Do Signature level affect score?

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damasterjj
 
Posts: 2
Joined: Wed Jun 05, 2013 5:49 pm
Location: Indiana

Do Signature level affect score?

Postby damasterjj » Wed Jun 05, 2013 6:13 pm

I applied online and I was approve for Cash Rewards from Cap One. Before I only have 1 credit card Chase freedom with 4K CL. Capital send me letter saying I was approve for 10K CL and my fico score is 744.

I was wondering if this will affect my credit score because I heard signature cards doesn't report credit limit.

I pick cap1(with 1.5% rewards) because I think it would work very well with chase freedom without having too many cards. due to annual fee 1.5 rewards beats venture 2% unless I spend 12K. Also I need a card with foreign transaction fee, I think this is the best card for me.


Bksuper
Centurion Member
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Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Fri Jun 07, 2013 3:39 pm

Signature cards do report limits if they have one. Some let you charge over the limit without penalty if you treat that portion as a charge card. Since they have $5k+ limits, that will help your DUR and score, but not the signature status itself. That just gets you some extra benefits and the bank more money per swipe.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

damasterjj
 
Posts: 2
Joined: Wed Jun 05, 2013 5:49 pm
Location: Indiana

Postby damasterjj » Sun Jun 09, 2013 12:25 am

it says revolving credit line 10K. hopefully they report it.

how do you like city forward? I was thinking of getting one because I eat out frequently. how much do the points actually worth?

Bksuper
Centurion Member
Centurion Member
 
Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Fri Jun 14, 2013 1:53 am

The points are worth $0.01 if you redeem for the right thing (check made out to loan acct), but you have to be careful to make sure you get that valuation. You get 5x points per dollar for restaurants (both dining and fast food), media (book stores, amazon, music stores ie ITunes, record stores), and entertainment venues (concert tickets, sporting tickets, movie theaters, museum admission, etc), 1 point per dollar everywhere else, and 100 bonus points per month for good behavior (paying at least the minimum on time, making at least 1 purchase, and staying under the credit limit). There are no caps or expirations.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

websteth
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Posts: 279
Joined: Sun Dec 05, 2010 10:40 am
Location: Florida

Postby websteth » Sat Jun 15, 2013 10:15 am

Bksuper wrote:Signature cards do report limits if they have one. Some let you charge over the limit without penalty if you treat that portion as a charge card. Since they have $5k+ limits, that will help your DUR and score, but not the signature status itself. That just gets you some extra benefits and the bank more money per swipe.


All of my Signature cards report a limit. The only ones that don't have a limit reported are my American Express Charges which only report a high balance.
American Express: Platinum, Zync, Platinum Delta SkyMiles, Blue, Starwood Preferred Guest
Barclaycard US: iTunes Reward Visa, US Airways Premier World MasterCard
Chase: Sapphire Preferred Visa Signature, Freedom Visa
Citi Bank: Hilton HHonors Visa Signature, AAdvantage Platinum Select World Elite MasterCard
Bank of America Virgin Atlantic World Elite MasterCard
Discover: Discover it
Other:Macy's Star Rewards, Target REDCard



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