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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?
@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.
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.
@oracles wrote:
@enharu wrote:
Chase palladium and JP Morgan select are hidden trade linesThanks 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.
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.