Visa Signature Questions

[EaglesFan2006]

I have a couple of questions about Visa Signature cards? 

1) How does the "no preset spending limit" thing work since the card has a listed limit?

2) Do banks report that limit to the CRBs?

3) To enjoy the bulk of benefits that the card offers, do you have to book most things through the Visa Signature website?

[takeshi74]

Some report limits or high balance, some do not.  IIRC, NPSL allows one to exceed the limit to a point but the excess must be paid in full by due date.  I.e. only the limit can be revolved.

Signature benefits from Visa generally don't require going through the Signature site but you'd have to read the terms to verify.

Some other recent threads:

https://www.google.com/search?q=signature+no+preset+spending+limit+site:ficoforums.myfico.com&safe=a...

[EaglesFan2006]

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@takeshi74 wrote:

Some report limits or high balance, some do not.  IIRC, NPSL allows one to exceed the limit to a point but the excess must be paid in full by due date.  I.e. only the limit can be revolved.

Signature benefits from Visa generally don't require going through the Signature site but you'd have to read the terms to verify.

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That makes sense.

Do you know if Chase reports the limit?

[eddie84]

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@EaglesFan2006 wrote:

Do you know if Chase reports the limit?

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Yes, they do.

[Luscher]

All chase NPSL cards report limits

[09Lexie]

^^^^ also, they are listed as flexible spending accounts.

[EaglesFan2006]

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@09Lexie wrote:
^^^^ also, they are listed as flexible spending accounts.

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What exactly does that mean?  I never heard of that outside of work where they offer those as a health benefit....

I'm still kind of confused on how the NPSL works anyway, but it's fine...I don't plan on ever nearing the limit anyway.

[09Lexie]

NPSL or flexible spending for Signature cards means that charges 'may' be approved which exceed the issued CL. However, any amount charged over the CL plus the normal payment is required to be paid during the normal billing period.

For instance, you have tickets that cost $7500 and your CL is $5000. Chase may allow the additional $2500 to be charged but it plus your normal min pyt is required to be paid with your next billing cycle.

Unlike Amex charge cards, if the CL is listed the reported balance will effect your util.

[EaglesFan2006]

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@09Lexie wrote:
NPSL or flexible spending for Signature cards means that charges 'may' be approved which exceed the issued CL. However, any amount charged over the CL plus the normal payment is required to be paid during the normal billing period.

For instance, you have tickets that cost $7500 and your CL is $5000. Chase may allow the additional $2500 to be charged but it plus your normal min pyt is required to be paid with your next billing cycle.

Unlike Amex charge cards, if the CL is listed the reported balance will effect your util.

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Gotcha...So does the listing of of it as an FSA have any impact on your overal credit profile?

[09Lexie]

None whatsoever. I think I noticed it on my TU report , I'll have to check the others to see if it reports the same.