4 months into Amex Business credit I have a ? about pymts from a scoring perspective.
There's the Stmt Balance and then there's the Total Balance.
Does paying Stmt Balance hurt my Paydex score? I don't have access to tell.
Someone with more knowledge about this may drop in and explain.
But as far as I know, no. Paying what's due by the due date, is in line with the "paid as agreed" terms.
Thanku @Janus Have you viewed your paydex score after Amex reports? and/or sbf score?
No, as I do not have access to those. I just assume that since you're paying the statment balance you're "paying as agreed", thus positive reporting by said creditor. So it then shouldn't hurt your score.
From what I've heard paydex is either you paid or you didn't, so I don't know if it's affected by utilization. Hence the remaining balance left over that isn't due yet.
Techically speaking all that's required is to pay is the minimum due to statisfy that criteria, yes?
I'd like to get a glimpse at Paydex scores to compare Stmt. vs. Total balances. Maybe someone who has/had access to them will spell it out.
Okay, so according to what I read on this subject.
A company's Paydex score is determined solely based on a history of trade references. Instead of looking at your history of financing and credit from financial institutions, Dun and Bradstreet uses the payment histories your company has had with the various vendors you may work with. Unfortunately Credit card payments do not count as one of the trade experiences for these purposes.
Since your PAYDEX score is based entirely on the promptness of your payments to vendors and suppliers, the only way to improve it is to make sure you are paying on time. Remember: paying on time will only earn you a score of 80. For a perfect PAYDEX score of 100, you need to pay 30 days early.
This leads me to believe that payments to Amex do not matter in terms of Paydex. Unless others can chime in with a different experience.
Thank you @Janus
I had no idea that's what it was...thanks again.