Re: no spending limit

Posted by David (63.202.187.5) on May 31, 2004 at 17:58:00:

In Reply to: no spending limit posted by anon on May 31, 2004 at 02:05:34:

No preset spending limit cards (called World cards under the Mastercard label and signature cards under the Visa labe;) can have a negative effect on your credit score because the revolving credit line is not shown on the report. You can get around this with some of the cards by charging up to the limit or even over the limit and carrying that balance on the date the billing cycle closes. Then your credit report will show this amount in the high balance field on your report and your ratio of balances to limits will me more favorable once you pay the card down. This will not work if the creditor does not report the high balance to the CRAs. You would have to call and ask that it be reported.

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