Amex Charge Card CRA Reporting

DFW240980

Hi,

I have an American Express charge card which I use for work expenses, it's paid off in full every month without fail.However Experian are reporting my charge card as a credit card and my balance to limit utilisation percentage is being reported incorrectly, so last month amex reported my balance at £2000 Experian reported this as 2000% utilisation! Experian are showing this as negatively affecting my credit score because I am using all my available credit on that card, however the card doesn't have a pre set limit.

Has anyone else experienced this?

Willing2Learn

It doesn't effect your credit score, as you are independently scored by potential lenders. Lenders neither see nor use the Experian credit score. It is therefore meaningless and is nothing to worry about.

PRAISETHESUN

Ignore the score provided by Experian as this is meaningless. Every lender generates their own internal score based on the contents on your credit file, so what matters most is your credit HISTORY.

The problem with the 2000% utilisation will need to be addressed by Amex. I'm not sure how charge cards are supposed to be reported to the CRAs but there obviously seems to be an error on their part. You will need to contact them and explain the problem.

Out of curiosity, do you have the same issues with your credit files held by Equifax or TransUnion (formerly CallCredit)?

DFW240980

Thanks. I do understand the credit score should be taken with a big pinch of salt but my thinking is if a lender see's utilisation at 2000% then it might go against me. The other CRAs do report the balance but don't show a utilisation figure like Experian.

Willing2Learn

Are you looking at your credit file or are you looking at MSE Credit Club or Experian CreditExpert?

DFW240980

I'm looking at Experian CreditExpert.

Willing2Learn

Since you using Experian CreditExpert, then I would phone Experian and ask for an explanation...They offer phone support for subscribers...