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Revolving v. Charge Cards

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Anonymous
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Revolving v. Charge Cards

I have an Amex Blue Cash and Green card.  One is categorized as a charge card (the Amex Green) and the other a revolving card (Amex Blue).  The difference, from what I can tell, is the Amex Green requires you to pay the balance off in 30 days where by the Amex Blue allows you to carry a balance over after a minimum monthly payment.

 

Does anyone know if either card affects your FICO score better or worse assume you pay the balance on either monthly?

 

Thanks!! 

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haulingthescoreup
Moderator Emerita

Re: Revolving v. Charge Cards


Yearn2Learn wrote:

I have an Amex Blue Cash and Green card.  One is categorized as a charge card (the Amex Green) and the other a revolving card (Amex Blue).  The difference, from what I can tell, is the Amex Green requires you to pay the balance off in 30 days where by the Amex Blue allows you to carry a balance over after a minimum monthly payment.

 

Does anyone know if either card affects your FICO score better or worse assume you pay the balance on either monthly?

 

Thanks!! 



Hi, welcome to the forums!

They both count equally in scoring.

There's a lot of confusion with the term "charge." It really should refer to cards like your Green, which must be PIF'd each month. But many use "charge cards" to refer to store/ retail cards that don't have a Visa, MC, etc. logo on them. In fact, your credit reports even call these "charge."

This type of store card (or gas card), without the Visa etc logos, do help your score slightly by adding to your credit mix. But they are actually revolving, in that you can carry a balance, even though you'd be crazy to do so. (Retail cards generally have amazingly high APR's.)

Also, even though AmEx says you can carry a balance on your Blue, don't. Ever. Unless you want the giant red eye of American Express to gaze upon you.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 4
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haulingthescoreup
Moderator Emerita

Re: Revolving v. Charge Cards


Yearn2Learn wrote:

I have an Amex Blue Cash and Green card.  One is categorized as a charge card (the Amex Green) and the other a revolving card (Amex Blue).  The difference, from what I can tell, is the Amex Green requires you to pay the balance off in 30 days where by the Amex Blue allows you to carry a balance over after a minimum monthly payment.

 

Does anyone know if either card affects your FICO score better or worse assume you pay the balance on either monthly?

 

Thanks!! 



Hi, welcome to the forums!

They both count equally in scoring.

There's a lot of confusion with the term "charge." It really should refer to cards like your Green, which must be PIF'd each month. But many use "charge cards" to refer to store/ retail cards that don't have a Visa, MC, etc. logo on them. In fact, your credit reports even call these "charge."

This type of store card (or gas card), without the Visa etc logos, do help your score slightly by adding to your credit mix. But they are actually revolving, in that you can carry a balance, even though you'd be crazy to do so. (Retail cards generally have amazingly high APR's.)

Also, even though AmEx says you can carry a balance on your Blue, don't. Ever. Unless you want the giant red eye of American Express to gaze upon you.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 4
oracles
Valued Contributor

Re: Revolving v. Charge Cards

HTSU, i just have to say, you are one great mod. All the mods are great but HTSU, i really enjoy reading your posts. Thanks again to everyone (went off the topic there, sorry lol)
Message 3 of 4
haulingthescoreup
Moderator Emerita

Re: Revolving v. Charge Cards

Aww, thank you! I wouldn't do this if I didn't enjoy it, and whatever I know about credit, I've learned it here from fellow members like you.

It's the willingness of everyone here to share and laugh (and occasionally yell) that makes this place work.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 4
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