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I have recently applied and got approved for Amex charge card (Green)... I got it for the sole purpose of using it as a leverage during those re-considiration phone calls to say pretty much "Hey look, I have unlimited card and I havent gone crazy with it"
I dont plan on using it much at all...
However, I have heard that Amex Charge Cards murder your credit score especially if you dont rack up big bills on them.
Now I am wondering whether I should not activate it when it comes through the mail
Doesn't matter if you don't activate it. It will still be reported to the CRAs.
@Kenro wrote:I have recently applied and got approved for Amex charge card (Green)... I got it for the sole purpose of using it as a leverage during those re-considiration phone calls to say pretty much "Hey look, I have unlimited card and I havent gone crazy with it"
I dont plan on using it much at all...
However, I have heard that Amex Charge Cards murder your credit score especially if you dont rack up big bills on them.
Now I am wondering whether I should not activate it when it comes through the mail
Amex charge card balances have no affect on EX or TU FICO scores. In my experience they do have an affect on EQ scores and use the high balance as a proxy for your CL. At least for overall utliization and for high balances that are less than somewhere between 40k and 50k. Over that they don't count for EQ either,
Amex reports the highest statement balance over the last 18 months.
Basically, Amex cards are useful for making large purchases than would be problematic for revolving cards.