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U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!

Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


Crashem wrote:
Android, I hear us bank reports visa sig. correctly. Now would you be happy if the reported cl but without a limit showing?

I've heard that the limit reports on US Bank siggy cards, and If it continues to report, I'll be fine with that.  But if it doesn't, I'll be cool with that too as any balance reported wouldn't count toward utilization (except on the antique TU98 provided here at MyFico.)  It would be like an Amex charge card in that respect.  It would essentially be a hidden credit limit, though not a hidden account.

EQ Fico 8 - 846
TU Fico 8 - 848
EX Fico 8 - 836
Message 41 of 329
Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


android01 wrote:


 

My CL is $15,000.  The CSR said that it would NOT be a new account, BUT there would be a new account number that would REPLACE my existing account on my reports.  


I got a slightly different version than what you did.  I was told that my new Cash+ account would keep that same acct number, along with my low interest and 12K CL.  I guess I will find out in a couple of days.  As of todays log in to my account, nothing has changed.  I will let everyone know how mine turns out.

FICO 08
TU 839 11/11/17
EX 833 11/11/17
EQ 837 11/12/17
(NASA 30K) ( Amex 38.6k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 5/15
Message 42 of 329
Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


android01 wrote:

Crashem wrote:
Android, I hear us bank reports visa sig. correctly. Now would you be happy if the reported cl but without a limit showing?

I've heard that the limit reports on US Bank siggy cards, and If it continues to report, I'll be fine with that.  But if it doesn't, I'll be cool with that too as any balance reported wouldn't count toward utilization (except on the antique TU98 provided here at MyFico.)  It would be like an Amex charge card in that respect.  It would essentially be a hidden credit limit, though not a hidden account.


Android, you sure about the fact that it is treated like an Amex charge card when a limit isn't reported? I thought it was treated like Amex charge cards are treated under fico 98 but for all fico scoring models. Ie. the high balance is used as limit. I thought fico 4/8 models stopped taking balance into account for Amex charge cards because the terms show as 1 month. While a visa sig without limit reporting is reported as revolving, the fico4/8 use the high balance as limit as opposed to ignoring it.
               LIMITS IN CARD DESCRIPTIONS
Message 43 of 329
Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


Crashem wrote:

android01 wrote:

Crashem wrote:
Android, I hear us bank reports visa sig. correctly. Now would you be happy if the reported cl but without a limit showing?

I've heard that the limit reports on US Bank siggy cards, and If it continues to report, I'll be fine with that.  But if it doesn't, I'll be cool with that too as any balance reported wouldn't count toward utilization (except on the antique TU98 provided here at MyFico.)  It would be like an Amex charge card in that respect.  It would essentially be a hidden credit limit, though not a hidden account.


Android, you sure about the fact that it is treated like an Amex charge card when a limit isn't reported? I thought it was treated like Amex charge cards are treated under fico 98 but for all fico scoring models. Ie. the high balance is used as limit. I thought fico 4/8 models stopped taking balance into account for Amex charge cards because the terms show as 1 month. While a visa sig without limit reporting is reported as revolving, the fico4/8 use the high balance as limit as opposed to ignoring it.

I think you are right.  I just looked at my siggy cards on EQ and TU and they are listed as revolving but defined as "flexible spending credit card", and not "open".  I still don't think they are counted in utilization though (except for TU98).  Maybe I'll do a test this month and leave a balance on one of the siggies and see what happens.  I'm almost positive that when I let a high balance report a year or two ago on a BOA siggy card, it affected TU98 dramatically, but not EQ (Beacon 5).   

EQ Fico 8 - 846
TU Fico 8 - 848
EX Fico 8 - 836
Message 44 of 329
Moderator

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


Crashem wrote:

android01 wrote:

Crashem wrote:
Android, I hear us bank reports visa sig. correctly. Now would you be happy if the reported cl but without a limit showing?

I've heard that the limit reports on US Bank siggy cards, and If it continues to report, I'll be fine with that.  But if it doesn't, I'll be cool with that too as any balance reported wouldn't count toward utilization (except on the antique TU98 provided here at MyFico.)  It would be like an Amex charge card in that respect.  It would essentially be a hidden credit limit, though not a hidden account.


Android, you sure about the fact that it is treated like an Amex charge card when a limit isn't reported? I thought it was treated like Amex charge cards are treated under fico 98 but for all fico scoring models. Ie. the high balance is used as limit. I thought fico 4/8 models stopped taking balance into account for Amex charge cards because the terms show as 1 month. While a visa sig without limit reporting is reported as revolving, the fico4/8 use the high balance as limit as opposed to ignoring it.

This is correct AFAIK for even older versions of FICO too.  

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 45 of 329
Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


Revelate wrote:

Crashem wrote:

android01 wrote:

Crashem wrote:
Android, I hear us bank reports visa sig. correctly. Now would you be happy if the reported cl but without a limit showing?

I've heard that the limit reports on US Bank siggy cards, and If it continues to report, I'll be fine with that.  But if it doesn't, I'll be cool with that too as any balance reported wouldn't count toward utilization (except on the antique TU98 provided here at MyFico.)  It would be like an Amex charge card in that respect.  It would essentially be a hidden credit limit, though not a hidden account.


Android, you sure about the fact that it is treated like an Amex charge card when a limit isn't reported? I thought it was treated like Amex charge cards are treated under fico 98 but for all fico scoring models. Ie. the high balance is used as limit. I thought fico 4/8 models stopped taking balance into account for Amex charge cards because the terms show as 1 month. While a visa sig without limit reporting is reported as revolving, the fico4/8 use the high balance as limit as opposed to ignoring it.

This is correct AFAIK for even older versions of FICO too.  

 


Sorry I wasn't clear.  Yes for all versions of FICO in use.

 

Android, if you look at an AMEX charge card, it will show terms: 1 month.  I think this is the field that FICO 4/8 use to determine if they should use the balance in util % calculations.

               LIMITS IN CARD DESCRIPTIONS
Message 46 of 329
Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!

Ron - have you heard anything back from them yet?

Ray

** Every Card has a Job, and Every Card does its Job **
Message 47 of 329
Super Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!

Thanks for your concern. I haven't heard anything from them yet. I checked on the internet and no one has gotten the instant decison. Do you want to apply for the card?

 

 

Ron.

Message 48 of 329
Valued Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!

Maybe - I am waiting for USAA to report sero balance. Then I just might. Kind of waiting to see what happens with you first...

Ray

** Every Card has a Job, and Every Card does its Job **
Message 49 of 329
Super Contributor

Re: U.S. Bank Cash+ Visa Signature(r) Card: $50 Cash Bonus via Facebook!!!!


RockinRay wrote:

Maybe - I am waiting for USAA to report sero balance. Then I just might. Kind of waiting to see what happens with you first...


Ok. I heard they're very conservative.  Have you joined Firstmark CU?

 

 

Ron.

Message 50 of 329