topic Re: Nordstrom Signature Card Question ?????? in Credit Cards

Nordstrom Signature Card Question ??????

NEEDCREDITADVISE — Thu, 12 Feb 2009 08:46:35 GMT

I was recently sent a Nordie Sig and the friendly Rep Explained to me that on my credit report it wouldn't show a credit limit, How would this effect my credit? Is this a GOOD THING or What?

Re: Nordstrom Signature Card Question ??????

Red1Blue — Thu, 12 Feb 2009 15:13:46 GMT

Signature cards are not a good idea as they do not report the Credit Limit. Scores are calculated by the credit limit and outstanding balance. In this case as soon as the card is used it would look like 100% maxed out and it would hurt the scores. You have two options. Ask them to change it to a card which reports the CL. Or Charge max you can and pay it off before the statment cuts that way your balance does not show on the card.

Re: Nordstrom Signature Card Question ??????

Anonymous — Thu, 12 Feb 2009 15:19:18 GMT

@Red1Blue wrote:
Signature cards are not a good idea as they do not report the Credit Limit.

True for many, including the Nordstrom, but not true as a general statement. There are several banks that report limits on a Signature card.

Re: Nordstrom Signature Card Question ??????

Red1Blue — Thu, 12 Feb 2009 15:29:05 GMT

Any signature card holder or world master card holder should check with their creditor to see if they report CL or not. General conception is majority do not report.

Re: Nordstrom Signature Card Question ??????

Anonymous — Thu, 12 Feb 2009 15:33:50 GMT

Yes, it would probably be easier to make a list of those signature card issuers that report limits, like Wells Fargo or US Bank. Any others?

Re: Nordstrom Signature Card Question ??????

Creditaddict — Thu, 12 Feb 2009 18:37:01 GMT

I'm almost positive Nordstrom Reports there credit line on signature cards. like 98% sure!

Re: Nordstrom Signature Card Question ??????

manyquestions — Thu, 12 Feb 2009 21:10:42 GMT

@Creditaddict wrote:
I'm almost positive Nordstrom Reports there credit line on signature cards. like 98% sure!

It reports high balance for me, not credit limit. For credit limit it says NA