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Amex gold doesn't report CL only CB

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Established Member

Amex gold doesn't report CL only CB

I just realized that my gold Amex with no stated credit limit, only reports my balance due. This means that the card didn't increase my TCL but, using it, increases my percentage of total credit used. I've only had the card about 8 months. Will it hurt my FICO 8 if I close it?

Message 1 of 8
7 REPLIES 7
Valued Member

Re: Amex gold doesn't report CL only CB

I think it doesn't count. Just shows up as a card on your credit report.
Message 2 of 8
Frequent Contributor

Re: Amex gold doesn't report CL only CB

Like the other charge cards, it does not get included in utilization...it is counted in FICO98 scores.    It's in a post I made not long ago.

 

It will matter when it comes to DTI if applying for a mortgage, loan, etc.

 

This is how my Zync reports.  It will report a balance but it does not report a limit or usgage % like revolvers.

 

amex-cl.jpg

 

Message 3 of 8
Established Member

Re: Amex gold doesn't report CL only CB

Thanks. So in trying to hit 800, this card won't help me? I did see the credit balance on my FICO 8, but you're sure it isn't included in my utilization? Does the same apply to FICO 2 and the others?

Message 4 of 8
Frequent Contributor

Re: Amex gold doesn't report CL only CB


@mocean wrote:
Thanks. So in trying to hit 800, this card won't help me? I did see the credit balance on my FICO 8, but you're sure it isn't included in my utilization? Does the same apply to FICO 2 and the others?

 

I am 100% positive...only FICO98 scores.

Message 5 of 8
Established Member

Re: Amex gold doesn't report CL only CB

Thanks! I only got the card because the benefits offers for new customers were amazing. Still pretty good, but I find I don't use their new monthly discount offers very much. At $250/yr, I can probably fare better with my Amazon Chase given the no annual fee and utilization reporting. Thoughts?

Message 6 of 8
Frequent Contributor

Re: Amex gold doesn't report CL only CB

I use mine for the 4x dining and groceries.  I just got the platinum this week for the 75k sub and the 5x hotel and airfare so I'll put both of them to good use.  I probably won't use my cash magnet much now and I just got that in April.  I don't know much about chase but I am sure others will chime in.

 

If you want a reporting card, definitely dont get a charge card and depending on your needs, chase may be better for you.

Message 7 of 8
Established Member

Re: Amex gold doesn't report CL only CB

Yeah, the travel points have been good, along with groceries and gas, but not hotel. I'll cancel it to avoid the next $250 annual fee. Hope that doesn't hurt my credit score. Thanks...

Message 8 of 8
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