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2 AMEX approvals, high balance question

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Regular Contributor

2 AMEX approvals, high balance question

A few dp, burned in Ch. 13 10 yrs ago, instant approved today AMEX Green and Business Blue Plus, sl 2k. pulled Ex. Fico 725. 3 3yr paid charge offs, 12 accounts in last year 1 30k personal loan opened January 16th. very surprised and so happy to be finally back in with Amex.

with the green card, I know no cl is reported. I also know they report high balance. my question is; say I use the card for 2k, let the charges post and then make a pif payment b4 statement cuts. will that 2k high bal report? Thanks for any feedback.
Current Scores as of 8/18/17 all FICO 8 EQ: 695 EX: 673 *fico2 699 TU:645 bio has more.
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Moderator

Re: 2 AMEX approvals, high balance question

With charge cards, there's no reason to worry about high balances reported anymore.  With some of the very old credit models that didn't know how to handle NPSL, the utilization would be calculated by dividing the statement balance by the high balance and it could wreak havoc on utilization parts of scoring.  (The way we got around that in the stone age was by charging as much as we possibly could early on and taking the util hit for that month.) Modern credit scoring systems ignore charge card balances for utilization.

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Community Leader
Mega Contributor

Re: 2 AMEX approvals, high balance question

Congrats on getting back in with AmexSmiley Happy
Message 3 of 5
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Regular Contributor

Re: 2 AMEX approvals, high balance question

thanks folks for the feedback and congrats.
Current Scores as of 8/18/17 all FICO 8 EQ: 695 EX: 673 *fico2 699 TU:645 bio has more.
Message 4 of 5
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Valued Contributor

Re: 2 AMEX approvals, high balance question

Congrats!!!

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