topic Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking? in Credit Cards

Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

chally — Mon, 06 Jan 2014 18:10:11 GMT

I have an old $4.4k tax debt with Mass DOR and I'm a AU on a very new AMEX BCE 5k Dec 31, 2013. Would this type of transaction look unfavorably with regard to future growth/love @ AMEX?

Plan is to CLI 3X March 2, 2014, pay off DOR same day (regardless if CLI is successful). Wait ~ 30 days for MA to release Lien associated with this debt, CRA to update, the obtain loan from DCU to payoff AMEX quickly. DCU has said they will do this once they see it released on my CR.

Goal is to start a good relationship with AMEX, get Lien satisfied ASAP, and pay off debt in 12 mo while adding an installment to stregthen a thin file. Thoughts welcomed.

Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

09Lexie — Mon, 06 Jan 2014 18:15:21 GMT

I wouldn't and it has nothing to do with the lien. The amount will max out the CL and the idea of an ACM charging up the CL supposedly doesn't sit well with Amex. Of course, that is not a fact just a supposition.

Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

Anonymous — Mon, 06 Jan 2014 18:33:54 GMT

Are you absolutely certain you can spend basically the whole CL at one shot?

Amex has internal limits on their cards, and you might want to verify that such a purchase will go through.

Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

chally — Mon, 06 Jan 2014 18:59:26 GMT

I should ammend to say I have no intention of putting the full 4.4k on a new card with a 5k limit, that's asking for trouble.

This is why I'm waiting for 61 day 3 or 2.5X CLI (12.5-15k) before making a move. If increase is approved then yes the total applied to card will be sought. If CLI is denied this will need to be split bewtween cards w/ maybe 2k going on BCE.

Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

09Lexie — Mon, 06 Jan 2014 19:22:39 GMT

@chally wrote:
I should ammend to say I have no intention of putting the full 4.4k on a new card with a 5k limit, that's asking for trouble.

This is why I'm waiting for 61 day 3 or 2.5X CLI (12.5-15k) before making a move. If increase is approved then yes the total applied to card will be sought. If CLI is denied this will need to be split bewtween cards w/ maybe 2k going on BCE.

Thanks for the clarification. I read your first post as to, 'whether or not CLI is approved'. If denied and your charges are usually $2k, then that should be fine. However, if denied then I would probably reconsider putting 50% on the BCE

Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

Revelate — Mon, 06 Jan 2014 22:06:06 GMT

Not sure, Amex didn't blink when I tossed a 11.3K tax burden on the Zync; I'm going to wind up doing the same thing on the BCP this month; however, I have a 1.25 year history with Amex and a year on the BCP already. Also I PIF every single month and will be doing so with the old tax payments as well.

Will have to see, Amex undoubtedly knows about my new (and paid before it was gotten in court, grrrr) fed tax lien, it'll be interesting to see what their reaction is. Sort of being a guinea pig with my own badly mixed credit report and IRS issues to see what they'll do both regards to any potential AA or a denial of a CLI in April.

Re: Adverse impact on new Amex BCE by using to pay State Tax - overthinking?

09Lexie — Mon, 06 Jan 2014 22:44:26 GMT

@Revelate wrote:
Not sure, Amex didn't blink when I tossed a 11.3K tax burden on the Zync; I'm going to wind up doing the same thing on the BCP this month; however, I have a 1.25 year history with Amex and a year on the BCP already. Also I PIF every single month and will be doing so with the old tax payments as well.

Will have to see, Amex undoubtedly knows about my new (and paid before it was gotten in court, grrrr) fed tax lien, it'll be interesting to see what their reaction is. Sort of being a guinea pig with my own badly mixed credit report and IRS issues to see what they'll do both regards to any potential AA or a denial of a CLI in April.

I was erring on the side of caution since OP was the ACM. It probably is one of those things we will never verify if ACMs charges really have any bearing on Amex and their internal monitoring.