@Anonymous wrote:Hi all ,
I have a total balance with amex 7 k with minumun payment due is 0 and statment balance is 0 .If I pay off the total amount of balance before the payment is due(Right now my min payment is 0).Will Amex report my balance to credit bureau in the upcoming report?
Thanks
Amex will report the balance when it next cuts your statement; if you PIF before that it will report $0.
Is this a revolver or one of the Amex charge cards? If charge card under most currently used versions of FICO an Amex balance isn't factored into your score (discounting from the major utilization reports) so if it were me I'd simply hold onto my cash for a month (at whatever marginal interest rate it is making) and then pay it when it's actually due.
I'd actually argue similarly with the revolver case too unless I needed my score within the next two months and the 7K was material on my credit report. I also want to set high balances personally but that doesn't matter to FICO anymore... just want to show every other CC underwriter that I do actually use my cards.
