sunwind said: lhendricks92 said: as far as i understand, "high balance" is used by the scoring models only in the absence of credit limit. if both are available, high balance is ignored.
But the question is now I have a credit limit of $1,000 and ten months ago, I had a balance transfer of $15,000. Will that $15,000 be treated as a case of "exceed the limit" which is $1,000 now? Since many FWers have don't the credit limit reallocation for balance transfer, I am curious to know their experiences on this issue.
No. Going over the limit is not even noted on your credit report... there is no way the credit reporting agency would even know if you went over your limit, which you didn't.
JohnGalt69 said: No. Going over the limit is not even noted on your credit report... there is no way the credit reporting agency would even know if you went over your limit, which you didn't.
Is that true? Since I never had an occasion when I went over the limit, I don't know how such information will appear on credit report, if they appear at all. However, I feel that exceeding credit limit will be negative to credit score. If the credit reporting agency doesn't even know this information, how can it affect credit score?
sunwind, your situation is not unique. because of BTs and reallocation, many of us have old cards with high balances that exceed the current limits. our FICOs do not suffer as a result. you're fine, move on.
sunwind said: lhendricks92 said: as far as i understand, "high balance" is used by the scoring models only in the absence of credit limit. if both are available, high balance is ignored.
But the question is now I have a credit limit of $1,000 and ten months ago, I had a balance transfer of $15,000. Will that $15,000 be treated as a case of "exceed the limit" which is $1,000 now? Since many FWers have don't the credit limit reallocation for balance transfer, I am curious to know their experiences on this issue.Negative info is reported to the credit bureaus, it is not calculated by the bureaus based on the raw data provided. The CC issuer specifically tells experian that you have a late payment, over-the-limit (if it is even noted at all), etc.
sunwind said: JohnGalt69 said: No. Going over the limit is not even noted on your credit report... there is no way the credit reporting agency would even know if you went over your limit, which you didn't.
Is that true? Since I never had an occasion when I went over the limit, I don't know how such information will appear on credit report, if they appear at all. However, I feel that exceeding credit limit will be negative to credit score. If the credit reporting agency doesn't even know this information, how can it affect credit score?
Thanks.
As far as I know it is true. There's nothing on your credit report that relates to over-the-limits (and I have gone over). It would show up negatively that month as high utilization, but after that it's as if it never existed. I guess they don't consider going over the limit to make you less credit-worthy in the long run, since it's not a delinquency. It's just like any very high utilization, right? Anyway, this is all OT.
I might have posted this elsewhere, but I haven't gotten a response that I can find, so I hope I won't offend by asking here: Does anyone have any tips for how to conduct a CL transfer from one card to another from the same issuer? Did you have to tell why? [I'm nervous about being so transparent with an AOR...]
Also, I'm curious: has the recent publicity for AOR lead to decreased willingness from issuers to transfer credit lines from one card to another?
Pangloss1980 said: I might have posted this elsewhere, but I haven't gotten a response that I can find, so I hope I won't offend by asking here: Does anyone have any tips for how to conduct a CL transfer from one card to another from the same issuer? Did you have to tell why? [I'm nervous about being so transparent with an AOR...]
Also, I'm curious: has the recent publicity for AOR lead to decreased willingness from issuers to transfer credit lines from one card to another?
I was able to reallocate CL from personal FIA Fidelity to business BofA card, leaving $500 on the Fidelity card. Is there any confirmation that people were able to move CL from the business side of BofA to the personal side?
Just tried reallocate Didvidend Platinum Select to AA World MC (no significant promos on either card (6.9% for 6 mo)) and was given the 24 hour to change line. Makes no sense. If it doesn't happen I'll try one more time and if not then I'll consolodate as both are newer cards.
ingy104 said: Just tried reallocate Didvidend Platinum Select to AA World MC (no significant promos on either card (6.9% for 6 mo)) and was given the 24 hour to change line. Makes no sense. If it doesn't happen I'll try one more time and if not then I'll consolodate as both are newer cards.
Anybody have experience re-allocating or consolidating Advanta Business credit lines? I searched but can't seem to find anyone reporting that it's been done and I'd like to know if it's possible before I apply for more cards with them.
abalazs said: Anybody have experience re-allocating or consolidating Advanta Business credit lines? I searched but can't seem to find anyone reporting that it's been done and I'd like to know if it's possible before I apply for more cards with them.
First try to get multiple cards with Advanta... They wouldn't even issue a card to another partner/LLC member (with a separate personal guarantee and no other Advanta accounts) if one of the partners/members has a card with them.
EugeneV said: jairocon said: I was able to reallocate CL from personal FIA Fidelity to business BofA card, leaving $500 on the Fidelity card.I believe you are the first to report this kind of reallocation. Did you call FIA? Any special tricks?I called BofA Biz directly - got a girl on the phone who couldn't do it and she told me that she can submit the request to a credit dept and I should hear from them w/in 24-48 hrs. I wasn't holding my breath but sure enough 48 hrs later the balances were re-allocated the way I wanted. I did specifically say, I want to do a BT, that seems to be the driving word these days.
EugeneV said: abalazs said: Anybody have experience re-allocating or consolidating Advanta Business credit lines? I searched but can't seem to find anyone reporting that it's been done and I'd like to know if it's possible before I apply for more cards with them.
First try to get multiple cards with Advanta... They wouldn't even issue a card to another partner/LLC member (with a separate personal guarantee and no other Advanta accounts) if one of the partners/members has a card with them.
I hadn't realized they would be so stingy... seems like I got three different offers from them every week for various business credit cards. Maybe those will dry up now that I bit and took one. I'll certainly try to get a few more down the line when I'm ready for my next round of CC apps.
abalazs said: Maybe those will dry up now that I bit and took one. I'll certainly try to get a few more down the line when I'm ready for my next round of CC apps.
No, I'm still getting them, just can't get another card approved, even with a pre-approved app. They did switch my rewards program on my existing account to the one I was trying to apply for after I spoke to a manager.
lhendricks92 said: EugeneV said: jairocon said: I did specifically say, I want to do a BT, that seems to be the driving word these days.
What does reallocation have to do with BT though?
BT equals CSR commission equals "i'll bend over backwards to help you out, mr. jairocon."Yup - have you noticed how the CSRs are so eager to give their extension numbers just so you call them back to do the BT directly with them and not with some other CSRs? Happened to me twice already at BofA, once with Chase and even National City.
ingy104 said: Any recent reports or successes moving plain vanilla Discover to Discover Business Card? reallocation or consolidation? Thanks
Got my own answer when the new Discover Business arrived. Moved 7K of 9K from old vanilla personal to new Business and left the existing $625 balance on the $2K remaining line. Spoke with new accounts.
REJECTED by three reps in trying to reallocate credit line from:
BofA personal to BofA business
The last rep I got on the line said that BofA has recently changed the former MBNA policies and now will not allow moving personal to business or vice versa. She said that I could move business to business or personal to personal; but that was the extent of the reallocation options. This was confirmed by three reps. Two on the business side and one on the personal credit side of the house.
Too bad the old MBNA anything goes days are over. Now that was a great credit card company.
djscal said: REJECTED by three reps in trying to reallocate credit line from:
BofA personal to BofA business
The last rep I got on the line said that BofA has recently changed the former MBNA policies and now will not allow moving personal to business or vice versa. She said that I could move business to business or personal to personal; but that was the extent of the reallocation options. This was confirmed by three reps. Two on the business side and one on the personal credit side of the house.
Too bad the old MBNA anything goes days are over. Now that was a great credit card company.
lhendricks92 said: jdopple said: So I take it that bofa will let me reallocate from existing personal lines on an 'mbna' and bofa visa to a NEW bofa mastercard?
Seems that it may (??) be a good idea to call and tell the rep you are going to do a bt after the rellaocate from what I read.
shouldn't be a problem.Nope. I called the BT number provided in this thread and was able to reallocate all but $500 from each of my BoA cards to a Schwab card. Now I have a $41,500 credit limit and a huge BT.
Is it possible to re-allocate a credit line/account from a Delta Skymiles AMEX to an AMEX Gold? I'd like a Gold card, but do not want a new credit line on my report.
Previous posts seem to have said it could be done, but I called and they told me since Skymiles is a credit and Gold is a revolving, it is impossible. Is it impossible, or is there a trick?
TheMrGreg said: Is it possible to re-allocate a credit line/account from a Delta Skymiles AMEX to an AMEX Gold? I'd like a Gold card, but do not want a new credit line on my report.
Previous posts seem to have said it could be done, but I called and they told me since Skymiles is a credit and Gold is a revolving, it is impossible. Is it impossible, or is there a trick?
I believe this to be impossible except if you have gone through an FR and underwriting has given your Gold card a hard limit. This is not an easy process though. Be prepared (if a business card) to send tax returns, bank statements, balance sheets and profit and loss statements.
I have my AMEX Gold Card set to a hard limit of $150k, and if I wished I could move that credit line around to a different business credit card.
Just got off the phone with Discover activating the new Miles card. The CSR told me she can reallocate CL from any of my other Discover cards and close out the account. I said I dont want to close but if possible I want to keep it open but reallocate a part of the CL. She checked with the Credit Dept and came back and said that would be possible but they would do a hard pull to reallocate.
Its the first I've heard of Discover being able to do this but the hard pull is a big no-no for me right now so I dint go ahead.
just reallocated 2 personal Discover cards (one 9 months "old," one brand new) to a new Discover business card. had to leave $1K on each personal card. i put in a BT request during the same phone call, and the change was reflected immediately online.
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