Question Regarding AMEX and pay before statement date

[frugalQ]

Hello Forum,

I received my Chase Freedom and Amex Green.  Since Amex is a charge card, do I let the balance stay through a statement cycle so that the balance can post on CR?  Here's the scenario:

Amex statement date is 6th.  I got card today.  I pay my remaining April bills using AMEX.  The first statement will not cut until May 6th....first payment is not until 30 days after.

Should I:

A) pay outstanding balance before May 6th.

                        or

B) pay statement balance on the due date which will be beginning of June

To ensure I keep my utilization down, I know for a normal credit card, I would do 'A'.  However, with Amex being a charge and only reporting a 'high limit', I'm a little confuse. 

Any help with understanding this process is greatly appreciated!

[Walt_K]

Amex won't factor into your utilization except on TU98, which is the version you get here.  I've heard some creditors still use TU98, though most seem to have moved on to TU04.  If you wanted to be conservative, because you thought a lender might pull TU98, you could pay your balance down before statement.  But it most likely won't matter for your utilization.

[frugalQ]

thank you so much for this information.

this forum is great!!!!

[frugalQ]

one other question.  when amex sends you the card, does it normally include your credit score?  i can't find that information in my packet.

[cabronsaim]

Hmm, tried calling them and ask?

[Anonymous]

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@frugalQ wrote:

one other question.  when amex sends you the card, does it normally include your credit score?  i can't find that information in my packet.

---

You will receive your credit score with a denial, but not an approval unless you receive less than optimal terms.  Since there are no variances in terms for charge cards, there will not be a credit score with it.  Some of their credit cards come with different interest rates, if they give you one other than the lowest rate, Amex will give you the credit score they used in making their decision.

[frugalQ]

no, i haven't tried that one. when i didn't see it in the mailing, i sat at the computer to activate the card (hoping it would show up online). when i didn't see it online, i headed straight over to this forum to inquire. 

this forum is addictive.

[frugalQ]

great.  thanks for the clarification.

one other thing...when i activated my card it gave me the option to enroll in the 'extended pay' program.  i had heard about the program before, but i didn't expect to be eligible for it right out of the gate.

now, i'm wondering how they report extended payment items to the credit bureau.  since i will PIF monthly, i guess i'll never find out. 

[s_rob7488]

I got my credit score when i was approved for BCE last week. Just got my card (was sick of waiting so i had them overnight it) they pulled my lowest score...i believe it was EX.