Credit Cards

[angelnyc]

If it is a charge card I suggest all outstanding charges are PIF every month and you can make sure it's totally paid off (meaning you never get a balance) by paying all outstanding before your statement closing date (try to lay off using it a week before the statement close for any surprise charges that may pop up last minute).

Also I will disagree with many of the comments here suggesting paying a few times is not good, I have been doing that b/c sometimes I'm not sure if I'm going to use my card again so in my spare time I will pay off an outstanding charge just to be on top of the game, and AMEX has very much appreciated that (evidently and verbally), so much that they been raising my spending ability every few days right after the payments. Now I can't contest AMEX prefers one solid payment, but to say AMEX doesn't appreciate many payments is not accurate.

Also can anyone else confirm that once you get approved for an AMEX you have to wait a year to be approved for another or your denial reason would be "amex customer to short of time", that doesn't sound right.

[jsickz32]

@angelclaudio.
I was approved for bce then a week later applied for green and SPG, green approved but SPG denied. Reason short amount of time with amex. A month later i applied for PRGOLD and approved and on 9/12 i will go for the SPG again.

[jsickz32]

@saggy1
I dont think it matters if you make big payment or multiple payments. They dont care as long as they get their money period.

[angelnyc]

@jsickz32 OK good to hear that confirmation, I'm strongly considering in September to apply for BCP and then Garden for the next couple of years. Hope it's approved so I can just move on to the flowers and the bushes, fingers crossed...

[Crashem]

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saggy1 wrote:

Good to know.

I will just pif once the staement cuts from now on when it comes to my charge cards.

Does chase, bofa, discover, etc look at this the same way when it comes to their revolvers? Or is making payments on what you owe ok with them?

THX

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Not as much data on them.  In terms of FICO scoring for all revolvers (including AMEX), your reported balance (usually your statement balance) is what is reported to credit bureaus and is used in utilization calculations.  In terms of whether or not these non-AMEX lenders frown on lots of small payments for their internal scoring, it is hard to say.

[LilNYC]

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jsickz32 wrote:
@angelclaudio.
I was approved for bce then a week later applied for green and SPG, green approved but SPG denied. Reason short amount of time with amex. A month later i applied for PRGOLD and approved and on 9/12 i will go for the SPG again.

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I know this is off topic but what's the point of having a green & PRG? Green doesn't come with a signup bonus and only earns 1 pt/$1. Once the 1 st year ends you're going to have 2 AFs for no reason.

[jsickz32]

@lilnyc well i got the PRgold and was gona PC the green to the zync but when i called they told how i would be downgrading to the zync and blah blah blah so i kept it....the AFs dont bother me to be honest.

[angelnyc]

@lilnyc so why not cancel the green all together? AAoA?

[LilNYC]

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jsickz32 wrote:
@lilnyc well i got the PRgold and was gona PC the green to the zync but when i called they told how i would be downgrading to the zync and blah blah blah so i kept it....the AFs dont bother me to be honest.

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it actually makes sense to PC/ downgrade (or whatever Amex wants to call it) from Green to Zync for the bonus categories. Since you have have a PRG the points you would earn on the Zync would be full MR points. The free eco pack adds a ton of double points at more places than you would think- fresh direct, ikea, trader joe's, whole foods, fairway, a bunch of veg restaurants, etc. Even if you add some of the other packs it would likely be less than the $95 AF on the Green & you would earn 2-3 pts/$1 on certain purchases.

[jsickz32]

@lilnyc i know but for now i like seeing green next to gold in my wallet so im keeping it and ill pc it to zync down the road. Ive never been to any of those places you mentioned so..