Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 198
Registered: ‎12-12-2007
0

New to AMEX

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?

 

Frequent Contributor
Posts: 455
Registered: ‎06-08-2008
0

Re: New to AMEX

 

 

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.

 

Go figure.

 

 

Regular Contributor
Posts: 198
Registered: ‎12-12-2007
0

Re: New to AMEX

What other AMEX cards do you have?  This is my first one and  I'm thinking of getting one of their credit cards.

Epic Contributor
Posts: 28,677
Registered: ‎10-23-2007
0

Re: New to AMEX

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

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.