Pros and Cons of "Signature" and "World" cc's CL report issue.

[flyingmd]

Which ones do that (not report balance or CL and hence not count towards utilization?)

[Anonymous]

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@flyingmd wrote:

Which ones do that (not report balance or CL and hence not count towards utilization?)

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My Freedom World MC is reporting with Highest Balance.  But I don't think it's included in util calculations.

[Anonymous]

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@bobebob wrote:

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@fused wrote:

Pro - if the sig or world CC is not reporting a CL or a high balance, you won't take a hit for high util if the balance is high.

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With my BoA VIsa Signature, the card reports the balance against your Util with the highest reported balance counted as the CL for purposes of Util.

Essentially, if the balance is at or near the highest reported balance then the util for that card is 100%.

That's why some of us are frustrated by how some CCC's report the signature info.

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We are in same boat. Would you know if there is an option out to do a PC to a more better BoA card except AMEX since This was my first card I don't want to close this account. The best I am doing is I have reduced my utilization drastically on this card.

[Anonymous]

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@Anonymous wrote:

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@flyingmd wrote:

Which ones do that (not report balance or CL and hence not count towards utilization?)

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My Freedom World MC is reporting with Highest Balance.  But I don't think it's included in util calculations.

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Why do you think this, bunnyrabbit? (I'm asking because high balance reporting would be horrible credit util rate for me, and I'm considering getting the Sapphire.)

[AndySoCal]

The link below is study about no pre set spending limit accounts which is what Chase has converted your accounts to. My preference is not to any of these type of accounts although Chase has converted my account with them to this type of account.  To thank Chase for this "upgrade' I have stopped using their card.  The link is below

http://education.cardhub.com/no-preset-spending-limit-2010/

[Anonymous]

Thanks AndySoCal. I've seen that link many times. I'm a little wary of it because it's from 2010 and they even admit their info about Chase isn't official. Plus, I thought I've read that Sapphire's are "Flexible Spending Accounts" or perhaps "Revolving"... but not "Open" accounts like that study states?

[drkaje]

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@Walt_K wrote:

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@bobebob wrote:

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@fused wrote:

Pro - if the sig or world CC is not reporting a CL or a high balance, you won't take a hit for high util if the balance is high.

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With my BoA VIsa Signature, the card reports the balance against your Util with the highest reported balance counted as the CL for purposes of Util.

Essentially, if the balance is at or near the highest reported balance then the util for that card is 100%.

That's why some of us are frustrated by how some CCC's report the signature info.

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Bob, you may have already realized this, but what fused is pointing out is that there are some sig or world CCs that do not report a limit and also do not report a high balance.  If you have such a card, you have a tradeline that is invisible for utilization purposes. 

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Who still makes an invisible card?

[fused]

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@Anonymous wrote:

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@flyingmd wrote:

Which ones do that (not report balance or CL and hence not count towards utilization?)

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My Freedom World MC is reporting with Highest Balance.  But I don't think it's included in util calculations.

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It should be. Is the card reporting as revolving and not an "open" account?

[android01]

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@Anonymous wrote:

Thanks AndySoCal. I've seen that link many times. I'm a little wary of it because it's from 2010 and they even admit their info about Chase isn't official. Plus, I thought I've read that Sapphire's are "Flexible Spending Accounts" or perhaps "Revolving"... but not "Open" accounts like that study states?

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My Sapphire card shows as an "Open" account credit card on both EQ and TU, reporting the high balance.

[Anonymous]

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@fused wrote:

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@Anonymous wrote:

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@flyingmd wrote:

Which ones do that (not report balance or CL and hence not count towards utilization?)

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My Freedom World MC is reporting with Highest Balance.  But I don't think it's included in util calculations.

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It should be. Is the card reporting as revolving and not an "open" account?

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fused, it's report as 'OPEN" for Acct Type and "Credit Card" for Discription.