Amex entry in Equifax credit r

Discussion in 'Credit Talk' started by Saar, Nov 18, 2000.

  1. Saar

    Saar Banned

    Ok, we all know that one of the FICO score factors is whether you have the right "mixture" of tradelines, i.e. credit cards, retail cards, installment loans, mortage, etc.

    I recently got my Equifax credit report, and noticed a very strage thing about Amex: While the Blue is reported as a "credit card", the Optima Platinum ISN'T. As if it were a different kind of tradeline.

    At first I wanted to call Amex right away to correct it. But on second thought, given what we already know about the importance of "mixture", maybe I shouldn't do anything.

    Your comments are welcome.

  2. Momof3

    Momof3 Well-Known Member

    RE: Amex entry in Equifax cred

    May I ask what the Optima is reported as???
  3. dave

    dave Well-Known Member

    RE: Amex entry in Equifax cred

    According to the Equifax "How to Read Your Credit File" sheet, there are three types of accounts:

    O=Open (entire balance due each month)
    R=(payment amount variable)
    I=(fixed number of payments)

    Saar, I would assume that since both the AMEX Blue and the AMEX Platinum Optima are lending products - revolving accounts, that is - both should be R1(I hope you are keeping your AMEX accounts R1!!!!!)

    Is one of them reporting as O1???
  4. sam

    sam Well-Known Member

    RE: Amex entry in Equifax cred

    Actually, back in the days, years years ago, i've seen ALL amex at O lines and several store charge (credit,whatever) cards as O lines too.

    I think amex is just ancient in some of their ways :)

    The Optima, originally, was a credit line, in which you could sign over a portion or all of your Amex bill to, and was not even a credit card. (Info: father, about 15 years ago i would read the bills and see this option, very high interest like 16% too). If i can remember back that far i think it was called the Amex Optima Centurion Bank line, and came as a separate sheet of paper to send back with the normal charge line bill.


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