US BANK Visa SIGNATURE - NICE!

Discussion in 'Credit Talk' started by dogman, Mar 19, 2004.

  1. dogman

    dogman Well-Known Member

    I am getting the HELOC, and my scores went down with the mortgage.
    I called US Bank to get them to send the mortgage lender an explanation on HOW SIGNATURE card worked.
    (As we know, SIGNATURE has two parts - the revolving line and the total spending limit). However, both SIGNATURE and WORLD MC only report highest balance - like AMEX CHARGE.
    (BUT, SIGNATURE and WORLD will quickly send a fax if necessary, to a lender, explaining that these cards are the most powerful cards available - and that there are two limits - the internal revolving for cash and BT, then the no preset limit above that - which actually has a TOTAL SPENDING POWER limit).

    While on the phone, I told her I bought my condo - she asked if it would help my HELOC rate and credit ratios if I had more credit available? I said no doubt!

    In one second, she came back and said my revolving was now $6500, and my TOTAL SIGNATURE spend limit is now $15,500!

    GREAT! This card I got in October, and now they have doubled my TOTAL SIGNATURE limit!
    The Dogman now has his highest limit card - Visa SIGNATURE!
    I am glad I got this!

    arrrrfffff - dogman
    _________________
    Arf - DOGMAN
     
  2. charlieslex

    charlieslex Well-Known Member

    Way to go dogman. Congrats on the house. You settled in good yet? Charlie
     
  3. MisterX

    MisterX Well-Known Member

    dogman,

    thanks for explaining how the credit limits on the signature card function and how they are reported... I recently got the Alaska Airlines Sig Card from BofA and wasn't entirely sure how it all worked. I was treating the card like a regular revolving credit card acct and was expecting to see similar notations on my CRs.

    Haven't tested the no-preset limit portion of the card, but when I do (and I will), I'm looking forward to seeing the statement and how BofA will handle it. I believe any amt over the limit has to be all paid off at the end of the month like a charge card... You would also, of course, have to also include another payment for the revolving portion of the card.

    Kind of funky... a hybrid card.

    MisterX

    p.s. How are the JCB and HULK cards treating you?
     
  4. MisterX

    MisterX Well-Known Member

  5. willgator

    willgator Well-Known Member

    so dogman if my reported limit on gold class sig card is 25,000 what is total limit 50,000
     

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