Amex BCE statement balance questions

[Lambo23]

Should I pay off my balance to 0$ before the statement cuts today? Or do I let it report and then pay? What's better? This is my first statement with an Amex revolver.

[DeadSpider]

I always pay by due date works for me.

[Lambo23]

Well this is my first statement cut. I got the card earlier this month. If I pay the balance today $320/$1000 then th statement will cut with a 0$ balance. Therefore the amount due will then say $0. Or do I let the $320 post on the statement and then pay it?

[boomhower]

Pay before it cuts.  That's over 30% UTL and will ding your score. 

[Gunnar419]

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@Lambo23 wrote:
Well this is my first statement cut. I got the card earlier this month. If I pay the balance today $320/$1000 then th statement will cut with a 0$ balance. Therefore the amount due will then say $0. Or do I let the $320 post on the statement and then pay it?

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Unlike some cards, Amex tends to like zero balances. I pay my BCE to zero before the statement cuts and they seem happy with that.

However, your best course might depend on what you're wanting to accomplish. If the Amex is your ONLY card, for instance, I'd let a little something (maybe not the whole $320) report. Just to show activity and make your FICO score happy.

But if you've got other cards reporting, feel free to pay Amex off before the statement cuts and you should be fine.

[jakemod1]

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@Lambo23 wrote:
Well this is my first statement cut. I got the card earlier this month. If I pay the balance today $320/$1000 then th statement will cut with a 0$ balance. Therefore the amount due will then say $0. Or do I let the $320 post on the statement and then pay it?

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Well, it depends what you want to accomplish. Are you looking into getting the best possible score by having all but one card report a zero balance? Are you looking into applying for more cards? If so, then pay it off before the statement cuts so it reports a zero balance. Also, thats 32% of your total limit so I would definitely pay it down at least.

The only other issue is that if it cuts today, your payment may not clear by the end of today and it still may report a balance. Also, since you just got your card, it may not be reporting to the CBs yet. I got mine Feb 28th and it still isn't reporting to the CBs. I just hit my second statement on April 17th.

[Lambo23]

Alright well I think I'll keep my Amex at a 0$ balance when statements post. At least until I get my 3x CLI.