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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012

Re: How to treat new AmEx

We don't know this, but I leave nothing to chance. I take it on faith, just like I do many other things in life.

Plus, it's much more convenient to have just one reminder a month to pay a card, rather than trying to keep up with it every week.

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)

Frequent Contributor
adavis425
Posts: 475
Registered: ‎02-14-2012

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.


+1

This is what I have done for 11+ years and also what I have read here on the forum. Just one payment.

AmEx Platinum | AmEx BCP | AmEx Delta Gold | CSP | Chase Freedom | NFCU cashRewards Visa Sig | NFCU Plat MC | WM Discover | Discover it | JCP


Frequent Contributor
TheConductor
Posts: 421
Registered: ‎07-24-2012

Re: How to treat new AmEx


distantarray wrote:


Amex likes LARGE charges and LARGE payments =)

 

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

 

 


This!  Really, the way to treat your new AmEx is like it says on the card....use it for your Everyday spending. If you're spending a lot, they'll want you to spend more. Especially if you're making big purchases.

 

They seem to not only bucket people by risk, but by lifestyle...and both of those factor into what you get when you Check Spending Ability.

 

 

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12) Current: EQ 675 (myFICO 9/26/13), EX 712 (CreditSesame FAKO 10/9/13) , TU 696 (WalMart 10/3/13) Goal: 700+ x3
My Wallet: Amex BCP $10k, Amex Zync NPSL (> 10k), Chase CSP VS $9.2k, C1 Venture VS $5k, Amex SPG $4.5k, Barclaycard Apple V $2k, Walmart (Store) $1.2k, Chase Freedom V $600, BoA Cash Rewards V $500, Best Buy Rewards MC $500
Dream Wallet:Barclaycard Arrival WMC (replace C1 Venture), Amex Platinum (replace Zync eventually), Andrews FCU Global V (chip + PIN for travel). Otherwise, pretty happy with my portfolio now.
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: How to treat new AmEx

+1

Valued Contributor
armbenderc
Posts: 1,337
Registered: ‎09-11-2012

Re: How to treat new AmEx

I enrolled in autopay and make bi weekly payment for my Amex Green card. I always PIF before statement cut (don't know if this will help). I also have multiple checking accounts listed on payment center with them. :smileysurprised:

 

I hope to get BCE/P with them in early 2013.

 

Is the underwriting the same on BCE/P?

 

Thanks

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Valued Contributor
Repo-ed
Posts: 2,949
Registered: ‎02-09-2012

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.


+1

 

Moderator
Revelate
Posts: 6,758
Registered: ‎12-30-2011

Re: How to treat new AmEx

Re: BCE/BCP underwriting: nearly or exactly identical. Has been suggested that the BCP is easier because it has an AF but hasn't been much to support it.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 672, Wally TU 686, EX 702 (04/14)
Goal Score: 700 in all three (01/01/15)


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Frequent Contributor
ficojoe
Posts: 307
Registered: ‎07-21-2012

Re: How to treat new AmEx


TheConductor wrote:

distantarray wrote:


Amex likes LARGE charges and LARGE payments =)

 

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

 

 


They seem to not only bucket people by risk, but by lifestyle...and both of those factor into what you get when you Check Spending Ability.

 


Yesterday I used the card for a $1.50 to buy a hot dog and $3.50 at Jack in the Box. Does that put me into a crappy lifestyle bucket? :smileyhappy:

Seriously, should I not charge some things so I get in the right bucket?

 

I also spent $300 online and bought gas...

Frequent Contributor
ficojoe
Posts: 307
Registered: ‎07-21-2012

Re: How to treat new AmEx


armbenderc wrote:

I enrolled in autopay and make bi weekly payment for my Amex Green card. I always PIF before statement cut (don't know if this will help). I also have multiple checking accounts listed on payment center with them. :smileysurprised:


I do not like the idea of autopay when I do not know the amount. Is it possible to use autopay as a safety net? Perhaps set it for the minimum payment in case I forget to PIF?

 

Does having autopay make you look better to AmEx?

New Member
cranston3
Posts: 6
Registered: ‎06-04-2010

Re: How to treat new AmEx

DW and I use our car for everthing we can, from 35 cents bag of sugar to a 5k medical bill. 

I always PIF but to get there I make multiple small payments each month. 

 

Never had any problems or issues. 


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