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So I am currently in rebuilding mode and feel I have been making progress. I was reviewing the site and found data on where to keep util on revolvers each month, however I cannot find much data on charge cards.
I was recently applied and was approved for the AMEX Gold Card and this will be my main card moving forward. My question is where should I keep the balance knowing that this card is not factored into util? Does showing a balance each month have any affect? Just wondering if I should pay the card down prior to the statement cut each month or not. All of my other cards are $1K limits and below, I have already put 3 times that on this card in a week (Flights were a big portion).
Thanks in advance!
The appeal is that it doesn't have a limit per se.
It's catagorized as "other" on your reports.
If you use it you know you have to pay it when the statement cuts It doesn't really do much from a scoring standpoint but, it can influence your other creditors to bump up your limits if they see you're managing it well.
@Anonymous wrote:The appeal is that it doesn't have a limit per se.
It's catagorized as "other" on your reports.
If you use it you know you have to pay it when the statement cuts It doesn't really do much from a scoring standpoint but, it can influence your other creditors to bump up your limits if they see you're managing it well. I never thought about this part....
Obscure, thanks for the feedback. I was thinking that it wouldnt help nor hurt as its not revolving, but wasnt 100%.