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Balance reporting

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Established Member

Balance reporting

Hi all                                                                                                                                                                                                                                                                                I have a balance of 5 k with Amex .If I pay off the full balance before the min payment or before closing of the statement  will they report my credit balance to  credit bureaus  ? Thanks 

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Super Contributor

Re: Balance reporting


@fico2015 wrote:

Hi all                                                                                                                                                                                                                                                                                I have a balance of 5 k with Amex .If I pay off the full balance before the min payment or before closing of the statement  will they report my credit balance to  credit bureaus  ? Thanks 


 

Amex will report your balance each month to the three credit bureaus whether you pay it down to $0 or not.

 

The better question is what dollar value they will report and when.

 

Amex (like most credit card companies) will report the "amount owed" that you see on the top of your statement.  This is not the minimum payment but the full amount owed.  They will typically report this the day after the statement prints (give or take a day).  It wil, then take each credit bureau several days to reflect that new balance in their database.

 

Thus, if you pay your credit card down to $0 at least a couple days before the statement prints (and then don't use it for a few days) then Amex will report a balance of $0.  Otherwise it will report whatever the balance is at the time the statement is generated.

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