Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
BH8489

0 Contributions
0 People Helped
What is the advisable for utilizing credit on a Visa Signature card?
My understanding is that Visa Signature cards do not report credit limits the same way as other cards. Say I'm approved for a credit limit of $10,000 on a Signature card: it sounds like that won't get reported to credit bureaus, so the bureaus calculate available credit / monthly utilization based on the highest monthly balance the card has ever had.

Sources:
http://www.businessinsider.com/the-worst-credit-card-to-rebuild-credit-visa-signature-preset-spending-limit-2013-3
http://www.moneyunder30.com/beware-credit-cards-do-not-report-credit-limit-credit-bureaus

Is that accurate? And if so, is it wise to spend as close to the assigned credit limit (i.e. $10,000) as possible in a month so that permanently utilization will be reported closer-to-correctly? If that is a good idea: is it better to pay off the $10k before the end of the statement, or pay it off once the statement comes? (Of course, it should be paid on time, the first time-- carrying a large balance over would be a bad idea for obvious reasons.)

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
675 Contributions
353 People Helped

I do not belive that is true.  I have 3 visa sigs and they all report a credit limit and what ever I leave to show as my balance.  For the record I would never carry a balance of 30% of my credit limit.  That is when you start to see your score go down.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.