For the Final Time. BOFA World MC Reports the limit

[plasticguy]

It's the Visa Signature that doesn't. Here's proof:

Bank Of America
Status as of [?] Nov, 2008
Date opened [?] Feb, 2004
Date of last activity [?] Nov, 2008
Date of last payment [?] Nov, 2008
Date closed [?] Not Reported
Account number [?] XXXX
Loan type [?] Credit Card, Terms REV
Credit limit [?] $67,500

[haulingthescoreup]

Good to know, thanks.

Wonder why one does and not the other? And will Visa ever catch on??

[plasticguy]

The World card simply has the added feature of " A no Pre set Spending Limit" That's all it is. The Visa Signature is "A no pre set spending Limit Card". Yes it may be true that Some World Cards ( Like my Chase Freedom World) that does not report ,but I guarantee you, BOFA does. I closed & moved the limit from my Visa Signature and consolidated it with the World Card & Merrill Lynch because the Visa didn't report, which is why the limit is high

Here's Experian

BANK OF AMERICA

Address:
POB 17054
WILMINGTON, DE 19884
(800) 421-2110 Account Number:
.


Address Identification Number:


Status:
Open/Never late.


Date Opened:
02/2004
Date of Status:
12/2008
Reported Since:
03/2004
Last Reported Date:
12/2008


Type:
Revolving
Terms:
N/A
Monthly Payment:
$
Responsibility:
Individual


Credit Limit:
$67,500

[Anonymous]

---

@plasticguy wrote:
The World card simply has the added feature of " A no Pre set Spending Limit" That's all it is. The Visa Signature is "A no pre set spending Limit Card".

---

Hi plasticguy!

Could you possibly elaborate on this distinction? 

[plasticguy]

I 've given you proof . Here's what Fico was Reporting on the Signature Card

Bank Of America
Status as of [?] Oct, 2008
Date opened [?] Apr, 2003
Date of last activity [?] Oct, 2008
Date of last payment [?] Sep, 2008
Date closed [?] Not Reported
Account number [?] XXXX
Loan type [?] Credit Card, Terms Open Account
Credit limit [?] Not Reported
Largest past balance [?] $16,070


CREDIT LIMIT NOT REPORTED

[Anonymous]

I think it depends on the customer service rep that codes it, because there is a way to do it correctly. So even if one coded correctly and one incorrectly in your case, we can't say it is the case for everyone.

[Anonymous]

I have a HSBC GM World Mastercard that does report the credit/spending limit.  My Chase Visa Signature only reports highest balance.

Message Edited by jedijennifer on 12-22-2008 11:45 AM

[Anonymous]

Okay I understand FICO score wise you want a high limit card to report the limit so your score can go up, but what is the downside to a card that does not report the limit?  Does it affect your score negatively? 

[Anonymous]

That is my question too. I was offered this card, and turned it down. I need to help my credit not hurt it.

[haulingthescoreup]

---

Pappy214 wrote:
Okay I understand FICO score wise you want a high limit card to report the limit so your score can go up, but what is the downside to a card that does not report the limit?  Does it affect your score negatively? 

---

What can happen >>>I know that it doesn't always happen; I'm merely answering the question!<<< is that since a credit limit isn't reported, the highest balance ever reported is used as the CL to calculate util. So if the highest balance you've ever had reported on that card is $600, and one month a $300 balance reports, you have 50% util on that card for that month. And if the highest ever reported in the past was $600, and this month you have $5000 report, it will calculate util on a $5000 balance on a $5000 "CL", thus giving you a 100% util for that month.

Again, this doesn't happen all the time for everyone, but for those to whom it does, it's not pretty.

The work-around is to run the card up extremely high during the billing cycle, to near its CL (think buying a car with your card), paying it off before the statement drops, hope that the CCC reports that temporary high balance (as it should), and have that one-time high balance serve as your pseudo-CL.