topic Re: AMEX AM IN!!!!! in Understanding FICO® Scoring

AMEX AM IN!!!!!

koky — Thu, 25 Apr 2013 18:13:21 GMT

AMERICAN EXPRESS

PO Box 981537
El Paso, TX 79998-1537
(800) 874-2717

Account Number:		Current Status:	PAYS AS AGREED
Account Owner:	Authorized User	High Credit:	$2,198
Type of Account :	Open	Credit Limit:	$10,000
Terms Duration:		Terms Frequency:
Date Opened:	04/16/2013	Balance:	$288
Date Reported:	04/22/2013	Amount Past Due:	$0
Date of Last Payment:		Actual Payment Amount:	$0
Scheduled Payment Amount:	$0	Date of Last Activity:	04/2013
Date Major Delinquency First Reported:		Months Reviewed:	N/A
Creditor Classification:		Activity Description:	N/A
Charge Off Amount:	$0	Deferred Payment Start Date:
Balloon Payment Amount:	$0	Balloon Payment Date:
Date Closed:		Type of Loan:
Date of First Delinquency:	N/A
Comments:

so finally my girlfriend added me on her AMEX as an AU. MY QUESTION IS WITH A BALANCE LIKE THIS, IS THIS GOING TO HELP MY SCORE...

Re: AMEX AM IN!!!!!

Anonymous — Thu, 25 Apr 2013 18:37:00 GMT

A $288 balance on a $10k limit? Yeah... that's going to help! (Assuming AmEx reports AUs... I don't know if they do or if they don't...)

Re: AMEX AM IN!!!!!

myjourney — Thu, 25 Apr 2013 18:42:28 GMT

Yes it will help a great account to be an AU on

Re: AMEX AM IN!!!!!

koky — Thu, 25 Apr 2013 18:53:41 GMT

Funny thing is I have SW and I havent gotten any alert from them...

Re: AMEX AM IN!!!!!

llecs — Thu, 25 Apr 2013 19:14:22 GMT

How will this CC impact your util? If your overall util is above 3%, then this would help. If less, then it could hurt. But it's all relative since you may or may not have $10k in combined CLs on your other accts.

If you don't have any revolving TLs or only one or two, then this will help.

This will hurt AAoA since it's new, but it depends by how much it drops. You also will have the new account ding.

I say if your util w/out this CC is close to 0%, then you might see a FICO drop but that drop will fade over time and w/in a year you'll be good to go. If util is greatly improved by adding this then the gain from that is dependent on the before and after util.

If your target score is EXACTLY set to your current score and if this new TL impacts your FICO (may or may not), then you'll get alerted within 7-10 days based if your new FICO hits or surpasses the target. I really don't know if you'd get an alert for a new acct. It's not a new acct. It has an open date from a week or so ago. I'm not so certain that SW picks up back-dated TLs like this because it's not technically new.

Re: AMEX AM IN!!!!!

koky — Thu, 25 Apr 2013 19:24:27 GMT

I have a TD Card that reports 10th of Every month and a new WF card that will report on the 4th of next month... I don't know if its smart to apply for a new card...

Re: AMEX AM IN!!!!!

koky — Thu, 25 Apr 2013 19:48:18 GMT

@llecs when talking about utilization, are we talking about the overall utilization of all cards that helps build credit or utilization on each card that help builds credit???

Re: AMEX AM IN!!!!!

llecs — Thu, 25 Apr 2013 19:54:51 GMT

@koky wrote:
@llecs when talking about utilization, are we talking about the overall utilization of all cards that helps build credit or utilization on each card that help builds credit???

FICO looks at both, but I was referring to overall. You don't have enough info posted to determine util (and you really could eyeball it yourself without getting into the nitty gritty). But in keeping my math simple for simpleton sake, let's say you have a combined limit of $10k across several cards and have a balance under $100 across all of them. Adding this 2.8% utilized CC into the fold would increase util and thus ptentially decrease your FICO, albeit minor. Conversely, if you have $6000 across these same CCs on $10k in limits, then you are reducing your overall util by approx. half, down to 30%. That would produce a decent score increase. I was just pointing out that the score change could be variable based on improvements/non-improvements to your overall util.

Re: AMEX AM IN!!!!!

koky — Thu, 25 Apr 2013 20:43:30 GMT

@ llecs...Ok... I have a TD bank Cc with 500 CL and WF CC with 350 CL, and plus the Just added AU account... What will be you best Advice on how much to keep on each account...

Re: AMEX AM IN!!!!!

llecs — Thu, 25 Apr 2013 20:51:48 GMT

Get all CCs to report $0 except for one and get the one to report under 9% of the CL.

Re: AMEX AM IN!!!!!

koky — Thu, 25 Apr 2013 23:19:09 GMT

Thanks llecs

Re: AMEX AM IN!!!!!

Anonymous — Wed, 03 Jul 2013 19:25:39 GMT

Question: I was added to my friends AMEX account as an AU about 3 months ago. It never showed up. I've given up now and asked her to add me to her CapOne card but I still don't understand why it never showed up on my credit report. Anyone know why?

Re: AMEX AM IN!!!!!

HiLine — Thu, 04 Jul 2013 01:40:34 GMT

Did they ask for an SSN?