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Amex Platinum Question.

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plasticcards
New Contributor

Amex Platinum Question.

So I got my card a week ago or so. I put about $400 dollars on it. Should I pay what i put it right away? Or wait till I get a due date etc? Will that help not get a FR If they see I pay right away? 

Message 1 of 10
9 REPLIES 9
longtimelurker
Epic Contributor

Re: Amex Platinum Question.


@plasticcards wrote:

So I got my card a week ago or so. I put about $400 dollars on it. Should I pay what i put it right away? Or wait till I get a due date etc? Will that help not get a FR If they see I pay right away? 


Too late!  You will get FR'd and you and your family will be banned from credit for life.

 

Or....  don't worry.   FRs are extremely rare and your behavior does nothing to trigger it. You got a card and used it.  $400 is hardly a worrying amount for them.   Just pay by the due date.

Message 2 of 10
subsnao
Regular Contributor

Re: Amex Platinum Question.


@plasticcards wrote:

So I got my card a week ago or so. I put about $400 dollars on it. Should I pay what i put it right away? Or wait till I get a due date etc? Will that help not get a FR If they see I pay right away? 


People are really waaaaaaaaaaaaaaaay too worried about AMEX FR. As long as you didn't severely overstate your income on the app and can pay all of your charges by the due date, then you have nothing to worry about. If you were to go and charge $10k in a month when your spending pattern has been say $1-3K per month, then that might trigger a red flag and a possible FR as you have really changed your spending. As long as you can afford your purchases, you have nothing to worry about.


In the garden as of 2/22/2015
Scores:
TU: 753 (Discover FICO 7/2014) EQ: 721 (FICO 4/2014) EX: 723 (FICO 3/2014)
Age: 21
Message 3 of 10
09Lexie
Moderator Emerita

Re: Amex Platinum Question.

Message 4 of 10
BMW_M-Series
New Contributor

Re: Amex Platinum Question.

the 1st billing cycle with amex platinum only lets you pay a couple times. i charged mine up to aobut 4k in a couple days, then paid it in full. had it back up to 3k and went to pay it and they told me for the 1st month i couldnt because i had to wait for the 1st payment to clear. that took about 10 days. then i made a payment again and had to wait 10 more days for it to clear. kind of annoying because i dont like any balances posting to my credit report. dont worry about an FR, they are not very common

Chase Sapphire Preferred - American Express Platinum - American Express PRG -American Express SPG -American Express BCP - BofA Cash Rewards Visa Siggy - Citi TYP - Discover IT - PenFed Gold

In Garden
Message 5 of 10
mongstradamus
Super Contributor

Re: Amex Platinum Question.


@BMW_M-Series wrote:

the 1st billing cycle with amex platinum only lets you pay a couple times. i charged mine up to aobut 4k in a couple days, then paid it in full. had it back up to 3k and went to pay it and they told me for the 1st month i couldnt because i had to wait for the 1st payment to clear. that took about 10 days. then i made a payment again and had to wait 10 more days for it to clear. kind of annoying because i dont like any balances posting to my credit report. dont worry about an FR, they are not very common


Correct me if i am wrong , but you could do bill pay thru your bank/cu to push payments multiple times an month, so you can make sure your utilization is very low. You can also push an payment that exceeds your present balance if you are worried about an balance reporting. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 6 of 10
BMW_M-Series
New Contributor

Re: Amex Platinum Question.

ive never thought of that but it seems like that would work. good to know

Chase Sapphire Preferred - American Express Platinum - American Express PRG -American Express SPG -American Express BCP - BofA Cash Rewards Visa Siggy - Citi TYP - Discover IT - PenFed Gold

In Garden
Message 7 of 10
red259
Super Contributor

Re: Amex Platinum Question.


@plasticcards wrote:

So I got my card a week ago or so. I put about $400 dollars on it. Should I pay what i put it right away? Or wait till I get a due date etc? Will that help not get a FR If they see I pay right away? 


Not sure why you think you would get a FR. If you pay your bill immediately after every single charge you could trigger unwanted attention though. Not sure if lenders raise a flag on that type of thing due to the worry about money laundering or something else (even then I don't know that their response would be a FR vs just looking at your account activity). I would just use the card as needed and if your balance starts to get kinda high you can pay it down to free up more credit. I tend to pay one of my cards down 2-3 times per cycle due to the lower limit making it hard for me to do all my spending without coming close to maxing it out. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 8 of 10
red259
Super Contributor

Re: Amex Platinum Question.


@mongstradamus wrote:

@BMW_M-Series wrote:

the 1st billing cycle with amex platinum only lets you pay a couple times. i charged mine up to aobut 4k in a couple days, then paid it in full. had it back up to 3k and went to pay it and they told me for the 1st month i couldnt because i had to wait for the 1st payment to clear. that took about 10 days. then i made a payment again and had to wait 10 more days for it to clear. kind of annoying because i dont like any balances posting to my credit report. dont worry about an FR, they are not very common


Correct me if i am wrong , but you could do bill pay thru your bank/cu to push payments multiple times an month, so you can make sure your utilization is very low. You can also push an payment that exceeds your present balance if you are worried about an balance reporting. 


+1 I use this trick often when the CC companies will not let me payoff the pending charges and I only have a few days left in the statement cycle. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 9 of 10
takeshi74
Senior Contributor

Re: Amex Platinum Question.


@plasticcards wrote:

So I got my card a week ago or so. I put about $400 dollars on it. Should I pay what i put it right away? Or wait till I get a due date etc? Will that help not get a FR If they see I pay right away? 


Doesn't really matter.  You can do whatever suits you best.

 

I can't see a charge for less than the AF triggering a FR.

Message 10 of 10
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