topic Better to use AMEX charge or revolver? in Credit Cards

Better to use AMEX charge or revolver?

Anonymous — Tue, 18 Mar 2014 17:34:14 GMT

Assuming I pay in full every month, would it be more beneficial to use my charge card or revolver in terms of a.) relationship with AMEX(CLI, new cards) and b.) credit score?

I'm not too worried about the rewards because I mainly use my CSP for purchases but my AMEX Delta is $1000 limit so I still put about $500/month on that. I haven't done my CLI yet but I plan to do it soon.

Re: Better to use AMEX charge or revolver?

Creditaddict — Tue, 18 Mar 2014 18:47:57 GMT

@Anonymous wrote:
Assuming I pay in full every month, would it be more beneficial to use my charge card or revolver in terms of a.) relationship with AMEX(CLI, new cards) and b.) credit score?

I'm not too worried about the rewards because I mainly use my CSP for purchases but my AMEX Delta is $1000 limit so I still put about $500/month on that. I haven't done my CLI yet but I plan to do it soon.

I don't think it matters, amex keeps track of it all!

you coming up on 61 day cli?

Re: Better to use AMEX charge or revolver?

Anonymous — Tue, 18 Mar 2014 20:32:14 GMT

As far as scoring goes, charge cards and revolvers are handled differently for utilization purposes.

If you have a revolver and let a balance like 500/1000 report, that will hurt your utilization.

There are a bunch of threads around here on this topic.

Re: Better to use AMEX charge or revolver?

Anonymous — Tue, 18 Mar 2014 23:29:07 GMT

I pay in full so my statement will show current charges to be say $500 with $50 min payment or something. But I put around $2000 of a $1000 limit on CSP and $0 of $1800 on capital one secured. So if I let $500 of $1000 on AMEX report will it negatively affect utilization for using 50% of limit on a single card?

I also put about $30k/month on a Amex gold charge card.

I'm past my 60 days, wanted to show a bit more activity since my fico is just 662.

Re: Better to use AMEX charge or revolver?

Creditaddict — Tue, 18 Mar 2014 23:31:55 GMT

@Anonymous wrote:
I pay in full so my statement will show current charges to be say $500 with $50 min payment or something. But I put around $2000 of a $1000 limit on CSP and $0 of $1800 on capital one secured. So if I let $500 of $1000 on AMEX report will it negatively affect utilization for using 50% of limit on a single card?

I also put about $30k/month on a Amex gold charge card.

I'm past my 60 days, wanted to show a bit more activity since my fico is just 662.

yes the 50% util is a negative... I wouldn't wait especially if you are putting that much through the gold charge... amex internal scoring is probably higher for you.

Re: Better to use AMEX charge or revolver?

-NewGuy- — Tue, 18 Mar 2014 23:36:24 GMT

@Creditaddict wrote:
@Anonymous wrote:
I pay in full so my statement will show current charges to be say $500 with $50 min payment or something. But I put around $2000 of a $1000 limit on CSP and $0 of $1800 on capital one secured. So if I let $500 of $1000 on AMEX report will it negatively affect utilization for using 50% of limit on a single card?

I also put about $30k/month on a Amex gold charge card.

I'm past my 60 days, wanted to show a bit more activity since my fico is just 662.
yes the 50% util is a negative... I wouldn't wait especially if you are putting that much through the gold charge... amex internal scoring is probably higher for you.

Perhaps I am misunderstanding, but you can't have a 1k limit on CSP.

Re: Better to use AMEX charge or revolver?

red259 — Wed, 19 Mar 2014 00:05:10 GMT

@msf12555 wrote:
@Creditaddict wrote:
@Anonymous wrote:
I pay in full so my statement will show current charges to be say $500 with $50 min payment or something. But I put around $2000 of a $1000 limit on CSP and $0 of $1800 on capital one secured. So if I let $500 of $1000 on AMEX report will it negatively affect utilization for using 50% of limit on a single card?

I also put about $30k/month on a Amex gold charge card.

I'm past my 60 days, wanted to show a bit more activity since my fico is just 662.
yes the 50% util is a negative... I wouldn't wait especially if you are putting that much through the gold charge... amex internal scoring is probably higher for you.
Perhaps I am misunderstanding, but you can't have a 1k limit on CSP.

I was thinking that the CSP limit may be 10k and the 1k is just a typo. The 30k/month on amex gold when carrying a secured card is a bit harder to understand. Is it reimbursements from work?

Re: Better to use AMEX charge or revolver?

Anonymous — Wed, 19 Mar 2014 03:44:57 GMT

Sorry, CSP is $10,000 limit.

THe $30k/month spend on the gold is a business gold so I did link it with my EIN number. I am a shareholder of the business and I am the primary account holder. Will that help my internal scores for CLI and new cards and such? Thanks for all the help.

Re: Better to use AMEX charge or revolver?

Creditaddict — Wed, 19 Mar 2014 03:58:00 GMT

@Anonymous wrote:
Sorry, CSP is $10,000 limit.

THe $30k/month spend on the gold is a business gold so I did link it with my EIN number. I am a shareholder of the business and I am the primary account holder. Will that help my internal scores for CLI and new cards and such? Thanks for all the help.

Yes very since your primary