New amex pcb

[Anonymous]

Oh I see.
Myfico doesn't let me get a score, it says I need to wait till my accounts are 6 months old. :/

[Anonymous]

Also, is it good to put alot of charges on amex and pay them off? My rent is $1500 a month and they would charge me $35 to pay by,credit card, I was thinking to pay from credit card then pay the credit card instantly. Would that help in getting a CLI.

[Ghoshida]

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@Anonymous wrote:
Also, is it good to put alot of charges on amex and pay them off? My rent is $1500 a month and they would charge me $35 to pay by,credit card, I was thinking to pay from credit card then pay the credit card instantly. Would that help in getting a CLI.

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Not necessarily.

While it is true that credit card CLIs are sometimes given when you show them usage, I believe you can get CLIs without paying extra for it.

Just put your regular charges through it and make sure your scores are good. There's a dedicated AMEX 3X CLI thread in the "helpful threads" section of this forum. Follow it for best advice.

[Anonymous]

you can have a balance report without paying interest... my discover reports every month and haven't paid a dime.

[Anonymous]

just because you report a balance doesn't mean you are gonna pay interest on it. you just have to pay your previous statement the next month and you're good.

let's say you reported $600 for february on your statement. fine. in march you make $400 extra in purchase and pay $700 on your due date. you satisfied your previous balance (so no interest to pay) and your new statement balance for march is $300. just pay at least $300 the next payment date and you're good no matter how much you purchase.

[Ghoshida]

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@Anonymous wrote:
you can have a balance report without paying interest... my discover reports every month and haven't paid a dime.

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The OP wasn't asking about reporting a balance.

His/her statement already was generated with $600 balance, he/she wanted to know if he/she should pay all of it off or leave some trailing balance. 

Generating a statement with a balance by itself does nothing to the interest (unless you are out of grace period because of previously trailing interest or you're dealing with a predatory lender). But not paying off the entire balance by the due date (unless 0% APR) results in interest and loss of grace period.

[Anonymous]

i must have misunderstood what you were answering

[takeshi74]

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@Anonymous wrote:
I just got my first statement on my amex PCB does anyone know when will this show up on my credit report?

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No idea.  The amount of time to first report can and does vary.

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@Anonymous wrote:
That's a bummer. They just approved me for a $5k limit. None the less, my statement was $600 should I pay it off in total or leave a little balance. I prefer to pay it, but what helps my credit score?

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You do not need to carry a balance for scoring purposes.  Don't conflate carry and report.  They are two entirely different things.  You can have a balance report without carrying.  It's all about when you pay versus report date.  AmEx reports on statement date.  Your $600 balance would have already reported if the account was reporting.  How much you pay after the statement is generated does not change the reported balance as it has already been reported.  If you want to reduce the reported balance then you need to pay it down before the report date.

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@Anonymous wrote:
Also maybe u can help me, my TU was at 650 (this was my first score) then because of a 70% balance it dropped to 594. Now that I reported a balance of 200$ it didn't change!!

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It will change.  The CRA's don't immediately update.  It can take several business days after the info is reported for them to update.

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@Anonymous wrote:
Credit karma. Nothing else changed besides the one inquiry from amex.

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CK's Vantagescores are only relevant to creditors that use a TU or EQ Vantagescore 3.0.

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@Anonymous wrote:
CK is a FAKO (vantage score 3.0) and they're ULTRA new account sensitive and inquiry sensitive. they have me at EQ 601 and TU 625 (fico for those is 672 and 695) so they are way off. 

They are not way off.  They are different scoring models.  You cannot use a score generated by one model to determine a score generated by another model.  Even FICO models do not all generate the same numbers.  Always consider the specific scoring model & CRA and the relevance of a given model/CRA combo to a given creditor/product.  The FICO's you're referring to are not used by all creditors and will not be reelvant to creditors that do not use them.

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@Anonymous wrote:
Also, is it good to put alot of charges on amex and pay them off? My rent is $1500 a month and they would charge me $35 to pay by,credit card, I was thinking to pay from credit card then pay the credit card instantly. Would that help in getting a CLI.

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It is not simply a matter of usage.  Nor is it just a matter of the account itself.  The CLI you qualify for with any creditor will be determined based on what your entire credit profile and your income qualify for.  If there's a $35 fee to pay your rent you're just throwing away money.