AMEX BCP Question

[Credit_hawk]

Hey guys,

Want your opinion on a quick question. I'm new to AMEX and have a low SL on my BCP. It is my lowest limit card by several thousand. They started me at $2k. I'm not used to such a low limit and I'm hitting the ceiling quick. 

My BCP closes tomorrow. I'm at $1,500 of the $2,000. I was planning on just letting it close with that high utilization and then just paying in full on Monday. I thought as it's my second month with them this will send the point across come CLI time that it's too low for my spending habits though this point may be unnecessary.

Should I make a $500 payment today and let it close at $1000/$2000 or is it no big deal and just let it close at $1,500/$2,000.

I feel silly asking in a way but I'm just not used to having such a low limit and never go high utilization on anything. I'd be at 75% utilization on that AMEX card but <1% overall. AMEX still hasn't reported to my CB's yet but will soon I suspect. So, should I leave it or make a payment before close?

Thanks!

[kdm31091]

Don't think it's really a big deal either way. I think we read into these things a lot more than creditors do. Either way you are showing usage and payments and that's all you can really do.

[takeshi74]

It's not about usage.  It's about what your credit profile and income qualify for versus any product's critieria.  If you want a CLI and you're not getting it then you need to address the issue(s) that the creditor has with your creidt profile.  Allowing a high balance to report isn't going to get you the CLI.

[Anonymous]

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@Credit_hawk wrote:

Hey guys,

Want your opinion on a quick question. I'm new to AMEX and have a low SL on my BCP. It is my lowest limit card by several thousand. They started me at $2k. I'm not used to such a low limit and I'm hitting the ceiling quick. 

My BCP closes tomorrow. I'm at $1,500 of the $2,000. I was planning on just letting it close with that high utilization and then just paying in full on Monday. I thought as it's my second month with them this will send the point across come CLI time that it's too low for my spending habits though this point may be unnecessary.

Should I make a $500 payment today and let it close at $1000/$2000 or is it no big deal and just let it close at $1,500/$2,000.

I feel silly asking in a way but I'm just not used to having such a low limit and never go high utilization on anything. I'd be at 75% utilization on that AMEX card but <1% overall. AMEX still hasn't reported to my CB's yet but will soon I suspect. So, should I leave it or make a payment before close?

Thanks!

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Use monthly and PIF after 61 day request a 3x CLI so in your case request a total credit limit of 6000.00 then request again every 181 days till it is at the limit you want.

[Credit_hawk]

Thanks guys! I'll leave it. I agree, Kev, I'm reading too much into it.