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Frequent Contributor
joestay
Posts: 374
Registered: ‎01-08-2010
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Stuck in a dilemma

Okay, like I said before in another thread, I have been paying off any transaction that has posted to my account online for amex and I have spent more than my credit limit for this current statement period.  Well, I recently brought something that is half my credit limit but the problem with this transaction is that it hasn't posted to my account yet so that I could pay it off before my cutoff date in 2 days.  I can see my avaliable balance being $1000 instead of $2000 because of this transaction but since it hasn't posted to the account yet, I can't pay it off.  My current balance says 0 though.  Now, what would happen when my cutoff date comes?  Will I be at 50% utilization?

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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Stuck in a dilemma

[ Edited ]

This might well happen, although AmEx allows you to pay on any date before a certain time (* oh, shoot, can't remember the exact time; it's on your website, and remember that it's Mountain Time *).

 

Keep checking every day to see if it posts. If so, you should be able to pay it and not have it report. I've had to do this before.

 

This is why, for those playing the util game, you need to stop using the card ~5 days before the expected statement date. Even then, there are some merchants who just don't seem to get their charges in in a timely manner.

 

Anyway, keep logging on and see if it's posted.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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joestay
Posts: 374
Registered: ‎01-08-2010
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Re: Stuck in a dilemma

lol,  I charged it 8 days before my cutoff date, expecting it to post within 2-4 days.

Valued Contributor
my-own-fico
Posts: 1,216
Registered: ‎01-05-2010
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Re: Stuck in a dilemma

haulingthescoreup, that wonderful Moderator Emerita, wrote:

"This is why, for those playing the util game, you need to stop using the card ~5 days before the expected statement date."

The prior statement cycle's due date is often that kind of date!

We used to pull the needed cards out of our wallets for those days and into the sock drawer, but now we usually remember by a simple reminder.

Also, since something at some point is bound to slip through the cracks, we avoid charging big stuff during the last ten days of the statement cycle. Actually, we charge less on a card as the cycle moves along; ten days into the cycle, there's another card whose cycle has just begun. That's ample financial freedom for us.

Reported credit card debt EQ $0 TU $0 EX $0
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Stuck in a dilemma

 


joestay wrote:

lol,  I charged it 8 days before my cutoff date, expecting it to post within 2-4 days.


I hear ya! The worst offender for me used to be CreditSecure of all things, AmEx's home-grown Experian-based credit monitoring service. It kept hovering out there for over a week, every month. Drove me nuts.

 

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
Watchmann
Posts: 985
Registered: ‎05-14-2008
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Re: Stuck in a dilemma

You never know how the processing times will work.  I have one Visa card that posts immediately, i.e. if I buy something online at Amazon , and then check the Visa account 2 minutes later the charge will already be sitting in the account.  But AMEX runs differently and it may be 2-5 days before it shows up although your CL will be reduced immediately upon using the card.  Unless you are going to apply for credit immediately I wouldn't worry about it too much, it will all average out in the long run.

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joestay
Posts: 374
Registered: ‎01-08-2010
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Re: Stuck in a dilemma

Okay, so my charges posted to my account this morning, the day that my statement cut off.  I paid it this morning when it posted and now it is currently processing.  The balance hasn't been resetted yet but my CL has.  Will I be okay here?

Regular Contributor
tiger67
Posts: 163
Registered: ‎09-23-2008
0

Re: Stuck in a dilemma

Yes.

 

FYI: In case it had not posted, you could have gone to mycheckfree.com and pushed a payment to AmEx.

Valued Contributor
thrasher865
Posts: 1,163
Registered: ‎05-21-2008
0

Re: Stuck in a dilemma

A "pushed" payment almost certainly wouldn't post in 2 days.

 

Anywho, why are you "playing the util game?" may I ask?  Are you apping for something this month?  If not, who cares and why worry about your month to month util so much?  Are you in fear of AA from other CCs?


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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joestay
Posts: 374
Registered: ‎01-08-2010
0

Re: Stuck in a dilemma

I'm looking for a house this year so I am trying to make sure my score are up.  I needed a new card so that I can buy a plane ticket and having a $750 credit limit will limit me from buying the ticket i want.


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