Reply
Established Member
Posts: 19
Registered: ‎04-30-2008
0

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
Posts: 2,791
Registered: ‎03-18-2007
0

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
Epic Contributor
Posts: 23,791
Registered: ‎10-23-2007
0

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- 662., TU 684 Barclay, EX 700 (3/21/15)

You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
72 Cards and Counting :smileytongue:
Established Member
Posts: 19
Registered: ‎04-30-2008
0

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:
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.