Got app for Amex green...

[happyhome40]

Hi, new to the forum for posting but not reading. I've read so many of your posts and they've helped me alot during my cleanup period. Anywhooo, I was approved yesterday for the Amex green. I have a few questions about it now. I realize that it's a charge card and that it will not affect util and will not affect my credit score. I guess my question is, how will my score continue to improve with using this card? I know the balance has to be PIF but how is that reported if there is never a balance? Thank you guys in advance

[annielorie]

It helps your overall credit picture do you mind if I ask your credit profile CC lates derogs AAOA and scores??   Great News!!!!!!!!!!:

[annielorie]

Whatever you spend in a month is what is reported.

[Anonymous]

Charge cards will still report a current balance and high balance, but not a credit limit.  They will affect your credit score in every way a credit card would, except for utilization usually.  Although the TU score sold here will factor them into utilization using the high balance instead of credit limit.  But charge cards will affect your average age of accounts and will show positive payment history over time.

[espnjunkie]

This account will report as a positive tradeline on your credit reports/scores. AMEX gives you the ability to backdate as well if you open future amex cards. I'd recommend to have a visa/mastercard revolver for when merchants do not accept amex and let it report a small balance each month. Congrats! I really like my green card and it gives me the most spending power of any card I could get with under a year of credit history really.

[pizzadude]

Congrats on the AMEX Green approval !!   It will add to your AAoA and your payment history is factored in, so it most certainly can affect your credit score.   As others have stated the only difference between a charge card and any other revolving accounts is that the current balance won't be counted in your revolving utilization ( except for the TU98 FICO version ).

[happyhome40]

I haven't had a late payment in almost 4yrs. I have a few foreclosures on my report, which some are about to fall off in April. My TU is 695, EQ704, and Ex is 688. I have a kohls, visa, macys(my first 1989).

[afbar1114]

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@happyhome40 wrote:
I haven't had a late payment in almost 4yrs. I have a few foreclosures on my report, which some are about to fall off in April. My TU is 695, EQ704, and Ex is 688. I have a kohls, visa, macys(my first 1989).

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i would wait until the fall off...are any of the scores FICO?

[happyhome40]

Yep those are my fico scores except for the experian. I got that one directly from experian.

[afbar1114]

They should be fine..but i would wait untill they fall off its only s few more weeks