Asking Amex to Report Credit Limit on Charge Card

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brettbennett
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Asking Amex to Report Credit Limit on Charge Card

Postby brettbennett » Sun Nov 02, 2014 9:23 pm

This is just a question that may sound kind of dumb. :confused: Is it possible to get Amex to report a credit limit on a charge card to credit bureaus? That would help my credit utilization percentage, so I was just wondering. :ppp
TransUnion - 814
Equifax - 825
Experian - 850


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PlyrStar93
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Postby PlyrStar93 » Sun Nov 02, 2014 9:58 pm

As far as the credit limit like a credit card - I don't think so. For sure they do impose charging limit on charge cards, but that technically is not a credit limit.

They indeed report, however, the high balance which is the highest balance you ever had on statements.

Depending on the specific credit scoring model used, the balance you have on that account may not be factored into utilization so you don't need to worry about it. Generally new FICO models don't factor it, while some old models use high balance as credit limit and consider "utilization" on that account.

If it's me I would move on and not think about this too much. But if you are really worried then it is possible to charge a very large amount and get it reported so that would be "credit limit" for old models - not always a good idea, as 1) you may create a large debt to yourself and 2) you have to pay that balance in full by the due date.
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brettbennett
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Postby brettbennett » Sun Nov 02, 2014 11:17 pm

Not too worried! Thanks!
TransUnion - 814

Equifax - 825

Experian - 850

luisdaa
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Postby luisdaa » Sun Nov 02, 2014 11:27 pm

I don't think it can be done. Charge cards don't report to the Credit Bureau the same way credit cards do. For example, the balance that I have on my Platinum American Express (which is a charge card), it's not reported as credit card debt. It's reported as "other" debt. Therefore, your charge card balance doesn't affect your credit utilization ratio.

takeshi
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Postby takeshi » Mon Nov 03, 2014 9:22 am

As stated above it depends on the scoring model. Older ones may factor it into utilization but current models do not.

cashnocredit
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Postby cashnocredit » Tue Nov 04, 2014 9:12 pm

The high balance over the prior 18 months does count toward utilization on the newer EQ FICO 8. It didn't count for the older FICO 4.



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