@longtimelurker wrote:
@BronzeTrader wrote:
@Gggmen wrote:
Now that i have upgraded my FU to the visa signature i am being told that my cl wont be reported to credit agencies and will report as a npsl or flexible spending limit. Now i know i have a hard limit which i never come close to but does anyone know if my credit limit not being reported is a positive or negative. Anybody with any experience can advise me on pros n cons. Thanks in advance for any feedback.
Chase FU 5k-Chase F 3k-Discover IT 3250- BofA 2k-Macys store card 3k.
No need for anymore cards. Garden and see where that takes me.This is new to me. When I upgraded it to Visa Signature, the CL stays the same and Chase just sent me new cards. Do not know Chase has flex spending limit. Maybe it is just me, not knowing much.
See my post above about reporting CL, but many VS (and WMC/WEMC) are flex spending, although some issuers are cutting back. All this means is that they MAY approve purchases that take you above your CL, and if so, at the next statement you have to pay the whole amount above the CL and any minimum payment on the rest. It's not a huge benefit although some will sometimes find it useful
This could be. But CL has never been an issue to me. If I ever do need CL with the Unlimited, I can move any of the $50K line I have from the CSR. Personally I prefer to have most of my CCs with a CL just above $10K. For my own security too. Some of the CC info can be hacked and leaked. You never know when this could happen.
Just to confirm for the FU explicitly:
EX:
Credit Limit $22,000
TU:
Credit Limit: Credit limit of $22,000 from 07/2016 to 12/2016
Haven't gotten a EQ base report since I moved unfortunately which includes the time period that I've had the FU, but a myFICO report shows the limit there too.
Yep, all my Chase cards report as flexible spending on EQ and TU, they all show limits. My BofA CashRewards also shows as flexible spending and my Prestige also, but not my Double Cash.
Gardening until September 2025
@BronzeTrader wrote:
@longtimelurker wrote:
@BronzeTrader wrote:
@Gggmen wrote:
Now that i have upgraded my FU to the visa signature i am being told that my cl wont be reported to credit agencies and will report as a npsl or flexible spending limit. Now i know i have a hard limit which i never come close to but does anyone know if my credit limit not being reported is a positive or negative. Anybody with any experience can advise me on pros n cons. Thanks in advance for any feedback.
Chase FU 5k-Chase F 3k-Discover IT 3250- BofA 2k-Macys store card 3k.
No need for anymore cards. Garden and see where that takes me.This is new to me. When I upgraded it to Visa Signature, the CL stays the same and Chase just sent me new cards. Do not know Chase has flex spending limit. Maybe it is just me, not knowing much.
See my post above about reporting CL, but many VS (and WMC/WEMC) are flex spending, although some issuers are cutting back. All this means is that they MAY approve purchases that take you above your CL, and if so, at the next statement you have to pay the whole amount above the CL and any minimum payment on the rest. It's not a huge benefit although some will sometimes find it useful
This could be. But CL has never been an issue to me. If I ever do need CL with the Unlimited, I can move any of the $50K line I have from the CSR. Personally I prefer to have most of my CCs with a CL just above $10K. For my own security too. Some of the CC info can be hacked and leaked. You never know when this could happen.
Not only "could be" but actually "is"! As should be clear, I don't think it's a great benefit, but there may be times when you need to use the card now in an emergency, without having to call Chase and get CLs moved around,
I'm not too worried about having larger lines on credit cards, at least currently it's not my responsibilty to pay fraudulent charges. Yes, it can take time, but I would be fighting the same way over $10K of charges as over $50K.
@Anonymous wrote:My personal experience, all revolving credit cards with flexible spending limit ALWAYS report a numeric limit on the CR. The only one that does not report are the CHARGE CARD by American Express. They show HIGH BALANCE in the report.
I am curious about the 2nd part of his question. Will it have a negative or positive impact on your report if there's no numeric value in a tradeline? How is it affecting your UTILIZATION ratio? I never let my Platinum charge cards report any amount when the statement cuts because I don't know how they factor in a credit card with no reporting limit. Will the high balance reporting on a charge card equates to the credit limit in flex / revolving acct? That would then be a nightmare if it will then mean 100% utilization. My AMEX Personal Platinum Card always shows the $435 amount which was the annual fee that reported with the 1st statement 7 months ago. At least the Business Plat never shows up on my credit report.
Under modern algorithms it's irrelevant, a revolver with a term = 1 month basically gets excluded from individual and aggregate utilization metrics historically and on EX currently. It's also changed on EQ/TU where the account is listed as type Open, again excluded.
FICO 98, explicitly Experian Risk Model v2 since that's still a major part of the credit universe, current balance / high balance = utilization... so let your Amex report a big number at least once would be my recommendation. This was the case on the NPSL tradelines that didn't report a limit either, but fortunately that's been dead and gone since 2012.
Personally I try to set high balance on everything: if I spent it, I show the world (marketing); however, high balance is mostly dead at least from a FICO scoring perspective.
@Anonymous wrote:My personal experience, all revolving credit cards with flexible spending limit ALWAYS report a numeric limit on the CR. The only one that does not report are the CHARGE CARD by American Express. They show HIGH BALANCE in the report.
I am curious about the 2nd part of his question. Will it have a negative or positive impact on your report if there's no numeric value in a tradeline? How is it affecting your UTILIZATION ratio? I never let my Platinum charge cards report any amount when the statement cuts because I don't know how they factor in a credit card with no reporting limit. Will the high balance reporting on a charge card equates to the credit limit in flex / revolving acct? That would then be a nightmare if it will then mean 100% utilization. My AMEX Personal Platinum Card always shows the $435 amount which was the annual fee that reported with the 1st statement 7 months ago. At least the Business Plat never shows up on my credit report.
I first wondered about this too when i got mine. from what i understand, charge cards aren't counted like regular cards. the balance carried on the charge card is added up in the "grand debt total" on your report but is approached more like a personal loan; however it is not factored into the utilization percentage used for the credit card segment. i tested this last year lol
July) All cards left at $0 and reflected on all reports, CC UTI was 0% -- total UTI was 19% (1 auto loan,1 personal loan)
Aug) Charged $8k to PRG and let it report, next EX/TU reports showed CC UTI was 0% -- total UTI was now 23.5% (only new debt reported was the PRG)
Sept) Paid PRG back to $0 and let it report, next EX/TU reports showed CC UTI was 0% -- total UTI was now 18% (full $8k + auto/pers loan payments) < EX +2pts, TU +3pts
It still hits your score, but almost in a watered down way. I cant prove my assessment is accurate, but from what i've learned and tried myself, the results were consistent.
