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Frequent Contributor
Posts: 270
Registered: ‎01-01-2013
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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?

$3.5k$4.5k$2k$4k$2k

FICO = EQ: 729 (6/13) TU:744 (12/27) EX: ?
Senior Contributor
Posts: 4,329
Registered: ‎02-23-2011
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Re: Amex Charge Card Balance

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

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Posts: 26,694
Registered: ‎02-07-2013
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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

"Intelligence plus character--that is the goal of true education"
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Senior Contributor
Posts: 3,473
Registered: ‎11-13-2012
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Re: Amex Charge Card Balance

[ Edited ]

myjourney wrote:

Open123 wrote:

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


+1000



+ 10'000 

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Valued Contributor
Posts: 1,397
Registered: ‎08-30-2011
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Re: Amex Charge Card Balance

[ Edited ]

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. 

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015
Senior Contributor
Posts: 4,580
Registered: ‎12-11-2011
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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.
;
Frequent Contributor
Posts: 270
Registered: ‎01-01-2013
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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. 

$3.5k$4.5k$2k$4k$2k

FICO = EQ: 729 (6/13) TU:744 (12/27) EX: ?
Valued Contributor
Posts: 1,971
Registered: ‎09-16-2011
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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 & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 12/15/2014
Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
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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| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Posts: 1,954
Registered: ‎01-24-2012
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Re: Amex Charge Card Balance

[ Edited ]

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.

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