Question about AMEX Auto Pay

[Anonymous]

Up to now I've been paying off my CC's 100% each month

Well, actually, I've been paying them off MULTIPLE times each month. Say I'd buy something for $100, I'd wait like 5 days and manually pay it off from the website. Then gas up my car, and pay it off a couple days later. I guess I'm OCD like that.

But I've just set up Auto Pay at AMEX and it's a bit confusing for me. Basically they don't let me choose the payment date and instead just have this"Payments will be made 15 days after statement closing date."

So, which is better in terms of credit scoring and such. Do like I was doing or use AMEX's auto day with 15 day delay?

[Imhotrodcrazy]

I  pay off my AMEX in full almost weekly depending on how much I buy.  I pay by way of my US Bank account.  I always set up the payment for the next day.  That way it posts the very next day, no waiting period.  That way, I am always PIF in the eyes of AMEX, but I always have something showing for the next statement to keep the best score. For me, this works best.  Hope I didn't confuse you more. 

[pizzadude]

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@Anonymous wrote:

Up to now I've been paying off my CC's 100% each month

Well, actually, I've been paying them off MULTIPLE times each month. Say I'd buy something for $100, I'd wait like 5 days and manually pay it off from the website. Then gas up my car, and pay it off a couple days later. I guess I'm OCD like that.

But I've just set up Auto Pay at AMEX and it's a bit confusing for me. Basically they don't let me choose the payment date and instead just have this"Payments will be made 15 days after statement closing date."

So, which is better in terms of credit scoring and such. Do like I was doing or use AMEX's auto day with 15 day delay?

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Do you have an AMEX charge card or credit card ?  That makes a difference since FICO ( except for TU98 ) ignores reported charge card balances when calculating your revolving utilization.     But either way, whatever balance is showing on your card at the time a statement is cut will be reported to the CRAs. 

[Revelate]

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@Anonymous wrote:

Up to now I've been paying off my CC's 100% each month

Well, actually, I've been paying them off MULTIPLE times each month. Say I'd buy something for $100, I'd wait like 5 days and manually pay it off from the website. Then gas up my car, and pay it off a couple days later. I guess I'm OCD like that.

But I've just set up Auto Pay at AMEX and it's a bit confusing for me. Basically they don't let me choose the payment date and instead just have this"Payments will be made 15 days after statement closing date."

So, which is better in terms of credit scoring and such. Do like I was doing or use AMEX's auto day with 15 day delay?

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Score probably nothing.

Underwriting, not sure: I noticed on my Experian report that payments are tracked, which can be taken in aggregate as monthly spend and/or ability to pay depending on your habits by anyone looking at the report.  I did note that all of my accounts tended to put the payments in aggregate (280 + 40 = 320 on the Orchard card, and 1000 + 700 = 1700 on the BOFA card, both for January) but YMMV with an individual lender.  IF Amex likewise consolidates the payments, it probably doesn't matter either way honestly.

I also suspect that paying at different times in the month (a date is recorded as well) may affect some things in terms of how you are perceived by lenders, but I suspect that simply picking one way of doing it and sticking with it, as I know that's one of the things mortgage lenders tend to want to see in your account statements when they look at them, is the best method for demonstrating stability.