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Which cash back CC report credit lines to credit bureaus?

Valued Contributor

Re: Which cash back CC report credit lines to credit bureaus?


seiyafan wrote:

I see, so suppose if Chase increases the limit to above 5k, would I be able to ask them to lower it to 5k?


If they increase the limit above 5k, it will continue to report, only at initial approval will over 5k often automatically be a Visa Signature.  The good thing is if you're below 5k, you start at platinum, and you can have platinum limits as high as the sky.  If they ever tell you they want to convert to a Visa Signature, I think with the new laws you're able to opt out.

 

I converted my BofA card to a signature, lost the limit reporting, and am strongly debating converting it back to a Platinum Plus, the benefits of Signature are few and far between if you don't spend a lot of money or travel a lot.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 11 of 14
Frequent Contributor

Re: Which cash back CC report credit lines to credit bureaus?


PHILYMIC wrote:

seiyafan wrote:

Chase Freedom does? I thought Visa Signature card has no preset spending limit. 


Chase Freedom is not necessarily a Visa Signature...It is only a Signature if the credit limit is 5,000 and up...Anything below 5,000 constitutes a regular Visa.

 

seiyafan wrote:

I see, so suppose if Chase increases the limit to above 5k, would I be able to ask them to lower it to 5k?



That's not precisely true.  Visa wants the credit limits(whether they report or not, there is a limit) of their signature product to be at $5,000 or above.

 

When I talked to BoA CSR he said that he could PC the Visa Signature over to a Platinum(which would report the CL correctly).  My CL still would have been 17.1k.

 

So if you had them lower the CL to <$5,000, they should have to do a PC to put you in a different card like the Platinum.  But you can do the PC without taking a hatchet to your CL (and potentially lower your credit score because Util drops).  If the NPSL bothers you that much, just ask for a PC to a Platinum or Platinum Plus.

 


tntexans72 wrote:
NPSL is great cause you don't have to worry about requesting a CLI.

 


You do if you want to be sure charges will go through for sure.  There is still a credit limit for my Visa Signature.  I can charge over that without penalty as long as I bring the balance under the CL when I pay the bill after the statement.

 

But exactly how much over the CL  I can charge is unknown.  When the charge goes through they make a snap judgment whether or not to approve it.  So you're rolling the dice.  This happens with AmEx Charge cards too but to a lesser extent.  I don't expect anyone to let me charge 100K NPSL or not.

 

There's always gong to be some line that they won't let you cross.  I'd much rather know what that limit is than play a guessing game.

 

So even if it's a NPSL card, it's still good to get a CLI to get your CL where you need it to be for what you use the card for.

bobebob || Nov: My FICO SW EQ(Upgraded Version) = 822 ||Sept: Walmart TU Fico=838Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Message 12 of 14
Valued Contributor

Re: Which cash back CC report credit lines to credit bureaus?

I hear the limit most World/Signature cards will let you go over is $500-$1,000 at the most.

 

IMO that doesn't seem like all that enticing of a feature, especially if you have $5k+ limits, you should be having plenty of breathing room anyway, or re-evaluate your spending.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 13 of 14
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Valued Contributor

Re: Which cash back CC report credit lines to credit bureaus?

If the Credit limt is over 5K and  the card is converted to NPSL the credit limit will be converted to credit access line. If you lower the credit access line to < 5K the ccredit limit will not start reporting again.  Currently with Chase once it is NPSL account you cannot remove that feature. I have some experience with Chase and NPSL accounts I have one.  I have tried since 2010 to remove the NPSL no product change or anything else will change it.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 14 of 14