cancel
Showing results for 
Search instead for 
Did you mean: 

Recently approved for two Visa Signature cards - how to optimize for best FICO score

tag
Alcibiades
Contributor

Recently approved for two Visa Signature cards - how to optimize for best FICO score

Last week, I decided to do a mini app-o-rama given I don't need anything like a car loan or to move apartments in the next six months or so. This time, I focused on travel rwards cards. I was approved for the Alaska Airlines Visa Signature from Bank of America with a $10,000 CL and the United Airlines Miles Plus Explorer Visa Signature from Chase with an $8,000 CL. A few questions

 

1) Do Bank of America and Chase report Visa Signature credit lines differently? From what I understand, Bank of America reports revolving balance but not a credit line of any sort while Chase might report your highest total balance as a credit line with your current balance in utilization.

 

2) I use an Amex for my normal monthly expenses and PIF. Should I switch to these cards for a couple of months to get balances high? Is it worth it to accumulate a balance for a few months on these cards, then pay them off?

Message 1 of 4
3 REPLIES 3
wmarat
Valued Contributor

Re: Recently approved for two Visa Signature cards - how to optimize for best FICO score


@Alcibiades wrote:

Last week, I decided to do a mini app-o-rama given I don't need anything like a car loan or to move apartments in the next six months or so. This time, I focused on travel rwards cards. I was approved for the Alaska Airlines Visa Signature from Bank of America with a $10,000 CL and the United Airlines Miles Plus Explorer Visa Signature from Chase with an $8,000 CL. A few questions

 

1) Do Bank of America and Chase report Visa Signature credit lines differently? From what I understand, Bank of America reports revolving balance but not a credit line of any sort while Chase might report your highest total balance as a credit line with your current balance in utilization. As far as I know, neither BOA nor Chase report CL on signature cards.

 

2) I use an Amex for my normal monthly expenses and PIF. Should I switch to these cards for a couple of months to get balances high? Is it worth it to accumulate a balance for a few months on these cards, then pay them off? PIF is the best and cheapest way to manage credit cards.


 

IN VINO VERITAS.
Message 2 of 4
anderl
Frequent Contributor

Re: Recently approved for two Visa Signature cards - how to optimize for best FICO score

+1000

Amex Platinum Charge(NPSL); Starwood Amex Preferred CC(20K CL); Diners Club ELITE MC(20K);Diners Club Premier MC(20K,could've sworn the rep said 25k, oh well lol);Delta Amex Reserve CC(21K CL); Amex PRG Charge(NPSL); United Presidential Plus Chase World Elite MC (15K CL); AARP Chase Visa Signature(35K CL); NFCU Visa Platinum(20K CL) NFCU LOC(15K); NFCU Go Rewards MC(17.5K); Disover IT 7.8K;
First Tech Federal Visa Platinum(15K CL); Simmons First Visa Platinum(9K CL); Wells Fargo Visa Platinum(7.5K CL); CitiBank Sears MC(6K CL); JCPenney Card(7.5K CL); Lowes(2.5K CL);Barclays Mile & More Lufthansa 12.5K.
Message 3 of 4
minimock
Frequent Contributor

Re: Recently approved for two Visa Signature cards - how to optimize for best FICO score

I have both of those cards, and they dont report the limit.

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.