For Me kkindall, since I use my AMEX everyday, I doubt if I would see a jump due to them ( AMEX ) only reporting once a month to the bureaus. Thing is kkindall if I pay off my daily purchase items the next following day, and taking out emergencies expenditures that would cost over, say, $100+, when AMEX does report to the bureaus, it will be a small amount and that I can live with.

An AMEX charge card, if used correctly, can build a great relationship with the company. Showing AMEX that you are being responsible with the Charge Card and not exposing them to a lot of debt at any given point by paying off your charges on a daily basis will endear them to you and continue to grow your score.

Fantastic Information! A couple of follow up questions if I may!

Using my method your are a very low risk to AMEX because of your consistent low balance and small exposure for them. They will increase your spending ability on your charge card beyond comprehension !

Are you referring to a how large of a purchase I can make in one transaction?

Instead of paying off every thirty days, I pay off the balance everyday,

Do you see a credit score bump each time you do this?

In this scenario, come the bill date I'm at zero or very close to it.

If you are not at Zero Balance do you see your credit score dip?

Thanks in advance,

Kenny

Good Evening kkindall,

I too have an AMEX card and based on your comments, you have a Charge Card also. Instead of paying off every thirty days, I pay off the balance everyday, i.e. pay for my lunch and go back to work and pay off lunch bill using online banking. In this scenario, come the bill date I'm at zero or very close to it. Of course this doesn't work if you purchase on Friday, use Online Bill pay, and the money isn't moved until Monday. Of course I use my card for other things than lunch but you get the picture....

Anyway, my credit score has increased dramatically. I have two other No Preset Spending Limit cards with BOA and treat them the same way.

Using my method your are a very low risk to AMEX because of your consistent low balance and small exposure for them. They will increase your spending ability on your charge card beyond comprehension !

Bottom Line : your credit score should rise........

Say your billing statement ends on the 15th of each month, American Express will report whatever your balance is on or near the 1st. For example, if you charged $500 in one month; both your credit limit and balance will be reported as $500. This could reflect poorly, but most creditors know what's up—if you plan on applying for more credit—have no fear. The way to avoid this... have your balance low on or around the 1st. If you have other credit cards with high limits this isn't something you should worry about (even like $4k available is enough).

]Equifax does not view it as a revolving credit card, but as a net-30 account. So do I get a credit score increase every time I satisfy that net-30 or is it not as impactful?[/quote]

When I looked at my credit report recently, Equifax did not lump my American Express activity into my credit utilization. It categorized it as a "30 day" account, or a account that has to be paid in full in 30 days. More to the point, will I get a credit score bump each time pay the entire balance prior to the statement date, or will it not have that kind of impact?

Thanks again,
Kenny

So I am new to American Express.

The idea is that I use the card and pay off the balance by the statement date which is a great help for cash flow. But how will it impact my credit score?

Equifax does not view it as a revolving credit card, but as a net-30 account. So do I get a credit score increase every time I satisfy that net-30 or is it not as impactful?

Thanks in advance,

Kenny

Hi, Kenny. I am going to assume you have an American Express charge card.


Say your billing statement ends on the 15th of each month, American Express will report whatever your balance is on or near the 1st. For example, if you charged $500 in one month; both your credit limit and balance will be reported as $500. This could reflect poorly, but most creditors know what's up—if you plan on applying for more credit—have no fear. The way to avoid this... have your balance low on or around the 1st. If you have other credit cards with high limits this isn't something you should worry about (even like $4k available is enough).

If your not happy with this model, I suggest applying for a new American Express in four to six months. The Blue Cash has been great to me, and I started with the Zync charge card. They upgraded my Blue Cash limit from $1,800 to $5,000 after six months.

Good luck!

So I am new to American Express.

The idea is that I use the card and pay off the balance by the statement date which is a great help for cash flow. But how will it impact my credit score?

Equifax does not view it as a revolving credit card, but as a net-30 account. So do I get a credit score increase every time I satisfy that net-30 or is it not as impactful?

Thanks in advance,

Kenny