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Regular Contributor
Posts: 207
Registered: ‎11-26-2012
0

Amex Paying in Full..Myth?

I keep seeing new comers ask the question and then being told they must treat it like a charge card and pif. Ive had the card for about 5-6 months and have always carried a 1-2k balance and pay about 200 dollars a month and have had no problem. I want someone who has had a negative issue with amex because of carrying a balance that can come and post their story. I honestly think people are just way to paranoid about pif and that amex truly could give two **bleep**s..hence why someone chose their revolver over their charge card to begin with. SO someone with a story that has nothing to do with ANYTHING ELSE ON THEIR CR please post their story.

 

And I know this is kind of like a rant but its frustrating to see so many people post about pif when I honestly think it makes no difference in your relationship with amex.

Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
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Re: Amex Paying in Full..Myth?

I haven't had an experience but I tend to treat them as charge cards. I don't like to carry balance on any other card either. The think I've read is that Amex tends to get stuck in the past and since they started with charge cards they use the same principles as they developed with them on their revolvers.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
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Re: Amex Paying in Full..Myth?

I recently charged $2000 on my $10,500 line and just paid $200 of my $741 statement balance. Amex likes to make interest money too!! (mine's at 0% for a year though haha will be pif before that obvi)! I think they are just like any other creditor in that they get concerned when overall util spikes or you open a sh*t ton of new accounts and add more and more credit and inqs!!! And of course, maxxing out a credit card is NEVER a good idea!!!  Good luck all :-)

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
Valued Contributor
Posts: 1,997
Registered: ‎01-24-2012
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Re: Amex Paying in Full..Myth?

I have carried a 2900 balance on the Simply Cash card from them for the past six months since it was at zero interest. I am going to pay it off on the 10th and will see if anything happens. I really couldn't care less if they closed either account I have with them, as I can get 5% off Federal Express another way. Anyway, if they did not like people carrying balances, they would not offer zero interest periods.

Regular Contributor
Posts: 369
Registered: ‎02-01-2010
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Re: Amex Paying in Full..Myth?

Interesting question....I have wondered about this as well. With my BCP, I sometimes pif and other times carry a balance. Last statement balance was approx 1300.00 and I've paid 900.00. I have no intention of making another payment before the next statement cuts. I've never had any issues with AmEx but have had the card for only 5 months. Since I have 0% apr right now, I just do what's convenient for me as long as I adhere to the terms.

 

My personal belief is that If you carry a balance and only make minimum payments or close to, you might worry AmEx. It's probably fine if you carry a balance but don't appear to be struggling.

Meg.

FICO: 03/2015 - TU 768 | EQ 783 | EX 775

FNBO 15,100 | Barclays / Sallie Mae World MC 13,000 | Lowes 10,000 | LOC 9,300 | Amex BCP 7,200 | BOA Platinum+ 6,000 | Amex SPG 5,700 | Achieva CU 5,500 | Discover IT 5,500 | Citi Simplicity 5,200 | Chase CSP 5,000 | Sam's Club 3,000 | Sears 900
New Member
Posts: 2
Registered: ‎12-27-2012
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Re: Amex Paying in Full..Myth?


lionsfan20 wrote:

I keep seeing new comers ask the question and then being told they must treat it like a charge card and pif. Ive had the card for about 5-6 months and have always carried a 1-2k balance and pay about 200 dollars a month and have had no problem. I want someone who has had a negative issue with amex because of carrying a balance that can come and post their story. I honestly think people are just way to paranoid about pif and that amex truly could give two **bleep**s..hence why someone chose their revolver over their charge card to begin with. SO someone with a story that has nothing to do with ANYTHING ELSE ON THEIR CR please post their story.

 

And I know this is kind of like a rant but its frustrating to see so many people post about pif when I honestly think it makes no difference in your relationship with amex.


hi, lionsfan

 i agree that if you carry balance on amex revolver card . there is no problem with that., because it's revoling cad  they wont close your account or decrease cl. but for new comer. if one ask for cli. especially 3x cli after 1st  60 days  the pif payment pattern will help more chance to get approved more than carry balance. infact amex

will calculate your chance for cli approving by using many factors like  aaoa , income , spending habits , etc.. but one important factor is payment habbit.  amex like 

to get pif  more than carry balance   imx.    this is just one opinion. any one?

Contributor
Posts: 97
Registered: ‎10-03-2012
0

Re: Amex Paying in Full..Myth?

I feel the same way. I've carried tremendous balances but I always had the cash and paid in huge installements in 2-3 months. 

 

The same emotion goes towards "building a relationship"with a bank, at the end of the day you're just a number that is suppose to be doing certain things like pay bills on time; kinda like when kids say "I've been outta trouble" or "I haven't gone to jail"....no **bleep** sherlock you're SUPPOSE to be outta jail and trouble. I've been with chase since I was 18. They treat me like everyone else except for maybe always footing the bill when I need a new debit/credit card. End rant. 

Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
0

Re: Amex Paying in Full..Myth?

It's not just Amex. I read a thread where a chase underwriter was talking and they say they are instructed to treat PIF people as gold. There is zero risk for them with these people and they still get merchant fees and partner kickbacks.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Amex Paying in Full..Myth?


BearOSO wrote:

I feel the same way. I've carried tremendous balances but I always had the cash and paid in huge installements in 2-3 months. 

 

The same emotion goes towards "building a relationship"with a bank, at the end of the day you're just a number that is suppose to be doing certain things like pay bills on time; kinda like when kids say "I've been outta trouble" or "I haven't gone to jail"....no **bleep** sherlock you're SUPPOSE to be outta jail and trouble. I've been with chase since I was 18. They treat me like everyone else except for maybe always footing the bill when I need a new debit/credit card. End rant. 


Re building a relationship, I struggled not to rant at a post yesterday, someone getting a CLI from US Bank:

 

The letter I received today stated, "Congratulations, We are please to inform you that in recognition of the exceptional way you handle your account, we have increased your revolve line to $15,000.  Thank you for choosing the US Bank Cash+  Visa Signature Card.".   I thought it was nice that they went out of their way to send me this letter.   Just thought I would share it with you all.

 


Sounds like the poster thinks that someone at the bank reviewed the activity, thought "Wow, he/she has really handled the account in an exceptional way.  Let me go write a letter.  Extra effort for me, but she/he deserves it".   As compared to a computer-generated CLI letter....

Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: Amex Paying in Full..Myth?

I pif my first two statements and got my 61 day 3xcli ;-)

 

I think for most creditors, if you pif the first two statements.. they will be very generous with you. Ime, ANY TIME I've paid the first two statment balances, I've ALWAYS gotten auto clis on the third statements!!!

 

My Amazon, Chevron, Paypal, and Amex cards were all PIF the first two statements.. and all got CLIs by the third statement! :-) I'm a sucker for 0% interest though... and am well aware of the time value of money.. so I tend to take advantage of credit when the interest is 0% haha as I can get 10-20% on investments!!! ;-)

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
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