topic Re: AMEX Charge Card Payment question in Credit Cards

AMEX Charge Card Payment question

ucibaqt — Mon, 09 Jun 2014 20:00:56 GMT

I was recently approved for a AMEX green card. I was honestly surprised that I was approved. I've searched the forums for payment information, but most of what I found was contradicting. When am I supposed to pay and have the balance report at 0. When the statement cuts, billing cycle closes, or the by due date on the statement?

Any help understanding charge card payments will be appreciated.

Re: AMEX Charge Card Payment question

AirlinerDudeB6 — Mon, 09 Jun 2014 20:27:50 GMT

There is lots of interpretation on here as to when you "should" pay by to get on Amex's good side.

Personally, I have mine on auto-pay for day 25 and I never have to worry about it.

Make sure you pay by the statement closing date and you will be fine. Just remember that the statement date varies by a couple days each month, so that's why I recommend the auto pay.

Re: AMEX Charge Card Payment question

cashnocredit — Mon, 09 Jun 2014 20:30:21 GMT

Let the balance report. Charge cards are different than credit cards. The balance that reports on a charge card has zero effect on the FICO scores that are used by creditors and there is no benefit to prepaying a charge card.

Re: AMEX Charge Card Payment question

ucibaqt — Mon, 09 Jun 2014 20:38:06 GMT

Since I have a new card, a note pops up that I can only pay once the statement closes. Does that mean it will report a balance once the statement closes?

Re: AMEX Charge Card Payment question

ucibaqt — Mon, 09 Jun 2014 20:39:10 GMT

Okay will do. Thanks for the help.

Re: AMEX Charge Card Payment question

AirlinerDudeB6 — Mon, 09 Jun 2014 20:41:43 GMT

@ucibaqt wrote:
Since I have a new card, a note pops up that I can only pay once the statement closes. Does that mean it will report a balance once the statement closes?

This happens for the first cycle when trying to pay through the website.

Yes, the balance would report. But as mentioned above, there is no FICO impact.

If you're that concerned about balance reporting, push the payment through your bank's online bill pay to amex.

Re: AMEX Charge Card Payment question

creditFiend — Tue, 10 Jun 2014 00:00:55 GMT

I have mine on auto pay also. Balance always report. Does not affect utilization. I love my Green. .