Update Card Received Amex Optima Usage

[RadioRob]

Use it and pay it. Amex has not cared if I pay before or after a statement as long as I pay before it's due.

Amex makes more money the more times it's swiped. Even if you're not paying interest, the merchant accepting the card is paying a couple of percent of the transaction to process it. So they appreciate it being used!

[Remedios]

@Red1Blue  I've merged your two threads from today dealing with same card into one thread.

Please use this thread for your questions, as starting a new thread for each question gets counterproductive.

Thank you. 

[Anonymous]

There's nothing to show off for, since there's no CLI's on an Optima. Use it to keep it alive, at minimum, if you want to keep it. The rest is up to you. If you pay before statement cuts, your CR will show $0/0% util for that month. If you let your statement cut before you pay it, even though you're PIF, the balance will still show up on that month as % utilized. 

I've never heard of an Optima CLD, either, so you shouldn't have to worry about what AmEx "thinks" of you for paying mid-cycle. 

[Red1Blue]

---

@Anonymous wrote:

There's nothing to show off for, since there's no CLI's on an Optima. Use it to keep it alive, at minimum, if you want to keep it. The rest is up to you. If you pay before statement cuts, your CR will show $0/0% util for that month. If you let your statement cut before you pay it, even though you're PIF, the balance will still show up on that month as % utilized. 

I've never heard of an Optima CLD, either, so you shouldn't have to worry about what AmEx "thinks" of you for paying mid-cycle. 

---

Thanks for input. I agree with you. I do not have to worried about CLD on Optima for overuse. I have been an Amex member since 1981. Amex has been with me both in good times and bad times as a trusted friend. I am trying to make a habit of living debt free. I feel better paying it off before the statement cuts. Also live with in my means and spend only what I have. Almost use credit card like a debit card and just pay it off. I do not want to pay interest and spend the money I do not have. My mind is more into savings, put money away for retirement and live a comfortable debt free life.

[wasCB14]

I wouldn't try to exceed the limit, but otherwise just be sure you pay the bill on time and be patient. Amex doesn't intend the purgatory period to be brief.

[RadioRob]

Amex has one of the best purgatories in the business however. Especially when many other companies blacklist you for a decade or so from having ANY sort of relationship with them.

[wasCB14]

---

@RadioRob wrote:
Amex has one of the best purgatories in the business however. Especially when many other companies blacklist you for a decade or so from having ANY sort of relationship with them.

---

But we're also talking about a default of (educated guess here) $2700 or so?

[Anonymous]

---

@RadioRob wrote:
Amex has one of the best purgatories in the business however. Especially when many other companies blacklist you for a decade or so from having ANY sort of relationship with them.

---

Let me attest to ^^^ THIS ^^^

Previously, I was under the (outdated) impression that with an active AmEx Optima, I could not be approved for any regular AmEx product. This year, with a string of baddies (50+) behind me by only 22 months, and dozens of inquiries, I pulled the trigger on not one, but THREE AmEx cards (Bonvoy Brilliant, ABP, and Platinum) and was approved for all three with a 670 FICO. 

I still hold the active Optima, as well as the three products for which I applied. 

Life isn't 7 years down the road, it's less than 2 years away from your last baddie so long as you keep your util low (mine was 0%) and payments solid. AmEx is not particularly sensitive to INQ, or even my LOL/24. 

[coldfusion]

---

@Anonymous wrote:

---

AmEx is not particularly sensitive to INQ, or even my LOL/24. 

---

YUP. 

[sjt]

---

@Red1Blue wrote:

Question for those who have Amex Optima card. How often do you use the card and how heavily do you use it. My card limit is $900. Any suggestions how to use it ? I pay in full for all my accounts and will not carry balance. Should I use it lightly once or twice a month and keep it alive or should I use more often and pay it in full before statement cuts ? I appreciate your input.

---

Its important to keep it active, whether its a few charges or using it as your main card. The problem is that there are no rewards.