FindArena > Find Arena > Banking

Thread Tools Display Modes
  #1 ()
Shetry : The statement closing date for my personal Amex Gold card is the 22nd of the month. What date would they report my charge balance to the three credit reporting agencies?

I run up a large balance each month because I travel on business but I pay it off in full each month. I'm getting ready to refi my mortgage and I want the latest card balance to show as close to zero as possible when they run my FICO score.

  Reply With Quote
  #2 ()
unpalingzz : I have Amex, and I was just looking at my reports carefully.
I noticed they report your balance on the closing date to the bureaus.
Just be aware that it can take 30 days for reports to update this information.

So.. if you want it to show $0,
pay 1 week before the closing date on your statement to allow payment to clear.
  Reply With Quote
  #3 ()
unsuffrot : you are really over thinking this as far as CS go. The majority of the score takes in 12-18 months ( i say majority because there are about 100 formula in use) of credit utilization so while having a zero balance will look great the fact is the score reflects the usage and if you are applying for say a home loan the underwriter will look at the balances reported which we see for an entire 5 year period and a sudden zero will look odd to us. Just do what you normally do. If the card is actually paid for by the business which is not unusual you can point that out. If your business is sole proprietor the business portion is already shown on your tax return anyways. You have nothing to gain by "hiding" this and far more to loose. Banks are desperate to loan today n equity loan should be 100% free of all fees if you have a decent score and easy to get.
  Reply With Quote
  #4 ()
Miztiessy : I have recently bought something online & it says pre auth purchase & the money has been taken off my card & I got an email saying my order should ship in the next 24hrs. does this mean everything went through fine? thanks! :)
oh & the status of it says app
  Reply With Quote
  #5 ()
dwklmwgv : yes :(
  Reply With Quote
  #6 ()
kedduadwaytum : The seller has had the money set aside on your credit card. It ties up part of your credit line. At time of shipment they will settle with the card company and the money will be deducted from your card balance. Hotels do this all the time when you check in.
  Reply With Quote
  #7 ()
esyez044 : Hi, I would like to know if I could use my Visa debit card as a credit card for shopping at places like Target or Walmart? it does have the logo on it. Would i also be able to make purchases upto atleast $150?
  Reply With Quote
  #8 ()
prieneupe : You can use a debit card with the Visa logo at places where Visa is accepted. The thing is it wouldn't really be acting as a credit card since the money still comes out of your account immediately. With a credit card, you spend the credit card company's money and pay them back over time. With a debit card with a CC logo, if you don't have the money in your account, you can't buy things.

The maximum amount you can spend depends on how much money is in your account, and whether or not you or your bank have created a maximum amount on your account. You can contact your bank to find out whether there's any limit. $150 is a small amount and probably far lower than your daily spending maximum.
  Reply With Quote
  #9 ()
KaoiljejnnSam : Having the logo does not make it a credit card.

Even hitting the button for "credit" on the machine at check out does not make it a credit card. That's only so you don't have to enter the pin number.

Yes, you can use your debit card to shop at Target and Walmart. Provided you have enough money in your account to cover it.

You can purchase most any amount - as long as you have enough money in your account. At - checkout - they will know instantly whether you have the funds or not.
  Reply With Quote
  #10 ()
XDedris : You can use it but, the amount will be debited to your a/c immediately . You may use it up to U$200/- provided your a/c is having sufficient balance.This transactions can't be called credit as it does not involve any credit.
  Reply With Quote