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So if I let a balance report on Amex, will that give me the needed 1-9% utilization to maximize my FICO? Or like, does Amex even count? Or should I let the balance report on one of my other cards?
Discover is my oldest card, opened since 1999
I have JcPenny opened since 2003
Best Buy opened since 2008
Others were all opened in 2012
My total revolving credit limit is:
Revolving Credit Summary* | Revolving Credit Limit | $32,700.00 |
Length of History | Oldest Account | 12.8 Years | Average Account Age | 5.7 Years |
Account Types* | |
Real Estate Loans | 2 |
Installment Loans | 2 |
Revolving Credit Accounts | 6 |
Credit Cards | 4 |
Retail Cards | 2 |
Total Open Accounts | 10 |
Count of Records | |
Total Accounts | 39 |
Hard Inquiries | 11 |
Public Records | 1 This is a Judgment Dismissed, has been removed from EQ and TU, but not EX. Hoping to get removed using Rapid Rescore |
If it's a charge card, it won't count towards util. But a revolver card will count.
@xiownthisplacex wrote:If it's a charge card, it won't count towards util. But a revolver card will count.
+1 However letting any balance report including $1 on the AMEX Charge card will result in a small ding for having a card with a balance.
@xiownthisplacex wrote:If it's a charge card, it won't count towards util. But a revolver card will count.
+1
While it won't count toward utilization percentage the charge card will count toward the number of cards reporting a balance.
@OhioCPA wrote:
@xiownthisplacex wrote:If it's a charge card, it won't count towards util. But a revolver card will count.
+1
While it won't count toward utilization percentage the charge card will count toward the number of cards reporting a balance.
Ewww ok, so I need to let a balance report on one of the revolvers but not let the amex report a balance... That will be tough but I think I can do it. I can order a book from amazon on my Kindle and let a small balance report on my Chase card.
Thanks for the input ya'll
I'm planning on applying for a FHA Streamline Refinance on one of the real estate accounts and I want my file to look as yummy as possible so that I get the best rates.
@crashem .. I'm confused.
Is utilization reported based on the balance carried or the highest balance during the reporting period?
The reason I'm asking, currently I show a zero% utilization.. since apparently I had done the PIF on my card before the report pulled. NOW I have a balance on my BCE amex, and the website won't accept another payment ... so chances are I won't be able to PIF this one before the next report pulls. any ideas?
@codimom wrote:@Crashem .. I'm confused.
Is utilization reported based on the balance carried or the highest balance during the reporting period?
The reason I'm asking, currently I show a zero% utilization.. since apparently I had done the PIF on my card before the report pulled. NOW I have a balance on my BCE amex, and the website won't accept another payment ... so chances are I won't be able to PIF this one before the next report pulls. any ideas?
Set up BillPay from your bank's site and send payments through that.
AHA! okay, sounds like a plan. my other card I use frequently allows multiple online payments per month... (off I go to my bill pay site...) THANKS
Amex will only allow one payment during the first month that a bank account is added. You should be fine in the future.