Amex Gold

[1comingback]

Hello All:

I just got approved for this card and will receive it shortly.  Im wondering if anyone can give me advice on usage.  To be specific, what's the best way to use the card and keep my fico scores healthy?  

Thx

[IOBA]

oh geez....I use my card for as much as possible (as long as I have the money in the bank).

But then, I budget every month and have budgeted out to July 2012.  

I set aside (budget) money every payday to pay them.  Most of the time, I pay them once a month.  If I am running a bit high on my balance, or a bit tight financially, I send them money every 2 weeks.  They appreciate that.

I have as much on auto bill as I can - internet, insurance, taxes, etc.   I manually add cell phone bill, gas, food.  When I have a purchase that is out of the norm for my pattern, I charge it, then call them and let them know it's not a fraud charge coming through.  I have no probs with them.  But I am pretty consistent with usage and love.

[1comingback]

Thx IOBA:

My main concern was utilization issues. I've finally gotten my credit on track so I want to be sure to treat this baby with love and respect.  I want to get the most out of it but not hurt myself in doing so.

Again thx!!

[IOBA]

My suggestion is to send Amex money every payday -- pay it off in full.   

Amex will love you for it.  They will also see you as less of a risk.  

[Uncle_Money]

I have the Platinum card and it doesn't report a limit.

Keep in mind the gold card will be the same scenario, which means your current balance will be reported and this is included in your utilization.

To keep your utilization in check, you'll want to pay before the statement generates.

UM

[Creditaddict]

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@Uncle_Money wrote:

I have the Platinum card and it doesn't report a limit.

Keep in mind the gold card will be the same scenario, which means your current balance will be reported and this is included in your utilization.

To keep your utilization in check, you'll want to pay before the statement generates.

UM

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Not true, only the old version of TU sometimes calculates it into util, everyone else reports it as a charge card and it's not in util.  I say charge as much to it as you can and don't worry about your credit, it will continue to improve