Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
Re: Just got 1st AMEX Zync statement

jd5189 wrote:

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!


Thanks. Forgot about that, my glorious 20 years of backdated goodness.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
Re: Just got 1st AMEX Zync statement

Duncanrr wrote:

jd5189 wrote:

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!


Thanks. Forgot about that, my glorious 20 years of backdated goodness.

Oh... just 20 years.... that's all?? :smileytongue:

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.
Senior Contributor
jsucool76
Posts: 3,741
Registered: ‎12-11-2011
Re: Just got 1st AMEX Zync statement

jd5189 wrote:

Duncanrr wrote:

jd5189 wrote:

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!


Thanks. Forgot about that, my glorious 20 years of backdated goodness.

Oh... just 20 years.... that's all?? :smileytongue:


Can I get some of the backdating goodness? I'm not even 20 years old! lol, would make my credit reports look stellar :smileyvery-happy: 

;
Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
Re: Just got 1st AMEX Zync statement
i got my first Amex when I was freshman in college. Proceeded to get in credit trouble and have avoided credit cards for 12+ years. It's a major step for me to have another Amex. The fact that my Delta card is also backdated means I get a double dip on AAoA. My recent app spree added 5 CC to my CR and with back dating the AAoA of these 5 new accounts is 8 years!


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Established Contributor
kobe2012
Posts: 697
Registered: ‎03-16-2012
Re: Just got 1st AMEX Zync statement

I'm confused with the due date on my zync, right now, it states "payment not required"..... and statement closes 10/25.... once the statement closes, do I have before 11/25 to pay my balance??? or do I need to pay the balance before 10/25???


Starting Score: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk



Super Contributor
Ron1
Posts: 5,458
Registered: ‎05-23-2009
Re: Just got 1st AMEX Zync statement
[ Edited ]

Duncanrr wrote:

Ron1 wrote:

You need to pay in full by the due date before the due date.. After that, they might charge late fee or report you as deliquent.

 

 

Ron.


The due date is the day before the next statement date, right? Isn't the please pay date a suggestion? Normally, I'll pay on the 15th but since I'm straighten out high UTIL due to hurricane, Im planning on paying at end of month (11 days before next statement date and 4 days after please pay by date).

It doesn't matter the charge doesn't count the credit utiliization because you cannot carry balance. Amex need your payment on or before 26th of this month. If you need more time, you can call time to make another arrangement.  You need to pay in full for the charge card unlike the credit card.  After 26th, Amex might charge late fee. Amex might report your account as deliquent if you wait until next statement. I usually pay the card as soon as the statement comes out every month. By the way, they might raise your spending limit if you pay on time.

Here is some info for card payment:

 

http://about.americanexpress.com/cr/pb1.aspx

 

http://about.americanexpress.com/cr/pb3.aspx

 

 Quote from Amex:

Your Charge Card payment is due in full by the “Please Pay By Date” indcated on your monthly billing statement.  The "pay in full" nature of the charge card is to help our Cardmembers avoid any unnecessary  interest charges.

 

 

Ron.

Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
Re: Just got 1st AMEX Zync statement
@Ron. The first link you posted is for their revolvers and not applicable to charge cards. I'm pretty confident the due date for the charge card is the day before next statement and the please pay by date is a recommendation for people that mail in their payments.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
Re: Just got 1st AMEX Zync statement
Amex calculates interanal score by your adherance to the please pay date. I usually pay 10-15 days before the please pay date... If I were you I would not pay after the "please pay by" date.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
Re: Just got 1st AMEX Zync statement

webhopper wrote:
Amex calculates interanal score by your adherance to the please pay date. I usually pay 10-15 days before the please pay date... If I were you I would not pay after the "please pay by" date.
Where did you get this info from? Like I've said before, normally this will not be an issue but I'm trying to juggle paying off storm related damage items. Im just seem to be getting different info from different people.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Established Contributor
cashnocredit
Posts: 1,030
Registered: ‎07-18-2009
Re: Just got 1st AMEX Zync statement

Here's some of the cardmember agreement for charge cards

 

Payment of the New Balance is due upon receipt of your

statement.

 

If you do not pay the Amount Due on a billing statement before the 10th day after the next Closing Date, you will be charged a late payment fee. This fee will be $25, or $35 for a subsequent late payment in the next 6 billing periods. In addition, if you do not pay an Amount Due for two billing periods in a row, we will charge the greater of $35 or 2.99% of the amount past due.

 

The "please pay by" is not referenced in the agreement. However, it is due upon reciept and how long you take to pay would likely be evaluated over time as part of an internal exposure calculation for setting spending limits.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k