Visa Signature CL Reporting

[sddykstr]

I recently opened a BofA Signature Visa, $5k CL. I talked to two different credit analysts yesterday who confirmed that it should report a credit limit. I asked the question about 3 different ways to both of them, and got basically the same answer. "In my experience, these signature cards will report your credit limit to the beaurus".

The account showed on my BofA accounts homepage today, not sure when it will show on my CR.

Anyone else have any experience?

[Anonymous]

You need to give the accounts up to 2 months before they will show up on your CR. 

[Anonymous]

I have the BankAmericard Signature VIsa Cash Rewards and the limits are not reported on all three CRAs. If you don't need the Visa Sig benefits, you may want to consider a PC. 

[sddykstr]

Can I PC if I just opened the card? Also, would that have any impact on my CL or interest rate?

[Anonymous]

Visa Signature cards should not report CL on CR because it has no "preset spending limit" I guess BOA is different.

[Anonymous]

My Visa Signature does not report a limit, but it does report the highest amount I have had on the card at one time.

[DI]

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@Anonymous wrote:

Visa Signature cards should not report CL on CR because it has no "preset spending limit" I guess BOA is different.

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i don't understand.  My Visa Signature isn't reporting a credit limit to the CRAs.  But when I log into my account on BOA's website  it shows a $7000 CL. 

[sddykstr]

Same here, mine reports $5k on their website. It should report like any other card. I mentioned to the rep that I had read a lot about the limit not reporting. He said that it would report the limit like any other card. Again, this was two different people.

So either the two I talked to were ill-informed, or they've started reporting. My guess is that they were just confused / incorrect, but hopefully I'm wrong.

I'll be using mine for a fairly large purchase since it's 0%. It will kill my util for a couple of months, but then from there on out, I'll be good since it will report a high limit of about $4k.

[Anonymous]

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@DI wrote:

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@Anonymous wrote:

Visa Signature cards should not report CL on CR because it has no "preset spending limit" I guess BOA is different.

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i don't understand.  My Visa Signature isn't reporting a credit limit to the CRAs.  But when I log into my account on BOA's website  it shows a $7000 CL. 

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We all are confused. According to VISA, "With Visa Signature you have the flexibility to exceed your credit limit should you ever need the additional purchasing power. So you'll have peace of mind knowing that you'll have additional spending flexibility because of a no pre-set spending limit." So I guess if you have a $7000 "limit," you can still put $7500 through your card and shouldn't have a problem. But whether or not the account reports a CL totally depends on your bank.

Someone correct me if I'm wrong.

Scr: http://usa.visa.com/personal/visa-signature/benefits/no-preset-spending-limit.jsp

[sddykstr]

That is possibly the dumbest thing that I've heard. It's like if a green card and a visa had a love child. Kind of the worst of both worlds really, but whatever it's my highest limit card.

Maybe once I make my big purchase and pay it off in a couple months I'll try to PC. I honestly don't know that I'm super concerned about it....I just found it really odd.