Re: Amex vs visa or mastercard
It make NO difference as far as I know...but if a credit card company "LOOKS" at your report with their EYES and sees a couple of AMEX accounts, they MAY push you closer to approval than denial...EXTRA BROWNIE POINTS...
Originally posted by Slee
I was wondering if Amex is equal to visa and mastercard as far as scoring goes. In other words, if you have an amex card, will it increase your fico just as well as a visa or a mastercard provided you pay them on time of course. I also noticed that on the "high" credit column of my equifax report, there is an amount there for $1578. Now I know I have charged more than that in one month. In fact, my high charge ever for amex green was $2500 or so. Thus, does this factor in the credit usage ratio? If my current balance was $1500, and my high was reported as $1578, does that mean I am using 100% of my credit, consequently increasing my usage percentage? I truly do not know.
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