Question about cards reporting a balance

[lhcole77]

From what I've learned here Amex PRG is not factored into UTL.

I'm wondering, though, is it factored as an account reporting a balance? For example, if a creditor says "There are too many accounts reporting a balance" is this considered as one of them if it has a balance?

If so, seems beneficial to pay this card before the statement cuts so that I can have another credit account reporting a $0 balance (to offset some of my student loans which are reporting balances).

[pizzadude]

---

@lhcole77 wrote:

From what I've learned here Amex PRG is not factored into UTL.

I'm wondering, though, is it factored as an account reporting a balance? For example, if a creditor says "There are too many accounts reporting a balance" is this considered as one of them if it has a balance?

If so, seems beneficial to pay this card before the statement cuts so that I can have another credit account reporting a $0 balance (to offset some of my student loans which are reporting balances).

---

Yes, it is factored into the "accounts with balances" however the balance itself is not included in your overall utilization.

I would't worry too much about it, as I believe this is a lesser impact to your FICO score.

Also the student loan accounts are installment loans which aren't scored in  the same way as revolving accounts.

[djc1puno]

+1

[lhcole77]

---

@pizzadude wrote:

---

@lhcole77 wrote:

From what I've learned here Amex PRG is not factored into UTL.

I'm wondering, though, is it factored as an account reporting a balance? For example, if a creditor says "There are too many accounts reporting a balance" is this considered as one of them if it has a balance?

If so, seems beneficial to pay this card before the statement cuts so that I can have another credit account reporting a $0 balance (to offset some of my student loans which are reporting balances).

---

Yes, it is factored into the "accounts with balances" however the balance itself is not included in your overall utilization.

I would't worry too much about it, as I believe this is a lesser impact to your FICO score.

Also the student loan accounts are installment loans which aren't scored in  the same way as revolving accounts.

---

Thank you for this reply!

This information is very helpful.

[lhcole77]

---

@pizzadude wrote:

---

---

Yes, it is factored into the "accounts with balances" however the balance itself is not included in your overall utilization.

I would't worry too much about it, as I believe this is a lesser impact to your FICO score.

Also the student loan accounts are installment loans which aren't scored in  the same way as revolving accounts.

---

Follow up question: Is there a suggested number of accounts one can have that report a balance?

For example, if somone has 14 TL does it benefit when only X number report?

[myjourney]

---

@lhcole77 wrote:

---

@pizzadude wrote:

---

---

Yes, it is factored into the "accounts with balances" however the balance itself is not included in your overall utilization.

I would't worry too much about it, as I believe this is a lesser impact to your FICO score.

Also the student loan accounts are installment loans which aren't scored in  the same way as revolving accounts.

---

Follow up question: Is there a suggested number of accounts one can have that report a balance?

For example, if somone has 14 TL does it benefit when only X number report?

---

Doesn't matter unless you are getting ready to app and then the golden rule of letting one card report 1-9% applies