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@Crashem wrote:You sure it wasn't reporting limits? Many visa sig reporting limits now
Unfortunately, the card does not report a credit limit; it is being reported as a "Flexible Spending Account".
@Iincognito wrote:
@Crashem wrote:You sure it wasn't reporting limits? Many visa sig reporting limits now
Unfortunately, the card does not report a credit limit; it is being reported as a "Flexible Spending Account".
wow bofa is slow. My expectation is that it will report a limit sometime in near future as changes to bureaus to allowproper reporting of npsl cards is recent and issuers are just catching up.
reading around you'll see BOA is really the only major lender that's not onboard with CL reporting yet.
@Crashem wrote:
@Iincognito wrote:
@Crashem wrote:You sure it wasn't reporting limits? Many visa sig reporting limits now
Unfortunately, the card does not report a credit limit; it is being reported as a "Flexible Spending Account".
wow bofa is slow. My expectation is that it will report a limit sometime in near future as changes to bureaus to allowproper reporting of npsl cards is recent and issuers are just catching up.
Agree. If they start reporting credit lines on their Signature Cards, I will ask for another 'product change' a year from now.
What's the difference between a platinum and platinum plus?
This topic is ongoing. I guess this is a case by case, as my BofA Visa Sig, and World MasterCard report the limits, and they are both NPSL. Just like the previous poster before me, I don't care about the limit reporting either. There is a benefit of it not reporting for me.
@Cory wrote:This topic is ongoing. I guess this is a case by case, as my BofA Visa Sig, and World MasterCard report the limits, and they are both NPSL. Just like the previous poster before me, I don't care about the limit reporting either. There is a benefit of it not reporting for me.
Agreed, definitely a case-by-case situation. I would rather have the credit limit report, since I carry a balance on a couple of my cards. To have a balance on a signature card and have it count against my overall utilization without reporting a credit limit, does not make any sence for me. I would rather work with exhibit 2 instead of exhibit 1.
Exhibit 1
card 1 - credit limit = $5,000, balance = $0
card 2 - credit limit = $5,000, balance = $0
card 3 - credit limit = $5,000, balance = $2,500
card 4 - signature card credit limit = $5,000 (not reported), balance = $2,500
In this case, my reported credit limit is $15,000 and my balance is $5,000 (utilitzation is at 33%)
Exhibit 2
card 1 - credit limit = $5,000, balance = $0
card 2 - credit limit = $5,000, balance = $0
card 3 - credit limit = $5,000, balance = $2,500
card 4 - credit limit = $5,000, balance = $2,500
In this case, my reported credit limit is $20,000 and my balance is $5,000 (utilitzation is at 25%)
Bottom line, some people prefer signature/ world card for the additional benefits, others will never use those benefits and perhaps, as in my case, prefer having a reported limit.
@Iincognito wrote:
@Cory wrote:This topic is ongoing. I guess this is a case by case, as my BofA Visa Sig, and World MasterCard report the limits, and they are both NPSL. Just like the previous poster before me, I don't care about the limit reporting either. There is a benefit of it not reporting for me.
Agreed, definitely a case-by-case situation. I would rather have the credit limit report, since I carry a balance on a couple of my cards. To have a balance on a signature card and have it count against my overall utilization without reporting a credit limit, does not make any sence for me. I would rather work with exhibit 2 instead of exhibit 1.
Exhibit 1
card 1 - credit limit = $5,000, balance = $0
card 2 - credit limit = $5,000, balance = $0
card 3 - credit limit = $5,000, balance = $2,500
card 4 - signature card credit limit = $5,000 (not reported), balance = $2,500
In this case, my reported credit limit is $15,000 and my balance is $5,000 (utilitzation is at 33%)
Exhibit 2
card 1 - credit limit = $5,000, balance = $0
card 2 - credit limit = $5,000, balance = $0
card 3 - credit limit = $5,000, balance = $2,500
card 4 - credit limit = $5,000, balance = $2,500
In this case, my reported credit limit is $20,000 and my balance is $5,000 (utilitzation is at 25%)
Bottom line, some people prefer signature/ world card for the additional benefits, others will never use those benefits and perhaps, as in my case, prefer having a reported limit.
I thought cards that are NPSL or cards that dont report the limit don't get counted towards utilization
@gettnthere wrote:
I thought cards that are NPSL or cards that dont report the limit don't get counted towards utilization
My Amex Premier Rewards card does not have a preset limit (NPSL) and the balance does not count in my utilization calculation; My BofA Signature Card had a set $10,000.00 spending limit (flexible spending account), and the balance counted in my total utilization.