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Today will be my first statement cut on my Amex Charge Card. I have charged over 2k (already made 1k in payments during the cycle). How will Amex report to 3 CRA? Will it report the balance and report after the statement finalizes and report around the time after the due date?
I am in process of applying for a mortgage and do not know whether the balance will show changing my UTIL and dropping my scores. The CS agent at Amex said, it will report as "0" once the payment is made but somwhow I do not believe her
Anyone can explain in more detail?
FYI, the account has yet to report to all 3 CRAs.
AMEX will report the balance on the statement or closing date. As long as your payment posts before the statement is generated it will report as 0.00.
@niko79 wrote:Today will be my first statement cut on my Amex Charge Card. I have charged over 2k (already made 1k in payments during the cycle). How will Amex report to 3 CRA? Will it report the balance and report after the statement finalizes and report around the time after the due date?
I am in process of applying for a mortgage and do not know whether the balance will show changing my UTIL and dropping my scores. The CS agent at Amex said, it will report as "0" once the payment is made but somwhow I do not believe her
Anyone can explain in more detail?
FYI, the account has yet to report to all 3 CRAs.
Charge card balances do not effect utilization calculations. It is however a factor in "number of accounts reporting balance" component as explained in this post and can affect the scores that way.