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Established Member
Posts: 47
Registered: ‎04-24-2011
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Visa Signature Question

Hi Everyone!

 

I got approved for the BoA AAA Membership Visa Signature today at my highest CL 5k!  I was wondering if anyone could explain how this is going to report?  I want the CSP and after I was declined I spoke with a Chase rep who said my only reason for denial was I did not have a comparable credit line.  I just want to make sure they will be able to see my limit when I decide to apply again.

 

Thanks!

Frequent Contributor
Posts: 351
Registered: ‎11-11-2012
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Re: Visa Signature Question


awall41 wrote:

Hi Everyone!

 

I got approved for the BoA AAA Membership Visa Signature today at my highest CL 5k!  I was wondering if anyone could explain how this is going to report?  I want the CSP and after I was declined I spoke with a Chase rep who said my only reason for denial was I did not have a comparable credit line.  I just want to make sure they will be able to see my limit when I decide to apply again.

 

Thanks

******************************************************

I am no expert but visa sig don't report credit limit to bureau's


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Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Visa Signature Question

Hi there! First of all; Congrats on your new card! There are a lot of different answers for this question. Back in the early days of the visa sig; the credit access line did not report. For most lenders; they have now started reporting the access line. My NFCU visa signature reports its full line. These usually report as a flexible spending account... on manual review; these types of accounts are viewed positively by lenders... Congrats again!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Established Contributor
Posts: 599
Registered: ‎03-10-2012
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Re: Visa Signature Question

As a boa visa signature, credit limit probably won't be reported. They're pretty much the only ones still not reporting yet(their world mastercards do though)
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Valued Member
Posts: 28
Registered: ‎06-11-2012
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Re: Visa Signature Question


newportguy wrote:

awall41 wrote:

Hi Everyone!

 

I got approved for the BoA AAA Membership Visa Signature today at my highest CL 5k!  I was wondering if anyone could explain how this is going to report?  I want the CSP and after I was declined I spoke with a Chase rep who said my only reason for denial was I did not have a comparable credit line.  I just want to make sure they will be able to see my limit when I decide to apply again.

 

Thanks

******************************************************

I am no expert but visa sig don't report credit limit to bureau's


This is not true. They do report your credit limit.

 

Valued Contributor
Posts: 2,789
Registered: ‎10-10-2012
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Re: Visa Signature Question

Congrats on your approval! I also got my first Visa Signature card recently. Exciting!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
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Frequent Contributor
Posts: 351
Registered: ‎11-11-2012
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Re: Visa Signature Question


thrillege wrote:

newportguy wrote:

awall41 wrote:

Hi Everyone!

 

I got approved for the BoA AAA Membership Visa Signature today at my highest CL 5k!  I was wondering if anyone could explain how this is going to report?  I want the CSP and after I was declined I spoke with a Chase rep who said my only reason for denial was I did not have a comparable credit line.  I just want to make sure they will be able to see my limit when I decide to apply again.

 

Thanks

******************************************************

I am no expert but visa sig don't report credit limit to bureau's


This is not true. They do report your credit limit.

 


Are you 100% sure?


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Visa Signature Question

The issue of whether it reports or not depends on the lender that issued the card.
Chase and NFCU definately report the limit. I don't think that BOA does yet.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Frequent Contributor
Posts: 351
Registered: ‎11-11-2012
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Re: Visa Signature Question


webhopper wrote:
The issue of whether it reports or not depends on the lender that issued the card.
Chase and NFCU definately report the limit. I don't think that BOA does yet.

That's my understanding too. BOA does not report CL...


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Blogger
Posts: 3,355
Registered: ‎10-19-2012
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Re: Visa Signature Question

I have spent countless hours researching this topic. Here's what I found:

 

Bank of America does not report the credit limit, but it does the high balance. Also, Bank of America reports the card as a revolving account, so for FICO scoring purposes, the high balance will be treated as the credit limit for the account. 

 

The consequence of that? You'd have to put heavy charges on the card in a month so that the balance reported is as high as it can be, if you're interested in raising your credit score. If your loan application is under manual review, you can simply explain that your card is a Visa Signature, which implies that the credit limit is at least 5,000. This will work in your favor. 

 

 

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