topic Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits? in Credit Cards

Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Sat, 24 Dec 2011 05:19:29 GMT

I'm looking at the BoA Americard Cash Rewards and noticed it was a Visa Signature credit card. A quick Google search showed threads from 2008 and 2010 saying Visa Signature credit cards do not report credit limits so a user's credit score will take a hit.

So, as the title states, are Visa Signature credit cards still not reporting credit limits?

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Watchmann — Sat, 24 Dec 2011 05:45:25 GMT

I have a Lexus Visa Signature Card issued by Lexus Financial Savings Bank and it reports as a revolving account and reports the credit limit ($25,300), which is included in my overall Credit Limit available for FICO scoring purposes. I think this card is out of the ordinary for Visa Signature Cards.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

MS00000000 — Sat, 24 Dec 2011 05:21:39 GMT

@Anonymous wrote:
I'm looking at the BoA Americard Cash Rewards and noticed it was a Visa Signature credit card. A quick Google search showed threads from 2008 and 2010 saying visa Signature credit cards do not report credit limits so a user's credit score will take a hit.

So, as the title states, are Visa Signature credit cards still not reporting credit limits?

I have the BofA Cash Rewards Visa Signature and it does report, but not the "limit." It reports the high balance. I think it shows as a flexible spending line. I have a Chase Visa Signature card that does not report at all, with or without a limit. YMMV

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Sat, 24 Dec 2011 05:37:58 GMT

So when the BoA Cash Rewards Visa Signature credit card reports your high balance (or whatever you charged and paid off), does it still affect your credit score since they don't take that amount in relation with your credit limit (since it's not reported)?

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Creditaddict — Sat, 24 Dec 2011 05:51:54 GMT

USBank and Nordstrom are the only exception I can think of right now that reports a credit line not high balance on the signature cards.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Sat, 24 Dec 2011 06:00:22 GMT

What's the difference between those two on a credit report (credit line vs. high balance)?

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

redwalker2929 — Sat, 24 Dec 2011 08:05:20 GMT

BoA reports high limit. If utilization is of concern, I recommend charging it up and allowing it to report the balance. Make a payment immediately afterward to avoid interest.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

anderl — Sat, 24 Dec 2011 07:02:29 GMT

I have a Chase Visa Signature that just ,as of this month, began reporting the CL. Not sure why ,but it sure helps in my utilization since it added an xtra 35k in CL. It does report as Flexible Spending and reports the CL wheras before it only reported a High Balance(which didn't figure into my utilization at all); also my Chase World Elite MasterCard has begun to report the same way.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

MS00000000 — Sat, 24 Dec 2011 07:11:40 GMT

@Anonymous wrote:
So when the BoA Cash Rewards Visa Signature credit card reports your high balance (or whatever you charged and paid off), does it still affect your credit score since they don't take that amount in relation with your credit limit (since it's not reported)?

It looks to me like the high balance is being counted as the limit and is affecting the score. The current balance is counted in my overall debt in my reports.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Sat, 24 Dec 2011 08:05:25 GMT

@redwalker2929 wrote:
BoA has started reporting credit limits on signature and world cards as of Nov 18 2011.

Where did you hear this from?

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Sat, 24 Dec 2011 08:34:08 GMT

Chase has begun reporting limits on all NPSL cards. The limit on my Chase Sapphire Preferred updated last month. Nice to have $45,000 in additional credit showing.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Lel — Sat, 24 Dec 2011 09:04:50 GMT

@anderl wrote:
I have a Chase Visa Signature that just ,as of this month, began reporting the CL. Not sure why ,but it sure helps in my utilization since it added an xtra 35k in CL. It does report as Flexible Spending and reports the CL wheras before it only reported a High Balance(which didn't figure into my utilization at all); also my Chase World Elite MasterCard has begun to report the same way.

I have two Chase Visa Signature cards - a Sapphire and a Mileage Plus Visa. Sometime in the last few months, the way they're reporting to EQ and TU has changed. Previously, on both reports these cards were reported as "open" accounts. The "open" designation is a common way that no-preset-spending-limit cards are reported. For EQ, the balance and credit limits of open accounts are not used to calculate utilization. For TU98, open accounts are still used in utilization, but in the absence of a reported CL, the high balance is used instead.

Currently, both my Signature cards no longer have the "open" designation. Under account type, it now reads "revolving", just like the rest of my CCs. In the description field, they are both described as "flexible spending credit card".

My Sapphire now reports a CL, but the Mileage Plus Visa still reports only the high past balance. I'm a bit surprised by the difference, since they're issued by the same company.

I haven't sat down to figure out whether the change from "open" to "revolving" has affected my utilization on EQ. Eventually I'll get around to figuring that out.

(More about NPSL cards can be found here: Is there no limit to the confusion surrounding NPSL cards?)

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

LTomBerry — Sat, 24 Dec 2011 16:59:36 GMT

B of A's Visa signature reports as a flexible spending CC and, as has been mentioned, reports your high balance instead of the limit. However, there are some scoring models that differentiate between balances with limits and flexible spending balances without reported limits. Looking at Credit Karma, my BofA balance shows up in a separate category from the others.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

redwalker2929 — Sat, 24 Dec 2011 17:44:21 GMT

Im sorry for the confusion. I had since gone back an edited my reply. I was confusing BoA with chase.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

RyVision — Sat, 24 Dec 2011 18:56:45 GMT

@redwalker2929 wrote:
Im sorry for the confusion. I had since gone back an edited my reply. I was confusing BoA with chase.

That's ok. The short lived moment of Holiday Hope with BoA and the Sig reporting the actual CL was kind of nice while it lasted

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

HiLine — Fri, 26 Oct 2012 21:24:05 GMT

I wish I had read threads like this before applying for my BoA Visa Signature card. Now the high limit on this card is pointless. There's no way I can charge to this card even half of the limit they gave me. Is there a way to downgrade the card to a regular Visa? Or in the future is there a way you can specifically request that they not give you a Signature when applying?

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Fri, 26 Oct 2012 21:30:14 GMT

@HiLine wrote:
I wish I had read threads like this before applying for my BoA Visa Signature card. Now the high limit on this card is pointless. There's no way I can charge to this card even half of the limit they gave me. Is there a way to downgrade the card to a regular Visa? Or in the future is there a way you can specifically request that they not give you a Signature when applying?

Why? The signature is way better than a platinum visa.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

HiLine — Fri, 26 Oct 2012 22:10:15 GMT

I was hoping to leverage the high credit limit of my Signature to apply for other prime cards. With this limit not being reported, my overall credit limit is mediocre.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

Anonymous — Fri, 26 Oct 2012 22:27:20 GMT

Okay so i get the Util arugment made by some and also the "hey bank look at my other CC limits, I deserve a hight CL from you because your competitors are giving me $xx,xxx CL"

I just happen to think that my CLs are nobodys business but my own. Not other banks, not potential employeers, not debt collectors. Nobody.

I would actually prefer all CCs to say "flexiable spending account" or not report my CLs at all.

Re: Do Visa Signature Credit Cards Still Refuse To Report Credit Limits?

HiLine — Fri, 26 Oct 2012 23:38:50 GMT

@Anonymous wrote:
Okay so i get the Util arugment made by some and also the "hey bank look at my other CC limits, I deserve a hight CL from you because your competitors are giving me $xx,xxx CL"

I just happen to think that my CLs are nobodys business but my own. Not other banks, not potential employeers, not debt collectors. Nobody.

I would actually prefer all CCs to say "flexiable spending account" or not report my CLs at all.

You have less absolutely confidential personal information than you would think. Your SSN alone contains enough information to write a biography of yourself.

Anyway, the CL arguments are those made by the banks. I personally wouldn't care one bit.