freedom new member:)

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
8 posts
cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

freedom new member:)

Postby cdogg » Thu Apr 11, 2013 6:15 pm

You can see from my signature, i only keep min credits for my porfolio .but recently i just get tired of bank of america card. I have been having bank accounts with chase for over ten years. so today, i received this pre-approved letter from Chase with $100 cash back offer. i thought what the heck. apply online,approved for $10k CL. little disappointed since i was expecting around 15-20k to match what i got from BOA card. my credit score is about 785. and my utilization % is about 2% overall. my overall CL is $48000 not including BOA's $20k CL.

so do you think $10k CL is decent enough to get started? and do you think i should cancel the BOA card, only had for about 3 years, but my AMEX card is about 20 years.
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94
Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10
Discover IT $9.5k member since 10
Chase freedom $10k, since 13
BB Store card $2600, since 02
Macys $2700, since 02
Gap/BR $800, since 02


432521
Centurion Member
Centurion Member
 
Posts: 379
Joined: Thu Apr 26, 2012 3:15 pm
Location: USA

Postby 432521 » Thu Apr 11, 2013 6:25 pm

if the BOA card has no annual fee I would keep it open just for the CL
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Thu Apr 11, 2013 6:43 pm

432521 wrote:if the BOA card has no annual fee I would keep it open just for the CL


+ 1

cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

Postby cdogg » Thu Apr 11, 2013 8:31 pm

432521 wrote:if the BOA card has no annual fee I would keep it open just for the CL


even though they don't report the cl?
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94

Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10

Discover IT $9.5k member since 10

Chase freedom $10k, since 13

BB Store card $2600, since 02

Macys $2700, since 02

Gap/BR $800, since 02

432521
Centurion Member
Centurion Member
 
Posts: 379
Joined: Thu Apr 26, 2012 3:15 pm
Location: USA

Postby 432521 » Thu Apr 11, 2013 9:59 pm

cdogg wrote:even though they don't report the cl?


wow they dont report the CL? I thought even though its a signature they report it now, I know for sure they didn't report a few years back I thought they did now. If they don't I still say keep it open since it isn't gonna cost you anything to keep it open.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Thu Apr 11, 2013 10:04 pm

432521 wrote:wow they dont report the CL?


They don't report Visa Signature card limits. They do report Platinum Visa card limits.

DaftMonk
Green Member
Green Member
 
Posts: 7
Joined: Wed Mar 20, 2013 6:17 pm
Location: San Diego

Postby DaftMonk » Thu Apr 11, 2013 10:47 pm

DavidNY wrote:They don't report Visa Signature card limits. They do report Platinum Visa card limits.


Could not reporting a credit limit be undesirable?

The reason I ask is because I'd like my second card to report a limit in order to increase my overall credit limit.

Right now, my only card is an Amex Gold charge card that consistently reports @ 100% utilization every month, with charges in the 8-10k range. I confirmed with a manager at myFICO that charge cards report @ 100% utilization (assuming you don't pay it off to zero dollars by the reporting date).

Hopefully that question makes sense. In essence, I wouldn't want a Signature card if it's not going to help increase my overall credit utilization.

Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Fri Apr 12, 2013 6:21 am

While I would be a little disappointed too, $10k isn't bad and is a lot to start out with compared to most. Garden it for the next 6-12 months and then ask for a CLI. I'll bet you can do better by then.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests