topic Re: HELP! OCD w/ AMEX! in Credit Cards

HELP! OCD w/ AMEX!

newbiewife — Wed, 14 Aug 2013 01:17:37 GMT

Help!

Dunno if I should pay amex before it cut-off or just go with the flow, let it cut-off and pay on due. I wanna make sure I got everything ready for my CLI but my increasr is not until sept. Should I just pay it? Let it report? Pay it on due? oh! My cut off is tomorrow.

Re: HELP! OCD w/ AMEX!

wHiTeSoL — Wed, 14 Aug 2013 01:24:35 GMT

Well if it doesn't cause financial hardship I would say just pay it off. Most people seem to think AMEX hates carrying a balance so this will definatly prevent that.

Re: HELP! OCD w/ AMEX!

newbiewife — Wed, 14 Aug 2013 01:32:39 GMT

But isn't that's part of revolver? U can have flexible payment. Geeeeee stressed now! :smileyconfused:

Re: HELP! OCD w/ AMEX!

Omnipotent — Wed, 14 Aug 2013 01:35:54 GMT

Unless you have a 0% promo and the rest of your cards are on the low side of utilization if any.

Or if you aren't apping for any thing in the near future....

Re: HELP! OCD w/ AMEX!

newbiewife — Wed, 14 Aug 2013 01:42:16 GMT

Yes 0% . Nt apping for anything, just waiting for my CLI in sept. What I was thinking is pay half today then half on due. How about that?

Re: HELP! OCD w/ AMEX!

Omnipotent — Wed, 14 Aug 2013 01:48:30 GMT

You could pay enough to keep it under 30% and keep the rest in the bank. Nothing like floating your expenses for security.

Re: HELP! OCD w/ AMEX!

Anonymous — Wed, 14 Aug 2013 02:00:00 GMT

@Omnipotent wrote:
You could pay enough to keep it under 30% and keep the rest in the bank. Nothing like floating your expenses for security.

Don't do this!! Do not have any on going balance. I think Omnipotent is forgetting that the goal here is the 3X CLI. Once you get your 3X, you can do your 0% balance thing. As for PIF or PIF before statement cut, I don't think it makes much of difference. Amex sees that that activity. Only thing I can think of is that PIF before statement cut will help FICO score a little.

Re: HELP! OCD w/ AMEX!

Omnipotent — Wed, 14 Aug 2013 02:13:31 GMT

I rather have the money in the bank over the CLI but luckily managed both. It also depends on the rest of your cards.

Re: HELP! OCD w/ AMEX!

Anonymous — Wed, 14 Aug 2013 02:17:15 GMT

Omnipotent wrote:
I rather have the money in the bank over the CLI but luckily managed both. It also depends on the rest of your cards.

And your overall credit score. But think of it this way. You have 2k limit, so you keep running balance of 1k. You don't get CLI. However you get the CLI, and you have a year to enjoy interest free use of 6k.

Re: HELP! OCD w/ AMEX!

09Lexie — Wed, 14 Aug 2013 02:20:49 GMT

Crashem is correct. It really doesn't matter if you PIF or PIF before statement cuts unless you are worried about your FICO score (revolvers of course)
Charge cards, doesn't matter just make sure its paid.

Re: HELP! OCD w/ AMEX!

newbiewife — Wed, 14 Aug 2013 02:49:58 GMT

Well the balance is only 425/4500 I already pay 200 tomorriw is cut off date. Then pay everything on due. I just want things to be smooth in my CLI on sept. Other stuff like my disco 254/9200, chase 170/2200 paying it fri and keep it in my drawer. My cut off date for others still far. Oh my bce 49/4400. What should I do with all this? Should I pay it all off or just leave some balance with other cards. Oh! Not on amex though. :smileyconfused:

Re: HELP! OCD w/ AMEX!

Anonymous — Wed, 14 Aug 2013 03:05:02 GMT

@newbiewife wrote:
Well the balance is only 425/4500 I already pay 200 tomorriw is cut off date. Then pay everything on due. I just want things to be smooth in my CLI on sept. Other stuff like my disco 254/9200, chase 170/2200 paying it fri and keep it in my drawer. My cut off date for others still far. Oh my bce 49/4400. What should I do with all this? Should I pay it all off or just leave some balance with other cards. Oh! Not on amex though. :smileyconfused:

Max out your fico, but having reported balance of 0 with exception of one card showing between 1%-10% util of both card and total balance. Since the soft that will be used for CLI likely will be from this month, good to get on top of that.

Re: HELP! OCD w/ AMEX!

Omnipotent — Wed, 14 Aug 2013 03:39:54 GMT

I was talking under 30%. 50% is a huge gap

Re: HELP! OCD w/ AMEX!

newbiewife — Wed, 14 Aug 2013 04:03:30 GMT

Oh yes! Thank you all for your advice. Ill make sure I oay down everything before my CLI on sept.