DogDadNY518 wrote:Basically, I wanted to know what date in each month does Amex report to the bureaus.
You should really consider report dates for each account versus assuming that a creditor reports all accounts on the same date. There are some creditors that report on a fixed date but they seem to be the minority. US Bank is one example and they report on the last business day of the month.
DogDadNY518 wrote:My plan was to pay everything completely before that date (regardless of my statement or due date) so that I would show a $0 balance to the bureaus all the time.
The statement date absolutely matters for AmEx as they report on statement date. If you want a 0 balance to report for an AmEx account then you need to ensure that your balance is 0 on statement date. I'm not aware of any creditor that reports on due date so the due date is irrelevant.
DogDadNY518 wrote:I have a charge card. A PRG. He told me that after the statement is cut, then I have time to pay, and then the account is reported to the bureau on the payment due date.
Their charge cards report on closing date, not due date. The due date is several days before the next cycle's start date.
For example, our Platinum closes on the 11th. The Please Pay By date is the 26th. The last day we can pay is the 6th of the following month. A payment after the 11th won't have any impact on the balance reported on the 11th.
DogDadNY518 wrote:And I have heard that some of the bureaus have a hard time with utilization because there isn't a credit limit and so anything that reports is always seen as maxing out the card.
The bureaus don't really care. They're only responsible for collecting the data in your reports and maintaining your reports and providing it when requested. It's the scoring models and creditors that care. Current scoring models do not include charge cards in revolving utilization. I'm not sure about the older models used for mortgages though.
However, even without knowing that what sort of impact would that have on your revolving utilization, assuming that the charge card balance was included? Is it 1%? 10%? Knowing the impact to revolving utilization can give you an idea of how significant the change would be to revolving utilization. You're not, for example, going to see a drastic change for a few % versus a much larger %.
Elijahmex wrote:0$ balance suggest that activity is low IMO so i rather have a little balance show. That's just me.
The 0 balance thing is part of the suggestion "allow one balance to report with low revolving utilization" for those wanting to eke out as many points as possible. That's because scoring models favor not only lower revolving utilization but fewer reported balances as well.
I don't bother with it as even with most of my revolvers reporting balances my FICO 8's are around 800 or higher. I could eke out some more points but I don't find it necessary. I was able to qualify for best terms with Chase mortgage without having to micromanage revolving utilization and number of balances. However, my overall revolving utilization falls at about 3%.
Activity in this context really doesn't matter aside from avoiding having all of your revolving accounts report 0 balances as there is a hit for that. You're not really gaining anything by having a small amount report versus a 0 report on a given tradeline assuming that you have at least 1 revolver reporting a balance. That said, do whatever it is that works for you. Just be aware of how models and creditors evaluate reports when determining that.