Credit Tips: Tips On How to Make Credit Card Usage on Non-Reportable Credit Limit Appear Lower

Posted On: March 1, 2007

Author: hankreardon
Posted: Thu Mar 01, 2007 8:21 am
Post subject: AMEX charge card limits

I’m curious what sort of effect my new AMEX Gold charge card might have on my credit rating. Like many people on this forum, I have had the Capital One problem of not having my credit limit reported. I took Mouse’s advice and maxed out the card and then PIF. Anyway, I am new to this whole no-limit charge card world. Am I going to have the same problem? Is my AMEX always going to appear maxed out, thus hurting my credit rating? Should I run it up to several thousand dollars and then PIF so that my max balance is high enough to make my usage appear low?

Author: mouse
Posted: Thu Mar 01, 2007 8:45 am
Post subject: Re: AMEX charge card limits

hankreardon wrote:
I’m curious what sort of effect my new AMEX Gold charge card might have on my credit rating. Like many people on this forum, I have had the Capital One problem of not having my credit limit reported. I took Mouse’s advice and maxed out the card and then PIF. Anyway, I am new to this whole no-limit charge card world. Am I going to have the same problem? Is my AMEX always going to appear maxed out, thus hurting my credit rating? Should I run it up to several thousand dollars and then PIF so that my max balance is high enough to make my usage appear low?

-Hank

AMEX GREEN/GOLD/PLATINUM “CHARGE” CARDS ARE NOT GOING TO HAVE A “CREDIT LIMIT”

They have a “KNOWN or UNKNOWN–EXPOSURE LIMIT”

They shouldn’t hurt that much UNLESS it is the only card you have

I only have “CREDIT CARDS” with known “CREDIT LIMITS”

AMEX “CHARGE” CARDS ARE ALWAYS PIF………….

All your unused credit limits on your “CREDIT CARDS” help compensate

Author: guessindigo
Posted: Thu Mar 01, 2007 4:13 pm
Post subject:

YMMV

My AMEX gold card reports as open (not revolving) and even if the reported balance equals the high balance for any given month, it hasn’t had any negative impact on my fico scores.

In fact, on some of my signature cards, I intentionally ask them to hide the actual limit so as to mask my available credit.

Indeed, I have been turned down before because of sufficient avaialble credit.

In addition, I have made individual purchases anywhere from $1.50 up to $7,770 and have never had a charge declined.

Author: angelo21
Posted: Thu Mar 01, 2007 5:22 pm
Post subject: Re: AMEX charge card limits

hankreardon wrote:
“I’m curious what sort of effect my new AMEX Gold charge card might have on my credit rating. Like many people on this forum, I have had the Capital One problem of not having my credit limit reported. I took Mouse’s advice and maxed out the card and then PIF. Anyway, I am new to this whole no-limit charge card world. Am I going to have the same problem? Is my AMEX always going to appear maxed out, thus hurting my credit rating? Should I run it up to several thousand dollars and then PIF so that my max balance is high enough to make my usage appear low?

-Hank”

As Mouse says, charge cards have no limit because you must PIF every month. This is a given and known throughout the industry. Shouldn’t hurt you.

If you have a credit card that’s not reporting, that’s another story. It seems you’ve already done the exercise Mouse recommended.

If you really need revolving credit then apply for another Amex, Citi, Chase, etc. product with a CL.

Author: kpark
Posted: Thu Mar 01, 2007 6:35 pm
Post subject:

Charge Cards such as Amex Green (and others), after personally holding one and PIF every month for twenty six straight years….. I believe have zero:no benefit to the card holder!

None, whatsoever!

Mouse is (as is his or her history shows) right on the money here!

Charge cards are basically nothing but ego enhancing celebrity symbols to a “wannabe” life style.

They are a (financial) bonanza to the issuing card company: (ie: ridiculous annual fees)!

Yes….they offer no limit charges! But why?

Because they give you a wink at you’re “supposed fame”!

And all they want from you in return is for you to send them some money every year to guarantee your continued pass at the night club rope.

Never give a Credit Card Company a single (annual) dime for the benefit of holding one of their cards.

Dan

P.S

If you need unlimited financial access to monthly charges, all it takes is phone calls to specific representatives….. and proof of credit worthiness!

Nothing more!

Labels: Credit Card Limit Reporting, Lower credit Card Usage, PIF