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I have an amex bcp and I'm getting close to the 61 day CLI. However, I have a few questions about what amex likes to see on the report.
Current report is:
Overall utilization is 11%
Score when I got the amex was 730
***
5 inquiries (3 will be gone by november)
30 day late on march 2011.
I have 1 card that is around 80% utilization because I made a BT @ 0% interest (Slate card) and I'm letting it sit until it gets close to the limit in about a year
Chase Freedom is at 20% util
AMEX BCP is at 10% util, but have made charges that bring it up to around 19% util
The Freedom will be paid off, but will not report until next month. Can do the same with the AMEX.
Questions, what does AMEX like to see? Will the high util on that one card affect me? Do I have another chance at the 3x CLI if I get denied (how long)?
**Does Amex waive the annual fee for first year?
BCP does not waive AF, but AMEX does refund AF in prorate if you cancel/PC the card before annual mark.
@Croselx wrote:I have an amex bcp and I'm getting close to the 61 day CLI. However, I have a few questions about what amex likes to see on the report.
Current report is:
Overall utilization is 11%
Score when I got the amex was 730
***
5 inquiries (3 will be gone by november)
30 day late on march 2011.
@I have 1 card that is around 80% utilization because I made a BT @ 0% interest (Slate card) and I'm letting it sit until it gets close to the limit in about a year
Chase Freedom is at 20% util
AMEX BCP is at 10% util, but have made charges that bring it up to around 19% util
The Freedom will be paid off, but will not report until next month. Can do the same with the AMEX.
Questions, what does AMEX like to see? Will the high util on that one card affect me? Do I have another chance at the 3x CLI if I get denied (how long)?
**Does Amex waive the annual fee for first year?
I believe that chase has started to update accounts with the CRAs when their cards have been completely paid off regardless of when the statement cuts. Last month I zeroed out my freedom card mid-cycle and it reported a zero balance within a few days. In order to get it to report you can't just pay the last statement balance rather you must completely pay off the card.
@nmac wrote:
@Croselx wrote:I have an amex bcp and I'm getting close to the 61 day CLI. However, I have a few questions about what amex likes to see on the report.
Current report is:
Overall utilization is 11%
Score when I got the amex was 730
***
5 inquiries (3 will be gone by november)
30 day late on march 2011.
@I have 1 card that is around 80% utilization because I made a BT @ 0% interest (Slate card) and I'm letting it sit until it gets close to the limit in about a year
Chase Freedom is at 20% util
AMEX BCP is at 10% util, but have made charges that bring it up to around 19% util
The Freedom will be paid off, but will not report until next month. Can do the same with the AMEX.
Questions, what does AMEX like to see? Will the high util on that one card affect me? Do I have another chance at the 3x CLI if I get denied (how long)?
**Does Amex waive the annual fee for first year?
I believe that chase has started to update accounts with the CRAs when their cards have been completely paid off regardless of when the statement cuts. Last month I zeroed out my freedom card mid-cycle and it reported a zero balance within a few days. In order to get it to report you can't just pay the last statement balance rather you must completely pay off the card.
+1. I had something similar happen to this on my Freedom.
I paid the balance down to $0 three days before my statement cut and it was reported soon after the next day. However, I forgot I had a pending purchase which wound up posting right before the statement cut. However, I still had a few days where that $0 was reporting in-between the two statement balances (previous month's and new month's).