02-02-2013 04:02 PM
what does it mean by a charge card? how different is it from a revolver?
The balance on a charge card must be paid in full every month; on a revolver, you must pay at least a minimum amount each month, but you can carry a balance over from one month to the next.
Oh ok Thx. so I dont see any advantage of a charge card. right?
02-02-2013 06:29 PM
The balance that is reported to the CRAs on a charge card is not factored into your utilization percentage so it will help to keep your scores up a bit. You still have a month to pay the charge card off after your statement cuts.
07-14-2013 03:56 PM
I know this is an old thread but does it mean anything if amex tells you in the denial letter that you are welcome to apply for one of their other cards or is that standard? A friend of mine applied for a revolver from Amex and was denied. I don't know his specific credit profile details but in the denial letter it said he was welcome to apply for one of their other cards but just to wait 30 days before he does. I reccomended Amex green if he wants an Amex because from everything I've read here it seems like that one is believed to be the "easiest" to get.
07-15-2013 07:52 AM
I really like your layout of your signature, how did you manage to do that? Is it something that I can copy/paste somewhere? Thanks.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO