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I spent $50 on my first statement not counting the $95 fee. I spent a little over $950 on this statement which still has 10 days before the end of the billing cycle. The last transaction to push me over my $1000 spend just posted today (out from pending).
I've heard that AMEX sign up bonuses generally go in quickly as opposed to the month delay on the cashback bonus. How does this $200 bonus work? Will I suddently have a balance of $750 instead of $950? Do I have to wait until the statement cuts and then "apply" the bonus as part of my payment? Can I apply it before the end of the billing cycle?
Shortly after this statement is when my 61 days will be and I'll be trying for a 3x CLI. I want to pay down the balance before the statement so that my utilization reports under 9%, but I don't want the bonus to then further push me down to zero so that I'm reporting no use. The plan is to PIF after the statement reports, and then request the CLI.
I'm probably over thinking this, but I'm just curious how the bonus is credited.
It will be credited to your bill as a statement credit normally pretty quickly.
Edit: For your example that's exactly how it would happen. You'll see your balance decrease by $200 but it does not count as a payment on the account itself as a reminder.
Thank you!