Visa Signature CL Reporting

[JaseT]

Visa Signature cards generally allow you to exceed the CL, but any amount charged over the CL will not revolve and must be paid in full.

As far as reporting or not, it depends on the card issuer. My Nordstrom Visa Signature reports a limit.

[vish1]

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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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I duno how BofA handles them, but when we called for my cousin's card status, the automated system said credit access line for the visa signature. The reps she talked to said, credit access line was the amount she could revolve, if she overshot, there would be no penalty, but the overshot amount must be paid along with min payment.

We din't bother to ask about reporting as we have been reading different comments from different people so she thought she would wait and watch.

[wollepopolle]

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@sddykstr wrote:

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?

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They are full of it. My BoA Signature Visa doesn't report my CL, only past highest balance.I wonder why these people have the confidence to just claim things about which they know very, very little.

[rdkarm]

I had BofA Visa Signature since May 2011. It did not use to report my $5000 limit, but it did report my highest usage of $3200. I was building my credit and so I called them a couple of times about it 6 months and nothing happened, and I already gave up on that. Just yesterday (Sep 30 2013), I got a notification from my Credit Karma account that my BofA sig visa reported my $5000 credit limit. I checked my Quizzle account and saw it there as well. Check your credit report folks, maybe BofA changed their policy.

[pdog661]

I had the Visa sig, and it report the "limit" only on Exp.  The odd part was the CL would sometimes show up on Trans as well, but it was hit or miss. 

The bonus of the flex pay is similiar to AMEX's "pay over time" feature.  Basically the card is NPSL.  You can charge any amount you want (within reason like AMEX) but you can only revolve the limit they give you.  So for example if you have a 10K limit  and you spent 30K that month on the card...... Your minium payment would be 20K at the end of the month.