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Super Contributor
enharu
Posts: 7,002
Registered: ‎02-27-2013
0

Re: signature card that doesnt report balance

The palladium is easier to get in a way that all you need is 250k in some form of liquid assets in a CHASE and/or JPmorgan account and a private banker and you meet the requirements. That money can just be sitting in a checking/savings account.

The JPMorgan select specifically requires an account with JPMorgan now.

And it's not a guaranteed approval for either cards even after the requirements are met.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,578
Registered: ‎10-02-2012
0

Re: signature card that doesnt report balance

Whats the point of having a CC with a high CL but doesnt report to CB? Like BofA Signature cards, AMEX NPSL still gives you the benefit of becoming a member and having a SP if you apply for a new AMEX Card PLUS banks like it when they see AMEX. But BofA??  IDK maybe its the rewards?

$1,000$600 "Two credit cards is all I need"
EX FICO---, EQ FICO---, TU FICO 603, No Delinquencies of any Sort, Gardening Since 10-05-14
Super Contributor
enharu
Posts: 7,002
Registered: ‎02-27-2013
0

Re: signature card that doesnt report balance


BearsAndTurtlesRtheBest wrote:

Whats the point of having a CC with a high CL but doesnt report to CB? Like BofA Signature cards, AMEX NPSL still gives you the benefit of becoming a member and having a SP if you apply for a new AMEX Card PLUS banks like it when they see AMEX. But BofA??  IDK maybe its the rewards?


Banks like to see BofA and Amex as much as any other prime bank. The underwriter honestly could care less what other banks you bank with. The only thing they care is whether you're a customer with their bank, and if you meet certain criteria (such as having above a certain amt of money deposited), your chances of approval are slightly higher. 

 

People stick with BofA for many reasons. Maybe they have other banking products with them and as a result BofA gives them a high CL, low APR, or it might just be for the convenience. Certain BofA, or should I say FIA, credit card products seem to be pretty generous with the credit limits as well.

 

Not everyone care whether the CL is reported too, especially for those who rarely accrue any debt. The best solution to fix one's utilization is to pay down debt, instead of trying to stack useless irrelevant credit limits.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,578
Registered: ‎10-02-2012
0

Re: signature card that doesnt report balance

[ Edited ]

Hmmm true I would stick with a BofA if it gave me a high CL, low APR, or just for convenience like you mentioned. Thanks for clearing that up makes more sense.

$1,000$600 "Two credit cards is all I need"
EX FICO---, EQ FICO---, TU FICO 603, No Delinquencies of any Sort, Gardening Since 10-05-14
Regular Contributor
jlfce1
Posts: 142
Registered: ‎05-16-2013
0

Re: signature card that doesnt report balance


oracles wrote:

enharu wrote:
Chase palladium and JP Morgan select are hidden trade lines

Thanks but anything without an annual fee.


BofA Visa Signature BankAmericard.  Was just approved on Thursday.  I actually did not prefer this so when Credit Services advised that they do not report the CL, I immediately did a product change, which I was happy they could do with all the terms that I was approved for initially on the Visa Sig.

Amex BCE 24.5K | BofA Cash Rewards 15K | CSP MC 13.5K| Chase Freedom 7.5K | Discover IT 3K
Valued Contributor
jamesdwi
Posts: 1,899
Registered: ‎09-16-2011
0

Re: signature card that doesnt report balance

It gives you the flexibillity with your finances, you can buy a $175,000 sports car without worrying that your loan on your 2 million dollar vaction home in the hamptons closes in a couple weeks and they will surely pull your credit one more time before they close. Or you can carry a large balance for a few months without your other creditors becoming worried.

 

I loved my Tiger Preferred account, too bad tiger direct no longer accepts it, Could charge up all 4k of the 4k limit and it wouldn't affect my UTL unless I missed a minimum payment.

 

 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.

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