Bank of America Visa Signature Card

**smcc** · January 27th, 2008, 04:43 PM

I spoke recently to a Client Rep regarding upgrading my BankAmericard to a Visa Signature Card. I assumed the Visa Signature had no pre set spending limit. Wrong! I asked the rep what perks are associated with the Visa Signature card that aren't with their other Tier One Cards. She responded that the BankAmericard has a 1.5 to 1 reward points but the Visa Signature doesn't. My question to all of you is what makes this card so different than all the other Tier One cards BOA offers?

**hjm331** · January 27th, 2008, 05:01 PM

smcc, the bank of america signature visa card doesn't have a pre set spending limit. When people hear that, they think you can spend it as much as you want and not having to worry about going over the limit. Some of is it true but let's say your credit limit is $1,000 and you make purchases that add up to $1,300. You won't get charged for going over the limit but you have the pay the difference between the amount you charged and your limit which in this case is $300. You have to pay the difference before the statment closing/before they report it to the CB's. Hope this helps.

**smcc** · January 27th, 2008, 05:17 PM

Thanks HJM331 but what makes this card different than other Tier One Bank of America Cards? My Visa World Points Visa and now my BankAmericard afford me what you speak of?

I read the brief preview on this site and I just don't see the difference for the "Excellent Credit" required vs "good" credit for other cards offered by BOA.

**hjm331** · January 27th, 2008, 05:50 PM

smcc, from my own observation, there's not really that much of a difference. You have to have great credit in order to get approved for Bank of America cards. It's just that some of the cards have promotional offers such as $50 statement credits on your first statement and/or 0% intro apr for 12 billing cycles. It's better to research all this info on their website www.bankofamerica.com/creditcards

**Eric** · February 6th, 2008, 12:38 AM

Well there really is no difference in these cards...alot of these are just pretiges by the name "signature" or "world" cards. You hand anyone that knows a thing about credit cards and they see you paying for something with a signature visa, they think WOW this guy has it together. Only 4% of Visa's are signature cards.

also this is directly from bofa:

No-preset spending limit does not mean unlimited spending. Bank of America will allow customers with no pre-set spending limit accounts to exceed their credit limit without an over-limit fee.

Every charge in excess of the established credit limit that shows on an account is reviewed as it is presented and although the bank makes every effort to approve the transaction, there are cases when they will be declined.

The cards that we have the "no pre-set spending"

World Mastercard
Amex Black
Visa Signature
Quantum
AMEX accolades

**hjm331** · February 6th, 2008, 01:23 AM

Eric, that is exactly what I told everyone else about the BofA Visa Signature card. It just helps you create a good impression of the person you show the card to.

**porgy1000** · February 6th, 2008, 07:31 AM

I didnt like the BofA visa signature card at all. It reports to the credit bureaus your current balance as your line of credit, therefore showing you as MAXED out at the bureaus which lower your score. I closed mine last month and my credit scores went from 777 to 809. It was NOT a good card from a reporting stand point.

As far as the American Experss Black Card. Well I went and applied for it after what I saw on here. They issued me a card with no pre set spending limit, however, on my credit report is states CREDIT LINE $75,000. So if I spend $15,000 it will NOT show as a maxed out line unlike the Bank of America Signature card.

Your credit scores are your best asset, any card that will lower your score your just better off dumping

**hjm331** · February 6th, 2008, 12:52 PM

Porgy, did you try asking them if they can report your credit limit to the CB's or else they would be losing a great customer since you would be closing your account with them?

**porgy1000** · February 6th, 2008, 04:34 PM

Yes, I called and asked them. They said they will only report a SIGNATURE cards outstanding balance as the credit limit. I have pages of info on this in the credit card reviews on this site for that card.

**hjm331** · February 6th, 2008, 05:22 PM

I'll check it out right now.

**Eric** · February 7th, 2008, 12:13 AM

Actually Porgy...the AMEX accolades is the best

**hjm331** · February 7th, 2008, 12:19 AM

Eric, how long do you think I should wait before I try upgrading my student platinum plus visa? 1 year?

**Eric** · February 7th, 2008, 08:12 PM

Originally Posted by 100379

Eric, how long do you think I should wait before I try upgrading my student platinum plus visa? 1 year?

Minimum a year...probably 2-3 years for the AMEX upgrade.

**hjm331** · February 7th, 2008, 10:44 PM

I will probably upgrade to the Americard when my account becomes 1 year old. It will be 1 year old this June. I will probably apply for the BofA AMEX in a year or two. Since I already have an AMEX right now, do you think it'll give me a good advantage in getting approved for the BofA AMEX?

**smcc** · August 26th, 2008, 06:40 PM

Since I have some "dings" on my Credit Report, It will be awhile for the American Express that I want. That said, there is the Bank of America Visa Signature which has no pre set spending limit and as close to an AMEX as BOA can get.

I know at one time Porgy was not very high on this card but I figured I would apply for it. Went into an office this morning and found out the bank has a "premiere" program that deals with customers with high net worth. One of the perks of this program is the Visa Signature Card. First of all, I am not one of those people but I have a good relationship with the bank.

What I was told is that if your a BOA customer, have a Platinum Plus Credit Card, and a perfect payment history they will upgrade you to a Visa Signature Card ! I have the BankAmericard but was told that they could not upgrade this card. The bank suggested that I apply for a Platinum Plus Card and once I receive this call in and immediately call in and ask for the upgrade. I applied in the office and got approved. The whole process will take 6 weeks.

I bring this up because hjm331 is a loyal BOA customer and he is trying to secure a better card. HJM331, I know you keep your cards payed on time and squared away, check into this card if it fits your fancy and have a Platinum Plus Card. If you don't, upgrade to the Platinum Plus and keep a good history with it for a year and there you are ! For everyone else who is a BOA customer something to think about, Its not an AMEX, but it offers many of the same advantages.