Programs: AA 2MM Perpetual Platinum; HH Gold, SPG Gold; All Major Credit Cards
Posts: 5,162
Quote:
Originally Posted by SirWilliam
I have a DC card...
Ah, then I understand why Merrill+ is extraneous, unless you would spend $50,000 to reach Level +2 and claim an airline club membership. I still wouldn't be in a hurry to close it because the card is refreshed each January. Who knows, they might actually improve it this year .
Ah, then I understand why Merrill+ is extraneous, unless you would spend $50,000 to reach Level +2 and claim an airline club membership. I still wouldn't be in a hurry to close it because the card is refreshed each January. Who knows, they might actually improve it this year .
It is my understanding that they removed the airline club membership.
Unlike Diners, American Express does report personal charge cards. No limit will be reported, but the closing balance will show as a liability. This will have some adverse affect on the credit utilization component of the score, but some credit bureaux will use your highest reported balance as if it were a limit.
I don't think there is any way to precisely calculate the affect on your FICO score, but unless you are applying for a mortgage soon I wouldn't give this much weight.
The Chase BA VISA card is a VISA Signature product, and it will be reported in the same way because there is "no preset limit".
Not exactly correct. Charge cards are no included in utilization for FICO purposes.
How about this100,000 mile credit card offer from British Air? Plus earn 2.5 BA Miles for every $1 spent on British Airways flights, land products and vacation packages, arn 1.25 BA Miles for every $1 spent on everyday purchases. See this flyertalk discussion.
Programs: AA 2MM Perpetual Platinum; HH Gold, SPG Gold; All Major Credit Cards
Posts: 5,162
Quote:
Originally Posted by Dr_wanderlust
Charge cards are no included in utilization for FICO purposes.
Thank you, I see this has changed. Current FICO scoring models exclude charge cards or other accounts listed as open from the utilization, even though previous versions did include them.
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