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I use a AMEX to put all my expenses and pay it off when the bill comes in, usually on the same week when i get the bill. Running the FICO score simmulation on this site , it says that if i pay my AEMX my score can move from 720 to 760.
My question is why AMEX is reporting this as a balance when the whole ammount is paid off every month and never carrid over
Jay
Welcome to the forums,
I believe you would need to know the date AMEX reports to the CRA's, and pay before that date.
I have seen this explained better over on the rebuilding your credit board.
If you read some of the threads over there, you may find it.
pbjay wrote:
Amex Plat
It really doesn't matter, per se. Your EQ and EX FICO scores (should you ever have access to an EX FICO), do not factor the balance or "high limit" into your FICO score. TU can be different. New versions of TU, like what most lenders use currently, do not factor the balance or the high limit into scoring. However, TU98 version, like the one found on this website, does factor in both your balance and your high limit into FICO scoring. The high balance is the highest reported high balance and that acts as the CL for scoring purposes.