Amex charge card, what does it do 2 utilization

[Anonymous]

how does this effect Scores when there is technically no reported CL? 

[Creditaddict]

I believe, it's reported as a charge vs revolving, so fico does not count the util in calculations.

[Anonymous]

so how does it benefit you besides PIF? if there is no utilization?

[Creditaddict]

Good question! lol I forget

[SCF]

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@Anonymous wrote:
so how does it benefit you besides PIF? if there is no utilization?

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It is another good TL with on-time payments, and it affects your AAoA.  Because it does not count in your utilization, you don't need to worry about paying it before your statement posts to keep it from negatively affecting your score.

[Anonymous]

 mine has been hurting my TU scores. it is not being  factored into my utility on EX and EQ but it is on TU which explains why my TU scores are always the lowest about 25 to 30 pts difference.

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@Anonymous wrote:
how does this effect Scores when there is technically no reported CL? 

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[CHARGE_IT]

The use of charge cards helps tremendously in the management of expenditures through the month while not requiring one to have to juggle the utilization of the rest of your accounts. For many years now I have always used my charge cards for major monthly bills and expenses such as gas, meds, and groceries. In this way the usage of credit in revolving accounts sees good use but not enough to cause issues with utility.

This has proven itself for me with scores just under 800 and I don't play any of the statement drop games. Of course it does mean paying a lot of monthly expenses in total each month, but that has taught me discipline , while raising my scores.

This may read clear as mud , but I hope you get it.

CI

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@Anonymous wrote:
so how does it benefit you besides PIF? if there is no utilization?

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[CHARGE_IT]

I hope you can get that worked out. TU has gone from my lowest to highest score over the past year and a half. They do report my Amex CHARGE and revolving correctly so I can't imagine what the problem for you would be, but since they are correct for me I lean toward thinking it is a TU issue and not Amex.

Good luck and do push the issue . If mine is correct , I'm sure many are and many are not, so give them a push, they have no excuse to be inaccurate. Of course that sounds easy but we both know they will try to pass the buck.

CI

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@Anonymous wrote:

 mine has been hurting my TU scores. it is not being  factored into my utility on EX and EQ but it is on TU which explains why my TU scores are always the lowest about 25 to 30 pts difference.

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@Anonymous wrote:
how does this effect Scores when there is technically no reported CL? 

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[haulingthescoreup]

Most (not all) of our members have found that EQ and EX ignore AmEx charge cards, but that TU factors them in, using highest ever reported balance as the CL.

myFICO supplies scores generated by the most popular versions currently used by lenders. The version of TU being used here is TU 98. It should be transitioning over to TU 04 soon, once TransUnion gets their thing going. The '04 formula ignores charge cards, the same way that EQ and EX already do.

[Anonymous]

 how did you get them to report it correctly? i have fought for so many months - i even got amex to do a manual update for me but TU won't do anything about it. transunion refuses to investigate.

the last letter i received from them, told me they consider the dispute frivoulous and will no longer look into the issue.  

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@CHARGE_IT wrote:

I hope you can get that worked out. TU has gone from my lowest to highest score over the past year and a half. They do report my Amex CHARGE and revolving correctly so I can't imagine what the problem for you would be, but since they are correct for me I lean toward thinking it is a TU issue and not Amex.

Good luck and do push the issue . If mine is correct , I'm sure many are and many are not, so give them a push, they have no excuse to be inaccurate. Of course that sounds easy but we both know they will try to pass the buck.

CI

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@Anonymous wrote:

 mine has been hurting my TU scores. it is not being  factored into my utility on EX and EQ but it is on TU which explains why my TU scores are always the lowest about 25 to 30 pts difference.

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@Anonymous wrote:
how does this effect Scores when there is technically no reported CL? 

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