AMEX 3xCLI and util?

[megaman1]

If I plan to apply for the AMEX 3xCLI soon, how should I have my CC's setup? Should I keep discover reporting 0%, Chase reporting 0%, and then have AMEX reporting 1-9%, or does it really not matter as long as only 1 card is reporting and all others being 0%?

[daybreakgonesXe]

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@megaman1 wrote:
If I plan to apply for the AMEX 3xCLI soon, how should I have my CC's setup? Should I keep discover reporting 0%, Chase reporting 0%, and then have AMEX reporting 1-9%, or does it really not matter as long as only 1 card is reporting and all others being 0%?

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The latter is fine; whichever card you would like reporting a balance, feel free to make it that one and all the others 0%.

I don't remember any statistics on this site showing a balance had to be on AMEX for best results, but I would try going through the AMEX 3x CLI Guide thread to double-check!

[gdale6]

Any of your cards would be fine for the 1-9% of its CL reporting, I would switch them around each month so all end up reporting a small balance every 6 months or so.

[Blackrv7]

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@megaman1 wrote:
If I plan to apply for the AMEX 3xCLI soon, how should I have my CC's setup? Should I keep discover reporting 0%, Chase reporting 0%, and then have AMEX reporting 1-9%, or does it really not matter as long as only 1 card is reporting and all others being 0%?

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I don't think it's really going to matter, Amex knows how you've been using the card.  My Amex was 0 when I 3x'ed but in the long haul it's best to rotate reporting cards.

[megaman1]

Why is it important to rotate my cards for reporting?

[enharu]

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@megaman1 wrote:

Why is it important to rotate my cards for reporting?

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possibly because you want to show the lender(s) that you are actually using the credit that has been extended to you.

Not a big deal for most people, but there are instances where people have been denied because lenders feel that those people are applying for the sake of applying, with no intention of actually using the card once the sign-up bonus is exhausted.

[indiolatino61]

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@megaman1 wrote:
If I plan to apply for the AMEX 3xCLI soon, how should I have my CC's setup? Should I keep discover reporting 0%, Chase reporting 0%, and then have AMEX reporting 1-9%, or does it really not matter as long as only 1 card is reporting and all others being 0%?

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I don't think it matters much, but I tend to have the balance at zero for the card I'm asking the CLI. Good luck to you.

[Fico2Go]

Well I have zero across the board except for AMEX.  I am about $50 from maxing my $3000 Line and my 61 days for CLI is near.  Still debating whether to PIF before statement date or let it report and then pay PIF.   

My thinking is that if I let it report it could effect my scores for SPing. 

[Blackrv7]

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@megaman1 wrote:

Why is it important to rotate my cards for reporting?

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There has been some posts that if you slip up and have a card, that has never reported, report it does cause a hit on your score. May be a good thread on it's own to start.