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Does a "charge" card hurt your score?

New Visitor

Does a "charge" card hurt your score?

I just pulled my fico score (trans union) for the first time. Thankfully I am semi-pleased with the results :-). The only thing that concerns me is my charge card. It's an American Express green and I use it for almost everything. Therefore I usually have a high balance at the end of the month, anywhere from $1K - $4K. Now as this is a charge card I pay it off in a full at the due date. Is the fact that it's reporting such a high balance going to hurt my score?

Message 1 of 5
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Epic Contributor

Re: Does a "charge" card hurt your score?

 


alana20 wrote:

I just pulled my fico score (trans union) for the first time. Thankfully I am semi-pleased with the results :-). The only thing that concerns me is my charge card. It's an American Express green and I use it for almost everything. Therefore I usually have a high balance at the end of the month, anywhere from $1K - $4K. Now as this is a charge card I pay it off in a full at the due date. Is the fact that it's reporting such a high balance going to hurt my score?


No, only TU messes this up sometimes, but usually not an issue.

 

Message 2 of 5
Valued Contributor

Re: Does a "charge" card hurt your score?

I'm probably wrong, like usual, but I don't think true "charge cards" factor into your utilization.  So, to answer your question, no.  It's "no preset spending limit" revolving CCs that hurt your utilization.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Message 3 of 5
New Visitor

Re: Does a "charge" card hurt your score?

Well I certainly don't have any of those CCs lol! :-).

Message 4 of 5
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Established Contributor

Re: Does a "charge" card hurt your score?

My TU does count my Amex charge in "number of accounts with balances". Moreover, my balances across all revolving accounts also factors-in my Amex charge balance. Geez, I'm getting tired of this scoring crap....

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