Paying AMEX Charge Card Before Statement Cuts?

stefanc · ‎03-15-2012

@haulingthescoreup wrote:
@pakman92 wrote:
i believe it may have an effect. part of the scoring is based on how many accounts have a balance.
+1

It will be scored as an additional account with a balance, which may (or may not) affect your scores.

+2

Everytime I let my Plat report with a balance I take a hit on my scores (guess I'm right on the edge of too many accounts with a balance - about 30%ish of them - all promo - 0% stuff). Anyway I always pay my Amex's to 0 before the statement cuts, the CSR's have even mentioned that - so I think Amex likes it!

Anonymous · ‎03-16-2012

Remember for Score optimization all non Mortgage TL's need to total under 5K (I think ). However Total owed to creditors is a small portion of your FICO score.

konabill · ‎03-27-2012

@Anonymous wrote:
Remember for Score optimization all non Mortgage TL's need to total under 5K (I think ). However Total owed to creditors is a small portion of your FICO score.

When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down ‘happy’. They told me I didn’t understand the assignment, and I told them they didn’t understand life.”― John Lennon

Awesome siggy.

TU 802 EQ 806
*USAA*PENFED*NFCU*AMEX*DISCOVER*CiTi*WALMART*BESTBUY*

crunching_numbers · ‎03-27-2012

It will affect your overall debt (balances owed on non-mortgage accounts). This can affect your FICO. It does mine, but I have a large debt load at the moment. YMMV

Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: FICO 8 = 844(9/15) EQ, 827 TU, 811 EX (7/15); mortgage FICO= 758 (9/15)EQ5, 797 TU4, 748 EX2 (7/15)
Goal Score: 750+, but shooting for the 800's
Hyatt Visa Sig ($23K), Amex BCP (24.8K), BofA Travel Rew Sig (22.5K), B&N World MC (22.3K), Amex RP Gold (NPSL w/ S&T), Cash+ Sig (20K),United Mil+ExpSig (16.3K), FNBO Visa (13.1K), Hilton Surpass (10K), Freedom Visa Sig (8.6K), Disc It (16.4K), Citi Dia Pref MC (3.7K),Sam's MC (10K), Wally (7.5K), JCP(5.3K), Costco (2K)

Anonymous · ‎03-27-2012

@konabill wrote:
When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down ‘happy’. They told me I didn’t understand the assignment, and I told them they didn’t understand life.”― John Lennon

Awesome siggy.

Thanks

Re: Paying AMEX Charge Card Before Statement Cuts?

Re: Paying AMEX Charge Card Before Statement Cuts?

Re: Paying AMEX Charge Card Before Statement Cuts?

Re: Paying AMEX Charge Card Before Statement Cuts?

Re: Paying AMEX Charge Card Before Statement Cuts?