topic Re: Amex Utilization in Credit Cards

Amex Utilization

medicgrrl — Tue, 11 Apr 2017 02:56:36 GMT

How sensitive is Amex to utilization? I have a CL of $6000 and plan to pay my taxes and some other things with it next week. This is going to bring my balance to about $3200. It will be paid off in 3 large payments in the following 45 days.

My credit score was 681 when I was approved. It dropped 17 points after I let all my cards report a $0 balance. I'm hoping this rectifies itself next week when I allow a card to report a small balance.

I have $1000 I can pay on it a few days after the charge and will pay another $2100 on it on May 18th. I could mess with the payments a little and pay $1800 on April 20th and then $1300 on May 18th instead. I don't prefer to do it that way though. Do you think it will make any difference? The card will be paid off June 1st.

I also have a second Amex with a $1000 CL and I plan to pay my state taxes of about $600 on this account on April 18th and PIF on May 4th. Statement date on this account will be May 14th.

I'm just concerned about AA because the accounts are both new and I had a Bk 13 that was discharged last September.

Re: Amex Utilization

AverageJoesCredit — Tue, 11 Apr 2017 03:21:43 GMT

I think you will be ok MG.Especially since you are going to pay it off pretty quick. Theyll probably love that. If any concerns you could call just to inform them youll be placing a big spend . Heck, i played with the belly of the beast by putting( for me anyway) a hefty almost $900 on my brand new 1k card stemming from a week old approval after getting back in 10years post bk7 Phew! So when i asked for a 3x 2 weeks in with a 900 balance i was suprised i got it. But i paid it down relatively fast. However, i just recommend enjoying your credit limit. Thats what its there for to use. Great way to butter them up for your upcoming 3x attempt

Re: Amex Utilization

medicgrrl — Tue, 11 Apr 2017 03:25:10 GMT

@AverageJoesCredit wrote:
I think you will be ok MG.Especially since you are going to pay it off pretty quick. Theyll probably love that. If any concerns you could call just to inform them youll be placing a big spend . Heck, i played with the belly of the beast by putting( for me anyway) a hefty almost $900 on my brand new 1k card stemming from a week old approval after getting back in 10years post bk7 Phew! So when i asked for a 3x 2 weeks in with a 900 balance i was suprised i got it. But i paid it down relatively fast. However, i just recommend enjoying your credit limit. Thats what its there for to use. Great way to butter them up for your upcoming 3x attempt

That was my other concern, I'll be eligible to request my CLI the first week of June I'm not sure what all of this will do to my score. I guess I shall find out

Re: Amex Utilization

AverageJoesCredit — Tue, 11 Apr 2017 03:31:05 GMT

Has your Amex's reported yet to your CRA? My hammer has yet to drop so im interested to see how hard the 2 new cards drop my score.

Re: Amex Utilization

medicgrrl — Tue, 11 Apr 2017 03:33:04 GMT

@AverageJoesCredit wrote:
Has your Amex's reported yet to your CRA? My hammer has yet to drop so im interested to see how hard the 2 new cards drop my score.

Not yet. I'm afraid to even see what's going to happen when all the changes hit my report. This could get ugly