VIsa signature / World Mastercard

[Feather_Hat]

hey guys, is it true that once you convert your CC to visa signature/ world mastercard, those card will no longer reported to three credit bureaus?

also, upon conversion, does CL becomes unlimited?

i was unaware of those different tier level when it comes to visa and mastercard,,,i thought everything was the same lol

[FinStar]

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@Feather_Hat wrote:

hey guys, is it true that once you convert your CC to visa signature/ world mastercard, those card will no longer reported to three credit bureaus?

also, upon conversion, does CL becomes unlimited?

i was unaware of those different tier level when it comes to visa and mastercard,,,i thought everything was the same lol

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No, PCs to Visa Signature or WMC/WEMC do not suppress CRA reporting.  The tradelines will still be reported to the CRAs, some of these (depending on designation from the issuer) will reflect as Flexible Spending Lines and the CL and corresponding balance(s) - if any - will be reported.  BOA just recently changed their reporting policy on their Visa Signature CCs - previously only the High Balance would report (no CL).  However, since the change, now the CL is reported.

Now, there are some products that do not report to the CRAs, almost functioning like hidden tradelines.  The JPM Palladium Visa Signature and JPM Select Visa Signature.  From the retail side (non-bank card), the Bill Me Later product also does not report the TL.

As far as the NPSL feature, the CL is not unlimited.  Each issuer has their own overline guideline for any charges that exceed the "hard" limit.  This is usually established with the account's usage/history, internal score and other factors as well.  Some lenders will want you to contact them in advance in the event any transactions may exceed as an overline.  It's worth noting that any NPSL (overline) transaction/balance is typically due in full along with any required payment for that billing cycle.

[Feather_Hat]

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@FinStar wrote:

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@Feather_Hat wrote:

hey guys, is it true that once you convert your CC to visa signature/ world mastercard, those card will no longer reported to three credit bureaus?

also, upon conversion, does CL becomes unlimited?

i was unaware of those different tier level when it comes to visa and mastercard,,,i thought everything was the same lol

---

No, PCs to Visa Signature or WMC/WEMC do not suppress CRA reporting.  The tradelines will still be reported to the CRAs, some of these (depending on designation from the issuer) will reflect as Flexible Spending Lines and the CL and corresponding balance(s) - if any - will be reported.  BOA just recently changed their reporting policy on their Visa Signature CCs - previously only the High Balance would report (no CL).  However, since the change, now the CL is reported.

Now, there are some products that do not report to the CRAs, almost functioning like hidden tradelines.  The JPM Palladium Visa Signature and JPM Select Visa Signature.  From the retail side (non-bank card), the Bill Me Later product also does not report the TL.

As far as the NPSL feature, the CL is not unlimited.  Each issuer has their own overline guideline for any charges that exceed the "hard" limit.  This is usually established with the account's usage/history, internal score and other factors as well.  Some lenders will want you to contact them in advance in the event any transactions may exceed as an overline.  It's worth noting that any NPSL (overline) transaction/balance is typically due in full along with any required payment for that billing cycle.

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thank you for making things clear.

so it would be smart to have regualr visa/mastercard CC to build credit score..

i heard that the benefits of visa signature/ world mastercard are really good lol

oh btw, what does NPSL stand for?

[FinStar]

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@Feather_Hat wrote:

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@FinStar wrote:

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@Feather_Hat wrote:

hey guys, is it true that once you convert your CC to visa signature/ world mastercard, those card will no longer reported to three credit bureaus?

also, upon conversion, does CL becomes unlimited?

i was unaware of those different tier level when it comes to visa and mastercard,,,i thought everything was the same lol

---

No, PCs to Visa Signature or WMC/WEMC do not suppress CRA reporting.  The tradelines will still be reported to the CRAs, some of these (depending on designation from the issuer) will reflect as Flexible Spending Lines and the CL and corresponding balance(s) - if any - will be reported.  BOA just recently changed their reporting policy on their Visa Signature CCs - previously only the High Balance would report (no CL).  However, since the change, now the CL is reported.

Now, there are some products that do not report to the CRAs, almost functioning like hidden tradelines.  The JPM Palladium Visa Signature and JPM Select Visa Signature.  From the retail side (non-bank card), the Bill Me Later product also does not report the TL.

As far as the NPSL feature, the CL is not unlimited.  Each issuer has their own overline guideline for any charges that exceed the "hard" limit.  This is usually established with the account's usage/history, internal score and other factors as well.  Some lenders will want you to contact them in advance in the event any transactions may exceed as an overline.  It's worth noting that any NPSL (overline) transaction/balance is typically due in full along with any required payment for that billing cycle.

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thank you for making things clear.

so it would be smart to have regualr visa/mastercard CC to build credit score... You can build a good score with any tradelines, as long as this results in positive history.  A good mix of cards, loans, etc. tends to provide optimal results.  Of course, major bank cards have the advantage of wider worldwide acceptance than store/retail cards. 

i heard that the benefits of visa signature/ world mastercard are really good lol  They are additional card perks for having such loyalty programs (e.g. concierge services, entertainment/shopping experiences, select travel or luxury packages, etc); each issuer can (at its discretion) provide additional or enhanced benefits. 

oh btw, what does NPSL stand for? No Preset Spending Limit

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[Feather_Hat]

thanks again =D

so, with NPSL cards, is it always PIF each month or carrying balance is possible ?

[FinStar]

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@Feather_Hat wrote:

thanks again =D

so, with NPSL cards, is it always PIF each month or carrying balance is possible ?

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For AMEX charge cards - or other specific business card products (non-revolving, NPSL), balance due in full by due date.

For standard/revolving (NPSL) credit cards, option to pay over time (except for any overline balance due in full by due date).

[Feather_Hat]

so technically i could think NPSL cards as credit card + charge card..

i have option to carry balance over for some balance but have to PIF for any OVER the limit amount...

sounds pretty good !

thanks !

[bmwman3241]

How can you determine if your account is NPSL? 

I was approved for a Chase Freedom card with 10k limit in the first week of December, and when I received the card it says Visa Signature.

Any idea if it will report on my CR and if it is NPSL?

[longtimelurker]

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@bmwman3241 wrote:

How can you determine if your account is NPSL? 

I was approved for a Chase Freedom card with 10k limit in the first week of December, and when I received the card it says Visa Signature.

Any idea if it will report on my CR and if it is NPSL?

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It will certainly report on your CRs, and almost certainly as a sig it is NPSL.   The agreement that came with the card should spell this out.

Note the NPSL doesn't mean that much.  The issuer is free to decline ANY transaction that puts you over the CL  (and, at least in the past, on non-NPSL cards the issuer could approve over-the-limit charges)

[p-]

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@bmwman3241 wrote:

How can you determine if your account is NPSL? 

I was approved for a Chase Freedom card with 10k limit in the first week of December, and when I received the card it says Visa Signature.

Any idea if it will report on my CR and if it is NPSL?

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Both my Chase Freedom Visa Signature and my Capital One Quicksilver World Mastercard show up on my report as type "Credit Card" and have the limit listed.  It should show up on your report like a normal credit card.  

The Visa Signature benefits page states that "No pre-set spending limit gives you additional spending flexibility should you need it, so you can enjoy added peace of mind." but also says "Not all Visa Signature cards offer this benefit. Availability is determined by your card issuer."

It would be smart to confirm that with the card issuer before you exceed the limit. I have never tried it, as 20k is way more that I ever want on a credit card.