07-24-2008 04:47 PM
07-24-2008 05:41 PM
07-24-2008 06:32 PM - edited 07-24-2008 06:33 PM
for your visa signature card, i don't think the credit bureaus assume a limit for it for utilization purposes for 12 months.
so i think it either A. tanks your FICOs right away while your "credit line" is estimated and is set at a default of zero (which may be why people are so wary of the world MC/visa signature cards) or B. it just doesn't do anything for 12 months and acts as a zero in your overall util but doesn't count against you for using 100% of your available credit on a particular card (i think if any one of your cards is maxed out, it's definitely a ding for your FICOs).
this i really don't know and someone else should clarify.
this is slightly off-topic, but do you mind me asking what your FICOs are? I'm very interested in getting this particular card and I'm wondering how difficult it is to get (I'd like to apply once the fact I'm paying down my balances has reported).
yes. someone who knows more please clarify and or correct this post.
07-25-2008 05:57 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.