Which is better to improve credit score- charge or credit cards?

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nismoZtuner
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Which is better to improve credit score- charge or credit cards?

Postby nismoZtuner » Fri Jun 28, 2013 4:06 pm

So, I have a question...

I recently applied for the Gold Premier Gold card from Amex after being a Blue cash cardholder for a month.

[color="rgb(0, 0, 0)"]What really helps the most Charge cards or normal Credit Cards when it comes to improving credit scores? [/color]

8/2012 Bank of america CashRewards CL $600
5/24/2013 Amex Blue Cash CL $2000
5/27/2013 Discover It CL $1500
6/24/2013 Amex Gold Premier

Credit Score 737 According to Transunion as of 6/28/2013.....
My Age: 20 years
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22


ksy
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Postby ksy » Wed Jul 03, 2013 10:16 pm

Good question

Freedomtodiscover
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Postby Freedomtodiscover » Wed Jul 03, 2013 11:25 pm

Would have to say credit because they will report a credit limit. Although charge cards will no longer hurt your score like they used to it still won't have a true utilization limit which would contribute to your total available credit.
[size=80]
HSBC Premier - $32K
Amex BCE - $10.5K
Amex ZYNC - NPSL
Chase Freedom - $5K
Discover IT - $3K
EX Fico- 780[/size]

Kripler68
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Postby Kripler68 » Wed Jul 03, 2013 11:40 pm

Credit should have a better chance of improving score. Charge reports highest balance, while credit shows a limit and a balance.

MemberSince99
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Postby MemberSince99 » Thu Jul 04, 2013 7:58 am

Since you have 3 credit cards, you are in good shape adding a charge. It isn't going to do anything but help your score as your cards age. If it was your only card, I'd say that would be a problem.

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nismoZtuner
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Postby nismoZtuner » Wed Jul 31, 2013 2:02 pm

MemberSince99 wrote:Since you have 3 credit cards, you are in good shape adding a charge. It isn't going to do anything but help your score as your cards age. If it was your only card, I'd say that would be a problem.


great i dont plan on getting new cards during this time..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710

BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]

American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]

Chase Sapphire Preferred[7.3]

Inquires: TU(?) EX(?) EQ(?)

TCL-$19,800

Age-22

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Z06Biker
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Postby Z06Biker » Wed Jul 31, 2013 4:12 pm

How did charge cards used to hurt one's score? I remember hearing this some time ago but figured it was conjecture. Whatever the case, I'm sure glad it's no longer the case!

In other news, nismoZtuner - glad to see another gearhead here on the forums! 370Z Nismo, perhaps? :)
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

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nismoZtuner
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Postby nismoZtuner » Wed Jul 31, 2013 4:57 pm

Z06Biker wrote:In other news, nismoZtuner - glad to see another gearhead here on the forums! 370Z Nismo, perhaps? :)


Will be I've been waiting for the 14` model to be realised since I like the styling that was done to it.

But my current rides are:
1994 Nissan 300zx
1995 Nissan 300zx Twin Turbo
1999 Mitsubishi 3000GT vr4 (Spyder Hard top)

My younger brother has 1990 Supra Turbo.
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710

BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]

American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]

Chase Sapphire Preferred[7.3]

Inquires: TU(?) EX(?) EQ(?)

TCL-$19,800

Age-22



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