- Centurion Member
- Posts: 538
- Joined: Fri Mar 09, 2012 9:29 am
- Location: San Francisco, CA
For the charge cards, it is not accurate that it reports your largest payment. Basically, it will report your balance on the date it reports to the credit bureau which is the date where your statement is generated. The credit bureaus keep track of the highest balance reported on that charge card recently (1-2 years).
Most new scoring models don't include charge cards in utilization calculations. But a few do by taking the highest balance and dividing that into the last reported balance.
Don't bother paying AMEX early unless you know you are going to be applying for credit soon and are worried that they will use AMEX utilization in their calculations. While it is nice to see a higher score when you pull your report, it is only important when you need new credit.
[blue cash preferred].[/blue cash preferred]
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k