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Amex Plan it Question

Regular Contributor

Amex Plan it Question

I have a rather large expense i want to put on one of my promo interest free cards. If I use the plan it feature does anyone know if it would post the adjusted balance to the credit bureaus or the total amount financed. I know its still 0% anyway, and if i "plan it" while on the promo time there are no fees but im tring to save a hit on reported utilization. 

Message 1 of 7
6 REPLIES
Regular Contributor

Re: Amex Plan it Question


@RebuildingIsHard wrote:

I have a rather large expense i want to put on one of my promo interest free cards. If I use the plan it feature does anyone know if it would post the adjusted balance to the credit bureaus or the total amount financed. I know its still 0% anyway, and if i "plan it" while on the promo time there are no fees but im tring to save a hit on reported utilization. 


I'm no expert, but it's still a purchase you used against your available credit limit = "UTI".



Cap1 QS | Citi AA | Citi Costco | Chase Freedom | PenFed PCR | AMEX GC (35K POT) | NFCU Plat | WF Propel | BofA CR | Lowe's |
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Message 2 of 7
Moderator

Re: Amex Plan it Question

Would be total charge as plan-it is just an agreement with AMEX to pay X amt over a given time.

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Message 3 of 7
Highlighted
Regular Contributor

Re: Amex Plan it Question

That’s what I thought. Thanks. It looks like my wife already tried and used the plan it feature. Her statement cut today and it just has an adjusted balance so far. While I know it counts towards available credit, if it does only report the “adjusted” balance maybe it won’t impact total utilization. I’ll keep u guys posted. It hasn’t shown up on her credit report yet.
Message 4 of 7
Community Leader
Valued Contributor

Re: Amex Plan it Question

I'd expect it to report the full balance on the card at statement time. The adjusted statement balance is what you'd need to pay to avoid interest. Of course, you're at 0%, so interest is a non-factor for now.

Message 5 of 7
Super Contributor

Re: Amex Plan it Question

I just ran a Plan It, and AMEX splits the amounts into two categories on your statement. While the “adjusted amount” excludes the Plan It amount, the sum of those two categories is what is sent to the bureaus.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812

Delta Reserve and CSP Jan 2018, no more 5/24 worries... unless new Chase Marriott/SPG replacement is enticing...meh, turns out not. [unless a 100k points SPG Luxury Upgrade appears... well lookie here...]
Message 6 of 7
Established Member

Re: Amex Plan it Question

I used the Plan It feature recently and can also confirm that the total financed amount will be reported to the bureaus, not the adjusted balance.


Starting Scores (AUG 18) EQ: 706 TU: 724 EX: 715 Goal Score 1: 760 Goal Score 2: 810
Message 7 of 7