Amex Revolving or not???

[Anonymous]

Every time I look at MyFico reports 'summaries' they include my current Amex balance and if I run the 'utilization' #s seem to also use the high-balance.  Is that just MyFico being inaccurate, i.e. does the real MyFico discount the Amex for useaga?

[haulingthescoreup]

Are you talking about AmEx charge cards? There's a lot of discussion on this.

I had been told that this only happens with the TU version in use here, but I've been told (loudly) that either the others do it to, or that none of them do it, and I'm dreaming.

I've pretty well given up on it, but all you have to do is run an advanced search on amex charge util or some such, and you'll be flooded with info.

[Anonymous]

I've given up too, I PIF my Plat before it's closing date, just to avoid any headaches (I try to do the same on my Gold Delta Skymiles when I can, just because AMEX lags so badly when reporting to the CRAs).

[Anonymous]

I have only let American Express report a balance one time since I have been with them over the past year.  My Gold Card reported a balance of 2097.00 and it took those SOBS two and half months to report my balance back to zero dollars.  I let the Blue report of balance of 1051.00 and it quickly reported the balance of zero dollars within a month.

My advice would be to let it report a balance one time and then pay in full every month before the billing cycle arrives.  The one thing that I can tell you is that I got a nice score jump when my Gold went back to zero.

A lot of people might not do it my way when it comes to credit, but I like to get a card near the max and pay it down half way and then close to zero.  I like creditors to see that I can have a 6000.00 credit card bill and pay it off versus seeing a high balance of 400.00 dollars on a 10000.00 credit card.

Show them you know how to use it in a responsible fashion!  Oh and as for the question it seems that it did hurt my util, however, on the other side of the coin I got a credit score boost for some odd reason.

Good Luck--TheTaxMan

[Anonymous]

Amex util is only counted if bal over $30k, otherwise it's by effective balances only.

Total Revolving Balances               (Amex balance will show up here)

------------------------------------

Total Credit Lines                          (But not here)

So your util will be higher with Amex with a balance since they can't count the credit line.

This is per FICO supervisor.

-Leggo