topic Question about Carrying Balances? in Credit Cards

Question about Carrying Balances?

Anonymous — Sun, 25 Sep 2016 05:12:36 GMT

So I recently got approved for the Chase FU with a 15 month 0 percent APR intro period. I'm a college student with very limited history and once I'm at my 6 month mark I want to apply for the Amex PRG. I have read over and over again on the forums that "Amex does not like us carrying balances". Question is, if I carry a balance on my Chase, would that appear on my credit report? As in could Amex tell that I have not been PIF? Would doing this decrease my chances at getting in with Amex?

Re: Question about Carrying Balances?

Anonymous — Sun, 25 Sep 2016 05:16:23 GMT

@Anonymous wrote:
So I recently got approved for the Chase FU with a 15 month 0 percent APR intro period. I'm a college student with very limited history and once I'm at my 6 month mark I want to apply for the Amex PRG. I have read over and over again on the forums that "Amex does not like us carrying balances". Question is, if I carry a balance on my Chase, would that appear on my credit report? As in could Amex tell that I have not been PIF? Would doing this decrease my chances at getting in with Amex?

How much of a history do you have?

Typically AMEX's requirements on the PRG are much more loose than their revolving cards.

Yes AMEX would see the carried balance with Chase on your credit report, but just keep it under 30% and you'll have no issue.

Re: Question about Carrying Balances?

Anonymous — Sun, 25 Sep 2016 05:22:25 GMT

Also, that adage about AMEX not liking you to carry a balance means carrying a balance with them on their revolvers. If your usage if reasonable on your Chase, it'll be OK. You'll have to PIF on the PRG anyway so it shouldn't be a dilemma. Good luck!

Re: Question about Carrying Balances?

Anonymous — Sun, 25 Sep 2016 05:28:08 GMT

@Anonymous wrote:
Also, that adage about AMEX not liking you to carry a balance means carrying a balance with them on their revolvers. If your usage if reasonable on your Chase, it'll be OK. You'll have to PIF on the PRG anyway so it shouldn't be a dilemma. Good luck!

Yes, exactly.

And remember, OP, the PRG comes with a $195 annual fee, so make sure you get that back and then a ton more in benefits. I don't have an AMEX but I'm sure many can tell you how useful transferring those PRG points can be.

Re: Question about Carrying Balances?

Anonymous — Sun, 25 Sep 2016 22:36:42 GMT

They won't see you carry a balance. Just that you closed the most recent month with a balance. Which means nothing. The only info they know about your Chase is limit, last reported balance, highest spend, and ontime payment history. Since utilization has no memory, they have no way to know if you PIF every month, or just closed with a balance this time.

I've had a balance on my 12-month 0% Barclays since I pretty much got the thing, it's never been a problem, and wasn't when Amex gave me my highest SL ever. Like someone else said, just get it to report under 30% and you'll be fine.