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Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008
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Re: When to Pay AMEX?

I pay mine couple of days before the due date. Paranoia if the due date payment takes longer to post (PTSD from the past)  :smileyhappy:




Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
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Re: When to Pay AMEX?

I have always scheduled a payment on the due date. Works well for me and obviously them because I still have all my cards!

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Established Contributor
shakalaka
Posts: 556
Registered: ‎09-10-2012
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Re: When to Pay AMEX?


CreditEd wrote:

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.

 

 


I thought Amex likes one large payment more, then couple smaller once? So why should I pay twice a months in the beginning and not make one large payment, when my statement cuts?

 

And what is the idea of paying 200-500 before the bill closing? If I have a large internal limit, this will make no difference. And in my eyes it looks a little bit funny to pay $500 right before the statement cuts and several thousands shortly after the statement cuts.

 

Sorry, no offense to anyone, just wondering.

 


Amex Platinum (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (24,800) | Discover IT (12,700) | Chase Freedom (6,300) | Walmart (4,500) | CapOne (4.000) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO: TU 770 (8/18) EQ 732 (8/8) EX 748 (12/5)

Established Contributor
adavis425
Posts: 516
Registered: ‎02-14-2012
0

Re: When to Pay AMEX?


shakalaka wrote:

CreditEd wrote:

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.

 

 


I thought Amex likes one large payment more, then couple smaller once? So why should I pay twice a months in the beginning and not make one large payment, when my statement cuts?

 

And what is the idea of paying 200-500 before the bill closing? If I have a large internal limit, this will make no difference. And in my eyes it looks a little bit funny to pay $500 right before the statement cuts and several thousands shortly after the statement cuts.

 

Sorry, no offense to anyone, just wondering.

 


Yeah, I would have to disagree with CreditEd. I have made one single payment per month to AMEX since day 1 (for 11 years). Several payments may not show them anything except uncertainty about whether funds are really available for payment. I think if you just pay them on or before the due date, you're golden. I have never had any spending issues following this pattern. In fact, when I was laid off, they let me continue to use my card with no hard limits and no hassles even though I had a couple of late pays. AMEX is the bomb!

 

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


Established Contributor
espnjunkie
Posts: 726
Registered: ‎12-14-2011
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Re: When to Pay AMEX?


shakalaka wrote:

CreditEd wrote:

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.

 

 


I thought Amex likes one large payment more, then couple smaller once? So why should I pay twice a months in the beginning and not make one large payment, when my statement cuts?

 

And what is the idea of paying 200-500 before the bill closing? If I have a large internal limit, this will make no difference. And in my eyes it looks a little bit funny to pay $500 right before the statement cuts and several thousands shortly after the statement cuts.

 

Sorry, no offense to anyone, just wondering.

 


From my experience and talking with CSR's at Amex, the best strategy is to pay in full as soon as you receive the "please pay by" message. The sooner you pay, the better it looks in terms of your internal scoring. Also, Amex review your account every six months and one of the factors is average amount paid. It doesn't make sense to push multiple payments per month through because it will lower this average. The higher your internal score, the higher limits they will allow you to have.

“The real measure of your wealth is how much you’d be worth if you lost all your money.” ~Unknown
Merrill+ Visa Signature ($25,000.00), Amex BCP ($29,700.00), Amex Green (NPSL), Capital One Quicksilver World Mastercard ($10,000.00), US Bank Business
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EX (Plus) - 777 (10/21/2013)
EQ - 735 (April 2013)
Frequent Contributor
LionLaw
Posts: 258
Registered: ‎06-10-2012
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Re: When to Pay AMEX?



From my experience and talking with CSR's at Amex, the best strategy is to pay in full as soon as you receive the "please pay by" message. The sooner you pay, the better it looks in terms of your internal scoring. Also, Amex review your account every six months and one of the factors is average amount paid. It doesn't make sense to push multiple payments per month through because it will lower this average. The higher your internal score, the higher limits they will allow you to have.


+1 to this.  Pay the full statement balance right after the statement cuts (or any time before the "Please pay by" date).  As a backup, I have autopay enabled.  I'm not sure if this helps my internal risk score, but I figure it can't hurt, since I'm authorizing Amex to take money out of my checking account if ever necessary.

 

I have read on here that multiple payments per month and payments before your statement cuts are disfavored by Amex.  Not sure if this is true, or even if it is true, what effect it has. 

 


Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Contributor
CreditEd
Posts: 140
Registered: ‎07-01-2012
0

Re: When to Pay AMEX?


adavis425 wrote:

shakalaka wrote:

CreditEd wrote:

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.

 

 


I thought Amex likes one large payment more, then couple smaller once? So why should I pay twice a months in the beginning and not make one large payment, when my statement cuts?

 

And what is the idea of paying 200-500 before the bill closing? If I have a large internal limit, this will make no difference. And in my eyes it looks a little bit funny to pay $500 right before the statement cuts and several thousands shortly after the statement cuts.

 

Sorry, no offense to anyone, just wondering.

 


Yeah, I would have to disagree with CreditEd. I have made one single payment per month to AMEX since day 1 (for 11 years). Several payments may not show them anything except uncertainty about whether funds are really available for payment. I think if you just pay them on or before the due date, you're golden. I have never had any spending issues following this pattern. In fact, when I was laid off, they let me continue to use my card with no hard limits and no hassles even though I had a couple of late pays. AMEX is the bomb!

 


All this is probably "superstition" because even the CSRs have different experiences with different clients. My experience however is that paying two or more times per month allows you to grow your spending ability far faster. An NPSL does NOT mean that you can buy a Porsche Carrera 4 the second month after getting the card. If you charge more than say 2,000 in the first month and you stated a certain income level on your new card, AMEX is gonna call you to verify purchases, or worse yet send a message to the vendor to have a manual apoproval of the charge.

 

You must build a history of higher and higher charges with AMEX before they allow you to go out to Tiffany's and buy that new engagement ring scott free. I charge in the neighborehood of 8-10k/month  through my amex cards and have had to answer the "calls" when I get to a new spending plateau. You also get the "calls" if you've had high spending in a couple of days, then you travel to a place where you've never been before and spend. For example I bought a car rack and a great deal of out door equipment in prep for a trip with my AMEX card (3,000+), then while travelling to my destination my wife wanted to do some outlet mall shopping along the way. While in Nike Town buying  $100 worth of apparael, The registrar is forced to call AMEX.

 

Until your spending habits are established and your charge tolerances become part of your account profile, you can face a denial at any time by AMEX. Thus two or more times per month in the beginning will help to justify your trend for spending more than 4-5k in a month.

 

BTW I got a call at a Nordstrom makeup counter buying my mother in law a $36 makup pack. What I didn' know was that the washington redskins just processed my final ticket payment of $3500 for my season tickets.

 

Don't have to, just strongly suggesting.

All Thanks to myFico:
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Contributor
CreditEd
Posts: 140
Registered: ‎07-01-2012
0

Re: When to Pay AMEX?

DISCLAIMER: I'm certainly no expert, just a guy who got a Gold Business card 20 months ago, lost his NPSL, got an upgrade to Platinum, got his NPSL back in full and went through the gauntlet to get a very nice 10k limot on an SPG card. Again all in less that 2 years.

 

I'd never seend or hear anything about large payments as being the key to better internal reviews. AMEX like all other card companies get paid on merchant swipes. And the more money you run through the card would seem to me as being the key to larger credit lines and a more gavolable relationship...

 

a

All Thanks to myFico:
AMEX Business Platinum (NPSL) | AMEX Business SPG ($25,000) | AMEX Delta Sky Platinum ($10,000 | AMEX H. Honors ($2,000) | Citi Hilton Honors Reserve ($14,000) | Citi Diamond Preferred ($4,700) | Citi ThankYou Preferred ($3,200) | Chase Freedom ($3,000) | FNBO Platinum MC (awaiting the limit) | HSBC Platinum ($2,000) | US Bank Cash+ Visa Signature ($5,000)
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: When to Pay AMEX?

[ Edited ]

trishdadish wrote:

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?


Hi, trishdadish!

 

Congrats on the new account!  And you are correct, the $141 is not relevant to utilization.  It's a charge card, so it doesn't count.

 

The only reasons to pay anything to anyone before the statement cuts* are to lower reported utilization (on the particular card or overall), or to free-up credit availability on that particular card.  Prompt payment (= on or before the due date) is what counts, and IMHO, the only thing that counts in creating that "positive credit image" you want with Amex.

 

With all due respect to CreditEd, spending patterns are one thing, payment patterns are another.  Two different animals, and I'd give CreditEd's advice a shot for increasing the internal limits.  But you'll be golden with Amex if you merely pay your charges in full and on time.

 

Hope this helps!  :smileyhappy:

 

P.S.  Your PPB date will probably be the 19th of the month.

 

 

Uborrow-Upay

 

 

 *Of course, to lower interest also, if you're carrying a balance on a revolver.  Mea culpa.


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