cancel
Showing results for 
Search instead for 
Did you mean: 

New AMEX card payment question

tag
Anonymous
Not applicable

New AMEX card payment question

I have put $700 on my new amex prior to the first billing cycle ending.  Does one method of payment look better than the other (to amex of course)?  PIF now or PIF after receiving first statement.  No interest charged either way.  My thinking is that I'll get a hit for a good score by making the paymnt after receiving the statement because it will show up as an on time payment.  But not entirely sure.  Please and thank you in advance.

Message 1 of 11
10 REPLIES 10
Anonymous
Not applicable

Re: New AMEX card payment question


@Anonymous wrote:

I have put $700 on my new amex prior to the first billing cycle ending.  Does one method of payment look better than the other (to amex of course)?  PIF now or PIF after receiving first statement.  No interest charged either way.  My thinking is that I'll get a hit for a good score by making the paymnt after receiving the statement because it will show up as an on time payment.  But not entirely sure.  Please and thank you in advance.


The high balance should still be reported. They will still report that you were not late with payment. If you want to micromanage your utilization, then pay it off before the statement end date.  Should have at least 3 credit cards, balances of 0 reporting, except for one, have $2 report.

Message 2 of 11
Anonymous
Not applicable

Re: New AMEX card payment question

-

Message 3 of 11
Anonymous
Not applicable

Re: New AMEX card payment question

Is this for a charge or revolver?

 

Message 4 of 11
ojefferyo
Valued Contributor

Re: New AMEX card payment question

AMEX will be happy either way as long as they get their money. Pay before or after the statement is a personal preference

Amex Platinum, Amex Hilton HHonors Surpass, Chase Southwest Premier, Chase Marriott Rewards Premier, Discover IT, Sony Visa, Barclay Arrival+ MC, Cabela Visa, Walmart SC, Amazon SC, Kohls, Diners Club Premier, PayPal Credit, PenFed Platinum Reward Visa, PenFed PLOC, Chase Ritz Carlton, Citi TY Premier, Amex BCP, Discover Miles, Care Credit, Blue Nile SC, iComfort SC, Cap1 Venture, Chase Hyatt, Lowes, US Bank Cash+, Citi Costco Visa
Message 5 of 11
Anonymous
Not applicable

Re: New AMEX card payment question

 


@Anonymous wrote:

Is this for a charge or revolver?

 


Blue Cash Everyday

Message 6 of 11
NRB525
Super Contributor

Re: New AMEX card payment question

Congratulations on the new card, and it is still a new card.

 

Your relationship with AMEX is just starting out, it is fine now, and it will improve after several months of paying at least the minimum payment on time, preferably more than the minimum payment, and for your own financial well being PIF is advised.

 

This first payment, by itself, is not going to make or break your relationship, as long as it gets paid. If it were me? I'd leave it and make sure the payment got there by the payment due date printed on the statement. I very rarely pay just after charges, and those are in cases where I have an underlying balance transfer that I want to keep separate from new charges, so I pay the new charges quickly.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 7 of 11
Anonymous
Not applicable

Re: New AMEX card payment question

When I first got my Amex I always PIF before statement cut. This will help you out if your planning on asking for a 3x CLI in 3 months.

Message 8 of 11
NRB525
Super Contributor

Re: New AMEX card payment question


@Anonymous wrote:

When I first got my Amex I always PIF before statement cut. This will help you out if your planning on asking for a 3x CLI in 3 months.


The paying in full part, yes. I'm not so certain paying before statement cuts makes any difference regarding the CLI request. And even the PIF part is not required for some files.

 

YMMV.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 9 of 11
takeshi74
Senior Contributor

Re: New AMEX card payment question


@Anonymous wrote:

My thinking is that I'll get a hit for a good score by making the paymnt after receiving the statement because it will show up as an on time payment. 


It would be on time either way.  The only way it would be reported late is if you paid it 30+ days past the due date.  Doesn't really matter either way and you're overthinking it IMO.

 


@Anonymous wrote:

When I first got my Amex I always PIF before statement cut. This will help you out if your planning on asking for a 3x CLI in 3 months.


It really doesn't matter either way.  CLI's are always based on credit and income at the time the CLI is considered.  I never pay prior to statement cut and have had no problems with any of my AmEx CLI's because my profile and income supported those CLI's.  I acutally had balances on 0% offers while getting several CLI's from AmEx.  Do not simply assume that CLI's are based on a single factor like usage, whether paying prior to statement cut or after, etc.  One's entire credit profile matters.

 

Payment prior to statement end is done to adjust the reported balance/revolving utilization.  If one is applying for a CLI 3 months down the road then current revolving utilization really doesn't matter.

Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.