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Does Zync help with util?

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bichonmom
Senior Contributor

Does Zync help with util?

I thought that being a charge card, it had no effect on util for FICO. But I've read some posts that say that it is factored in. I'd really appreciate some clarity on this. Smiley Happy

 

Thank you.

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 1 of 21
20 REPLIES 20
LS2982
Mega Contributor

Re: Does Zync help with util?


@bichonmom wrote:

I thought that being a charge card, it had no effect on util for FICO. But I've read some posts that say that it is factored in. I'd really appreciate some clarity on this. Smiley Happy

 

Thank you.


I believe it's factored in from your highest bal. reporting which becomes your limit, may be wrong on this so I hope an existing cardholder can chime in here!




EQ FICO 548 3/3/16
Message 2 of 21
Anonymous
Not applicable

Re: Does Zync help with util?

Ive read it doesnt help. Similar to a Visa sig or MC world, theres no balance to compare your charges to for uti calculation.

Message 3 of 21
bichonmom
Senior Contributor

Re: Does Zync help with util?

Any Zync holders out there? Smiley Tongue I'd really love to know if the Zync charge is counted towards util on FICO. Smiley Happy

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 4 of 21
tinuviel
Moderator Emeritus

Re: Does Zync help with util?


@bichonmom wrote:

Any Zync holders out there? Smiley Tongue I'd really love to know if the Zync charge is counted towards util on FICO. Smiley Happy

 


 

My understanding is that it does not count on the newer scoring models. The EQ that you get from here does not factor it in for util. But, the TU from here does; however, it's not the latest model.

 

If I'm wrong, then I hope that someone will correct me. But, this seems to hold true for the way usage on my Green affects my util.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 5 of 21
LS2982
Mega Contributor

Re: Does Zync help with util?


@tinuviel wrote:

@bichonmom wrote:

Any Zync holders out there? Smiley Tongue I'd really love to know if the Zync charge is counted towards util on FICO. Smiley Happy

 


 

My understanding is that it does not count on the newer scoring models. The EQ that you get from here does not factor it in for util. But, the TU from here does; however, it's not the latest model.

 

If I'm wrong, then I hope that someone will correct me. But, this seems to hold true for the way usage on my Green affects my util.


I would think if the green is how you described it the Zync should be the same way because it's in the same family.




EQ FICO 548 3/3/16
Message 6 of 21
bichonmom
Senior Contributor

Re: Does Zync help with util?

Thanks! That is what I thought, but then I read that it was helping with util, so wasn't quite sure. 

 

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 7 of 21
Anonymous
Not applicable

Re: Does Zync help with util?

Platinum is the same way.

Message 8 of 21
tinuviel
Moderator Emeritus

Re: Does Zync help with util?


@bichonmom wrote:

Thanks! That is what I thought, but then I read that it was helping with util, so wasn't quite sure. 

 

 


 

Well, only in the sense that it's "absorbing" the util from cards that would otherwise count. For instance, if I allowed a balance to report on my MC or Visa, that would count towards my util. But, if I use my Amex charge card (Zync, Green, Gold, Plat), then that's so many charges that are NOT sitting on my MC or Visa. So, if I have a Visa with a $5000 CL and that's all (for simplicity's sake), and I allow $4500 worth of charges to report, I'm at 90% util -- not good! But, if I have a NPSL Amex along with the Visa, and I allow $500 to report on the Visa and put the remaining $4000 on my Amex, then I'm only at 10%, because the Amex balance doesn't factor in -- much better!

 

Does that make sense?


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 9 of 21
bichonmom
Senior Contributor

Re: Does Zync help with util?

Wow! That's cool! Thank you. Smiley Very Happy

 

Fortunately, my util isn't an issue, but that's because I pre-pay before the stmt cuts. It would be nice to not have to do that. Definite perk to having  a charge card. Smiley Happy

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 10 of 21
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