Paying off a balance...

[Kozmo]

For an account that is close to its limit and has been for awhile: when paying it off what is the best option? My concern is if I pay it off in one shot Amex may decrease my credit line.

I've considered slow paying it down. Maybe over 2 months and while paying it down using it here and there just to have some usage on the account.


Anyone know of a better way to avoid this concern?

[Chris123nTx]

Pay it off. If amex was going to do anything, then there is little you can do to avoid it. Dont pay interest when you dont have to. Unless the rest of your credit is all maxed out, my guess would be they do nothing at all. If you have paid them late or have other new credit issues, then that would be a cause for concern, but not just paying them off. Just my opinion, could be wrong.

[armbenderc]

---

@Kozmo wrote:
For an account that is close to its limit and has been for awhile: when paying it off what is the best option? My concern is if I pay it off in one shot Amex may decrease my credit line.

I've considered slow paying it down. Maybe over 2 months and while paying it down using it here and there just to have some usage on the account.


Anyone know of a better way to avoid this concern?

---

I would pay if off ASAP. Amex is a charge card company and with it, a charge card mentality. They don't like you to carry balance, so PIF fast.

I read too many stories here about getting CLD and FR for carrying balance too long.

[myjourney]

Any paid off debt is good and makes you feel good about it too! Pay it off 

[HiLine]

---

@Kozmo wrote:
My concern is if I pay it off in one shot Amex may decrease my credit line.

---

No they will not.