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When to Pay AMEX?

Regular Contributor

When to Pay AMEX?

For a NPSL Amex, if one has a new account and is trying to create a positive credit image, when is the best time to pay one's balance? This card is a non-revolver (a charge card). My statement close date is Oct. 5th; should I PIF now, or wait until after the statement closes, or wait until they e-mail me a bill?

 

With a normal CC, there is the issue of "utilization" to consider, and one usually knows where one stands; I did check and see how much $ I had access to online, putting in $5,000, and gettthat it approved. Balance due amt. is currently $141. But is this even relevant?

All 3 bureaus (per Amex CreditSecure FAKO) are still 748 (as of 12/19/13). Cards: Discover It, $12,100, Chase Freedom $3,300, Chase Amazon $1,500, Walmart store $11,000, AMEX Zync NPSL, Costco Amex $14,700. US. Bank Cash +, $5,000. AMEX SPG $6,000, PenFed Plat. Cash Rewards $17,500, PenFed P-LOC $10,000, Citi Forward $5,100, Chase Slate $5,000, Old Navy, $2,200.
Message 1 of 19
18 REPLIES
Established Contributor

Re: When to Pay AMEX?

I've always paid mine on the due date. I'm not real sure it matters that you pay before statement cuts as FICO doesn't count it toward util anyway.

AmEx Platinum | AmEx BCP | AmEx Delta Gold | CSP | Chase Freedom | NFCU cashRewards Visa Sig | NFCU Plat MC | WM MC | Discover it | JCP


Message 2 of 19
Established Contributor

Re: When to Pay AMEX?

I would guess the faster you pay them, the more they like you? lol

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 3 of 19
Valued Contributor

Re: When to Pay AMEX?


adavis425 wrote:

I've always paid mine on the due date. I'm not real sure it matters that you pay before statement cuts as FICO doesn't count it toward util anyway.


+1 - just pay it in the due date and you will be fine...

Ray

** Every Card has a Job, and Every Card does its Job **
Message 4 of 19
Regular Contributor

Re: When to Pay AMEX?

So far, there is no listed due date, itjust says that no payment is needed, so I guess that the due date will appear after statement close. Thanks to everyone for your guidance/replies!

All 3 bureaus (per Amex CreditSecure FAKO) are still 748 (as of 12/19/13). Cards: Discover It, $12,100, Chase Freedom $3,300, Chase Amazon $1,500, Walmart store $11,000, AMEX Zync NPSL, Costco Amex $14,700. US. Bank Cash +, $5,000. AMEX SPG $6,000, PenFed Plat. Cash Rewards $17,500, PenFed P-LOC $10,000, Citi Forward $5,100, Chase Slate $5,000, Old Navy, $2,200.
Message 5 of 19
Valued Contributor

Re: When to Pay AMEX?


trishdadish wrote:

So far, there is no listed due date, itjust says that no payment is needed, so I guess that the due date will appear after statement close. Thanks to everyone for your guidance/replies!


Yes - after your statement closes the due date will show up. You can always "push" payments to them from your bank if you want to..

Ray

** Every Card has a Job, and Every Card does its Job **
Message 6 of 19
Established Contributor

Re: When to Pay AMEX?

Besides making yourself look nice to Amexco ... I thought the payment would only be due the day before your next statement cuts?



FICO (TU/EX/EQ): 737/743/739 - Total CL 244+K
Message 7 of 19
Established Contributor

Re: When to Pay AMEX?

I think Amex likes those who pay-in-full from one payment right after the statement cuts the most.  I think it technically works like this though, your payment is due right when the statement cuts and you have until the next statement cuts to pay without penalty.  If the next statement cuts without payment, you forfeit your MR points for that statement.  If 45 days passes from original statement date without payment, you incur a late fee.  Despite the fact that Amex gives you a "Please Pay By" date on your statement that is about 15 days after your statement cuts, you don't have to pay by then.  I believe that started as a suggested mail by date for people to mail their checks by to make sure Amex would process them in plenty of time.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Message 8 of 19
Established Contributor

Re: When to Pay AMEX?


Koop10010 wrote:

I think Amex likes those who pay-in-full from one payment right after the statement cuts the most.  I think it technically works like this though, your payment is due right when the statement cuts and you have until the next statement cuts to pay without penalty.  If the next statement cuts without payment, you forfeit your MR points for that statement.  If 45 days passes from original statement date without payment, you incur a late fee.  Despite the fact that Amex gives you a "Please Pay By" date on your statement that is about 15 days after your statement cuts, you don't have to pay by then.  I believe that started as a suggested mail by date for people to mail their checks by to make sure Amex would process them in plenty of time.


Yes, I have no intention to pay that late. One do not want to wake the beast Smiley Very Happy I was just curious, what is considered due for amex charge cards.

 



FICO (TU/EX/EQ): 737/743/739 - Total CL 244+K
Message 9 of 19
Regular Contributor

Re: When to Pay AMEX?

If you have a new card be sure to pay at least twice/month foir the first 6 months (per my conversations with SEVERAL CSRs). This will establish a history where they will continue to support your higher spending limits against your NPSL (no calls or questions if you breach over 10k spending).

 

After six months ALWAYS make a payment of 200-500 the day or two before bill closing. This will ensure that you have spending room and CSR coonsideration between the time that you statement date closes and your pay bill by date is.

 

 


    NPSL              $25k            $25k              $23k              $22k               $16k              $12k              $10k            $6.5k
Message 10 of 19