Paying AMEX early.....question....

[Anonymous]

So I have a New Zync Account,

I used it to book tickets to Vegas and it put a balance of around $700 on my card. (The charges are not "pending" but have posted, its just that payment is not "due at this time").

I called the CSR to try to pay it off immediately (didn't want them getting nervous), They said since it hadnt cut (the statement), that they could innitiate payment. But the CSR said that if I innitiate the payment through my bank (i.e. the free bill pay), that they can always recieve the money that way, they just cant innitiate it through their system until the statement cuts...

So I just set up the payment via Capital One Bill Pay,

Has anyone done this to pay Amex early? I have never used bill pay (through the bank to pay someone)...

Thanks,

Mike Vera

[Itsmeagain]

I use it every month to always show a zero balance when the statement cuts.

[Anonymous]

This Forum Rocks....

Thanks for the response. So in your experience how long did it take from the time you initiated payment through your bank, till the time you could log onto amex.com and see the reflected payment?

[Itsmeagain]

If I "force" a payment by using my banks bill pay system, it usually takes a couple of days to post.  However, if I use the payment option on the Amex website, it posts the same day that I schedule the payment . . . even on Sunday.

[haulingthescoreup]

It should show a pending (or completed) payment the next day. They update at midnight.

This tactic works for all CC's, and it was nice of the AmEx CSR to tell you about it. We call it "pushing" a payment.

When you pay from your bank account, it "pushes" the payment in to the CC account, whether they've posted a balance due or not. You can overpay if you want in this manner, if you're feeling adventurous, btw.

Once the first statement generates, you'll be able to pay on the AmEx or other CC website. When you do this, it "pulls" the money out of your bank account and into the CC account.

For those who are bound and determined to have their first statement report $0, or a lower figure than they've actually charged, this is the tactic to use.

I would screenshot and save the confirmation numbers from your bank screen when you do this. Actually, I screenshot the confirmation numbers for all my payments, whether from the bank end or the CC end, and save them for a month, until the payment is listed on the statement. I hate the idea of paying anything twice.

eta:  itsmeagain out-posted me, and you should probably go with that info. I don't remember a delay in seeing the payment, but it's been a while since I've had to do this with AmEx.

[jnydc]

I thought about pre-paying.  I am newly back with AMEX.  Is it important to show a zero balance?

[haulingthescoreup]

---

@jnydc wrote:

I thought about pre-paying.  I am newly back with AMEX.  Is it important to show a zero balance?

---

Only for FICO scoring.

Or I suppose, if you go nuts and have a high balance report, other CCC's might wonder what you're up to. But I don't think that's worth losing sleep over.

Otherwise, CCC's don't care what balance reports. They just care whether you use the card, and whether you then pay your bill.

[Anonymous]

I just know that historically AMEX is sometimes "paranoid" about new accounts... And I believe when the account is looked at, it is benificial to see swift prompt payments multiple times especially after somewhat large purchases. Nothing would ease my "fears" more as a lendor then seeing a "lendee" eager and prompt with, his/her payments.... But thats mostly my opinion....lol

[Anonymous]

I apologize for the run on, still getting use to this android phone lol

[Anonymous]

i have paid amex more than i have charged in a statement period and it appears as a negative balance on amex (positive for you), and appears on your CR as a zero balance.  unfortunately, the CRAs do not recognize negative balances at this time.