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How to treat new AmEx

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ficojoe
Frequent Contributor

How to treat new AmEx

I just got my AmEX BCE in the mail today. So far I used it at the gas station, jack in the box, and online. How should I be treating this card? Can I use it for everything and pay it multiple times per month? What is the best usage pattern to get a CLI? I heard that too many payments in a month is not welcomed by AmEx? What behavior do I want to avoid to keep AmEx happy with me?

Message 1 of 30
29 REPLIES 29
webhopper
Moderator Emeritus

Re: How to treat new AmEx

Pay in full ... don't carry a balance... use for everyday spending. Don't use it to buy a car... other than that you're golden!
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 2 of 30
ficojoe
Frequent Contributor

Re: How to treat new AmEx


@webhopper wrote:
Pay in full ... don't carry a balance... use for everyday spending. Don't use it to buy a car... other than that you're golden!

How often should I pay in full? Is it true paying too often scares AmEx? On my other cards I try to always keep a $0 balance, which means sometimes I pay them off 10 times in a month.

Message 3 of 30
webhopper
Moderator Emeritus

Re: How to treat new AmEx

I pay my amex every other week. Sometimes I pay the same day from two different checking accounts since my balances are sometimes high. I would say pay between 2-4 times per month at most. There would likely be no adverse action for more.frequent payments other than.some might have to be "pushed" from your bank.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 4 of 30
trumpet-205
Valued Contributor

Re: How to treat new AmEx

AMEX's internal risk score prefers large payment vs multiple small payments. So answer to your question is try to consolidate your payment.

Message 5 of 30
JustinNguyen
Contributor

Re: How to treat new AmEx

they saying paying as much as you can.But don't pay more than you used lol

Message 6 of 30
RonDawg
Contributor

Re: How to treat new AmEx

To be honest when I got my card I would make a purchase and a payment on the same day.  Soon the "Check Spending" area on my account would allow me to authorize up to twice my credit limit, I find their charge cards work in the same way.  AmEx likes it when you make lots of payments at least from my experience anyways.  Oh and just so you know the purchases you make on your card this billing period will not earn cash back till the next billing period.  AmEx has some weird way they credit their points and cash back and it takes multiple billing cycles to get your earned cash back or points.

 

BTW congrats on getting a great card!

AMEX Platinum, AMEX Blue cash (10k), AMEX Delta (10k), US Bank Premier Line (14.5k), US Bank Cash + (7.5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (9.5k), Chase Sapphire Preferred (8k), Alerus Financial Visa Signature issued by Elan (10k), BofA Cash Rewards (10k), Citi Thankyou Pref (6.5k) TU FICO Score = 807, EQ FICO Score = 780, EX FICO Score = 780,
CreditKarma score = 785, CreditSesame score = 773, Vantage = 903
Message 7 of 30
distantarray
Established Contributor

Re: How to treat new AmEx


@ficojoe wrote:

I just got my AmEX BCE in the mail today. So far I used it at the gas station, jack in the box, and online. How should I be treating this card? Can I use it for everything and pay it multiple times per month? What is the best usage pattern to get a CLI? I heard that too many payments in a month is not welcomed by AmEx? What behavior do I want to avoid to keep AmEx happy with me?


Best way to get a CLI? charge up a lot, pay in full, sign up for auto pay, muliple payments don't hurt, Amex likes LARGE charges and LARGE payments =)

 

pretty much if you look like you need it, you'll get it.

 

Also how you should be treating your new Amex? with roses and flowers, and whisper sweet nothings in their ears.... and also get a NFC chip cause the card will look like crap in a wallet after a while, and laminate the card Smiley Very Happy jk jk


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 8 of 30
FrugalRican
Blogger

Re: How to treat new AmEx


@trumpet-205 wrote:

AMEX's internal risk score prefers large payment vs multiple small payments. So answer to your question is try to consolidate your payment.


This is EXACTLY why I only pay once a month and about 2-3 days before the statement cuts.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 9 of 30
Walt_K
Senior Contributor

Re: How to treat new AmEx


@FrugalRican wrote:

@trumpet-205 wrote:

AMEX's internal risk score prefers large payment vs multiple small payments. So answer to your question is try to consolidate your payment.


This is EXACTLY why I only pay once a month and about 2-3 days before the statement cuts.


How do we know this?  Is there any evidence of this besides conjecture on this board?  Maybe it has been discussed before, but I can only ever recall people stating this without providing support. 

I usually pay once per month because that is what is most convenient.  However, at various times I make multiple payments in a month.  Never went so far as to make 10 per month, but I don't know that it would matter if you did.  There are plenty of people that report paying weekly without any sort of problem.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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