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New Contributor
Posts: 104
Registered: ‎04-13-2008
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Does Amex report monthly?

I have an amex card, and I paid it off prior to the billing cycle so I have a 0 balance, but it has not shown the payment and it's been at least 6 weeks.  Do they report only bi monthly, can they do that?  Should I call and ask for them to update?
Epic Contributor
Posts: 29,450
Registered: ‎10-23-2007
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Re: Does Amex report monthly?

they report monthly 1 month behind what is on your account I believe is how it works
Established Contributor
Posts: 805
Registered: ‎05-11-2007
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Re: Does Amex report monthly?

If memory serves me right, I believe for charge cards, they report the balance bi-monthy. And yes they can do it.
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Regular Contributor
Posts: 181
Registered: ‎12-11-2008
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Re: Does Amex report monthly?

Creditaddict wrote:
they report monthly 1 month behind what is on your account I believe is how it works

Yes, that's correct.  I don't know why they're so behind the times.  All my other cards report 5 days after my current statement cuts.

Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
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Re: Does Amex report monthly?

For those going cross-eyed trying to figure out the AmEx updating pattern:

Let's say that your statement date is, oh let's say, on the 16th of the month. (Why yes, that happens to be my AmEx statement date.) On January 16, we'll say that you had a balance of $100 report.

On February 14, AmEx will report this Jan 16 $100 balance to the credit bureaus.

Two days later, on Feb 16, AmEx will cut a new statement, with whatever your balance is then. On March 14, they will update the credit bureaus with that figure.

What this essentially means is that if you allow a balance to report on AmEx, even if you get it back to a $0 balance on the next month's statement, the original balance will still be showing 2 months minus two days after it originally appeared on your statement. So that $100 balance that popped up on your January 16 statement can't be erased until March 14 at the earliest.

For those who play the game of controlling how many cards and how high a balance reports, you probably want to make AmEx one of your always-$0 cards. For everyone else, if you're headed for a mortgage or anything, do realize that there is an effective 2 month+ turnaround time with American Express. Smiley Tongue
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