topic Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line? in Credit Cards

BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Sun, 04 May 2008 18:55:13 GMT

There's been a little controversy lately about whether or not Bank of America's no preset spending limit World MasterCards and Visa Signature cards report credit limits to the CRAs.

Let us know which card you have: The Bank of America World MasterCard, Visa Signature, or both.

Inform us about whether or not your card reports a credit line.

In addition, tell us a little about the history of your account: Was it originally a no preset spending limit card, or converted from a different account? Was your account always with BoA, or did the card have origins in another bank, such as MBNA?

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Sun, 04 May 2008 19:04:19 GMT

I don't have one, but figured I'd chime in anyway.

A CSR in the BOA Credit Department told me that the signature cards do NOT report CLs are they are no preset spending limit cards.

However, I don't deny the possibility that he could have been wrong.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

MidnightVoice — Sun, 04 May 2008 19:04:33 GMT

I asked about changing my Chase United Airmiles Visa to the equivalent Signature card (better benefits). They told me it WOULD NOT report a CL as it was a flexible spending card.

I did not change

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Sun, 04 May 2008 19:29:30 GMT

I have had it a BOA Visa Signature since 2006.

It does not report a credit limit.

I don't know if it was originally from MBNA or not. Any way to find out?

Message Edited by watchnerd on 05-04-2008 12:29 PM

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Sun, 04 May 2008 20:46:40 GMT

watchnerd wrote:
I have had it a BOA Visa Signature since 2006.

It does not report a credit limit.

I don't know if it was originally from MBNA or not. Any way to find out?

Message Edited by watchnerd on 05-04-2008 12:29 PM

I'm sorry for being unclear about this issue.

Did you originally apply for the card through Bank of America? Did you apply for your card through MBNA, and it was later changed to a BoA card after the BoA/MBNA merger?

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Sun, 04 May 2008 21:11:08 GMT

@Anonymous wrote:

@Anonymous wrote:
I have had it a BOA Visa Signature since 2006.

It does not report a credit limit.

I don't know if it was originally from MBNA or not. Any way to find out?

Message Edited by watchnerd on 05-04-2008 12:29 PM

I'm sorry for being unclear about this issue.

Did you originally apply for the card through Bank of America? Did you apply for your card through MBNA, and it was later changed to a BoA card after the BoA/MBNA merger?

I originally applied for the card via BOA. Whether that was a front-end for MBNA at the time, I don't know.

I got the card about one year after MBNA and BOA merged.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

nicemann — Sun, 04 May 2008 21:51:51 GMT

The BoA Worldpoints report CLs correct?

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

haulingthescoreup — Sun, 04 May 2008 22:52:06 GMT

Mine does, but it's not signature level. (Didn't have the squeaky clean report to get that!)

The Signature was a possible level, but I was "considered" for the regular one, which is fine.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Sun, 04 May 2008 23:54:51 GMT

@nicemann wrote:
The BoA Worldpoints report CLs correct?

Which WorldPoints card do you mean?

Many BOA cards have WorldPoints in their names:

Visa Platinum with WorldPoints
MasterCard Platinum Plus with WorldPoints
World MasterCard WorldPoints
Visa Signature with WorldPoints
etc.

WorldPoints is just the name of one of the BOA rewards points systems.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

nicemann — Mon, 05 May 2008 01:06:30 GMT

@Anonymous wrote:

@nicemann wrote:
The BoA Worldpoints report CLs correct?

Which WorldPoints card do you mean?

Many BOA cards have WorldPoints in their names:

Visa Platinum with WorldPoints
MasterCard Platinum Plus with WorldPoints
World MasterCard WorldPoints
Visa Signature with WorldPoints
etc.

WorldPoints is just the name of one of the BOA rewards points systems.

Sorry did not know that. So is the platinum harder to get then the signature? I wanted to get the Worldpoints wanted to make sure they report the CL.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Mon, 05 May 2008 04:08:46 GMT

I don't know which ones are harder to get, but the products map like this:

'Hard' limit:
MasterCard Platinum Plus with WorldPoints
Visa Platinum with WorldPoints

'Flexible' limit:
Visa Signature with WorldPoints
World MasterCard with WorldPoints

The WorldPoints designation doesn't have anything to do with whether it has a hard limit or a flexible limit.

And I believe, but have no hard evidence, that the flexible limit cards are a bit harder to get than the Platinums.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

haulingthescoreup — Mon, 05 May 2008 05:02:13 GMT

@Anonymous wrote:

....And I believe, but have no hard evidence, that the flexible limit cards are a bit harder to get than the Platinums.

That's what's on their pre-approval letters, where they say you're pre-approved for a Signature. Then you see the little letters that say if you don't meet the requirements for a Signature, you'll be considered for the Plat. And this was confirmed ever so gently by the CSR when I got my Plat. Or Plat Plus, I don't remember which it is.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Mon, 05 May 2008 21:14:35 GMT

Signature Visa and World MC are definitely harder to obtain and platinum means very little now days - it's more of a marketing ploy.

Signature cards actually have a pre-set exposure limit. If you go over the limit, you pay the overage + regular payment but you are not charged a overage fee.

Message Edited by FaircreditguyFL on 05-05-2008 02:14 PM

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Tue, 06 May 2008 19:20:22 GMT

I currently have a BofA Visa Signature card that has a CL of 10k but it doesn't report.

Account History:

I orginally got just the regular Visa from them 6 yrs ago w/ 2k limit. They increase it to 5k without asking. Then they asked to would I like to have the new Visa Signature, I accepted (same limit). After some time they increase to 8k. This is when I became interested in fico scores. It was reporting limit of 8k. I hit the online love button after sometime and it went to 10k and it no longer reports limit. It reports a high balance of 5231 with a 2k balance.

I called a week or so ago and converted to the American Express Accelerated Rewards... Interested to see if that will report the limit. She said it would take 2-3 weeks for me to receive my new card, but to continue using my current card in the meantime.

I will let you guys know when I get the new card. Not gonna pull the reports right away though, I will wait until July/August as I just pulled them in January & April.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Tue, 06 May 2008 20:51:01 GMT

FICOfanatic wrote:

I currently have a BofA Visa Signature card that has a CL of 10k but it doesn't report.

Account History:

I orginally got just the regular Visa from them 6 yrs ago w/ 2k limit. They increase it to 5k without asking. Then they asked to would I like to have the new Visa Signature, I accepted (same limit). After some time they increase to 8k. This is when I became interested in fico scores. It was reporting limit of 8k. I hit the online love button after sometime and it went to 10k and it no longer reports limit. It reports a high balance of 5231 with a 2k balance.

I called a week or so ago and converted to the American Express Accelerated Rewards... Interested to see if that will report the limit. She said it would take 2-3 weeks for me to receive my new card, but to continue using my current card in the meantime.

I will let you guys know when I get the new card. Not gonna pull the reports right away though, I will wait until July/August as I just pulled them in January & April.

After $10K, it stopped reporting. That's very interesting, FICOfanatic!!! Thank you for taking the time to share your card's history with us.

We'll look forward to hearing about your experiences with your new American Express Accelerated Rewards card!

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Tue, 06 May 2008 21:34:35 GMT

Does this actually increase your utillization, or is it factored in another way?

Is it listed as "other" on CR like AMEX?

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

haulingthescoreup — Tue, 06 May 2008 22:16:54 GMT

No, the risk is that it can easily hurt your util.

Instead of reporting your credit limit, these report your highest balance. So unless you once maxed out your card, your util is higher than it ought to be.

So for instance if you have a $3K balance on a $20K card, it should show 15% util ($3 / $20K.) But if the highest balance you've ever had on the card was $6K, it's going to show 50% (util $3K / $6K.)

So some people take a deep breath, do a cash w/d (whatever it's called) for almost the entire CL from their account and then pay it back ASAP. With luck, that will show as the highest one-time limit on the card, so your util should work. But it has mucho possibilities for disaster, so it needs to be well-planned.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Thu, 15 May 2008 19:02:47 GMT

Do any other forum members have one of Bank of America's no preset spending limit cards?

We'd love to hear from you!!!

Message Edited by psychic on 05-15-2008 12:02 PM

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

Anonymous — Tue, 17 Jun 2008 13:57:45 GMT

I just received my Visa Signature in the mail yesterday and i'm calling today to see if I can do either a product change, or combine the card with my BOA Amex. I'll update after I call.

After reading more about it in the Forum and seeing it report as "other account - flexible spending credit card" i've decided I don't want this card. I don't plan to max out the 5000 cl so it will always show high utilization i'm afraid.

Re: BoA World MasterCard and Visa Signature cardholders: Does your card report a credit line?

iDShaDoW — Fri, 25 Jul 2008 04:34:07 GMT

Received a letter from BofA stating that:

"Your account status was recently reviewed, and you are now eligible for a no-cost upgrade to the Bank of America World MasterCard credit card."

Also says that terms and conditions will remain unchanged from current account. Rewards balance will automatically carry forward to the new account and that:

"Upgrading to the World MasterCard credit card means you'll receive a new credit card that will identify you as a World MasterCard cardholder..."

Would be nice if anyone can tell me if I would be able to get CLI's from the $6.5k I have now to $10k+ eventually over time and have it report as such (I know people say the Visa Signatures don't really report limits; rather they report high balances). Is the World MasterCard the same?

Also, the letter and other piece of paper that came in the envelope doesn't have any fine print saying that if I'm not approved for the World card that I'd get a Platinum Plus or something like that. Though I'm wary to think that I'm guaranteed the World card unless the fact that they sent me a letter after reviewing my account pretty much means I will get the black World card?

On the side of the letter it has boxes that say
-Account Status: Eligible
-Action Pending: No-cost upgrade to World MasterCard credit card
-Customer Acceptance must be received by" August 31, 2008

Any help is greatly appreciated. Would be nice to know what other people on the board have experienced first-hand. I'll give BofA a call to see what else I can find although it'd be nice to have information from here before I do that. Thanks.

Message Edited by iDShaDoW on 07-24-2008 09:34 PM