Signature Card doesn't report credit line

[Anonymous]

If you don't like you don't like them-

You are right they won't re-open after 90 days.

It would cost you an INQ-but they would report with your ORIGINAL member date as the opened date.

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@Anonymous 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.

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[Anonymous]

Oh i know that's the reason! but that was initial HUGE fall to 590. Immediately after that it recovered to 703...now i just want to know what is keeping me from raising back up and even another minor dip in November. I just ran into the finding about Signature Cards and how CLs are reported so i'm trying to get a handle on that to maximize my changes of the quick possible recovery.

As i tried to post before, my entire gripe about my situation with AMEX can be read in all it's gripyness here:
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=12006

[Anonymous]

I've read a bit about Oasis on this forum, not really sure what it is.

[Anonymous]

I remember that post.

[Anonymous]

Just read about Oasis program...i have no interest whatsoever in getting back into AMEXs good graces, as far as i'm concerned they lost me for life. I'm not trying to hulk up about it or anything, i just couldn't care less about AMEX. Had all their cards that i wanted (green, gold, blue) and was never blown away. I wish i would have canceled/parted ways on a better note, but now that it's done, i don't see myself ever wanting or needing AMEX for anything.

[Anonymous]

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Anonimac wrote:
Wanted some feedback on the impact of this... I previously had a credit score of 799 and a few months ago i got a BoA Signature card. Since then my credit has gone down significantly (around 700 recently) and i notice that on a credit report the card show NA for credit line and is not called a revolving account but rather a flexible spending account. When i log in to online banking my credit line is properly shows as 30k. I understand that Signature cards don't technically have a limit but i would assume this 30K in essence "disappearing" from my credit profile can't be good. I rely mainly on this card for everything and have all my bills going to it so my monthly balance is usually high (around 5,000) but is always paid in full and has never been an issue before as a percentage of credit limit. I am concerned that credit bureaus will only see my balance and not my much higher credit line. What are the implications of this? And how can i "force" BoA to report the credit limit? (They swear they report it but that it's up to each bureau how they use the information) Appreciate the feedback. Sasa

Message Edited by Anonimac on 11-19-2007 12:07 PM

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Even if you can get BoA to report your $30,000 credit line, remember that because this is a high credit limit, TransUnion and Experian most likely won't be considering the 30K when calculating your utilization.  I have 3 cards with high credit limits, and only Equifax includes these 3 cards' credit limits when calculating my utilization.   When your credit lines are very high, when determining utilization, TransUnion and Experian begin to consider these accounts as installment types,           rather than revolving, even though it still does state on your reports that these are in fact revolving accounts.  I have a BoA World Points Platinum Plus card (not a signature) with a $47,000 credit limit.  This credit line is reported to all 3 credit bureaus, but only Equifax includes this account when determining my utilization.  So, even if you can get BoA to report your limit, it may not help to improve your Experian or TransUnion credit scores.

Message Edited by psychic on 11-20-2007 12:20 AM

Message Edited by psychic on 11-20-2007 12:21 AM

Message Edited by psychic on 11-20-2007 12:25 AM

[Anonymous]

Sounds like i need to just get another card...any suggestions as far as which one? Maybe a MasterCard since current ones are VISA? Which MasterCard do you all suggest?

[Anonymous]

Can you possibly pay a large portion, but not 100%, of your usual $5000 monthly balance before your closing date?  That would help your utilization, until you get another card. 

Since you mentioned that you do PIF monthly, it sounds like a rewards card would work well for you.  What kind of Signature Visa card do you have with BoA?

If you are ever able to have your $30,000 credit limit reported on your credit reports, please let me know.  I'll tell you what I've learned about attaining high FICO scores when you have accounts with high credit limits.   Right now, I could explain to you what I know so far, but things become a little complicated, and this would turn into quite a lengthy discussion. 

Message Edited by psychic on 11-20-2007 09:54 AM

[Anonymous]

I'm really regretting ever letting BoA convert this card from a Platinum Plus VISA to a Signature VISA (both were WorldPoints cards).

Another annoyance, the more i read on this site, is that i have to play the date game with my credit card. I pay in full every single month but now it seems like that isn't good enough, now it seems i have to play some game to make it "appear" that i use my credit card less or whatever by making an interim monthly payment. HOW STUPID! I leave the country frequently so all my bills pay themselves (via Signature Card; did that for the rewards points and they rack up VERY fast) and i don't have to worry about them; now i'm supposed to make some interim payment to appear like a good little customer. I refuse to do that if for no other reason, then out of principle. I have a high six figure income, plenty of credit limit, and always pay my bills in full. I shouldn't need to do anything else to prove myself to credit bureaus. END OF RANT

Anyways, if i do get another card what card should i get? What "looks" good to have? Keeping in mind i have no interest in any AMEX card...

[Dawn]

Did you ask them about converting back to the Platinum Plus and if they would let you retain the CL as it is?