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For a NPSL Amex, if one has a new account and is trying to create a positive credit image, when is the best time to pay one's balance? This card is a non-revolver (a charge card). My statement close date is Oct. 5th; should I PIF now, or wait until after the statement closes, or wait until they e-mail me a bill?
With a normal CC, there is the issue of "utilization" to consider, and one usually knows where one stands; I did check and see how much $ I had access to online, putting in $5,000, and gettthat it approved. Balance due amt. is currently $141. But is this even relevant?
I've always paid mine on the due date. I'm not real sure it matters that you pay before statement cuts as FICO doesn't count it toward util anyway.
I would guess the faster you pay them, the more they like you? lol
@adavis425 wrote:I've always paid mine on the due date. I'm not real sure it matters that you pay before statement cuts as FICO doesn't count it toward util anyway.
+1 - just pay it in the due date and you will be fine...
So far, there is no listed due date, itjust says that no payment is needed, so I guess that the due date will appear after statement close. Thanks to everyone for your guidance/replies!
@trishdadish wrote:So far, there is no listed due date, itjust says that no payment is needed, so I guess that the due date will appear after statement close. Thanks to everyone for your guidance/replies!
Yes - after your statement closes the due date will show up. You can always "push" payments to them from your bank if you want to..
Besides making yourself look nice to Amexco ... I thought the payment would only be due the day before your next statement cuts?
I think Amex likes those who pay-in-full from one payment right after the statement cuts the most. I think it technically works like this though, your payment is due right when the statement cuts and you have until the next statement cuts to pay without penalty. If the next statement cuts without payment, you forfeit your MR points for that statement. If 45 days passes from original statement date without payment, you incur a late fee. Despite the fact that Amex gives you a "Please Pay By" date on your statement that is about 15 days after your statement cuts, you don't have to pay by then. I believe that started as a suggested mail by date for people to mail their checks by to make sure Amex would process them in plenty of time.
@Anonymous wrote:I think Amex likes those who pay-in-full from one payment right after the statement cuts the most. I think it technically works like this though, your payment is due right when the statement cuts and you have until the next statement cuts to pay without penalty. If the next statement cuts without payment, you forfeit your MR points for that statement. If 45 days passes from original statement date without payment, you incur a late fee. Despite the fact that Amex gives you a "Please Pay By" date on your statement that is about 15 days after your statement cuts, you don't have to pay by then. I believe that started as a suggested mail by date for people to mail their checks by to make sure Amex would process them in plenty of time.
Yes, I have no intention to pay that late. One do not want to wake the beast I was just curious, what is considered due for amex charge cards.
If you have a new card be sure to pay at least twice/month foir the first 6 months (per my conversations with SEVERAL CSRs). This will establish a history where they will continue to support your higher spending limits against your NPSL (no calls or questions if you breach over 10k spending).
After six months ALWAYS make a payment of 200-500 the day or two before bill closing. This will ensure that you have spending room and CSR coonsideration between the time that you statement date closes and your pay bill by date is.