what should I do?

[Anonymous]

Hi everyone!

three days ago I posted that I applied and was approved for BOA Bankamericard reward visa. I received a credit watch alert this morning from experian reporting a new acct on my CR. Somehow the bankamericard acct is already reporting on experian. I haven't even received the card yet. The biggest problem is that it is showing type of acct as Flex Spending no limit reported.

what should i do? before i signed up for the card the cs rep confirmed that it will report a limit.

I called BOA credit reporting this morning and after a record time of 2 hours on hold they told me they don't know anything about it but advised not to dispute it  because the account is too new. They said, i should wait few months for the card to report correctly.

any advise?  please help

[llecs]

I would wait. I'd wait for the card (any yes, BofA will report before you receive the card) and then pull the CRs again to double-check. After that, I would call BofA. It won't take a few months. I'd call a couple days after receiving the card.

[Anonymous]

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@llecs wrote:
I would wait. I'd wait for the card (any yes, BofA will report before you receive the card) and then pull the CRs again to double-check. After that, I would call BofA. It won't take a few months. I'd call a couple days after receiving the card.

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should I wait for BOA to report the first statement balance before pulling the CRs?

[llecs]

It probably wont matter. I'd call them when the card comes in. You'd want to look for any identifying info on the card that indicates that the CL won't report.

[Anonymous]

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@llecs wrote:
It probably wont matter. I'd call them when the card comes in. You'd want to look for any identifying info on the card that indicates that the CL won't report.

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thanks. I'll wait till the card arrive.   BOA service rep specifically told me that I was approved for a credit limit of $8000. if the card really comes with no pre-set limit, would it be a bad idea to close it?

[llecs]

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Max09 wrote:

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@llecs wrote:
It probably wont matter. I'd call them when the card comes in. You'd want to look for any identifying info on the card that indicates that the CL won't report.

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thanks. I'll wait till the card arrive.   BOA service rep specifically told me that I was approved for a credit limit of $8000. if the card really comes with no pre-set limit, would it be a bad idea to close it?

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Don't close it. The damage with the new account is already done. Closing it won't help you any. I'd ask them to report a limit.

[CodeMonkey]

Max,

It's probably one of the "no pre-set limit" cards that does not report a CL - I have a Signature Visa with B of A and have the same issue.

If it is a big enough concern to you, you can probably call in and have them product change you over to a card that does report CL, so that way you'll have your $8k limit reported.

I'm hoping one of these days FICO will change so that all of these higher-end "no limit" cards do report their credit line amounts - I have a few of them - we'll see!

Good luck.

[Anonymous]

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@CodeMonkey wrote:

Max,

It's probably one of the "no pre-set limit" cards that does not report a CL - I have a Signature Visa with B of A and have the same issue.

If it is a big enough concern to you, you can probably call in and have them product change you over to a card that does report CL, so that way you'll have your $8k limit reported.

I'm hoping one of these days FICO will change so that all of these higher-end "no limit" cards do report their credit line amounts - I have a few of them - we'll see!

Good luck.

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Yes, it definitely is a concern to me. I am already having trouble with transunion reporting my amex charge card as a revolving accnt with no limit.

what upsets me is that I was very clear with the cs rep before I signed up. I told him, I do not want a no limit card  and he confirmed that bankamericard reward visa is  NOT a "no limit card". He said it will absolutely report a limit. Now, who knows how much damage this is going to do to my scores.

[Anonymous]

A little confusion here... maybe its just the wording you used, but an AMEX 'charge' card doesn't have a preset limit.  What type of AMEX card are you trying to get TU to fix?

[Anonymous]

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@Anonymous wrote:
A little confusion here... maybe its just the wording you used, but an AMEX 'charge' card doesn't have a preset limit.  What type of AMEX card are you trying to get TU to fix?

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I have a green amex charge card and for some reason Transunion is reporting as a revolving account with no limit. I have disputed over and over for the last 6 months and they don't to want change it. I even got amex credit reporting to do a manual update. Transunion is still coding wrong and now they refuse to invistigate it. They even threatned me in writing that if i don't stop disputing the information on this acct they will delete it.

this is why I don't want to have any more cards that to don't report a limit.

Message Edited by Max09 on 11-07-2008 02:17 PM

Message Edited by Max09 on 11-07-2008 02:18 PM