AMEX "PIF" definition ?

Mdowning30 · ‎05-26-2023

Just want some clarification regarding their CC's and Charge cards, when you guys say they favor that you pay in full, is it the Full Balance or the Statement Balance ?

Starting Score: 512
Current Score: 700
Goal Score: 700+
Take the myFICO Fitness Challenge

K-in-Boston · ‎05-26-2023

Statement balance (i.e. not carrying a balance that is accruing interest). Although it is definitely profile dependent; they certainly promote Pay Over Time and especially Plan It. But for newer or blemished profiles, Amex does seem to favor PIF.

Kforce · ‎05-26-2023

@Mdowning30 wrote:
Just want some clarification regarding their CC's and Charge cards, when you guys say they favor that you pay in full, is it the Full Balance or the Statement Balance ?

They like to get paid every month, as compared to those that would have a balance from month to month

The pay statement balance will let you take advantage of the float. (Save interest money).

The pay full balance will lower utilization ratio, maybe helping scores, while losing float interest.

Scores vs Money. (Your choice)

They just don't like those cary a balance as much as the customers that use and pay.