topic what scares amex question in Credit Cards

what scares amex question

zerbherb — Sun, 31 Jan 2016 16:46:23 GMT

So i put about 4-5k on my amex cards already. paid in ful and some 0 percent apr purchases

I wanna buy a pair of skis and a lens in the same month. And pay of both with zero apr that i ahve 6 months left of. so i would pay of 2050 in 6 months would that scare them.

Or have my spendings habbits made this seem like nothing.

I haven't done the purchases yet. Just wanted opinions.

Re: what scares amex question

Anonymous — Sun, 31 Jan 2016 16:53:08 GMT

@zerbherb wrote:
So i put about 4-5k on my amex cards already. paid in ful and some 0 percent apr purchases

I wanna buy a pair of skis and a lens in the same month. And pay of both with zero apr that i ahve 6 months left of. so i would pay of 2050 in 6 months would that scare them.

Or have my spendings habbits made this seem like nothing.

I haven't done the purchases yet. Just wanted opinions.

Amex doesn't like Balances, Balance Transfers nor Cash Advances. I would elaborate a bit further but am short on time as I have to start getting ready to hit the gym...

EDIT: Just do a simple Google Search along the lines of "Does Amex like Balances on their CCs...Fico" and results will definitely come up.

Re: what scares amex question

Involver — Sun, 31 Jan 2016 17:49:33 GMT

Stop worrying so much. Unless you neglect to pay your bills on time you're fine.

Re: what scares amex question

Irisa — Sun, 31 Jan 2016 20:12:09 GMT

@Involver wrote:
Stop worrying so much. Unless you neglect to pay your bills on time you're fine.

Agreed. I carried an average balance of $3800 during the 0% APR promo period on my BCP, never had any problems with them.

Re: what scares amex question

NRB525 — Sun, 31 Jan 2016 20:21:29 GMT

@Anonymous wrote:
@zerbherb wrote:
So i put about 4-5k on my amex cards already. paid in ful and some 0 percent apr purchases

I wanna buy a pair of skis and a lens in the same month. And pay of both with zero apr that i ahve 6 months left of. so i would pay of 2050 in 6 months would that scare them.

Or have my spendings habbits made this seem like nothing.

I haven't done the purchases yet. Just wanted opinions.
Amex doesn't like Balances, Balance Transfers nor Cash Advances. I would elaborate a bit further but am short on time as I have to start getting ready to hit the gym...

EDIT: Just do a simple Google Search along the lines of "Does Amex like Balances on their CCs...Fico" and results will definitely come up.

sorry, no, not a good generalization. In some situations AMEX can show a cardholder it does not like how that cardholder is managing balances.

In my case, I've now got 2.5 years history with AMEX, generally PIF, including a history of really pushing the $2k initial limit they gave me.

but I took advantage of the low APR offer on the Delta Gold card from November 2014 to November 2015, carrying $1,600 to start, paying that down to $500 in June, then back up to $3,300 in July, then back down to zero in December.

During that time they gave me the Hilton card, SPG, EDP, and PRG, reaching $47,000 total revolver limits plus PRG. No 4506-T request along the way.

I have proceeded to take advantage of the 0% APR period on the EDP, running that up to $4,100 in December, paying $400 per month on it.

Sorry, the "don't carry a balance with AMEX" rumor is not good advice.

To the OP, No, given that you made a huge payment already, carrying $2k for 6 months is not going to scare AMEX.

Re: what scares amex question

Anonymous — Sun, 31 Jan 2016 20:28:00 GMT

Hakuna Matata, buy your gear and pay it off just as you planned.

Re: what scares amex question

Anonymous — Sun, 31 Jan 2016 20:31:48 GMT

It depends on the card. According to your signature you have two American Express Cards. The PRG is a charge card that you're expected to pay off every month. Amex doesn't want your carrying a balance on that one. The other card, the Everyday card, is a credit card. You can carry a balance on that one as long as you make the minimum payments (and if you're on track to pay in off in 6 months, you'll be making more than the minimum payment each month). You just can't wait until the end of the six months and then plan to pay it all off in one lump sum (but I don't think that's what you're saying).

So you'll be fine, as long as you use the right card and make the payments.

Re: what scares amex question

zerbherb — Sun, 31 Jan 2016 21:18:52 GMT

haha yes i know the prg is pay in full. Thats what i put my flight to park city on .

Re: what scares amex question

sandsanta — Sun, 31 Jan 2016 21:56:07 GMT

Credit cards aren't a weird church you have to appease. Put your gear on it and pay it off as you would normally. Keep in mind that banks make money through lending.

Re: what scares amex question

Anonymous — Sun, 31 Jan 2016 22:49:50 GMT

@zerbherb wrote:
So i put about 4-5k on my amex cards already. paid in ful and some 0 percent apr purchases

I wanna buy a pair of skis and a lens in the same month. And pay of both with zero apr that i ahve 6 months left of. so i would pay of 2050 in 6 months would that scare them.

Or have my spendings habbits made this seem like nothing.

I haven't done the purchases yet. Just wanted opinions.

Keep paying your bills and enjoy your purchase.

Re: what scares amex question

red259 — Sun, 31 Jan 2016 23:08:18 GMT

@Anonymous wrote:
@zerbherb wrote:
So i put about 4-5k on my amex cards already. paid in ful and some 0 percent apr purchases

I wanna buy a pair of skis and a lens in the same month. And pay of both with zero apr that i ahve 6 months left of. so i would pay of 2050 in 6 months would that scare them.

Or have my spendings habbits made this seem like nothing.

I haven't done the purchases yet. Just wanted opinions.
Amex doesn't like Balances, Balance Transfers nor Cash Advances. I would elaborate a bit further but am short on time as I have to start getting ready to hit the gym...

EDIT: Just do a simple Google Search along the lines of "Does Amex like Balances on their CCs...Fico" and results will definitely come up.

People need to stop saying this. It is an over generalization and is highly misleading. OP ha a card with 0% APR. I've been carrying a balance on a 0% APR card for over a year and have no issue with amx and have even gotten approved for new cards with them during this time period. A couple things to note though. If you do not have a 0% apr and are carrying a balance for months on end Amex may start wondering why you are paying all the interest and then assume you don't have the money to pay the balance, you should not just make mininium payments when doing this (I like to double the minimum payment when carrying a balance), your credit profile overall should not be in distress if doing this (meaning don't have high overall util showing on your credit report consistently because lenders will be concerned), and finally it proabably wouldnt be a good idea to max out the card (when carrying a balance I try not to use more than 60% of the overall available credit on the card- if it is a higher limit card I will lower that percentage down some- this is my method and isn't based on anything other than my own comfort level though).

Re: what scares amex question

zerbherb — Sun, 31 Jan 2016 23:09:21 GMT

for the ski nerds which i presume there are here. MY home mountains are jay peak and plattikill and i got out west once per year. So these were a solid choice. http://lineskis.com/skis/sick-day-95

Re: what scares amex question

Chris679 — Sun, 31 Jan 2016 23:37:53 GMT

They offer the 0% apr because they want you to use it. As long as you have things under control there is no need to worry.

Re: what scares amex question

thom02099 — Sun, 31 Jan 2016 23:47:11 GMT

American Express is an entity, an emotionless entity run largely by computers. Hence, it does not "scare".

They offer revolving credit cards, so presumably there is no issue with carrying a balance on a revolver. That's what they are designed for. Many many people, most of whom do not frequent forums such as this, carry balances, with no consequences. That's how AMEX makes money. To say that AMEX doesn't like carrying balances, etc, is not true, simply because it's that emotionless entity.

Also, on some of their charge cards, they do in fact allow one to pay over time. This Pay Over Time option is one generally by invitation only, or one can call customer service to see if one qualifies. It allows that trip to Park City to be paid for over a few months, if one so chooses.

Re: what scares amex question

red259 — Mon, 01 Feb 2016 02:38:40 GMT

@thom02099 wrote:
American Express is an entity, an emotionless entity run largely by computers. Hence, it does not "scare".

They offer revolving credit cards, so presumably there is no issue with carrying a balance on a revolver. That's what they are designed for. Many many people, most of whom do not frequent forums such as this, carry balances, with no consequences. That's how AMEX makes money. To say that AMEX doesn't like carrying balances, etc, is not true, simply because it's that emotionless entity.

Also, on some of their charge cards, they do in fact allow one to pay over time. This Pay Over Time option is one generally by invitation only, or one can call customer service to see if one qualifies. It allows that trip to Park City to be paid for over a few months, if one so chooses.

What are you doing Dave? I'm afraid I can't let you carry that balance. Don't make me FR you Dave.

Re: what scares amex question

Anonymous — Mon, 01 Feb 2016 02:44:03 GMT

I've had my everyday card 11 months. It has reported zero three times. Once when I got it, and I PIF the first 2 months. Pretty much just paying the statement balance listed on the day it updates and use continuous. Most of the time not even that, next month is a year with amex, looking forward to cli or a different card

Re: what scares amex question

Anonymous — Mon, 01 Feb 2016 03:20:24 GMT

We ran one of ours up to 3900 once . Paid 3 1000+ dollar payments, no issue when I put 2700 on it right after. We've had that one ( SL) 20k since June of 15. Never an issue.
Never a balance issue. I don't think they much care as long as you keep things under control. I'm sure if we ran it up to 15k and were only making minimum payments before hand they might get scared.

Re: what scares amex question

Closingracer99 — Mon, 01 Feb 2016 04:07:50 GMT

@Anonymous wrote:
@zerbherb wrote:
So i put about 4-5k on my amex cards already. paid in ful and some 0 percent apr purchases

I wanna buy a pair of skis and a lens in the same month. And pay of both with zero apr that i ahve 6 months left of. so i would pay of 2050 in 6 months would that scare them.

Or have my spendings habbits made this seem like nothing.

I haven't done the purchases yet. Just wanted opinions.
Amex doesn't like Balances, Balance Transfers nor Cash Advances. I would elaborate a bit further but am short on time as I have to start getting ready to hit the gym...

EDIT: Just do a simple Google Search along the lines of "Does Amex like Balances on their CCs...Fico" and results will definitely come up.

Not exactly true .... since there really isn't any hard data on it... I know a few people who currently is parking a balance on their Amex cards with no reaction from Amex. As long as your paying more then the Min you should be fine.