@Anonymous wrote:
@Revelate wrote:How are you defining charge card?
There's no reporting difference between my Amex and my CSP with the exception the Amex is listed as term of 1 month.
I'd be very, very cautious of suggesting there's a difference between them from a credit mix perspective. I'm not going to partake in this discussion since there's no data, but I'm leery of suggesting people go get some random ass card they may need for some mix issue, fact is the traditional 2 revolvers and 2 installment loans likely max out that portion of the scorecard anyway, or come close enough for an 850 easily assuming the rest of the file supports it.
I am not defining charge card.
Anthony Sprauve is quoted in this link as indicated several times above.
https://www.linkedin.com/in/anthonysprauve
http://creditcardforum.com/blog/fico-score-credit-mix/
I am certainly not suggesting anyone go out and get a random ass card for any reason.
I even pointed out how you disagree with this analysis in a link above, but here it is again.
I can however say that 2 revolvers and 2 installment loans likely does not max out that portion of the scorecard or it didn't appear to for me.
I can also say that it comes close enough to get an 848/845/850 as I was able to acheive it with a "very good" credit mix as represented by myFICO.
Since no one seems to actually read what I linked above, I am quoting it below for the skimmers
"“The score doesn’t see your Sears or Macy’s card differently than another credit card,” he says.
As for charge cards, FICO does view them differently from regular revolving cards, and they would therefore contribute to your credit mix, Sprauve says. There’s just one complication: Cards marketed as charge cards don’t always report to the bureaus as charge cards. If it doesn’t show up as a charge card on your reports, it won’t be factored into the credit mix portion of your FICO as a different type of card.
“It’s hard to distinguish between how the card is marketed and how it’s reported,” Sprauve says."
There is also documentation in that link to support TT's assertiong of having move revolving accounts than installment accounts quoting someone not affiliated with FICO. And while that person is proclaimed an "expert;" the credit credentials I was able to find were no pedigree.
Well, why does FICO viewing them differently, suggest that it's different for credit mix purposes?
FICO views a PR differently than a Revolver, but the PR doesn't count for credit mix. I would suggest the same is for utilities which is closer comparison, and yes, for charge cards too. I don't think we're going to ever know some things about the algorithm, but what was quoted (and there may have been more, I haven't read the base article) simply isn't proof. That's all I'm getting at, be careful on subscribing "truth" to any statement made by even FICO representatives... things published in the myFICO app were flat out wrong, and were later removed as a result after the issue was raised.
@Anonymous wrote:
@Revelate wrote:Well, why does FICO viewing them differently, suggest that it's different for credit mix purposes?
FICO views a PR differently than a Revolver, but the PR doesn't count for credit mix. I would suggest the same is for utilities which is closer comparison, and yes, for charge cards too. I don't think we're going to ever know some things about the algorithm, but what was quoted (and there may have been more, I haven't read the base article) simply isn't proof. That's all I'm getting at, be careful on subscribing "truth" to any statement made by even FICO representatives... things published in the myFICO app were flat out wrong, and were later removed as a result after the issue was raised.
So if I get an Amex PRG and my credit mix changes to "Exceptional", will that be proof? Not exactly. It will be like everything else here... anecdotal evidence.
With 3 open and 2 closed major bank cards, 1 open and 2 closed auto, 2 open and 4 closed mortgages, I am able to get a "Very Good" Credit Mix on all 3 bureaus as portrayed by myFICO.
By asking those to post a screen shot with "Exceptional" rating I was hoping there would be more details for us to ferret it out.
Maybe one day, we will get some more people to post their credit mix as represented by myFICO and it can be compiled.
I won't volunteer TT to compile it, but he sure does a nice job aggregating data :smileywink:
Anyone posting screen shots of their "Credit Mix" rating and details would provide great information.
I think it was noted earlier that Mix can be a count of items from several possible buckets, without caring which of those buckets are selected. Once one gets a certain count of those available buckets, that may be sufficient to max the category, and that could even be without picking up something from every possible bucket.
@Anonymous wrote:
@taxi818 wrote:
@Anonymous wrote:
@Revelate wrote:
I did post the CRedit mix as you asked to show it was saying exceptional. Which is kinda strange to say the least. It was showing very good before until i added my Amex Green.
then it went exceptional. So thats why i defined that as a charge card. Green, Prg, Plat, those particular npsl cards. which on the report it goes into a catagory of its own. . Im sure there are many other Npsl cards.
Thank you, I appreciate it. That's excellent info. I have an NPSL card. I do not have an Amex "charge" card. I am not sure of any other "charge" cards out there.
If you click on the little green "Exceptional" box it will drill down further.
Can you please list the types of accounts you have? It may have been covered, but I can't seem to find it.
Clicked on green box nth is is what came up.
@taxi818 wrote:Clicked on green box nth is is what came up.
Thanks! So we haven't uncovered any secrets that way yet 
