cancel
Showing results for 
Search instead for 
Did you mean: 

How to treat new AmEx

Blogger

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)

Message 11 of 30
Established Contributor

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 MC | Discover it | JCP


Message 12 of 30
Established Contributor

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), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
My Loans: Prosper $25k/36mo, Prosper $17k/36mo
My Business: Chase Ink VS $5k, Amex BRG NPSL (> 10k),
Message 13 of 30
Established Contributor

Re: How to treat new AmEx

+1

Message 14 of 30
Valued Contributor

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. Smiley Surprised

 

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%
Message 15 of 30
Valued 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.


+1

 

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 16 of 30
Moderator

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 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 741, EX 2 776, EQ 8 809, TU 8 774, EX 8 822 (1/1/18)
Goal Score:    EQ 5 771, TU 4 750, EX 2 776, EQ 8 809, TU 8 774, EX 8 822 (01/01/19)


Take the myFICO Fitness Challenge
Message 17 of 30
Frequent Contributor

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? Smiley Happy

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

 

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

Message 18 of 30
Frequent Contributor

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. Smiley Surprised


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?

Message 19 of 30
New Member

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. 

Message 20 of 30