My AMEX - Utilization, Cash Back Points and FICO scoring question - need quick response, thanks!

[turninganewleaf]

Hello, I have had an Amex Blue CC for 6 mos.  It has a CL of $1,000 (highest reported balance is $414)

My current balance is $834.00 and my statement closing date is April 4th. 

My question is, should I:

A.  Pay the balance in full before the statement closes as to not have a high balance of $834.00 report?  This would be my 2nd month in a row to report $0 balance.

B.  Pay $824.00 before statement closes leaving $10.00 to report, rather than $0

C.  Pay $744.00 before statement closes, leaving $90.00 (9% util) to report.

D.  Or pay nothing before statement closes to get maximum cash back rewards but possibly killing my FICO score for a month.

FYI:  I am not looking at applying for anything new for a while as I just bought a house and I'm  not looking to app for any credit cards any time soon.

Please advise, thanks!

[Creditaddict]

I say B OR C

[athensguy]

When you pay probably won't affect your reported high balance or your cash back. I'd do A or B, depending on if you have other cards reporting. If you have other cards reporting a balance, I'd do A, otherwise, perform B and pay off the rest of the New Balance after the statement drops.

*Edit: was thinking B was PIF option. Fixed my post by changing letters to what I meant. ie., PIF or leave less than 9% depending.

Message Edited by erchambers on 04-02-2008 01:51 PM

[Anonymous]

A, B, or C would be fine, depending on how many other accounts are reporting balances.

To be safe, choose B or C.

I don't understand the question on D.  You get the rewards just for spending.  Whether you pay before the statement or not doesn't affect that.

[Anonymous]

I agree. I'm pretty sure you got points based on the amount charged to the card, regardless of PIF.