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Just got 1st AMEX Zync statement

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Duncanrr
Valued Contributor

Re: Just got 1st AMEX Zync statement


@Anonymous wrote:

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!


Thanks. Forgot about that, my glorious 20 years of backdated goodness.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 11 of 20
Anonymous
Not applicable

Re: Just got 1st AMEX Zync statement


@Duncanrr wrote:

@Anonymous wrote:

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!


Thanks. Forgot about that, my glorious 20 years of backdated goodness.

Oh... just 20 years.... that's all?? Smiley Tongue

Message 12 of 20
jsucool76
Super Contributor

Re: Just got 1st AMEX Zync statement


@Anonymous wrote:

@Duncanrr wrote:

@Anonymous wrote:

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!


Thanks. Forgot about that, my glorious 20 years of backdated goodness.

Oh... just 20 years.... that's all?? Smiley Tongue


Can I get some of the backdating goodness? I'm not even 20 years old! lol, would make my credit reports look stellar Smiley Very Happy 

Message 13 of 20
Duncanrr
Valued Contributor

Re: Just got 1st AMEX Zync statement

i got my first Amex when I was freshman in college. Proceeded to get in credit trouble and have avoided credit cards for 12+ years. It's a major step for me to have another Amex. The fact that my Delta card is also backdated means I get a double dip on AAoA. My recent app spree added 5 CC to my CR and with back dating the AAoA of these 5 new accounts is 8 years!


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 14 of 20
kobe2012
Established Contributor

Re: Just got 1st AMEX Zync statement

I'm confused with the due date on my zync, right now, it states "payment not required"..... and statement closes 10/25.... once the statement closes, do I have before 11/25 to pay my balance??? or do I need to pay the balance before 10/25???


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 15 of 20
Ron1
Super Contributor

Re: Just got 1st AMEX Zync statement


@Duncanrr wrote:

@Ron1 wrote:

You need to pay in full by the due date before the due date.. After that, they might charge late fee or report you as deliquent.

 

 

Ron.


The due date is the day before the next statement date, right? Isn't the please pay date a suggestion? Normally, I'll pay on the 15th but since I'm straighten out high UTIL due to hurricane, Im planning on paying at end of month (11 days before next statement date and 4 days after please pay by date).

It doesn't matter the charge doesn't count the credit utiliization because you cannot carry balance. Amex need your payment on or before 26th of this month. If you need more time, you can call time to make another arrangement.  You need to pay in full for the charge card unlike the credit card.  After 26th, Amex might charge late fee. Amex might report your account as deliquent if you wait until next statement. I usually pay the card as soon as the statement comes out every month. By the way, they might raise your spending limit if you pay on time.

Here is some info for card payment:

 

http://about.americanexpress.com/cr/pb1.aspx

 

http://about.americanexpress.com/cr/pb3.aspx

 

 Quote from Amex:

Your Charge Card payment is due in full by the “Please Pay By Date” indcated on your monthly billing statement.  The "pay in full" nature of the charge card is to help our Cardmembers avoid any unnecessary  interest charges.

 

 

Ron.

Message 16 of 20
Duncanrr
Valued Contributor

Re: Just got 1st AMEX Zync statement

@Ron. The first link you posted is for their revolvers and not applicable to charge cards. I'm pretty confident the due date for the charge card is the day before next statement and the please pay by date is a recommendation for people that mail in their payments.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 17 of 20
webhopper
Moderator Emeritus

Re: Just got 1st AMEX Zync statement

Amex calculates interanal score by your adherance to the please pay date. I usually pay 10-15 days before the please pay date... If I were you I would not pay after the "please pay by" date.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 18 of 20
Duncanrr
Valued Contributor

Re: Just got 1st AMEX Zync statement


@webhopper wrote:
Amex calculates interanal score by your adherance to the please pay date. I usually pay 10-15 days before the please pay date... If I were you I would not pay after the "please pay by" date.
Where did you get this info from? Like I've said before, normally this will not be an issue but I'm trying to juggle paying off storm related damage items. Im just seem to be getting different info from different people.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 19 of 20
cashnocredit
Valued Contributor

Re: Just got 1st AMEX Zync statement

Here's some of the cardmember agreement for charge cards

 

Payment of the New Balance is due upon receipt of your

statement.

 

If you do not pay the Amount Due on a billing statement before the 10th day after the next Closing Date, you will be charged a late payment fee. This fee will be $25, or $35 for a subsequent late payment in the next 6 billing periods. In addition, if you do not pay an Amount Due for two billing periods in a row, we will charge the greater of $35 or 2.99% of the amount past due.

 

The "please pay by" is not referenced in the agreement. However, it is due upon reciept and how long you take to pay would likely be evaluated over time as part of an internal exposure calculation for setting spending limits.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 20 of 20
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