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wrw0010
Posts: 52
Registered: ‎03-05-2007
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Amex Payments and Reporting

I just received an Amex Delta Skymiles card and I plan on PIF every month. However, if Amex reports whatever the statement balance is to the CRAs, won't this make it look like I'm carrying a significant balance even though the reality is that I am carrying none?
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MeganML84
Posts: 388
Registered: ‎09-06-2007
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Re: Amex Payments and Reporting

I would think that is why you should know what date AmEx reports to the CRBs, that way you can pay the balance down to 1-9% before it reports, yet you can still charge as much as you want. Just make sure >10% gets reported to the bureaus.
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wrw0010
Posts: 52
Registered: ‎03-05-2007
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Re: Amex Payments and Reporting

Does anyone know when Amex reports to the CRAs? Is it right after the statement date or end of the calendar month?
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Brammy
Posts: 5,436
Registered: ‎03-10-2007
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Re: Amex Payments and Reporting

There re plenty of Amex cardholders here.  Its not only important to know what date they report but also if they report the statement balance or the balance as of the date of reporting.  For those that report statement balance I sched my payments to post BEFORE the statement date so they reflect a 0 balance.
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SpecFile
Posts: 1,370
Registered: ‎08-07-2007
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Re: Amex Payments and Reporting



Brammy wrote:
 For those that report statement balance I sched my payments to post BEFORE the statement date so they reflect a 0 balance.


I thought it wasn't good to have a $0 balance reporting to the CRAs!!:smileysurprised:
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andyaycw
Posts: 298
Registered: ‎07-25-2007
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Re: Amex Payments and Reporting

For me, they report my statement balance several days after my statement closes. However, they usually report one month behind.

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Brammy
Posts: 5,436
Registered: ‎03-10-2007
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Re: Amex Payments and Reporting

[ Edited ]


SpecFile wrote:


Brammy wrote:
 For those that report statement balance I sched my payments to post BEFORE the statement date so they reflect a 0 balance.


I thought it wasn't good to have a $0 balance reporting to the CRAs!!:smileysurprised:


 
That depends on a lot of things.  If you have several accounts reporting a balancethat can count against you.  I usually have a few reporting balances and some that don't.  For low-rate Bts an such they will always report a balance for those that I PIF each month, I try not t let them show a balance or I rotat which one month to month will show a balance.



Message Edited by Brammy on 10-03-2007 04:22 PM
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fused
Posts: 16,373
Registered: ‎03-12-2007
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Re: Amex Payments and Reporting



wrw0010 wrote:
Does anyone know when Amex reports to the CRAs? Is it right after the statement date or end of the calendar month?


Both my Gold and Blue are reported shorly after the statement date and statement balances are reported.
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FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
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wrw0010
Posts: 52
Registered: ‎03-05-2007
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Re: Amex Payments and Reporting

So I should try to pay off shortly before the statement?
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fused
Posts: 16,373
Registered: ‎03-12-2007
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Re: Amex Payments and Reporting



wrw0010 wrote:
So I should try to pay off shortly before the statement?


Yes, if you wanna save money and have a lower balance or PIF balance reported.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1


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