Any one get BoA VISA signature to report the limit?

[Anonymous]

I was just wondering has anyone successfully got BoA to report credit limits to the CRAs on their VISA Signature cards?  I just got my BankAmericard Privileges card with a $9,000 limit, my highest limit.  Unfortunately it does not report.  I read a bunch of old posts, with people having mix results.  My CSP which is a Visa signature reports my limit, which I find strange.  You would think it would standardized, meaning either they report limits on Signature cards or they don't to ensure a proper/consistent FICO score calculation.

[09Lexie]

Each lender can report differently. Afaik, BoA reports this cc as Flexible Spending. Others can chime in, but I think you need to request a PC to the non-siggy for BoA

[armbenderc]

Yup my BofA Privileges reports as flexible spending account. No CL report.

[nyancat]

The fact it doesn't report the limit will NOT hurt your score since it simply won't be included, positive or negative, in utilization under the current FICO model.

[withaspark]

I've had three BofA visa signature cards...none have reported limit other than highest historical balance...and I've asked repeatedly...they have always said no or well convert it to a platinum plus visa which does report, so that's what I did and it reports now. You keep your acct age and number and everything only giving up the standard visa signature perks (ie, secondary car rental CDW). Nothing to it.

I don't understand why so many say it doesn't hurt utilization, it does. If the op has a 9k limit with 0 balance, and nonzero utilization, than your utilization is higher than if the limit had been reported.

[lg8302ch]

My 2 Siggies (cash and travel rewards) report to EX with CL of 5K  but are not reporting CL to TU and EQ. If you want BofA to report your CL then you  need to switch to Platinum Plus and you are all set. 

[nyancat]

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@withaspark wrote:
I've had three BofA visa signature cards...none have reported limit other than highest historical balance...and I've asked repeatedly...they have always said no or well convert it to a platinum plus visa which does report, so that's what I did and it reports now. You keep your acct age and number and everything only giving up the standard visa signature perks (ie, secondary car rental CDW). Nothing to it.

I don't understand why so many say it doesn't hurt utilization, it does. If the op has a 9k limit with 0 balance, and nonzero utilization, than your utilization is higher than if the limit had been reported.

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It doesn't HELP or HURT utilization. From a utilization point of view, it's the same as if the card didn't exist at all.

[YahComb]

I believe many people have had it affect utilization though.

[nyancat]

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@YahComb wrote:
I believe many people have had it affect utilization though.

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Depends on the scoring model. In the current model, it's simply not calculated. Positive or negative. In the old model is was percent of the high water mark (so let's say you have a $5000 limit but the most you've ever charged is $1000. A $500 balance would be 500/1000 = 50% utilization instead of 500/5000 = 10% utilization).

Currently, these accounts are NOT calculated in utilization. They don't benefit your utilization (by adding the limit to the denominator), but they don't hurt your utilization (by adding the balance to the numerator) either. It's as if you didn't even have the account from a utilization perspective.

[withaspark]

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@nyancat wrote:

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@YahComb wrote:
I believe many people have had it affect utilization though.

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Depends on the scoring model. In the current model, it's simply not calculated. Positive or negative. In the old model is was percent of the high water mark (so let's say you have a $5000 limit but the most you've ever charged is $1000. A $500 balance would be 500/1000 = 50% utilization instead of 500/5000 = 10% utilization).

Currently, these accounts are NOT calculated in utilization. They don't benefit your utilization (by adding the limit to the denominator), but they don't hurt your utilization (by adding the balance to the numerator) either. It's as if you didn't even have the account from a utilization perspective.

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It does not hurt utilization, semantically that's correct, but it does make your utilization higher than it would be if it did report in many cases. If your utilization on the NPSL card is greater than your overall utilization, you do not want it to report, otherwise you do.

An example:

Card 1: 5k limit, 1k balance

Card 2: 10k limit, 1k balance, 1k high balance, NPSL

If NPSL does report limit, utilization is 2k / 15k = 13.3%. If NPSL does not report limit and doesn't get counted against outstanding debt, than your utilization is 1k / 5k = 20%. Worst case scenario, someone uses an old scoring model that uses highest balance for NPSL, your utilization is 2k / 6k = 33.3%. So sure--in new models it "doesn't hurt your score"...but your score can be worse than if it did report. This is one where both statements are true. You're certainly correct, nyancat; but I doubt the poster is really concerned with if it's hurting, moreso how to optimize their score.