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AMEX reports credit usage increase but not decrease?

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Anonymous
Not applicable

AMEX reports credit usage increase but not decrease?

My FICO dropped over 20 pts due to credit usage increase on 8/2009 (from $900s to $1200s, which is not a big jump). Since then, I have been paying the full amount owed every month a few days earlier than the closing date, which I thought should basically brings my credit usage to about 0? Is this correct?

 

It seems AMEX never reported this decrease of credit usage? Is there a way I can ask them to report the decrease in usage?

Message 1 of 4
3 REPLIES 3
haulingthescoreup
Moderator Emerita

Re: AMEX reports credit usage increase but not decrease?

AmEx has a weird way of updating, which results in it taking forever for new balances to report.

They report the balance that's on your statement, but they don't send the info to the credit bureaus for 4 more weeks. So if your statement drops on the 15th, the balance on that statement won't be sent in until the following 12th or so, of the next month. That balance will keep showing up until the 12th of the month after that, meaning that it takes almost two months for the next balance change to show up. Very frustrating.

Most other cards do update the balance on the statement, when the statement drops. Don't forget that there is then a built-in waiting period for the CRA's themselves to then post the new info, which can often take 7-10 days (and more) for EQ and TU.

US Bank cards and HSBC/ Orchard bank cards (as opposed to store cards) update the balance showing on the last business day of each month. US Bank updates promptly, but HSBC/ Orchard waits two weeks or more before sending in the info, and sometimes they simply don't bother for an extra month.
* 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
Message 2 of 4
Anonymous
Not applicable

Re: AMEX reports credit usage increase but not decrease?

Thanks for your explaination! it's been 3 month since 8/5/09 when AMEX reported an increase. Since then I've paying my balance just before closing date, hoping to lower the "revolving balance" reported by AMEX. Will this work as I thought?

 

I didn't actually run a new credit report, but I am using FICO watch. I only see an alert about credit usage increase which dropped by credit scorn, but no alert about usage decrease since then (3 month). Does this indicate AMEX didn't report the decrease in usage?

Message 3 of 4
Jazzzy
Valued Contributor

Re: AMEX reports credit usage increase but not decrease?


@Anonymous wrote:

Thanks for your explaination! it's been 3 month since 8/5/09 when AMEX reported an increase. Since then I've paying my balance just before closing date, hoping to lower the "revolving balance" reported by AMEX. Will this work as I thought?

 

I didn't actually run a new credit report, but I am using FICO watch. I only see an alert about credit usage increase which dropped by credit scorn, but no alert about usage decrease since then (3 month). Does this indicate AMEX didn't report the decrease in usage?


Hi...ScoreWatch won't alert for a usage decrease. You'd have to pull your report to see how it is reporting now.

Message 4 of 4
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