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Frequent Contributor
Jubeyy
Posts: 258
Registered: ‎06-03-2008

Amex minimum payment question

[ Edited ]
Hi, on my Amex online statement I have the 3 payment options of....min. payment.....balance due....or other amount. 
 
I can't pay off the whole balance at this moment but I am able to pay a little over the minimum due option.
 
This is my question...do you think selecting the minimum due option vs. the "other amount" option  (even if you pay just $20 more than the minimum)  triggers a computer alert.  Meaning, they see you are only paying the minimum due and see that as a bad thing?
 
 I hate Amex and want to pay this thing off and  throw it in the underwear drawer....that drawer is below the sock drawer.  
Message Edited by Jubeyy on 12-15-2008 04:47 PM
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Amex minimum payment question

I doubt that anyone knows this for a fact. And there's so much drama going on about AmEx, you could get any sort of response.

I suppose my attitude would be that if I could pay over the minimum, even if only $20, I'd go with that. Possible short-term discomfort, due to less cash available for other things, but long-term bennies of owing that much less.

This is a revolver you're asking about, right? Not a charge card?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
score_building
Posts: 3,513
Registered: ‎01-10-2008

Re: Amex minimum payment question

reportedly some banks track minimum payments.  there's no telling how many of these and in what combination with other factors can lead to adverse action.

wamu cc website for example shows a check box listing your last three payments were either the minimum, above it, or below it.  i would be surprised if amex wasn't also keeping a close watch.

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06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
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Chopbrocoli
Posts: 805
Registered: ‎05-11-2007

Re: Amex minimum payment question

AMEX has invested soo much into risk assesment software, its come to the point where its nit picky to every last bit of information that it obtains on its customers. Wheter its a late payment from 4 years ago, charge off, over the limit, and etc etc. I would not be suprised if AMEX were to factor in whether you make minimm pymt, other amount, or BIF into how they rate your risk.
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Frequent Contributor
Jubeyy
Posts: 258
Registered: ‎06-03-2008

Re: Amex minimum payment question


haulingthescoreup wrote:
I doubt that anyone knows this for a fact. And there's so much drama going on about AmEx, you could get any sort of response.

I suppose my attitude would be that if I could pay over the minimum, even if only $20, I'd go with that. Possible short-term discomfort, due to less cash available for other things, but long-term bennies of owing that much less.

This is a revolver you're asking about, right? Not a charge card?
Yah, it's Delta

 

Valued Contributor
stef37
Posts: 2,205
Registered: ‎12-06-2007

Re: Amex minimum payment question

This is not related to Amex.  But during a conversation with an analyst at BoA, he said I had done well with my account. He did mention that it was always recommended to pay over the minimum, even if it is just $5 more. He said the software would read the account as paying more than minimum and that is a good thing. So, yes, some companies do track this and if BoA is, and am pretty sure Amex is too. So as has been discussed here, to pay the minimum only, especially over a long period of  time, does tend to flag accounts with certain companies.

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