Charge card vs revolving card?

[Twix]

Does anyone know if FICO considers a charge account, like an AMEX Gold card, (which has to be paid in full month to month, usually) to be in a different catagory than a revolving account like blue?

In other words, does it help your credit "mix" to have revolving cards AND charge cards, or does FICO still see charge card like any other revolving credit card?

[Anonymous]

I have been researching this for a year now. My guess and opinion (no facts found either way) but I think charge cards like Amex Green are equal or less on scoring. Being that you must PIF Amex it doesn't show as much control compared to blue or clear like any other CC that you can carry a balance. So the fact that you *can* carry a balance and *don't* on a regular CC might help more. It's the choice of control that shows your ability to manage credit. But I could never find evidence to support either way. Never saw a score benefit on anyones CRs. The challenge I also know is there is no CL and possibly different history. But it won't hurt to have one, just don't think the mix type will help. Can't tell ya for sure haven't got an Amex charge on my CR. But found no one that yet said they got special points for having it. But I keep looking for someone that has.

[Twix]

I know it is reported as a different "kind" of credit though... on my reports AMEX Gold account type says "Charge" but my other cards say "revolving".  I am wondering if there is a scoring reason for that distinction....

[Twix]

I am also wondering if gas cards count as a different "mix"....  I think they report as "gas cards" don't they?

[haulingthescoreup]

This is directly from myFICO: charge cards and credit cards are regarded exactly the same. Gas cards and retail cards which DON'T also have a Visa/ MC/ Discover/ AmEx logo are in a separate category, and having one or the other DOES help your credit mix, at least in most buckets. (I remain unconvinced about whether this is an issue for the 19+ years crowd.) You don't need to have a gas card and a retail card purely for credit mix purposes.

It is possible, of course, that on manual review some lenders might regard charge cards as signaling something or other, but they aren't separated out for scoring purposes.

[Anonymous]

Trix. Please post if you get a plain Retail/Gas card. I would love to know if your score goes up/down or neutral after it first adds to your CR. I will help you identify what part (if any) of that is a score drop from new account. Same for anyone else. If you have lots of credit cards already and add for the first time a Retail or Gas card. Please post score changes. I would also need to know the time your newest account was added too before that and your score before and after adding the first Retail/Gas charge card. Thanks. Out of all the people on the forum someone has to have done this!

[Anonymous]

This also applied to anyone that has an old Retail/Gas card that might have just fallen off due to being closed for 10 years. The affect might be the same if that was your old Charge leaving your CR.