What kind of hit would I take from losing a CL reporting?

[smc733]

I really want to bump my BofA Cash Rewards to a Visa Signature, but that means losing the CL reporting.

If I were to hypothetically use that and an Amex Charge Card each month, would that effectively show as not using my cards?  I would keep my Citi World Card and one other (Discover or Chase), and dump one along with my store card.  Thoughts?

[TheCreditKid]

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@smc733 wrote:

I really want to bump my BofA Cash Rewards to a Visa Signature, but that means losing the CL reporting.

If I were to hypothetically use that and an Amex Charge Card each month, would that effectively show as not using my cards?  I would keep my Citi World Card and one other (Discover or Chase), and dump one along with my store card.  Thoughts?

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Not necessarily, it will show Signature card with high utilization % & AMEX is categorized differently I believe. However, both Signature and AMEX will demonstrate usage and shows activity. Also, for the most part EQ and EX will ignore charge cards but TU will utilize it.

Will you be requesting a CLI from BofA for the option of upgrading to a Visa Signature? Minimum CL $5000 for any Visa Signature.

I would keep all cards, age them up baby!

[smc733]

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@TheCreditKid wrote:

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@smc733 wrote:

I really want to bump my BofA Cash Rewards to a Visa Signature, but that means losing the CL reporting.

If I were to hypothetically use that and an Amex Charge Card each month, would that effectively show as not using my cards?  I would keep my Citi World Card and one other (Discover or Chase), and dump one along with my store card.  Thoughts?

---

Not necessarily, it will show Signature card with high utilization % & AMEX is categorized differently I believe. However, both Signature and AMEX will demonstrate usage and shows activity. Also, for the most part EQ and EX will ignore charge cards but TU will utilize it.

Will you be requesting a CLI from BofA for the option of upgrading to a Visa Signature? Minimum CL $5000 for any Visa Signature.

I would keep all cards, age them up baby!

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Interesting, so then it is safe to use them in a case like that?  I use so little compared to my limits that I'm sure the "high balance" thing would not be a problem.

So I know someone with a Signature that was CLD to a $500 card, and when I called in to ask, the rep was all ready to convert me to a VS at my current CL, though my last CLI was in January, so I should be able to ask $3,500>$5,000 now, though I know they're now pulling hard, so I may wait.

Perhaps I will keep all cards, I just know Chase, Discover, and Amazon store card won't see the light of day for a while if I get Amex, especially.  I'll keep my Citi card active because I do like it, and one day I'll spend enough to use 3 daily spenders instead of 2.

[TheCreditKid]

Everythings fine with your credit portfolio and how you've been managing it. Good luck on the Zync, keep up the great work. Don't app too much, you'll end up like me haha.

[Uborrow-Upay]

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@smc733 wrote:

I really want to bump my BofA Cash Rewards to a Visa Signature, but that means losing the CL reporting.

If I were to hypothetically use that and an Amex Charge Card each month, would that effectively show as not using my cards?  I would keep my Citi World Card and one other (Discover or Chase), and dump one along with my store card.  Thoughts?

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IMO, don't do it, smc733.  Leave it alone.

You're good where you're at. 

[Anonymous]

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@Uborrow-Upay wrote:

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@smc733 wrote:

I really want to bump my BofA Cash Rewards to a Visa Signature, but that means losing the CL reporting.

If I were to hypothetically use that and an Amex Charge Card each month, would that effectively show as not using my cards?  I would keep my Citi World Card and one other (Discover or Chase), and dump one along with my store card.  Thoughts?

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IMO, don't do it, smc733.  Leave it alone.

You're good where you're at. 

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+1

[smc733]

The myFICO kings have spoken! I will leave it alone. Now, when the CL gets large can I always refuse the upgrade so that I can stay on Platinum?

[TheCreditKid]

Great choice, I've made the same decision on my Platinum Plus BofA Bankamericard.

[Anonymous]

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@smc733 wrote:
The myFICO kings have spoken! I will leave it alone. Now, when the CL gets large can I always refuse the upgrade so that I can stay on Platinum?

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Has they offered you to upgrade your Platinum to Signature?   If you have a choice ~ yes, that is a good idea.

I have a Chase Freedom and it was basic MC ... then Chase PCd it to the WORLD MC one day and screwed my CL report.   Now, they report its highest balance of about 5.2k instead 9k CL.   There was no choice for me.

[smc733]

They haven's said anything yet.  My question is this, would it be best to stop using this card, because many people have said BofA doesn't give a choice.  I could shift my banking to Citibank (both have an equal presence here in Boston), and use my Citi Dividend World card, which reports the CL (just wish it showed pending charges).