Credit Card Center Advertiser Disclosure†
11-10-2007 12:54 PM
11-10-2007 02:20 PM - edited 11-10-2007 02:21 PM
I would advise her to pay off all of that balance, as much as she can afford to - whenever she can afford to at this point.
3.99% is profit for Amex each month off the balace, so ideally that should be the lowest possible balance to charge on
Plus remember FICO factors in "payment history" - utl below 10% consecutively for 6 months will make your Amex internal history EXCELLENT!!
I know, I was approved for Blue for Students last year pif each month, didnt charge more than 9% of my CL, in 3 months auto CLI off button for $5000+ and just 2 months ago Upgraded to BlueCash with auto CLI of 10k more so total $20k now =D
I am 21, full time student! so Amex VALUES PIF each month
-corrected a typo
11-10-2007 03:27 PM
11-10-2007 03:37 PM
netpanther wrote:I have had mine less than a year and between the two am at 13,000 in combined credit- but I have been on the conservative side to not appear that greedy.
11-10-2007 04:09 PM
11-10-2007 04:21 PM
Thanks to both of you. The fun thing is, she has no idea what her scores are. She's never pulled them. Good point about new cards looking at existing CL's! I'll tell her that; otherwise, she'll probably never bother to ask for CLI's.
What about new purchases? Would Amex think it was good / bad / who cares if she made new charges (and PIF'd) while paying off a BT? She has 0% on new purchases for the first 6 months. She is an amazing cheapskate, so we're probably talking a tank of gas a month.
11-10-2007 04:29 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.