New AMEX cards reporting on TU

[coffeegal]

I searched for this question here in the forum but didn't come across clear answers, just lots of conflicting statements.

I opened a Green card and BCE last month.  I received my first statements over the weekend.  Yesterday, I had a balance alert for TU (nothing for EX or EQ yet).  As it turns out, AMEX is reporting both new accounts (though dated 1/2003 - YAY), but of course with balances because I haven't paid them yet.  Does AMEX always report before the billing cycle closes, or is this just because they are new accounts?  

I plan to PIF every month, but wasn't sure of the date this first time around.  I don't want to report a balance.  Thanks!

[takeshi74]

Probably because they're new.  AmEx reports on statement date.

[IamB2]

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@takeshi74 wrote:

Probably because they're new.  AmEx reports on statement date.

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+1

Amex reports on the "Statement Closing Date"... Of course it takes a day or two for the alerts to be generated and the information populated accross all of the CRAs.

[Anonymous]

I have two accounts with AMEX  and they have always reported a few days after the statement is closed.  Not sure why they reported prior to for you.

[coffeegal]

S

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@takeshi74 wrote:

Probably because they're new.  AmEx reports on statement date.

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So I should pay prior to the statement date each month to ensure reporting a zero balance, versus paying before the due date?  

[IamB2]

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@coffeegal wrote:

So I should pay prior to the statement date each month to ensure reporting a zero balance, versus paying before the due date?  

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Well, that depends on a couple of factors. If you carry a balance of any kind, you must pay at least the minimum payment by the due date. But if you pay the entire balance each time and report a $0 balance on the statement, then that assertion (pay by the statement close date) is accurate.

[newhis]

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@coffeegal wrote:

S

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@takeshi74 wrote:

Probably because they're new.  AmEx reports on statement date.

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So I should pay prior to the statement date each month to ensure reporting a zero balance, versus paying before the due date?  

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Yes, if you pay before closing date and get your balance to zero then that will get reported. If you PIF before due date then there will be no interests, but the balance at closing date get reported.

[coffeegal]

Thank you, thank you @newhis and IamB2!  Exactly the clarification I was looking for.