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Is AMEX killing my score ?

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Anonymous
Not applicable

Is AMEX killing my score ?

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

 

Message 1 of 6
5 REPLIES 5
LIGHTNIN
Senior Contributor

Re: Is AMEX killing my score ?

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. 

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Message 2 of 6
Anonymous
Not applicable

Re: Is AMEX killing my score ?

The balance that is on the bill you pay in full is what they report to the CRA's. You need to PIF BEFORE they cut the billing statement. Find out when the billing cycle ends for your AMEX. For example if your billing cycle ends on the 28th of the month PIF by the 27th and the statement and CRA will show $0 balance.
Message 3 of 6
llecs
Moderator Emeritus

Re: Is AMEX killing my score ?

OP, which Amex do you have?
Message 4 of 6
Anonymous
Not applicable

Re: Is AMEX killing my score ?

Amex Plat
Message 5 of 6
llecs
Moderator Emeritus

Re: Is AMEX killing my score ?


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.
Message 6 of 6
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