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Amex Platinum Pay Over Time Question?

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Community Leader
Senior Contributor

Re: Amex Platinum Pay Over Time Question?


@MrDisco99 wrote:

Sounds to me like that guy needed some training.  It's not hard to tell the difference between a charge card and a maxed out revolver.


@MrDisco99 I it was his lack of knowledge but moreso the software that PenFed uses that even presents the information that way.  I've looked at my personal credit report and it never reports in the manner in which he was describing so I'm guessing that again, it was their software that is presenting charge cards in such a negative way.

Message 11 of 14
Community Leader
Senior Contributor

Re: Amex Platinum Pay Over Time Question?

@Loquat, it's very possible that PenFed was looking at your charge card the same way that the aforementioned ancient FICO scores do. In the case of Experian FICO 98, the card's highest balance is used as the card's "limit."

 

Until a year or two ago when PenFed switched to FICO 9, they were using the ancient 1996 Equifax Beacon model. It's possible that that model addressed charge card utilization the same way as Experian 98. It's also possible that PenFed's internal underwriting policies still address charge card "utilization" that way.

Message 12 of 14
Valued Contributor

Re: Amex Platinum Pay Over Time Question?


@HeavenOhio wrote:

@Loquat, it's very possible that PenFed was looking at your charge card the same way that the aforementioned ancient FICO scores do. In the case of Experian FICO 98, the card's highest balance is used as the card's "limit."

 

Until a year or two ago when PenFed switched to FICO 9, they were using the ancient 1996 Equifax Beacon model. It's possible that that model addressed charge card utilization the same way as Experian 98. It's also possible that PenFed's internal underwriting policies still address charge card "utilization" that way.


So you mean to tell me that I ran a $10K charge through my PRG for no reason? lol

 

It does seem odd that an UW didn't know how a Charge card works. 

Message 13 of 14
Frequent Contributor

Re: Amex Platinum Pay Over Time Question?

AMEX does not: 1) report any kind of separation of the POT portion of your account from the non-POT portion; 2) report POT charge cards as having a limit, although you know "internally" that you have a $35K POT limit. Thus, it will not show any kind of utilization %, as with a credit card. However, AMEX will report whatever balance remains at statement close. 



Current Scores Jul 2019 – FICO 8
Message 14 of 14
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