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signature card that doesnt report balance

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enharu
Super Contributor

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).
Message 21 of 26
BearsAndTurtlesRtheBest
Senior Contributor

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?

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 22 of 26
enharu
Super Contributor

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).
Message 23 of 26
BearsAndTurtlesRtheBest
Senior Contributor

Re: signature card that doesnt report balance

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.

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 24 of 26
jlfce1
Regular Contributor

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
Message 25 of 26
jamesdwi
Valued Contributor

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 & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 26 of 26
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