Does an American Express gold card improve credit history?
On One Hand: Properly Used, It CanAn American Express gold card can be used to improve your credit history and credit score when properly used. American Express doesn’t report balances, so credit bureaus will usually use your highest balance paid for your “credit limit.” So if you spend and pay off $2,000 in a month, then never charge again, this will help your credit score since it reads as open credit and responsible use.On the Other: Can Hurt More Than HelpSince American Express doesn’t report a credit limit, if you never use the card it won’t help you. In addition, if you spend the same amount each month and pay it off, the credit bureaus will see that as maxing out your credit every month, which will damage your credit score.Bottom LineWhile the American Express gold card can improve your credit history when properly used over time, there are better options.
