Advice on Fico Scoring - 95% AMEX

[mobiledynamics]

Hello All -

Todays Fico Score is 728 on ScoreWatch

This is based on 95% of my charges on my Amex Personal Gold Card.

On my MC, I generally average 1800 monthly on a 10K limit on my Mastercard.

I hardly ever use my Mastercard for anything.

My monthly average with Amex is about 12-15K.

Both bills are paid on time.

Since the Amex is not a revolving credit card but a *charge* card, I'm not sure how much a role it plays with my FICO scoring.

Should I decrease how much I use my Amex, apply for another visa/mc and use my visa/mc's more.

I have been using Amex for 12+ years now and I tend to use them as often as I do because the few times I've needed them to dispute a charge, they have always had my back ! Even charges past the typical 90 day window...

[takeshi74]

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@mobiledynamics wrote:

Todays Fico Score is 728 on ScoreWatch

This is based on 95% of my charges on my Amex Personal Gold Card.

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How did you determine that?

There are prior threads on charge cards and FICO scoring.  Here's one found with a quick Google search:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/How-exactly-do-charge-cards-impact-utiliz...

[mobiledynamics]

In googling, I did find that Amex reports highest balance as well as late/not paid months.

To clarify the OP, I have 3 cards. 2 Amex (bix, personal) and 1 MC.

95% of my charges are AMEX. It's my go to card. My average monthly charge with Amex is 13-15K .

I use my MC as well. My average charge is about $1500-$2K  on it.

Should I DECREASE how I use my my Amex, use more of my current MC, open up another mc/visa and use more of a credit card (versus my charge card amex)....

[OhioCPA]

To maximize your score, you are likely best off with only one card reporting a balance, and at least two reporting zero. That balance should be less than 10% of the credit line on that card. For this purpose Amex charge cards are tricky since they don't have hard limits. Since you only have two cards that report on your credit file, I would recommend opening at least one additional credit card. I would consider opening an Amex credit card. With your long history and level of monthly spend you likely will get a high limit. Any new Amex will also be backdated to the same date as your other personal Amex, which will help with AAoA.