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Regular Contributor
Posts: 169
Registered: ‎03-29-2012
0

Amex Charge question

Hey all, I have the Amex Zync card that I use for my daily for my purchases.  My question is, we are going in for our mortgage preapproval in a few weeks and trying to figure out how it reports to the CRA's.  I have the 500 hard cap and I'm trying to figure out if this is going to show up on my CR as a balance of 500, and min payment 500.  Reason I'm asking is the reported "min payment" will be factored in my DTI.  If it reports 500 and a min payment of 500 I'm in trouble, so I would need to pay it before statement cuts. 

 

Any help is GREATLY appreciated

 


Starting Score: EQ 619
Current Score: EQ 735, TU 732, EX 745(Lender Pulled)
Goal Score: EQ 700


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Valued Contributor
Posts: 1,248
Registered: ‎07-18-2009
0

Re: Amex Charge question

Whatever the balance is will show up. That's it. Amex reports terms as "1 Month" since it's all due then.


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so my moniker is, well, rather out of date.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 Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Amex Charge question

 

It will report as a credit limit of N/A.   I have the $200 hard limit ZYNC and it reports just like a NPSL charge card.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Regular Contributor
Posts: 169
Registered: ‎03-29-2012
0

Re: Amex Charge question

I'm more concerned with how the card reports the balance/minimum payment.  If I pay it on the due date which is 15 days after statement cut, is it going to show up on my credit report as balance 500, min payment 500?  The min payment is what I'm concerned with.  i can't have a 500 dollar min payment due, that will kill my DTI


Starting Score: EQ 619
Current Score: EQ 735, TU 732, EX 745(Lender Pulled)
Goal Score: EQ 700


Take the FICO Fitness Challenge
Valued Contributor
Posts: 1,927
Registered: ‎06-21-2012
0

Re: Amex Charge question

Mine just reports the balance due, no minimum payment or credit limit.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
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Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Amex Charge question

 

Same here, the monthly payment shows $0.   Only the balance shows.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

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