If you have an Amex charge card and MyFICO SW please add your experience

[cashnocredit]

I have noticed that my Amex charge card balance changes affect EQ FICO scores over the last three months since my SW was upgraded to FICO 8. Prior to that balance changes were ignored.

 

If you have SW set up to report on balance changes please look up your alerts and FICO scores whenever your Amex balance shifted your overall util 5% or more.

 

FICO exec's have stated in the past that Amex charge cards do not impact FICO score utilization and that seems to be the case with EX and TU FICO 8 scores but I'm seeing a significant effect on EQ FICO 8 with score watch.

[cv91915]

I'd love to help, and have two charge cards and mSW, but I almost never put any actual spending on either of the cards.

[cashnocredit]

I'd love to help, and have two charge cards and mSW, but I almost never put any actual spending on either of the cards.

 

But, but, it's for Science!

[PhoenixDown]

Make some use of the platinum before you cancel it CV

[cv91915]

I'm canceling the Platinum next month, which means I basically will never get to use any new MR points. I have a Green with no MR benefits at all. Putting any serious spending on either doesn't make a lot of sense... Certainly not tens of thousands of dollars to move the util needle by 5%.

 

Sorry, folks, not even for science.

 

[almostanonymous]

EQ08 for me definitely fluctuates depending on the balance differences of my PRG.

[cashnocredit]

EQ08 for me definitely fluctuates depending on the balance differences of my PRG.

 

Interesting. I spent a few bucks to pull EX FICO 8 after only my Amex reported a 5k balance increase (5% util change) and it didn't budge. While I only get FICO 8 on TU every month I have had balance reports >20k and I didn't see any difference on TU FICO 8 either. EQ's FICO, OTOH, changed 5 points as a result of the same balance reporting that didn't budge EX.

[cashnocredit]

I'm canceling the Platinum next month, which means I basically will never get to use any new MR points. I have a Green with no MR benefits at all. Putting any serious spending on either doesn't make a lot of sense... Certainly not tens of thousands of dollars to move the util needle by 5%.

 

Sorry, folks, not even for science.

 

 

Yeah, a bit much to do for kicks.

[m3jasper]

I decided to pay before the statement closed on the Amex Platinum this month, it made quite the difference. Went from an 810 to an 820. With the old scoring model, it never made a difference.

Edited August 22, 2014 by m3jasper

[cashnocredit]

That's in line with the changes I've seen on my Amex Charge. Note that your new balance wasn't zero. It is claimed that Amex charge cards do count in the numbers of cards with balances so this is additional evidence that Amex Charge card balances impact FICO 8 scores. At least on EQ.

[mendelssohn]

^

[cashnocredit]

As expected Amex is impacting EQ FICO 8 once again.

 

My high balance finally dropped to a bit under 30k and EQ util scoring has kicked in. My Amex balance is low this month at about 1k so it's pushing EQ up. EQ FICO 8 now at 809 (3% util including Amex high balance) but about 8 points lower on EX and TU (5% util with Amex excluded). When my earlier HB was 60k Amex was ignored by all three and my EQ FICO was never more than a couple points different from the others.