topic Re: Visa Signature Questions in Credit Cards

Visa Signature Questions

EaglesFan2006 — Wed, 30 Oct 2013 12:55:22 GMT

I have a couple of questions about Visa Signature cards?

1) How does the "no preset spending limit" thing work since the card has a listed limit?

2) Do banks report that limit to the CRBs?

3) To enjoy the bulk of benefits that the card offers, do you have to book most things through the Visa Signature website?

Re: Visa Signature Questions

takeshi74 — Wed, 30 Oct 2013 13:29:40 GMT

Some report limits or high balance, some do not. IIRC, NPSL allows one to exceed the limit to a point but the excess must be paid in full by due date. I.e. only the limit can be revolved.

Signature benefits from Visa generally don't require going through the Signature site but you'd have to read the terms to verify.

Some other recent threads:

https://www.google.com/search?q=signature+no+preset+spending+limit+site:ficoforums.myfico.com&safe=active&rlz=1C1CHKZ_enUS437US437#q=signature+no+preset+spending+limit+site:ficoforums.myfico.com&safe=active&tbs=qdr:y

Re: Visa Signature Questions

EaglesFan2006 — Wed, 30 Oct 2013 13:29:58 GMT

@takeshi74 wrote:
Some report limits or high balance, some do not. IIRC, NPSL allows one to exceed the limit to a point but the excess must be paid in full by due date. I.e. only the limit can be revolved.

Signature benefits from Visa generally don't require going through the Signature site but you'd have to read the terms to verify.

That makes sense.

Do you know if Chase reports the limit?

Re: Visa Signature Questions

eddie84 — Wed, 30 Oct 2013 13:41:13 GMT

@EaglesFan2006 wrote:

Do you know if Chase reports the limit?

Yes, they do.

Re: Visa Signature Questions

Luscher — Wed, 30 Oct 2013 17:29:45 GMT

All chase NPSL cards report limits

Re: Visa Signature Questions

09Lexie — Wed, 30 Oct 2013 17:37:41 GMT

^^^^ also, they are listed as flexible spending accounts.

Re: Visa Signature Questions

EaglesFan2006 — Wed, 30 Oct 2013 18:17:18 GMT

@09Lexie wrote:
^^^^ also, they are listed as flexible spending accounts.

What exactly does that mean? I never heard of that outside of work where they offer those as a health benefit....

I'm still kind of confused on how the NPSL works anyway, but it's fine...I don't plan on ever nearing the limit anyway.

Re: Visa Signature Questions

09Lexie — Wed, 30 Oct 2013 18:32:25 GMT

NPSL or flexible spending for Signature cards means that charges 'may' be approved which exceed the issued CL. However, any amount charged over the CL plus the normal payment is required to be paid during the normal billing period.

For instance, you have tickets that cost $7500 and your CL is $5000. Chase may allow the additional $2500 to be charged but it plus your normal min pyt is required to be paid with your next billing cycle.

Unlike Amex charge cards, if the CL is listed the reported balance will effect your util.

Re: Visa Signature Questions

EaglesFan2006 — Wed, 30 Oct 2013 18:34:45 GMT

@09Lexie wrote:
NPSL or flexible spending for Signature cards means that charges 'may' be approved which exceed the issued CL. However, any amount charged over the CL plus the normal payment is required to be paid during the normal billing period.

For instance, you have tickets that cost $7500 and your CL is $5000. Chase may allow the additional $2500 to be charged but it plus your normal min pyt is required to be paid with your next billing cycle.

Unlike Amex charge cards, if the CL is listed the reported balance will effect your util.

Gotcha...So does the listing of of it as an FSA have any impact on your overal credit profile?

Re: Visa Signature Questions

09Lexie — Wed, 30 Oct 2013 18:47:00 GMT

None whatsoever. I think I noticed it on my TU report , I'll have to check the others to see if it reports the same.