Just got my AMEX Everyday Card, Question about making payments

[Anonymous]

Yes I missed that part but only at first. In which I still saw another statement you made about it being their "policy" as stated .Not trying to nitpick or argue here but don't want false info to tear up someone's UTI for a month if this were to happen to them as well .Most things are YMMV anymore. To answer your question I got two revolvers .Both reported in about 30 days. First one 30 days exactly .2nd reported on day 32. Just fyi trying to let others know beforehand so they're not surprised IF it happens to them. Its all good though. No harm no foul .Just letting people know 

[Anonymous]

Can you not initiate the payment at your bank?  

I just sign into my bank account and pay several bills in less than a minute.  Why make it difficult and go to each credit card issuer's website, log in, pay the bill, log out, go to the next website and start the process all over again?

[Gregory1776]

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@HeavenOhiowrote:

The restrictions are due to your new payment account rather than the new card. During the first 30 days, it appears that you're allowed to pay one time before your first statement cuts. After that, you can make as many payments as you like up to the amount of the statement balance and possibly one prepayment beyond that. If you set up your payment account right away, the restrictions will be lifted well before your first due date.

If you set up a new payment account, these restrictions will repeat for that account. I don’t think this is accurate, I recently set up a new account and made two payments from it in one week. If possible, keep your previous payment account available and transition to using the new one.

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[Anonymous]

It depends on the creditor and relationship .HeavenOhio is correct as this is stated in the terms .Which is why when I got my new cards I immediately added my bank info .Some take 30 days to let you make more than one payment if the bank info is new or account is new .So if I waited a few weeks of using the card and went to make a payment I would only be able to do 1 for 30 days (depending on the creditor) after adding the bank info. So I always add my accounts right away after getting new cards now whether I plan to make a payment any time soon or not . it is also YMMV. You may have a good relationship with said creditor or they may have verified it quicker than normal etc. 

[Gregory1776]

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@Anonymouswrote:

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@topgunvfwrote:

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@arkanewrote:

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@Gregory1776wrote:

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@topgunvfwrote:

@Anonymous of all congrats on the ED and WELCOME TO THE AMEX FAMILY! Unfortunately yes, Amex only allows one payment to be processed for the first month while they "get to know you" I call it and your intial payment method processes. After the first month you can pay as many times as needed. Some have been able to "push" payments through their online banking (see @Anonymous's for details) during the first month.

-Also note that you wont see any account from AMEX on your report until after the 2nd statement cuts regardless so no need to sweat the balance reported as it won't be on your report yet  

YUP they’re going to take forever to report. So dont sweat it too much.

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Not a bad thing honestly. Your AAoA and AoYA both take less of a hit when it finally reports. If they only start reporting by month 3, you're already about 10 points ahead! 

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****** THIS INDEED ******

I love that it's their policy to do so.

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@arkane

@Gregory1776

@topgunvf

FALSE. this is not "policy" or set in stone .Or else it would be true for everyone. Be careful with misleading on here. It is very much YMMV or they changed policy. Me and several others have just recently had our new accounts report well before 2 statement cuts. Just letting you know. Everyone on here acted like it was for sure and so I didn't sweat it. Well now I'm at 50% UTI on my credit report on one of my new amex card because3 it reporter much earlier than 2 statements. And I'm not too happy about it. Sure its only temporary but I expected 2 statements as so many on here had said .Just figured I'd let y'all know so that you don't inform others of this "policy" 

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Stating from my personal experience. As well as what I’ve read. If you can’t afford 50% Uti hit to your scores a month after getting a new account, don’t use 50%...

[expatCanuck]

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@Anonymouswrote:

Can you not initiate the payment at your bank?  

I just sign into my bank account and pay several bills in less than a minute.  Why make it difficult and go to each credit card issuer's website, log in, pay the bill, log out, go to the next website and start the process all over again?

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^^^^^

This.

Add the Amex account to your bank's online payment system.  Pay as you wish. 

I got my BCE two months ago.  In the first month, I made one payment via the Amex portal, and pushed 4 payments from my bank.  No issues at all.  (That said, all payments were 3 days or more apart.)

[Anonymous]

Its not that I cant afford it. My score didn't even drop because of it. But I don't like high balances reporting on my cards and to me 50% on one card is high. Obviously don't use 50% if you can't. But I didn't fimd out the 30 day rule until after it was too late. And I'm not concerned enough to call in or push payment from my bank because its not affecting me. I just prefer to not have high balance history on report.  Matter of personal preference, not affordability. But the fact remains that they reported the account 1 month after. Not 2 statements after .