Amex Charge Card And 1 Revolver With The $2 Trick

[Cappy]

So I have one small balance of around $150 on an Amex Charge card now reporting and I lost 17 Points on My Ex Fico....

 

This is the only balance reporting as of now.

 

What was the formula of when only a charge card was reporting? As of now, it's as if I have 0 balances throughout the board.

 

So based on this, I believe that the $2 trick may work with one charge card reporting?

 

Thoughts???

[nolanryan]

Since there is not a reported limited on a charge card, you cannot determine the percetage or utilization used. Charge cards will not factor into utilization

[cashnocredit]

So I have one small balance of around $150 on an Amex Charge card now reporting and I lost 17 Points on My Ex Fico....

 

This is the only balance reporting as of now.

 

What was the formula of when only a charge card was reporting? As of now, it's as if I have 0 balances throughout the board.

 

So based on this, I believe that the $2 trick may work with one charge card reporting?

 

Thoughts???

 

Charge card balances are ignored on EX and TU FICO 8 and all FICO 4 scores. Only EQ FICO 8 will respond to a balance.

The "$2 trick" should have the reporting balance on a regular revolver if you want to optimize FICOs.

[mendelssohn]

 

So I have one small balance of around $150 on an Amex Charge card now reporting and I lost 17 Points on My Ex Fico....

 

This is the only balance reporting as of now.

 

What was the formula of when only a charge card was reporting? As of now, it's as if I have 0 balances throughout the board.

 

So based on this, I believe that the $2 trick may work with one charge card reporting?

 

Thoughts???

 

Charge card balances are ignored on EX and TU FICO 8 and all FICO 4 scores. Only EQ FICO 8 will respond to a balance.

The "$2 trick" should have the reporting balance on a regular revolver if you want to optimize FICOs.

 

 

Thanks for chiming in here, CNC. You know more about the charge cards and FICO scoring models than anyone here.

[Cappy]

 

So I have one small balance of around $150 on an Amex Charge card now reporting and I lost 17 Points on My Ex Fico....

 

This is the only balance reporting as of now.

 

What was the formula of when only a charge card was reporting? As of now, it's as if I have 0 balances throughout the board.

 

So based on this, I believe that the $2 trick may work with one charge card reporting?

 

Thoughts???

Charge card balances are ignored on EX and TU FICO 8 and all FICO 4 scores. Only EQ FICO 8 will respond to a balance.

The "$2 trick" should have the reporting balance on a regular revolver if you want to optimize FICOs.

So on everything but EQ 08 it's ignored? It's ignored to the point where it doesn't count towards overall utilization as well? So on everything but EQ 08, why wouldn't the 1 revolver at $2 and 1 charge card be suffice if the charge card would be completely ignored?

[cashnocredit]

 

 

So I have one small balance of around $150 on an Amex Charge card now reporting and I lost 17 Points on My Ex Fico....

 

This is the only balance reporting as of now.

 

What was the formula of when only a charge card was reporting? As of now, it's as if I have 0 balances throughout the board.

 

So based on this, I believe that the $2 trick may work with one charge card reporting?

 

Thoughts???

Charge card balances are ignored on EX and TU FICO 8 and all FICO 4 scores. Only EQ FICO 8 will respond to a balance.

The "$2 trick" should have the reporting balance on a regular revolver if you want to optimize FICOs.

So on everything but EQ 08 it's ignored? It's ignored to the point where it doesn't count towards overall utilization as well? So on everything but EQ 08, why wouldn't the 1 revolver at $2 and 1 charge card be suffice if the charge card would be completely ignored?

 

 

Correct. EQ doesn't count charge card utilization per se but does factor it in overall utilization. The High Balance, which is the highest reported balance over the prior 18 months, is treated as a CL for overall utilization in EQ 08. Everyone else just ignores it. I've had my balance go up or down 20k and EX and TU never twitched.

 

There is a limit on the high balance and if you over it EQ 08 will no longer factor in the reported balance for util. It's somewhere over 40k and under 60k. My understanding is that revolvers with very high CLs are also ignored but don't have personal experience with that. Reports of what it is have varied and likely it's different amongst CRAs. Probably also over 40k and possibly 50k. Bob Wang did some work on that.

[cashnocredit]

 

Thanks for chiming in here, CNC. You know more about the charge cards and FICO scoring models than anyone here.

 

 

Thanks Mendelsohn, but only is some small corners of the FICO circus. I try not to inject opinion in areas I'm ignorant of - which are numerous. You offer much more these days.

[mendelssohn]

Somewhere between 40K and 50K.

[mendelssohn]

 

 

Thanks for chiming in here, CNC. You know more about the charge cards and FICO scoring models than anyone here.

 

 

Thanks Mendelsohn, but only is some small corners of the FICO circus. I try not to inject opinion in areas I'm ignorant of - which are numerous. You offer much more these days.

 

 

I remember reading how you and Bob isolated the charge card and the impact on FICO scores. That was extremely helpful.

[Cappy]

Thanks CNC