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Amex Platinum Reported Balance

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Brian_Earl_Spilner
Credit Mentor

Re: Amex Platinum Reported Balance


@SouthJamaica wrote:

@Anonymous wrote:

Has anyone ever let their Platinum Card report to the credit bureaus with a balance? (I let $150 report by accident) does it matter? Is it going to look at the "highest balance" of $150 as a credit limit in the future now, if another balance is reported?  I meant to report at $0.00..




@Anonymous wrote:

Has anyone ever let their Platinum Card report to the credit bureaus with a balance? (I let $150 report by accident) does it matter? Is it going to look at the "highest balance" of $150 as a credit limit in the future now, if another balance is reported?  I meant to report at $0.00..


"High credit" of an Amex charge card is only a factor  -- as an assumed credit limit -- in some of the older scoring models. (I'm not 100% sure about this, but I don't think it relates to reported balances;  I think it refers to the highest balance throughout the cycle. I hope someone with greater knowledge, like @Thomas_Thumb or @Revelate will chime in and confirm or dispel.)

 

In the newer scoring models an Amex charge account counts as an account with a balance, but is disregarded altogether for utilization purposes.

 

So... don't worry about it.


For the older scoring model whatever your highest reported balance is will be your credit limit always. It's only replaced if you report an even higher balance.  It doesn't reset every month. At least, that's how it used to be. I haven't checked that in many moons.

    
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