How will my scores be affected by AMEX GOLD??

cabronsaim · ‎03-28-2012

What will happen to my scores when AMEX gold starts reporting? I have 3 CC's: BOFA for 1k, CITI for 2k and CAP1 for 1.75k. A mortgage and 2 older baddies. Scores in my sig. thanks. P.S. Would I benefit from adding a retail account? JCpenny is sending me pre-approvals. many thanks.

3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL

pizzadude · ‎01-28-2010

cabronsaim wrote:
What will happen to my scores when AMEX gold starts reporting? I have 3 CC's: BOFA for 1k, CITI for 2k and CAP1 for 1.75k. A mortgage and 2 older baddies. Scores in my sig. thanks. P.S. Would I benefit from adding a retail account? JCpenny is sending me pre-approvals. many thanks.

To answer your second question first, I don't think you'll gain anything by adding a store card.

Unless your AMEX is backdated then it will lower your AAoA once it starts reporting ~ how much depends on the age of your other accounts.

FICO won't count the balance of your AMEX in your utilization ( except for TU98 sold here at myFICO ).

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

Crashem · ‎01-26-2012

I think you get a little bump for adding a charge card to your mix of credit as well, but it is minor. The key thing will be how much your AAoA drops and how much it impacts FICO

Amex Plat, Amex BCP 8k->24k (5/23/12), Amex TE 15k, CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k (8/20/12), HSBC 15k, JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

cabronsaim · ‎03-28-2012

I see, my AAoA is 2 years 2 months.

I dont think thats gonna be to bad then right?

Crashem wrote:
I think you get a little bump for adding a charge card to your mix of credit as well, but it is minor. The key thing will be how much your AAoA drops and how much it impacts FICO

3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL

cabronsaim · ‎03-28-2012

pizzadude wrote:
cabronsaim wrote:
What will happen to my scores when AMEX gold starts reporting? I have 3 CC's: BOFA for 1k, CITI for 2k and CAP1 for 1.75k. A mortgage and 2 older baddies. Scores in my sig. thanks. P.S. Would I benefit from adding a retail account? JCpenny is sending me pre-approvals. many thanks.

To answer your second question first, I don't think you'll gain anything by adding a store card.

Unless your AMEX is backdated then it will lower your AAoA once it starts reporting ~ how much depends on the age of your other accounts.

FICO won't count the balance of your AMEX in your utilization ( except for TU98 sold here at myFICO ).

Great info, thanks!

3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL

Understanding FICO® Scoring

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