topic Re: "Internal score" true?? in General Credit Topics

"Internal score" true??

Anonymous — Mon, 21 Aug 2017 18:09:15 GMT

So, I've seen several references of something helping/hurting your "internal score" even if it's not reported to the credit bureaus. Like for example, my PRG month just closed on 8/13 and payment is due in the 13th of next month. Making a payment now will help my "internal score" with Amex. Is this true? Is this an urban legend? Should I pay now when it really makes no difference and I can hold on to my cash until the 13th?

Re: "Internal score" true??

Anonymous — Mon, 21 Aug 2017 18:30:10 GMT

@Anonymous wrote:
So, I've seen several references of something helping/hurting your "internal score" even if it's not reported to the credit bureaus. Like for example, my PRG month just closed on 8/13 and payment is due in the 13th of next month. Making a payment now will help my "internal score" with Amex. Is this true? Is this an urban legend? Should I pay now when it really makes no difference and I can hold on to my cash until the 13th?

You might want to check your due date. Mine closed today and the due date is the 14th.

Re: "Internal score" true??

Anonymous — Mon, 21 Aug 2017 18:36:10 GMT

@Anonymous wrote:
@Anonymous wrote:
So, I've seen several references of something helping/hurting your "internal score" even if it's not reported to the credit bureaus. Like for example, my PRG month just closed on 8/13 and payment is due in the 13th of next month. Making a payment now will help my "internal score" with Amex. Is this true? Is this an urban legend? Should I pay now when it really makes no difference and I can hold on to my cash until the 13th?
You might want to check your due date. Mine closed today and the due date is the 14th.

Sorry, meant to say statement closed 8/18, due 9/13.

Re: "Internal score" true??

K-in-Boston — Mon, 21 Aug 2017 19:14:27 GMT

Making your payment (at least the minimum, but preferably the full statement balance) by the due date every single month will help your internal score. Paying it 1 day after the statement cuts or 25 days after the statement cuts (Amex due dates are typically 25 days out) should make no difference.

Re: "Internal score" true??

Anonymous — Tue, 22 Aug 2017 01:54:04 GMT

I agree with KIB.

That said, it doesn't mean that a creditor isn't looking at what you are doing with your card and making daily assessments about your risk level. There are a lot of examples. You might be issued a card with a 20k limit, and you get it and immediately make a purchase of $19,300. That might cause sirens to go off with their fraud dept -- the transaction might not even go through, even though you have a "right" to use that card how you feel (though of course not actually if you read the fine print).

Likewise people visiting the forum often post for the first time in bafflement regarding a CLD or other adverse action. They are stunned that their issuer has been monitoring their activity on this card and perhaps even cards by other issuers (via soft pulls of their report) -- the common refrain is "but I never missed a payment on this card."