Bank issued vs revolving accounts

[Cblough93]

On the FICO app under credit mix, there are 3 sections

-revolving accounts 

-installment loans 

- bank issued credit cards

I'm assuming store cards obviously don't qualify as bank issued cards, but are there other types of credit cards that don't qualify as bank issued?

Also, are there any major issuers that don't qualify as bank issued? 

[Kforce]

---

@Cblough93 wrote:

On the FICO app under credit mix, there are 3 sections

-revolving accounts 

-installment loans 

- bank issued credit cards

I'm assuming store cards obviously don't qualify as bank issued cards, but are there other types of credit cards that don't qualify as bank issued?

Also, are there any major issuers that don't qualify as bank issued? 

---

Don't have the Fico App but maybe this is where the "Charge Cards" land as not revolvers !

[Cblough93]

@Kforce 

Ahh that make sense too not sure why I didn't think of that. thanks!

[Kforce]

---

@Cblough93 wrote:

@Kforce 

Ahh that make sense too not sure why I didn't think of that. thanks!

---

You have to many questions swimming around

[AndySoCal]

@Cblough93   When a  store  /gas cardreports to the credit bureaus it is reported in name of the retailer. The reason for this is simple the retailer has contracted with a bank like Synchronny, Citibank, US Bank to manage the credit related needs. The retailer has chosen this path  for whatever reason. Like the would rather someone else the job than have job done in house.

[Cblough93]

@Kforce 

im sorry buddy I know it's probably annoying, I will try to take it back a notch. 

[FicoMike0]

Ask away, we don't have to respond.

I think the distinction is between store cards and general credit cards. I'm not sure charge cards are included at all, I don't have one.

They aren't revolving credit,

They aren't installment loans, and

They aren't credit cards.

Maybe someone who has one will figure it out.

[John-J-Schmidt]

---

@FicoMike0 wrote:

between store cards and general credit cards. I'm not sure charge cards are included at all, I don't have one.

---

Myfico frontend classifies the Amazon and the Walmart store charge cards as revolvers which is what they are. Both are included in the "revolving accounts" mix count, but not in the "bank issued cards" count.

Also, the credit mix "revolving accounts" and "bank issued cards" includes closed cards (still reporting) in the counts, but does not include closed AU cards (still reporting).

I do not know if they include open AU cards.

[AndySoCal]

Any credit card where the terms of the requires the balance to be paid in full each month will not be included the utilization. Some Amex cards used to qualify. Dinners Club  might still qualify. 

[NoHardLimits]

Okay, I just did the dirty work by manually counting and sorting my lastest myFICO report's accounts. 

According to the Credit Mix section, my rating is Exceptional with:

22 Revolving Accounts

2 Installment Accounts including Mortgages

22 Bank-Issued Credit Cards

After combing through each tradeline, I came up with:

12 open bank cards

1 open Amex charge card

0 open retail cards

1 open authorized user bank card

10 closed bank cards

0 closed charge cards

0 closed retail cards

3 closed authorized user bank cards

To end up at the Credit Mix counts, regular bank cards are included for my primary cardholder accounts whether they are open or closed.  The Amex charge card is not included.  The authorized user accounts are not included whether they are open or closed.

Someone else will have to test the scenario with retail cards, because I don't have any on my reports.