Apologies if this topic has been discussed recently, couldn't find a definite answer!
How dose AMEX Charge Card appears in Credit Reports?
I have seen few say its just another revolver card and some say it shows as Charge Card under different category.
Equifax has a separate section under "Other accounts are those that are not already identified as revolving, mortgage, or installment accounts such as child support obligations, charge cards, or rental agreements. Click anywhere on an account entry to see more details about that account."
Experian seems to have a separate section as well.
Appreciate the clarification.
It depends on the FICO score version. 8 keeps it separate and it doesn't factor into utilization. Older versions will use your highest reported balance as the card limit and it will factor into utilization.
Not too concerned about utilization as how it'll categorizes the account!
^Platinum with no CL on Experian Credit report
^Cash Magnet with CL
i think F8's are the most important nowadays (correct me if im wrong), but with F8 this is how any personal charge card shows. Both revolving accounts in the same section, EQ.com and CK app both show N/A on utilization also with similar account 'terms'
Mine is listed as a credit card on MyFico, but as @Brian_Earl_Spilner has said, the balance never factors into utilization though.
OK so that clears it. It's shows as Credit Card.
I'll stop watching youtube 🤐🤥
Thank you guys 👍