cancel
Showing results for 
Search instead for 
Did you mean: 

AMEX Gold only reports Balance - not credit limit!!!

tag
Anonymous
Not applicable

AMEX Gold only reports Balance - not credit limit!!!

I know there is no pre-set limit on Gold.

But there is a pay over time limit. In this case it is 11K.

So when a balance is reported to Ex, TU, EQ, but NO LIMIT is reported ..... it kills your usage number.

Unless Amex fixes this reporting policy, you should avoid the Gold card... and I guess Platinum is the same.

WHY ?

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: AMEX Gold only reports Balance - not credit limit!!!

It doesn’t affect your utilization because with no preset limit, there’s no way to calculate a utilization percentage. You may be using $650, but $650 out of how much? It can’t be calculated - they don’t use your POT limit as a de facto credit line to try and figure a utilization on the card.

Gold affects your profile via the age factors, payment history, etc but not utilization-wise.
Message 2 of 9
Anonymous
Not applicable

Re: AMEX Gold only reports Balance - not credit limit!!!

There IS a limit that can be reported. It is 11K.

Even though there is no pre-set spending you can pay at EOM, there is a limit you may pay as revolving.

The balance reported does effect total credit usage.... because it IS reported.

$325.00 /11k. is much better than $325.00/ zero 

 

Message 3 of 9
SouthJamaica
Mega Contributor

Re: AMEX Gold only reports Balance - not credit limit!!!


@Anonymous wrote:

I know there is no pre-set limit on Gold.

But there is a pay over time limit. In this case it is 11K.

So when a balance is reported to Ex, TU, EQ, but NO LIMIT is reported ..... it kills your usage number.

Unless Amex fixes this reporting policy, you should avoid the Gold card... and I guess Platinum is the same.

WHY ?


My understanding is that the Amex charge cards are not factored into utilization percentages at all, although they are counted as an "account with balance".


Total revolving limits 657200 (536700 reporting) FICO 8: EQ 712 TU 710 EX 708

Message 4 of 9
Anonymous
Not applicable

Re: AMEX Gold only reports Balance - not credit limit!!!

Same here SJ. In counting as an account with a balance, it figures into the other factors I mentioned up above.

POT isn’t used as a limit for UTI. That’s only the max amount that they’ll let you revolve instead of pay off at statement close. It’s an internal number to Amex.

You do know that division by zero is undefined in conventional math right?
Message 5 of 9
mikesonthemend
Valued Contributor

Re: AMEX Gold only reports Balance - not credit limit!!!


@Anonymous wrote:
You do know that division by zero is undefined in conventional math right?

That is one way of putting it.




Living through Darwinism is so much worse than learning about about it in school.
Message 6 of 9
Anonymous
Not applicable

Re: AMEX Gold only reports Balance - not credit limit!!!

Just in reference to post 3
Message 7 of 9
Anonymous
Not applicable

AMEX cards with no limit how are the limits reported to the credit bureaus?

So this is a random thought. 

 

With some people having AMEX cards with no limits how does this actually get reported to the credit bureaus? Not that people have this really care just curious Smiley Happy 

Message 8 of 9
Anonymous
Not applicable

Re: AMEX cards with no limit how are the limits reported to the credit bureaus?

Screenshot_2019-07-26 Accounts.png

bottom is the gold card, it counts when calculating balance, but not when calculating UTI.

Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.