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New Contributor
Posts: 52
Registered: ‎05-21-2011
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Question about PiF

So I've been looking up some information on AmEx since I recently got my Blue Cash card. I know AmEx would be the company that would prefer you to PIF every month rather than carry a balance, but I'm a bit confused about what that means.

 

Most CCC only charge you interest if you don't manage to pay the previous statement balance in full in the current month before the due date. Would PIF mean paying the statement balance completely, and continue charging for the remainder of the month, then having a reported balance for your next statement (obviously a low one)? Or would AmEx prefer you to just completely pay everything before the statement closes and you show a $0 balance?

 

Thanks for any answers. Just want to clear the air about this. Smiley Indifferent


Starting Score: 673 EQ(05/20/2014)
Current Score: 707 EQ(06/30/2014)
Goal Score: 730

Current cards: AmEx Everyday ($6,000), Discover It ($5,000), Barclays Sallie Mae ($9,000), AmEx Platinum (NPSL), JP Morgan Ritz Carlton ($27,000)
Established Contributor
Posts: 768
Registered: ‎04-08-2011
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Re: Question about PiF

I would think PIF is paying whatever balance you have when the statement closes, whatever you charge after statement closing date will go on next month statement

Or you can pay your whole balance a few days before your statement closes, wait past the closing date to continue charging so that your card reports 0 balance


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


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Posts: 1,413
Registered: ‎01-20-2008
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Re: Question about PiF


Indo wrote:

So I've been looking up some information on AmEx since I recently got my Blue Cash card. I know AmEx would be the company that would prefer you to PIF every month rather than carry a balance, but I'm a bit confused about what that means.

 

Most CCC only charge you interest if you don't manage to pay the previous statement balance in full in the current month before the due date. Would PIF mean paying the statement balance completely, and continue charging for the remainder of the month, then having a reported balance for your next statement (obviously a low one)? Or would AmEx prefer you to just completely pay everything before the statement closes and you show a $0 balance?

 

Thanks for any answers. Just want to clear the air about this. Smiley Indifferent



The either ways are PIF ... the difference is by the due date of closing date.    I PIF by the closing date, so it reports $0 statement balance on my Amex Blue every month.

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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Question about PiF

PIF means paying the statement balance by the due date.  

 

 

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