Amex "charge" card credit reporting and scoring considerations. [Consolidated] ?
Feb 19, 2017, 1:06 pm
#1
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Amex "charge" card credit reporting and scoring considerations. [Consolidated] ?
Do Amex charge cards (Green, PRG, etc) show up in a credit report? Since technically the entire amount is due by the due date, there is no "credit limit" and therefore it doesn't factor into "credit utilization" as wll.
Feb 20, 2017, 6:35 am
#2
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https://www.nerdwallet.com/blog/cred...-credit-score/
Feb 20, 2017, 2:13 pm
#4
Join Date: Jan 2010
Posts: 698
If you are seeking or mortgage or loan, you should probably shift your spend onto a true credit card and not charge card. Reason being that your minimum balance owed on a credit card will likely be $15-50 range plus required interest payment but if you are using a charge card it will factor in the entire statement balance as an outstanding debt.
Feb 21, 2017, 9:40 am
#5
Join Date: Sep 2015
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If you are seeking or mortgage or loan, you should probably shift your spend onto a true credit card and not charge card. Reason being that your minimum balance owed on a credit card will likely be $15-50 range plus required interest payment but if you are using a charge card it will factor in the entire statement balance as an outstanding debt.
Feb 21, 2017, 9:46 am
#6
Join Date: Jan 2010
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We switched all of our spending off of Amex for about 3 months prior to our refi because it showed up on our credit report as 100% utilization of the credit line because of the way it's reported. We usually carry a few thousand dollars at any time (always paid off) and it looked like we owed $5000 on a $5000 max card. Switched spending for a few months to a true credit card with a much higher limit so it only calculated us as using 10% of our available credit.
Mar 2, 2017, 1:27 pm
#7
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Mar 2, 2017, 7:07 pm
#8
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We switched all of our spending off of Amex for about 3 months prior to our refi because it showed up on our credit report as 100% utilization of the credit line because of the way it's reported. We usually carry a few thousand dollars at any time (always paid off) and it looked like we owed $5000 on a $5000 max card. Switched spending for a few months to a true credit card with a much higher limit so it only calculated us as using 10% of our available credit.
Mar 3, 2017, 11:19 am
#9
Join Date: Jan 2010
Posts: 698
What you owe on an Amex charge card is not calculated into your overall credit card utilization. It reports as a separate amount. What the poster above is referring to is how an Amex charge card is listed in the credit report. Apparently when applying for a mortgage, the bank might look at that more critically than the overall credit card utilization.
Dec 21, 2018, 5:44 pm
#12
Join Date: Dec 2018
Posts: 75
Do Charge cards affect average age of credit?
For your credit score, do charge cards affect your average age of credit when you open and close a card?
I tried googling this but only found articles saying it doesn't affect credit utilization.
Thanks
I tried googling this but only found articles saying it doesn't affect credit utilization.
Thanks
Dec 23, 2018, 1:58 am
#15
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