry about visa sig cards. Almost all of them reporting limit now.  Bofa being biggest exception.

               LIMITS IN CARD DESCRIPTIONS
Regular Contributor
ACsteel
Posts: 237
Registered: ‎08-19-2012
0

Re: Question on Charge /Visa Signature Cards

@Crashem thank for the great advice and I will def. try to get the BCP next summer, last month I tried but I was told I was an AMEX customer for too short a time (just got my AMEX charge card July 1, so I will be gardening until June 2013 where I will reattempt for it.


Garden Member Since: 2014 - 4 - 1
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Question on Charge /Visa Signature Cards


angelclaudio wrote:

@Crashem thank for the great advice and I will def. try to get the BCP next summer, last month I tried but I was told I was an AMEX customer for too short a time (just got my AMEX charge card July 1, so I will be gardening until June 2013 where I will reattempt for it.


oh didn't know you just got Amex.  In that case, app in jan 2013 for max backdating.  Remember rejection from Amex only results in soft pull and no negative on credit.  Don't recommend applying every month but might as well try jan.

               LIMITS IN CARD DESCRIPTIONS

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
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}