Is to good to have some of your credit limits hiden (MY SISTER NEEDS HELP)

[Anonymous]

Is to good to have some of your credit limits hiden like on signature cards or did i make a mistake converthing 4 of my sisters cards that have 85000 Aprox of limits but reported the limits as 0 b4. she also 2 cards that report there limits as 45000. now after the change its going to report 130000 in limits insted of 45000 her util was at 30 percent because of the limits not being report. but what im afraid of now is there going to say she has to mutch avaible credit and reduce and close card. shold i stik with my decsion or chang back to the way it was. i was thinking of changing just one card back insted of all 4 this one has a 40000 limit..... any advice would help . i should have asked befor i did the conversions but i got caught up in it. the cards that i have that didnt report the limits had 0 bal on them only the one with limits reporting had bal . credit score 720-747 She has me manager her credit she calls them and puts me on the phone. personaly im finaly all above 800. she is trying to get a higher score for mortgage as well. but i was woried i did her a disservice.

thanks alot

Message Edited by XQ28Libra on 12-24-2009 04:53 PM

[Creditaddict]

just because it's signature doesn't mean they won't reduce the credit line, so if they haven't done so so far changing from signature is not going to trigger it most likely.  The only difference is if you have signature and they reduce your CL and you had at one point charged up to your original CL, that would still be reported as high balance vs your reduced CL on a regular card reporting.

[Anonymous]

Non of them report there high bal and i was wondering if i should convert one back the 40,00 one cause banks may think she has too mutch credit now? i have a few days to fix b4 statment cause now she is going from 40,000 revoliving tl to 130,000 and im woried if banks think that she  may have to mutch credit limits at least if i drop the 40,000 back to signature it will on show 90,000 of trade lines open..... thanks.. im only woried they will reduce cause she went from 40,000 revolving credit to 130,000 and thats alot..... sorry for the repeat thanks for help . im just woried that her banks only see 40,000 of the credit limits and will now see it all and be like you have to mutch credit and wack the limits down that is why i was wondering if i should convert all or one back to signature.

happy holidays and merry christmas

Message Edited by XQ28Libra on 12-25-2009 12:04 AM

[Anonymous]

Bump

[Creditaddict]

why even worry about reporting CL to begin with, if she is getting 40k lines the signature cards were obviously not effecting her badly.  People only worry about Signature cards because of Util an hurting score, but if it's not effecting score then I like the signature cards better

[creditwherecreditisdue]

Your concern is valid. With all of the CL's reporting she could be viewed as having excess available credit for her income. I don't think you should have made this change in a shotgun manner to begin with. Now that it is done you need to let everything sort out and report, see what happens and then perhaps make a strategic change. Always remember the old adage: Measure Twice - Cut Once! Try to avoid making widespread changes like this prior to considering all the pro's and con's carefully.

[Anonymous]

Thank I just did it 2 days ago and i can change it to another card that is signature b4 the statment drops i have 4 days to undo it all and it wont report the change. i was just thinking of undoing one the 40 k limit. her util is 30 percent.  i always jump the gun. but i did ok with her credit her bankrupcy is 5 years old and she has all this credit. i just forgot when i was doing it that people are getting credit cut  cause they have too mutch credit limits. should i undo the one that is 40k today so it still stays hidden and the other 50k let report so her uti jumps down to the 10 percent. I can fix it today even :-) . i think i should do the 40k limit today so it not a big change. they will just have to mail another card out for a total of 3 with the same account #  1 to reopen 1 to change and then another change :-) haha.... I just want to know if you would change at least the 40k one back if you could in 4 days :-) the clock is ticking and im a freaking :-) i realy want to change the 40k one back but i want one of you credit masters to agree thats what i should do before i make more mistakes :-) happy hoolidays :-)

thanks alot

[Creditaddict]

sounds like a good plan changing just the 40 one, I forgot about the 30% util, getting that down would help

[creditwherecreditisdue]

The $40K card may not be included in the UTIL equation anyway due to the high CL. If that's the card with the highest CL, was not previously reporting a CL and can easily be changed back it would probably be a good idea to do so.

[Creditaddict]

what bank is this 40k and 50k credit line with after bk?