A couple Amex questions

[spudbro]

So I am trying to figure out how to maximize my scores for an upcoming home purchase and after that CLI increases on my Chase Cards. I know from reading the boards the best way to maximize scores is to keep all but one of your cards reporting a $0 balance and the 1 reporting a balance between 1-9% of your overall utilization.

So my question is I have an Amex Platinum with NPSL and I have no idea how that is factored into my utilization. There is no credit limit reported because it is NPSL, but on my credit report is states Open Account and the balance reports against my revolving credit.

My second question is my statement cut off date is tomorrow for my Amex and I have several large purchases this month due to moving into a new home. Should I let the statement post with this high balance and then pay it off so when I go to request a CLI on my chase cards they see this? Or will it not make a difference? The balance reporting will be 4x higher then my current credit limits with Chase.

Any advice appreciated!

[OhioCPA]

Since your Amex has a NPSL, it won't impact utilization. It might impact your score a little by reporting a balance. There is a ding if more than half of your open accounts have a balance. Some people see a score increase with just one card reporting a balance.

Only Chase knows what they consider, but I would think that letting the balance report might help. I doubt it will hurt.

Why all the large purchases if you are trying to close on a house? Doesn't that put the potential loan at risk?

[spudbro]

 According to myFico credit report my amex balance is counting against my revolving credit lines. So your saying that just because it is factored into my revolving credit it doesn't factor in my utilization? Sorry just trying to understand.

[OhioCPA]

If you are looking at your TU score from here, yes it is factored into utilization. I thought you were talking about what the banks will look at, and they won't be pulling the same score model. The TU model here will measure the current balance against your highest reported balance.

[spudbro]

That makes sense. I am actually looking at my EQ score from here and it is factoring it into the utilization it seems. Does it make a difference if its from TU or EQ?

[OhioCPA]

From what I understand, the EQ here does not factor NPSL into utilization. I just took a look at two of my EQ reports here, on one of them my NPSL Amex was at 50% of the high balance. It didn't seem to factor into my score nor did it seem to impact the notation on page two of the report under "Ratio of your revolving balances to your credit limits".

[spudbro]

This is from my EQ report on here.

Pay Down the Balances on All Your Credit Cards

See how your FICO® Score may change if you pay down the balances on all your Revolving/Open Accounts, including:

• Credit cards
• Department store cards
• Oil company cards
• Open lines of credit

You currently have a combined Revolving/Open Account balance of $6,586.00.

6,200 of that is my AMEX Card.

[OhioCPA]

I would say it falls under the /open part, not revolving.

[youngandcreditwrthy]

...the reason I don't like charge cards, except maybe Amex Plat! Haha