FutureBillionaire wrote:if you have a card like a Visa Signature that doesn't report a credit limit, your utilization can be negatively impacted if you carry a balance. I would recommend not carrying a balance on those types of cards.
Apologies for bumping such an old thread, but this statement has me concerned...
For awhile I kept telling my GF to pay off all her other revolvers off, and to keep the balance on the BofA Visa Siggy instead (if she doesn't have the funds to pay everything
off of course).
Since it doesn't count as her utilization (which is currently reporting around 5%), it seems to make her score excellent (FICO 710, FAKO 725). Her balance on her BofA Visa Siggy is actually $4K/$5K CL. This is actually her highest CL for a revolver and if it was reported as part of the utilization, it would make her overall UTIL around 60%!
I figured since it reports as a 'charge' card rather then a revolver, then it's okay to keep the higher balance if I had to choose between the BofA Visa Siggy vs her other revolvers.
So how is her UTL being negatively affected? I'm worried i've been giving her the wrong info for months, lol - i guess.
ETA: (Sorry, just realized this is off topic from the thread title. Mods - let me know if i need to make a new thread or something)