@Anonymous wrote:
So, I have been fortunate to see quite a few boosts in my scores VERY much in thanks to all the posts on here. Big thanks to all of you who contribute your knowledge to this forum, it has been so useful for me.
I know fairly well how to use my Costco AMEX but I now have a Gold charge card and am curious as to how I should use this one.
The rep at Amex told me that my current limit is $2,500 but that there is technically no pre-set limit. In order to increase that limit but also maximize my FICO score gain, how should I use this card? I have seen many people I know use it everyday for all purchases really but, I'm unsure how I should approach this.
Any tips or insight would be greatly appreciated. Thanks!
You use it for what you need. Its a charge card. There really isn't any sort of trick with this. They bill you and then you have to PIF each cycle. The more you use it the more credit they will free up to you on a charge card, but this won't do anything with your credit score. The only thing you need to worry about is PIF by due date. Other than that use it as little or as much as you want. I do not think the balance reported on a charge card counts towards your overall util (I could be wrong on this), so you can kind of use this to manage your util instead of revolvers where you need to pay before the statement cuts. Why did you get a charge card when you already had an amex revolver? Did you want the signup offer?
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@Anonymous wrote:
Ok that makes sense.
And, the reason I got the charge card is because the Amex revolver is the only credit card I have and have ever had (I'm 24). I have a $500 CL on it and have it just to raise my credit score. I have a 15% utilization on it on average and PIF when every statement comes.
There was no signup offer for the charge card, I got it because I want that to be my daily go-to card so I can earn MR points on the things I buy anyway and use it toward a vacation, statement credits (basically free money) and whatever else.
Don't be afraid to run that card to $495 balance, as long as you are within the CL AMEX will be very happy with your usage. PIF by statement due date is a good way to go, or you can pay more frequently if you have the means and want to run more spend through it. I used my Delta AMEX card up to nearly the $2,000 limit while PIF and AMEX boosted the CL with an automatic CLI to $3,000 without my asking.
Do a search here about the AMEX 3X CLI. That is available after 61+ days since the card was opened, and there are certain timing and amounts to watch. There is an entire ongoing thread explaining and discussing the 3X CLI. You can request a CLI with a SP, it rocks.
Is it a regular gold, or premier rewards gold?
If it's a regular gold, then dont use it an get the everyday or everyday preferred card, because the regular gold card is just a green charge in a different color with a more expensive AF. 
Seriously though.
If it's a PRG use it for the bonus categories. 
Getting 1 point per dollar, even with how valuable some people find MR points to be, is a pretty standard return, nothing exceptional.
That is how to use it in terms of rewards
In terms of actual credit usage, run as much through it as you care to, it doesn't count towards utilization. Just make sure you got enough to pay it off (in full) every month.
Congrats on the approval though.
