topic Re: AMEX Charge Showing up as revolving in Credit Cards

AMEX Charge Showing up as revolving

ArisGreek — Wed, 15 Dec 2010 17:54:57 GMT

Hi there,

My AMEX Zync is showing up as Revolving on Experian. Is this supposed to happen? It's also posting a high balance. Should it be saying something else??

Re: AMEX Charge Showing up as revolving

Anonymous — Wed, 15 Dec 2010 18:04:07 GMT

Nope, it is reporting correctly. If it reports a balance it will hurt your util even though it doesn't contribute in increasing your total available credit.

Re: AMEX Charge Showing up as revolving

ArisGreek — Wed, 15 Dec 2010 18:07:05 GMT

No it's just showing a high balance. And the credit limit is n/a since it's a charge. Okay. Thanks

Re: AMEX Charge Showing up as revolving

fused — Wed, 15 Dec 2010 18:09:56 GMT

On EX reports, all Amex charge cards should report the folowing:

Account type: Credit Card - Revolving Terms

Terms: 1 month

Do you see this?

Re: AMEX Charge Showing up as revolving

Anonymous — Wed, 15 Dec 2010 18:50:24 GMT

OP when did you first get your Zync?

How long does it generally take to show up on each credir report?

Got mine on like the 13th...still nothing for equifax?

Re: AMEX Charge Showing up as revolving

ArisGreek — Wed, 15 Dec 2010 19:35:19 GMT

Fused, yes I do see that. I have a High Balance of $2,610 and then it says Recent Balance of $2,610.

Re: AMEX Charge Showing up as revolving

ArisGreek — Wed, 15 Dec 2010 19:35:55 GMT

Jn,

It took 2 cycle to show up on mine. It shows up in "Other Accounts" though, not "Revolving Accounts".

Re: AMEX Charge Showing up as revolving

fused — Wed, 15 Dec 2010 19:43:19 GMT

@ArisGreek wrote:

Fused, yes I do see that. I have a High Balance of $2,610 and then it says Recent Balance of $2,610.

You're fine then. Your Zync card is not factoring in FICO revolving util calculations.

Re: AMEX Charge Showing up as revolving

ArisGreek — Wed, 15 Dec 2010 19:55:05 GMT

Rockin'! Thanks, Fused.

Re: AMEX Charge Showing up as revolving

Anonymous — Wed, 15 Dec 2010 20:01:16 GMT

When they are showing your "high balance" is that the highest reported to the credit agencies after the statement cuts..or the highest you have ever let your balance get even if you PIF before the statement cuts?

Re: AMEX Charge Showing up as revolving

fused — Wed, 15 Dec 2010 21:15:16 GMT

@ArisGreek wrote:

Rockin'! Thanks, Fused.

I should have been more clear. Your Zync card is not factoring in FICO revolving util calculations with EQ and EX. TU might be a diffrent story, tho. The TU score at this site is an older version, TU 98, and it DOES factor Amex cards in FICO revolving util calculations. The newer score version, TU 04, doesn't not factor Amex cards in FICO revolving util calculations. So, depending on which TU version a lender uses, Amex charge cards might factor in TU FICO revolving util calculations

Re: AMEX Charge Showing up as revolving

ArisGreek — Wed, 15 Dec 2010 21:24:05 GMT

I find that with my AMEX if I pay in full before close date it may not report as zero....that's the highest my statement has ever been...i try to pay in full before my statement cuts but it seems to be floating up to 5 days before statement cuts.

Re: AMEX Charge Showing up as revolving

haulingthescoreup — Thu, 16 Dec 2010 00:34:01 GMT

@fused wrote:
On EX reports, all Amex charge cards should report the folowing:

Account type: Credit Card - Revolving Terms
Terms: 1 month

Do you see this?

Glad you mentioned the "Terms: 1 month" part, because I always forget this.

Here's how my closed Gold card looks on EX. The "Terms: 1 Month" ("months??") is right under Type:

Re: AMEX Charge Showing up as revolving

haulingthescoreup — Thu, 16 Dec 2010 00:36:09 GMT

@Anonymous wrote:

When they are showing your "high balance" is that the highest reported to the credit agencies after the statement cuts..or the highest you have ever let your balance get even if you PIF before the statement cuts?

American Express reports the highest ever statement balance. Every other CC I've seen reports the highest balance as of any time during your billing cycle, even if you paid it off and it wound up reporting $0.

So my old AmEx Gold shows a highest balance of $64, even though it got way higher than that at times.

Re: AMEX Charge Showing up as revolving

ArisGreek — Thu, 16 Dec 2010 01:05:35 GMT

I've tried paying it the day before and 2 days before statement is scheduled to cut and it still seem to reports a balance even though no payment is due...It seems so weird :-/ I really can't figure it out. Maybe I should just call and ask.

Re: AMEX Charge Showing up as revolving

haulingthescoreup — Thu, 16 Dec 2010 02:01:27 GMT

@ArisGreek wrote:
I've tried paying it the day before and 2 days before statement is scheduled to cut and it still seem to reports a balance even though no payment is due...It seems so weird :-/ I really can't figure it out. Maybe I should just call and ask.

Well, the other odd thing that American Express does (although they're starting to change on some cards) is that they report the balance on your statement, but they don't send it in until four weeks later; in other words, 2-3 days before the next statement hits. In effect, this makes the balance displayed on your reports almost a month behind. It will look something like this (all dates invented for example's sake):

10/15 statement: $50 balance due

... <--time passes

(reports keep showing 9/15 balance, whatever that was)

11/12-ish: reports update to show $50 balance

11/15 statement: $100 balance due

...

(reports keep showing 10/15's $50 balance)

12/13-ish: reports update to show $100

12/15 statement: $0 due

...

(reports keep showing 11/15's $100 balance)

1/12-ish: reports update to show $0

1/15 statement: $500 due

...

(reports keep showing 12/15's $0 balance)

2/12-ish: reports update to show $500

2/15 statement: $0 due

(but your reports will continue to show $500 due for another four weeks or so)

This made me so crazy that American Express became the first card that I always paid before the statement date.

Re: AMEX Charge Showing up as revolving

Anonymous — Thu, 16 Dec 2010 02:02:08 GMT

Is that a bad thing...will that look bad to future creditors that it appears you don't use your card?

@haulingthescoreup wrote:

@Anonymous wrote:

When they are showing your "high balance" is that the highest reported to the credit agencies after the statement cuts..or the highest you have ever let your balance get even if you PIF before the statement cuts?

American Express reports the highest ever statement balance. Every other CC I've seen reports the highest balance as of any time during your billing cycle, even if you paid it off and it wound up reporting $0.

So my old AmEx Gold shows a highest balance of $64, even though it got way higher than that at times.

Re: AMEX Charge Showing up as revolving

haulingthescoreup — Thu, 16 Dec 2010 02:06:37 GMT

@Anonymous wrote:
Is that a bad thing...will that look bad to future creditors that it appears you don't use your card?
@haulingthescoreup wrote:
@Anonymous wrote:

When they are showing your "high balance" is that the highest reported to the credit agencies after the statement cuts..or the highest you have ever let your balance get even if you PIF before the statement cuts?
American Express reports the highest ever statement balance. Every other CC I've seen reports the highest balance as of any time during your billing cycle, even if you paid it off and it wound up reporting $0.

So my old AmEx Gold shows a highest balance of $64, even though it got way higher than that at times.

Eh, who knows???

Even if they notice it, there's a good chance that they're aware of this. It doesn't seem to have hurt me anywhere, with my whopping highest balance of $64. All my approvals since then have been for nice, big CL's, mostly because I like CU's!

What with so many instant approvals (and denials) these days, I doubt that very many lenders look at that.

If you ever find yourself seated across from a banker, sweating bullets as s/he examines your reports, you can mention AE's odd little quirk in this department.