Signature Card doesn't report credit line

[haulingthescoreup]

If OP's signature card is reporting in a way that makes it look as if he has 100% util, this is exactly what can happen to your score, especially if you have only one other card. EQ and EX have finally figured out what to do with HELOC, but TU treats them as revolving, so if you pull your full LOC, it looks like 100% on a CC, and *flush* goes your TU score.

At least until they get around to changing their scoring formula.

edit: Oops, meant to say that this is similar to the scoring problem for HELOC's.

Message Edited by haulingthescoreup on 11-19-2007 05:40 PM

[Dawn]

Until the system is changed and everyone gets on board with how to make these types of cards report properly .... if you don't want to "game the system" and/or babysit it all the time ... it is certainly worth a phone call to BoA to ask if you can down-grade, yet keep your existing CL.  Just make certain that they understand that you don't want to lose the history.

[Anonymous]

Ahhh, yes, certainly something else going on.

Please briefly read:
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=12006

After that score recovered to 703 in September from 590, 703 again in October and finally 686 in November. I'd gladly post a screen shot but don't think i can. I'll try listing it: December 06 (759), January 07 (761), February 07 (766), March 07 (757), April 07 (799), May 07 (757), June 07 (753), July 07 (745), August 07 (590), September 07 (703), October 07 (703), November 07 (686). I hope that gives a bit of background. As far back as i can remember checking my score (around 4 years back) my score has never been below 735, so i think you see why i'm so frustrated with what happened to me. I think this months small dip is due to closing the remaining two accounts i don't use (Macy's and Express Men) and the whole Signature card CL reporting fiasco.

I am open to any and all suggestions.

[Creditaddict]

I just thought of it... you are getting your scores off Wamu score watcher... what about your fico? you pulled that? they will be way different a lot of times... they might not be waving up and down like your fako score from Wamu

[Anonymous]

If I was you I would be all over AMEX-

It would not even show as a new account- they would post it with your member date-

---

@Anonymous wrote:
I'm wondering what to do now... Now that i have the Signature card i kinda wanna keep it. It has a very high credit limit (30k) although the term "credit limit" is now in question. This also happens to be my oldest account, so i'd kinda prefer to leave it as is. I've had an AMEX Blue in the past, Citi Diamond, etc...but have since canceled them all and all i'm left with now is the BoA Signature VISA and WaMu Platinum VISA (old Providian account kept just for free TU credit score). I'd like to get a new "primary card" that i can use every day. Problem is that i routinely have a balance of 5k+ so i need a card with a decent limit right away. Should i get a Blue again? (do they have any CL reporting issues? i've heard they also don't report CL but only highest balance) I definitely want a card that reports the correct credit limit. Should i get a MasterCard this time just to diversify a bit? If so, which one? Maybe the BoA Platinum Plus MasterCard? (wonder if i can even get that now that my credit score is just below 700.) Or is there a better choice?

---

[Anonymous]

Glad you brought that up! Since i've gotten so concerned about my credit score (never needed to in the past) i'm looking for a good way to track as much of that as possible, and at this point i'm willing to pay almost anything for it. I kinda don't want to digress from the original topic because i you guys are being really helpful, but i'm DEFINITELY looking for something i can log into EVERY DAY and get an update on credit score/credit report. If there is such a product out there please let me know, or at least something that seems to be a group consensus as best product for the job.

[Anonymous]

I'm not sure that would be the case at all...AMEX and I (nobody's fault really, just worked out that way) didn't have a good split so i seriously doubt that they would reinstate that account, in fact, i know they won't because i tried today. At first the lady said that if it's within 3 months of cancellation they could do it, then she noticed that my account went to collections and that was the end of that. Honestly, more than fine with me, because i never liked AMEX or Blue anyways.

[Creditaddict]

your amex card went to collections?

you don't think that is why your score has gone down?

[Anonymous]

---

Anonimac wrote:
Glad you brought that up! Since i've gotten so concerned about my credit score (never needed to in the past) i'm looking for a good way to track as much of that as possible, and at this point i'm willing to pay almost anything for it. I kinda don't want to digress from the original topic because i you guys are being really helpful, but i'm DEFINITELY looking for something i can log into EVERY DAY and get an update on credit score/credit report. If there is such a product out there please let me know, or at least something that seems to be a group consensus as best product for the job.

---

amex creditsecure

[Anonymous]

---

Anonimac wrote:
I'm not sure that would be the case at all...AMEX and I (nobody's fault really, just worked out that way) didn't have a good split so i seriously doubt that they would reinstate that account, in fact, i know they won't because i tried today. At first the lady said that if it's within 3 months of cancellation they could do it, then she noticed that my account went to collections and that was the end of that. Honestly, more than fine with me, because i never liked AMEX or Blue anyways.

---

maybe look into the oasis program