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demisemiquaver
Posts: 2
Registered: ‎08-30-2010

World Mastercard/Visa Signature NPSL cards

First time posting here, although I've been lurking for a while. I have three credit cards: a Chase Freedom Visa Signature, a Capital One Venture One World Mastercard, and now Citibank has sent me a letter saying they are converting my Diamond Preferred Rewards to a World Mastercard as well. My question is, what is going to happen to my utilization when all 3 cards are World/Signature cards? I know for sure my Chase does not report a limit, but I don't know about the other two. Even though my actual combined limit is 25K, am I stuck with the high balances on my cards, which is closer to 5K? I pay in full, but I still rack up ~1-2K within a billing cycle. Do I now need to start paying off the balance before the cycle closes in order to avoid a high utilization ratio? I've read through nearly all of the threads on CL reporting on NPSL credit cards, but haven't run into any discussing what happens when someone has all NPSL cards. I am reluctant to convert them back to regular Mastercard/Visas, because I do travel a lot and I like the benefits. There seems to be some debate on whether or not the credit bureaus read NPSL cards differently from regular cards. I would think that having all NPSL cards for revolving credit would indicate responsibility with credit, but now I'm not so sure.
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: World Mastercard/Visa Signature NPSL cards

Established Contributor
my-own-fico
Posts: 1,032
Registered: ‎01-05-2010

Re: World Mastercard/Visa Signature NPSL cards

 


demisemiquaver wrote:
I've read through nearly all of the threads on CL reporting on NPSL credit cards, but haven't run into any discussing what happens when someone has all NPSL cards.

 

DW and I used to have all NPSL cards. One joint NPSL card! Our available balance was subsequently always minus that of our statement balance. :smileysad:  (For EQ and EX; not for TU98, which uses the high balance in lieu of the credit limit. And our card did/does report that.)

 

All you have to do is 1) zero your NPSL cards before the statement as you mention, and 2) get one card that reports its credit limit and keep that at say 1%.  (I got an Amex card which reports its credit limit. DW was AU on that from day one. This has worked well for us.)

 

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Established Member
DD60
Posts: 21
Registered: ‎03-26-2010

Re: World Mastercard/Visa Signature NPSL cards

I have six cards, three NPSLs and three that do report a limit.  I have finally reached the point where I can pay off the NPSLs a couple of days before they close each month, so that my statements have less than a hundred dollars or so on them, and I keep the other cards at zero balance.  I hope to see some progress in my FICO score by the end of the year.  I can't tell if it is working yet, because I used one of the cards that reports a limit last month just to let the bank know it was still active and I wound up taking a big hit in my FICO score for using a card that had been dormant for three months.  When I check my credit usage against my credit reports I find that the CBs treat the NPSL cards as having a zero limit.  My usage is the total of all the cards, but the cl does not include the NPSLs.  I would suggest opening an account or two that do report a limit. 


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FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007

Re: World Mastercard/Visa Signature NPSL cards

I can see more lenders issuing World cards as they charge merchants higher fees... just another way to earn more money.

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Epic Contributor
haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: World Mastercard/Visa Signature NPSL cards

 


FaircreditguyFL wrote:

I can see more lenders issuing World cards as they charge merchants higher fees... just another way to earn more money.


 

+1

 

This has to be it. CCC's have been pushing Worlds (and Signatures) for two years now, even though they know the reporting issues. They used to "offer" them, like it was something wonderful. Now they just say Shazam, you have a World or Siggy!

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