So should I use the card once in a while or close it?

NOPE, your cutting it too close, remember if you charge something on the 28th, it may not even post to your account for 2 to 5 days, HSBC will not post payments the same day as standard payments, so NOPE

Also BofA will report to credit bureaus within 48 hours of statement closing and they report over the web. HSBC loads info onto disks and MAILS them to the credit bureau on the last day of the month, so it can take a month from your statement closing to your actual upate at the credit bureau. And when the bureaus get the disks, they can take a week or longer to load the info. SSSSOOOO just dont use the HSBC cards if you want a higher score that month, you just cant win.

Wow, this is the first time I'm hearing this. So let's say I charged it on the 28th put made a rush oayment on the 29th, do you think they would report that I paid it off in full?

I have HSBC cards too. They do NOT report to the bureaus after your account closes, they report on the LAST DAY of the month, so when you charged on 12/28, regardless of what your balance was on your statement closing date, they report your balance as of the LAST DAY of the month. So in the future only use your HSBC card between the 1st of the month and your statement closing date. If your closing date is early in the month, guess what your [screwed]

Porgy, I'm not too happy with HSBC right now. I have the Best Buy Mastercard and I charged about $500 on that card on 12/28. I just paid it off in full yesterday. They reported to the credit bureaus that it was my balance for the month of December and also my high balance. But when I charged the card, they already had made my statement. I'm really upset about this because my limit on that card is only $750 and I don't want to get accounted for high utilization on that card just because of someone's mistake. I'm trying to improve my score, not make it worse. I'm going to call CS today, how do you think I should approach them with this matter?

Hi, If the tax lien and collections appear on your credit report even as paid off AX will reject you.

Stick with your BofA card for now. BofA AX card would not approve you with your current scores. Wait until your lowest score is at least 720 before going to BofA. Your HIGH LIMIT card of $33,000 I am sure you have had since BEFORE the 2006 issues.

BofA is a good card company just so long as you dont do the signature card. I have 4 BofA large credit line cards as well.

I WOULD NOT APPLY TO ANY AMEX CARD HAVING COLLECTION ON FILE. BESIDES, AMEX NOTORIOUSLY KNOWN FOR FREQUENT AR AND FR. CHECK OUT CITI AMEX PLATINUM.

Hi Everyone:

I would like opinions and strategies on acquiring an American Express Card. Here are some credit facts about myself:

Experian 714
Equifax 705
Trans Union 699

I have one credit card with Bank of America with a $33k limit. I have one "hard" inquiry in the last 12 months and my credit utilization on my credit card is less than 1% a month which I pay on twice a month paying off the bill every month. I don't carry any other debt, i.e. mortgage, auto loan, revolving debt, i.e., and my total household income is over $100k I am cautious about applying for an AMEX card because I have had collections and tax liens in the past which I have paid off (these were paid off in 2006). I know that hard hits take from your Credit Score and am very cautious about when and who I apply to when it comes to credit cards. Does anyone have an ideas on which AMEX cards I should apply for or should I wait longer before applying.

Note: I now BOA offers an American Express Card but my card has the same simlarities so I gain nothing by applying for that card

Thanks

Hmmm, well, all banks , ok, I cant say it hehehehe, if you have a collection or any bad marks like a judgement, charge off etc, you can NOT get a card from AX, Discover, or Banks with over 50 branches EXCEPT for Capital one and HSBC they have BOTH level of cards. So you can get approved for like a HSBC orchard bank card but will DENY you for a AX card.

Wow Porgy, sorry for what you had been through with AMEX, but why would "Tier One" cards do that you? Now I am starting to think other thoughts.

https://www.financeglobe.com/SocialNet/index.php?page=forum§ion=topic&top_id=100016[/URL]
Go for glory porgy.
[/quote]

Wow we should have a FG Wall of Fame. Meya, you should post another topic in the lounge and call it wall of fame. As a matter of fact, I will do it myself right now.

Wow Porgy, sorry for what you had been through with AMEX, but why would "Tier One" cards do that you? Now I am starting to think other thoughts.
[/quote]https://www.financeglobe.com/SocialNet/index.php?page=forum§ion=topic&top_id=100016[/URL]
Go for glory porgy.

Porgy, the reason why people want an AMEX is because of the reputation that AMEX has because it was one of the credit cards that started it all. They're not meant for casual use, it's usually used at restaurants, mall, etc. so it will make a big impression of you. People will say stuff like "Wow, he has an AMEX card."

I think it is the reputation, history, feeling of having a "top dog" credit card, power, design, and attention. I don't know if all these reasons apply to others, but I will be glad when I get one. I really like the Clear Blue, they do not have all those charges like the other AMEX cards. To be honest, I think that it makes individuals in my perdicument feel like we have made it to the top of the world. I have seen where some of there cards have annual fees in the hundreds. Well if that is the case, I will pay my annual feem just to have a year worth of feeling an AMEX card.

I dont agree. I think a platinum card from Visa or Mastercard is a better card. I dont pay AX an annual fee. The reason I do not like American Express is; well, think about it. If you have to do a dispute, a visa or mastercard will file a chargeback for you and fight for you. American Express is 10000% on the merchants side. I have lost 3 disputes with AX and they where for merchandise I ordered online that was never shipped to me. If that happend with a bank visa or mastercard, they would have done a chargeback and issued me a refund

You may think AX is so great, but once you have the card, you for sure will not think so once you have to pay for items that you never had. Merchants form a scam and AX backs them up. Thats the main reason my AX card stays in my underwear draw. The sock draw is too good for it LOL heheheheheh, ok shutting up now

I think it is the reputation, history, feeling of having a "top dog" credit card, power, design, and attention. I don't know if all these reasons apply to others, but I will be glad when I get one. I really like the Clear Blue, they do not have all those charges like the other AMEX cards. To be honest, I think that it makes individuals in my perdicument feel like we have made it to the top of the world. I have seen where some of there cards have annual fees in the hundreds. Well if that is the case, I will pay my annual feem just to have a year worth of feeling an AMEX card.

What is the purpose of having an Amex Card??????? Merchants say they cost more to process, the rewards are nothing great. I rank it up there with the GAP card, its like a noose around you, just not in the same place heheheheheh