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How does an AMEX Charge card -- say the Green or Gold card -- count towards UTIL ? Yes, I realize it is supposed to be a PIF card monthly, but if a balance reports, does it count as a 100% maxed out card, or is it viewed differenlty in terms of UTIL ??
In times of yore, FICO used the highest reported balance for the CL. Now FICO doesn't count them in your util. They are a good place to let high balances report (assuming PIF). Only time I would worry about the balance is if you are looking for a mortgage or other loan where DTI comes into play.
I am sure others can provide better insights.
ETA: They still count for number of cards with balance and for your AAoA.
I always wondered how Sign and Pay worked on your CR (I.E when Amex allows you to carry a balance on a charge card for a purchase/purchases)
i think amex charge cards factor into UTIL on credit karma but I could be wrong. My balances are constantly changing I don't even notice anymore.
I do know with the legit fico 08 it does not factor into UTIL.
And yes, it used to be visa signature and other cards with no preset spending limit could be terrible for credit. But times have changed thankfully.
Amex charge card is excluded from FICO8 util calculation on Experian and Transunion reports. On Equifax report it's not excluded and high balance is used as the limit .
No wonder my Equifax is so much lower than the others. Lately that has been the only card I use, and I have it on auto pay and the balance always reports. Oh well
@Anonymous wrote:Amex charge card is excluded from FICO8 util calculation on Experian and Transunion reports. On Equifax report it's not excluded and high balance is used as the limit .
on fico 08, not vantage 3.0????
What about WMC, WEMC, Visa Sig/Infinite that have NPSL? Probably amex onlly?
Yes, on FICO 8. I'm not sure about others but assuming they report exactly the same as Amex the effect will be the same.