09-04-2010 05:22 AM
I have a Zync card and my closing date is Sept 20. Should I pay my balance before the 20th or wait until the due date?
Seeing that this is a charge card and there is no CL reported to the CB, hence not affecting my scores, am I right?
09-04-2010 08:46 AM
I got a Zync card about 6 weeks ago and bought about 600 of stuff the first month.
I paid the balance 2 days before the due date but after the statement cut so I had a zero balance on the due date. I pulled my EX report from their site and AMEX was correctly showing a zero balance because I paid it off and in the "old days" none of my AMEX cards ever reported a balance that I remember.
But I pulled a TU FICO report and TU is showing the $600 OUTSTANDING balance (even thought it is zero) so my score went down due to utilization by 2 points.
09-04-2010 03:30 PM
I would just pay the charge card after the statement, only TU gets the util thing wrong, all your other reports will not be effected by a balance on a charge card. I would wait 6 months from having Zync to apply for an amex credit card, and charge as much as you can on the zync in those 6 months to show amex you deserve a credit card and you need a nice limit to keep up with your spending habits
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