Credit Card Center Advertiser Disclosure†
03-20-2009 11:00 AM
03-20-2009 03:19 PM
yes it is an American Airlines AMEX ... I KNOW I need to pay it down, but am trying to refi and need as good a FICO as possible, so I figure I should get my other cards down to 9% Util before tackling this one. I have it down to about 82% Util right now, and my others down to 30-40%. Fingers crossed that I won't get CLD in the next month or so though!
thanks for the answer!
03-20-2009 03:20 PM
So CHARGE accounts don't figure into FICO as part of utilization?
How do they score them, by the amount you owe?
03-20-2009 03:25 PM
oh it's not a charge card, your revolving 5k... omg no, that is in your util.
and when you start to pay it, amex is going to CLD.... I would not suggest revolving ANY debt with amex.
03-20-2009 04:12 PM
The wording "Revolving" appears on my credit reports for all normal credit cards. I no longer have any Amex CHARGE cards that must be paid if full each month so I don't know how that appears. Is that what you actually mean. If so they don't have a CL (from what I've heard).
Anything that lets you carry a balance should have a Credit Limit that shows on the card. Add up your "Revolving account balances and see if it is included. If it isn't showing a CL then something is missing.
You never said anything about having a balance, right?
03-21-2009 10:28 AM - edited 03-21-2009 10:29 AM
03-21-2009 07:32 PM
That is different than anything I have heard of. My only experience with anything similar was that Cap One didn't report the CL correctly (for all customers). I can't recall if they reported the highest recent balance or the current balance giving you 100% utilization on that card. This affected utilization and they eventually changed to the "normal" system where they report the true CL.
I would THINK that the utilization is simply the total of your revolving balances divided by the total of your credit limits. So if it is reporting as zero that is affecting your utilization. I would not want to guess whether it adds the balance to the total of your CL or is actually added as zero.
03-21-2009 07:49 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.