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Established Member
ericksond
Posts: 19
Registered: ‎04-30-2008

FYI: AMEX Green posted total accrued balance not cut-off balance!

Just FYI, I followed fused's advice below:



fused wrote:
here's the skinny with charge cards like Amex:


1.) EX: make sure it reports as revolving, terms 1 month; if it reports like this it will not count in util calculations


2.) EQ: make sure it reports as other open account; if it reports like this it will not not count in util calculations


3.) TU: the current scoring model includes no limit charge cards in util, no matter what you do


My advice to you is pay off your green card before your statement cuts, so Amex will report a $0 balance or a very small balance and this will help your TU score.





but unfortunately, AMEX posted the total accrued balance for the month instead of the cut-off balance.

I made sure that five days before the cut-off date my balance is $0 and when the statement was closed yesterday, the balance was $23. When I pulled out my reports from TC, AMEX reported to all three CRAs the balance as $1537.

Poor TU, will probably get the beating out of this. LOL. :smileytongue:
Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007

Re: FYI: AMEX Green posted total accrued balance not cut-off balance!



ericksond wrote:
Just FYI, I followed fused's advice below:


I made sure that five days before the cut-off date my balance is $0 and when the statement was closed yesterday, the balance was $23. When I pulled out my reports from TC, AMEX reported to all three CRAs the balance as $1537.

You probably won't see that $23 show up on your reports 'til NEXT month; AmEx seems to report the PREVIOUS month's balance (that's what they're always doing on mine; I've been at 0 for weeks and was at 0 when mine got reported earlier this month, but my updated reports showed last month's blasted balance.  Argh), so if your balance was $1537 when your statement cut last month, that's what's going on.
 
If not, then I'm not sure what they're doing, on your account!
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
Mega Contributor
Creditaddict
Posts: 18,598
Registered: ‎10-23-2007

Re: FYI: AMEX Green posted total accrued balance not cut-off balance!

Amex green doesn't report in your util though so why are you worried about it?
Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Established Member
ericksond
Posts: 19
Registered: ‎04-30-2008

Re: FYI: AMEX Green posted total accrued balance not cut-off balance!

Not really worried. It's a good-to-know thing. Though fused did say that:
 
3.) Transunion: the current scoring model includes no limit charge cards in util, no matter what you do
 
:smileyhappy:

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