Charging up AmEx to improve Utilization Ratio?

[user5387]

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@SlowRebuild wrote:

We have an Amex Business Gold Rewards also that can be used with the same logic. Just curious, would your concern be tax or an FR in terms of not using a personal card for business-related spend?

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There are various threads on this forum that talk about the FR issue with Amex business/personal.

There's also the issue of keeping business/personal expenses separate for tax and accounting purposes.

If you use your business CC for this purpose, how will that help your personal utilization, given that Amex business CCs don't report to personal?

If your utilization is below 10% already, I don't see much of a boost in this area.

[09Lexie]

I noticed that you are having difficulty quoting replies.  For detailed steps, please review this thread:

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[FinStar]

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@LearningMoreAboutCredit wrote:

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@SlowRebuild wrote:

AAoA is 7 years...0 inquiries for past 12 months but had a charge-off with Capital One in 2008. Based on all I have read there isn't much I can do with the CapOne charge-off so I am looking at other options.

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CO could be holding your scores down especially if it is constantly updated.

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+1

[FinStar]

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@user5387 wrote:

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@SlowRebuild wrote:

We have an Amex Business Gold Rewards also that can be used with the same logic. Just curious, would your concern be tax or an FR in terms of not using a personal card for business-related spend?

---

There are various threads on this forum that talk about the FR issue with Amex business/personal.

There's also the issue of keeping business/personal expenses separate for tax and accounting purposes.

If you use your business CC for this purpose, how will that help your personal utilization, given that Amex business CCs don't report to personal?

If your utilization is below 10% already, I don't see much of a boost in this area.

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+1

Exactly.

[SlowRebuild]

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@FinStar wrote:

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@LearningMoreAboutCredit wrote:

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@SlowRebuild wrote:

AAoA is 7 years...0 inquiries for past 12 months but had a charge-off with Capital One in 2008. Based on all I have read there isn't much I can do with the CapOne charge-off so I am looking at other options.

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CO could be holding your scores down especially if it is constantly updated.

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+1

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It is being constantly updated...5 years now. I believe I am out of the SOL in my state (Arkansas). Is their anyway to stop the constant monthly updating by Capital One?

[09Lexie]

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@SlowRebuild wrote:

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@FinStar wrote:

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@LearningMoreAboutCredit wrote:

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@SlowRebuild wrote:

AAoA is 7 years...0 inquiries for past 12 months but had a charge-off with Capital One in 2008. Based on all I have read there isn't much I can do with the CapOne charge-off so I am looking at other options.

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CO could be holding your scores down especially if it is constantly updated.

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+1

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It is being constantly updated...5 years now. I believe I am out of the SOL in my state (Arkansas). Is their anyway to stop the constant monthly updating by Capital One?

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It can update until it's pif or in 2-2-1/2 years (7-7-1/2 yrs from DOFD).

Moving to Gen Cred

[takeshi74]

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@SlowRebuild wrote:

But, based on reading the experiences of others that seems like a no-go.

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I'd suggest attempting to address the derogs versus relying solely on the experiences of others.  Definitely be sure to carefully research before taking action though.  As others have said, utilization isn't your issue.  Derogs are always a major bottleneck.