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Amex Charge Card Balance

Frequent Contributor

Amex Charge Card Balance

I know Charge Card doen't affect your utilization % but yesterday when It reported a 227 balance it drop my creditkarma score by 10pts! Do you guys pay off your charge card balance before statement or let it report?

$5k$4.5k$2.8k$8k$500
FICO = EQ: 786 (1/15) TU:774 (2/15) EX: 767 (2/15)
Message 1 of 23
22 REPLIES
Super Contributor

Re: Amex Charge Card Balance

You shouldn't worry about CK's point system.  Just use them for free monitoring and alerts.

Message 2 of 23
Super Contributor

Re: Amex Charge Card Balance


Open123 wrote:

You shouldn't worry about CK's point system.  Just use them for free monitoring and alerts.


+1000

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 23
Senior Contributor

Re: Amex Charge Card Balance


myjourney wrote:

Open123 wrote:

You shouldn't worry about CK's point system.  Just use them for free monitoring and alerts.


+1000



+ 10'000 

Move the mouse over the cards for detailed view!
....Last HP 01 NOV 2016...............
Message 4 of 23
Valued Contributor

Re: Amex Charge Card Balance


CredittotheMax wrote:

I know Charge Card doen't affect your utilization % but yesterday when It reported a 227 balance it drop my creditkarma score by 10pts! Do you guys pay off your charge card balance before statement or let it report?



I ALWAYS pay off my AMEX cards before the due date, sometimes making several payments a month depending on the card and charges.  I have never carried a balance on my charge cards, even though I have the pay over time option with the Gold. 

EX = 849 EQ = 850 TU = 850 as of 07/2017
Retired and Retiring Cards!
Message 5 of 23
Super Contributor

Re: Amex Charge Card Balance

Paying off before the statement is looked at two ways. A balance reporting can let an UW know you soent a lot of money that month, or it can report a high balance and give them an idea of what your internal limit is on the card.
Message 6 of 23
Frequent Contributor

Re: Amex Charge Card Balance

I didn't care much about CK score because my creditsecure score didn't change at all. I usually let my firstt balance post on all my credit cards, but most likely I'm gonna start paying before statement ends. 

$5k$4.5k$2.8k$8k$500
FICO = EQ: 786 (1/15) TU:774 (2/15) EX: 767 (2/15)
Message 7 of 23
Valued Contributor

Re: Amex Charge Card Balance


CredittotheMax wrote:

I know Charge Card doen't affect your utilization % but yesterday when It reported a 227 balance it drop my creditkarma score by 10pts! Do you guys pay off your charge card balance before statement or let it report?


This is the question I am strugling with tonight, I have a balance of $802 on my Zync card, the statement will cut tomorow, should I pay it now or wait for 2 days, or a week? In anycase the bill will be paid long before the due date.  I know published AMEX policy says they don't care just want to maximize my internal score with them.  I want a CLI on my AMEX Blue which I have been denied for twice now, once after a CLD for carying a balance during the zero percent period.   The money is sitting in my checking account as it has been as each charge was made earning interest.

 

BTW, just PIF  AMEX Blue 4 days before the statement close date, and won't be used again till next billing cycle. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 8 of 23
Senior Contributor

Re: Amex Charge Card Balance

You got a cld for carrying a balance on BCE?!?
What was the util on it?
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 9 of 23
Valued Contributor

Re: Amex Charge Card Balance

Even though it doesn't factor into utilisation, it still counts as an account with a balance. I would not be comfortable with a 5 or 10 thousand balance reporting, no matter what it did to utilisation.

 


Open123 wrote:

You shouldn't worry about CK's point system.  Just use them for free monitoring and alerts.


Chase frequently used the Vantage score, so that score is at least something to care about on there.

Message 10 of 23