American Express ... hurting or ???

Anonymous · ‎02-16-2011

We've got an American Express charge card ... you know, the kind you pay off at the end of every month.

We usually run a couyple thousand dollars on it throughout the month, then pay it off.

Does this hurt our credit? Does it look like a maxed card, since there's no traditional "limit"?

IOBA · ‎02-16-2011

On my CR, Amex reports the highest ever balance. Since that was a one time deal, it doesn't hurt now.

*edited to correct spelling

AndySoCal · ‎02-16-2011

Since this is a charge card where you pay the balance in full each month it will not be included in your credit utilization.

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cdtotten · ‎02-17-2011

Andy is partially correct.

Different scoring models treat charge cards differently. Some versions do factor in your month end balance, using your highest reported balance as the limit. Other models disregard charge card balances in total.

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AndySoCal · ‎02-17-2011

cdcotton,

please read the article in the link below

http://www.foxbusiness.com/personal-finance/2010/08/31/charge-card-balances-wont-impact-fico-credit-...

FICO Scores XPN v8 802 V2 831 (SDFCU) TUC 803 v8 EFX 807 (10/2023)
Discover 09/90 19,000, JCPenney 10/2008 4,700 US Bank Cash 12,000 Citibank Custom Cash 5/2015 11,100 State Dept. FCU 15,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 Banking: Ally Bank Credit Unions: Lafayette FCU Fortera FCU State Department FCU Pelican CU

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