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New Visitor
Posts: 9
Registered: ‎03-03-2011
0

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?

Epic Contributor
Posts: 25,839
Registered: ‎10-23-2007
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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.

 

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
Valued Contributor
Posts: 1,157
Registered: ‎05-21-2008
0

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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New Visitor
Posts: 9
Registered: ‎03-03-2011
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Re: Does a "charge" card hurt your score?

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

Established Contributor
Posts: 536
Registered: ‎03-17-2010
0

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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