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Regular Contributor
xkaosx
Posts: 127
Registered: ‎05-13-2008
0

American Express AU

I was added as an AU on an AE card which was a gold now downgraded to a green.

Is this hurting my score or helping?

Been on it for about 6 months now.

 

TransUnion Experian Equifax
549 500 516 6/2008
TransUnion Experian Equifax
598 530 608 6/2009
TransUnion Experian Equifax
613 602 624 7/2009
New Contributor
chopperacn
Posts: 67
Registered: ‎06-05-2009
0

Re: American Express AU

You have to be more specific than that.Amex Gold and Green are charge cards with proxy limits.

They take your high balance as your Credit Limit.Gold or Green as long as you are near your high balance, your score will take a hit.

Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: American Express AU


chopperacn wrote:

You have to be more specific than that.Amex Gold and Green are charge cards with proxy limits.

They take your high balance as your Credit Limit.Gold or Green as long as you are near your high balance, your score will take a hit.


Wrong.

Amex charge cards do not count for util except in ancient versions of FICO.

As to the original question: A green and a gold should be scored the same (assuming the age and payment history remains)
Regular Contributor
xkaosx
Posts: 127
Registered: ‎05-13-2008
0

Re: American Express AU

Yea it was a Gold card and she downgraded it to a Green AE because of the fees. 

So would i be better leaving it on or taking it off?

Usually the balance on it is 3-7k and doesnt always get paid in full

 

TransUnion Experian Equifax
549 500 516 6/2008
TransUnion Experian Equifax
598 530 608 6/2009
TransUnion Experian Equifax
613 602 624 7/2009
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: American Express AU

Currently, EQ and EX are supposed to ignore AmEx charge card util for scoring purposes. The TU FICO available here (TU 98) does factor it in --out of curiosity, is your TU score lower than your EQ?

If you're not going for credit right away, and if the history on the AmEx-card-of-many-colors is helpful ( = squeaky clean and older than your AAoA), you might want to hang onto it. If you feel it's hurting you, you can come off of it later. Be advised that AmEx keeps stubbornly reporting AU cards even when you're off, and you'll probably have to dispute as "not mine" with the CRA's if there's anything on it that hurts you.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: American Express AU


xkaosx wrote:

Yea it was a Gold card and she downgraded it to a Green AE because of the fees. 

So would i be better leaving it on or taking it off?

Usually the balance on it is 3-7k and doesnt always get paid in full

 


It doesn't get paid in full because the primary is using sign and travel and revolving a balance?

If that is the case, I have heard of some cases where Amex has decided to report the account as revolving instead of Open.
Regular Contributor
CHARGE_IT
Posts: 193
Registered: ‎07-13-2008
0

Re: American Express AU

This can be true if you sign-up for the service where they automatically move charges of a certain amount over.

 

If you never sign-up for this and only use the extended pay option as desired, the ranking of the AE charge cards remains strictly a charge.

 

 

Additionally, the high balance on these charge cards is in no way factored into UTL. (an on going agreement here, to vehemently disagree....LOL)

 

Even if TU factors, it makes no since for me all these years as it is my very much higher score; all other things being equal. I go with those who have experience that shows it is not affecting score in anyway but positive.

 

CI

 


athensguy wrote:

xkaosx wrote:

Yea it was a Gold card and she downgraded it to a Green AE because of the fees. 

So would i be better leaving it on or taking it off?

Usually the balance on it is 3-7k and doesnt always get paid in full

 


It doesn't get paid in full because the primary is using sign and travel and revolving a balance?

If that is the case, I have heard of some cases where Amex has decided to report the account as revolving instead of Open.

 

 

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