Reply
Valued Contributor
jamesdwi
Posts: 1,443
Registered: ‎09-16-2011

Re: Amex Charge Card Balance


youngandcreditwrthy wrote:
You got a cld for carrying a balance on BCE?!?
What was the util on it?

using about 33% of the UTL on the card, always made more than the minimum payment was charging on the card as well so wasn't really going down, had cash flow issues, that are now resolved. overal utilization on all cards was about 27% but mostly on 6 cards or so and DW's card was near Maxed out but i'm only a AU on it for bill paying purposes.  Got a chase slate card about the same time for BT off the amex card which is now complete. And two other INQ's for other cards about the same time. 

 

Current UTL is at 24% and heading down, In the garden since Dec 4th, when all this was going on, starting to get nice CLI's from GE's and will get this mess under controll, I figure in 3-4 months I will be down below 15%, and no INQ's for 6+ months I will get my CLI and my AMEX blue will be at 6+ k again, and my scores will be north of 700, since 5 baddies have fallen off my reports, one early and I will only have one baddie a 6 year old medical collection. No lates on any credit card in the last 7 years... Only had credit again for 4 years.  

 

 


Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 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 4/26//2014 no plans for new credit I think I have enough.
Frequent Contributor
E150GT
Posts: 371
Registered: ‎12-30-2012

Re: Amex Charge Card Balance

so whats the consenus? I am going to apply for a CSP next month and I have an amex reporting on the 19th with about $1k. Should I pay it before it closes so I when I app it shows a $0 balance or should I let them see my monthly spending? Its my only card I spend on. 


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
Frequent Contributor
E150GT
Posts: 371
Registered: ‎12-30-2012

Re: Amex Charge Card Balance

bump


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
Established Contributor
cashnocredit
Posts: 959
Registered: ‎07-18-2009

Re: Amex Charge Card Balance

I've let a balance report on Amex that was more than all my CLs combined. It had zero effect on my FICO score, my VantageScore went up a bit, and some FAKOs went down while others were unchanged.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Frequent Contributor
E150GT
Posts: 371
Registered: ‎12-30-2012

Re: Amex Charge Card Balance

but what about when applying to more credit? would they see that as bad?


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
New Contributor
nagisa
Posts: 55
Registered: ‎10-28-2012

Re: Amex Charge Card Balance

I always let my PRG report, but Citi denied me because of a reported balance on my charge card once... it wasn't even that big.... like $1k *eyeroll*. I tried explaining to the CSR that it was a charge card and I'd paid it off already, but they still thought it was a revolved balance and did another HP to confirm I paid it off.

PNC Points Visa $3.3k (5/09), Amex PRG NPSP (9/10), Amex BCP $7.6k (10/12) -> $19.7k (3x CLI), Amazon Chase Visa $3.1k (10/12), Citi Forward Student $4k (11/12), Chase Southwest RR Premier $8k siggy (3/13 - 50k sign up bonus)

EX FICO 767 10/12
TU FAKO(? from Chase Amazon) 742/990 10/12
Established Contributor
cashnocredit
Posts: 959
Registered: ‎07-18-2009

Re: Amex Charge Card Balance


E150GT wrote:

but what about when applying to more credit? would they see that as bad?


No, with the possible exception of apping while the high balance is the same as the current balance. Once the current balance drops to normal levels it's all good. Also a strong indicator you can handle larger balances.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Frequent Contributor
E150GT
Posts: 371
Registered: ‎12-30-2012

Re: Amex Charge Card Balance

maybe ill pay half of it. My amex balance is pretty much the same every month give or a take a few dollars


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
Established Contributor
cashnocredit
Posts: 959
Registered: ‎07-18-2009

Re: Amex Charge Card Balance


E150GT wrote:

maybe ill pay half of it. My amex balance is pretty much the same every month give or a take a few dollars


Check your high balance. That's the key factor they will compare to the current balance on a manual review. My high balance is way over my usual Amex usage. It's one of the things I value about Amex. A great ability to do the occasional high spend on vacations or whatnot.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Frequent Contributor
E150GT
Posts: 371
Registered: ‎12-30-2012

Re: Amex Charge Card Balance


cashnocredit wrote:

E150GT wrote:

maybe ill pay half of it. My amex balance is pretty much the same every month give or a take a few dollars


Check your high balance. That's the key factor they will compare to the current balance on a manual review. My high balance is way over my usual Amex usage. It's one of the things I value about Amex. A great ability to do the occasional high spend on vacations or whatnot.


Experian is showing the statement balance as a high balance...


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+