topic Re: Just got 1st AMEX Zync statement in Credit Cards

Just got 1st AMEX Zync statement

Duncanrr — Sat, 13 Oct 2012 01:41:48 GMT

Hurray! I just got my first ever AMEX Zync statement. I put a little over 1k on the card (taking it easy at start) and my "please pay date" is the 26th. I'll pay on 30th when I get paid. My Delta card generates its first statement on the 14th but I have already PIF that account. Ran about $900 through the card on first month.

When should I expect these new accounts to hit CRs?

Re: Just got 1st AMEX Zync statement

creditnocash — Sat, 13 Oct 2012 01:48:36 GMT

a few days after.

my first statement was the 29th and reported by the 7th.

since its a charge card it doesn't effect util.

have 500 limit and put about 400 through it and pif before the statement.

Re: Just got 1st AMEX Zync statement

GoldenloveNY — Sat, 13 Oct 2012 01:55:07 GMT

Yea, me too. My "please pay by" date is the 25th though. I put close to 900 dollars. I am sure Amex is happy with my dozens of charges. Will pay by the 20th. I like the NPSL. I called Amex about being worrying if I keep charging even though I won't pay my statement balance until the 25th and they informed me it was okay.. I can go ahead and keep charging, but only the statement balance will be due..... LOL

Re: Just got 1st AMEX Zync statement

creditnocash — Sat, 13 Oct 2012 01:58:20 GMT

GoldenloveNY wrote:
Yea, me too. My "please pay by" date is the 25th though. I put close to 900 dollars. I am sure Amex is happy with my dozens of charges. Will pay by the 20th. I like the NPSL. I called Amex about being worrying if I keep charging even though I won't pay my statement balance until the 25th and they informed me it was okay.. I can go ahead and keep charging, but only the statement balance will be due..... LOL

yes since its a charge card You cant technically carry a balance. Its like the interest period for revolvers. You make a purchase for 2k. You don't get charged interest that period. next month if You pif before your statement date You don't get charged interest.

Re: Just got 1st AMEX Zync statement

GoldenloveNY — Sat, 13 Oct 2012 02:02:45 GMT

Yea, the rep informed me that. I honestly am loving Amex. I called CS three times since I opened my ZYNC and each rep was so nice.

Re: Just got 1st AMEX Zync statement

Ron1 — Sat, 13 Oct 2012 02:02:55 GMT

You need to pay in full by the due date before the due date.. After that, they might charge late fee or report you as deliquent.

Ron.

Re: Just got 1st AMEX Zync statement

jsucool76 — Sat, 13 Oct 2012 02:04:35 GMT

GoldenloveNY wrote:
Yea, the rep informed me that. I honestly am loving Amex. I called CS three times since I opened my ZYNC and each rep was so nice.

Sounds just like cap1....loljk :D

Congrats on your 1 month anniversary with zync.

Wish I got one D: Can I borrow yours? Just for a few days :D

Re: Just got 1st AMEX Zync statement

Duncanrr — Sat, 13 Oct 2012 02:11:15 GMT

Ron1 wrote:
You need to pay in full by the due date before the due date.. After that, they might charge late fee or report you as deliquent.

Ron.

The due date is the day before the next statement date, right? Isn't the please pay date a suggestion? Normally, I'll pay on the 15th but since I'm straighten out high UTIL due to hurricane, Im planning on paying at end of month (11 days before next statement date and 4 days after please pay by date).

Re: Just got 1st AMEX Zync statement

jd5189 — Sat, 13 Oct 2012 02:14:30 GMT

Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!

Re: Just got 1st AMEX Zync statement

jsucool76 — Sat, 13 Oct 2012 02:16:11 GMT

Duncanrr wrote:
Ron1 wrote:
You need to pay in full by the due date before the due date.. After that, they might charge late fee or report you as deliquent.

Ron.
The due date is the day before the next statement date, right? Isn't the please pay date a suggestion? Normally, I'll pay on the 15th but since I'm straighten out high UTIL due to hurricane, Im planning on paying at end of month (11 days before next statement date and 4 days after please pay by date).

This thread might have some useful information in it. Only a few people new about the "Please Pay By Date," but it was explained that they use that for a guideline for those who mail in payments to ensure that they get to Amex on time.

Hope this helps!

Re: Just got 1st AMEX Zync statement

Duncanrr — Sat, 13 Oct 2012 02:17:38 GMT

jd5189 wrote:
Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!

Thanks. Forgot about that, my glorious 20 years of backdated goodness.

Re: Just got 1st AMEX Zync statement

jd5189 — Sat, 13 Oct 2012 02:19:49 GMT

Duncanrr wrote:
jd5189 wrote:
Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!
Thanks. Forgot about that, my glorious 20 years of backdated goodness.

Oh... just 20 years.... that's all?? :smileytongue:

Re: Just got 1st AMEX Zync statement

jsucool76 — Sat, 13 Oct 2012 02:20:54 GMT

jd5189 wrote:
Duncanrr wrote:
jd5189 wrote:
Duncanrr,
Be prepared to not get an alert when they hit your account. Equifax never alerted me to the new accounts because they didn't show up as new because of them being backdated!
Thanks. Forgot about that, my glorious 20 years of backdated goodness.
Oh... just 20 years.... that's all?? :smileytongue:

Can I get some of the backdating goodness? I'm not even 20 years old! lol, would make my credit reports look stellar :D

Re: Just got 1st AMEX Zync statement

Duncanrr — Sat, 13 Oct 2012 02:26:13 GMT

i got my first Amex when I was freshman in college. Proceeded to get in credit trouble and have avoided credit cards for 12+ years. It's a major step for me to have another Amex. The fact that my Delta card is also backdated means I get a double dip on AAoA. My recent app spree added 5 CC to my CR and with back dating the AAoA of these 5 new accounts is 8 years!

Re: Just got 1st AMEX Zync statement

kobe2012 — Sat, 13 Oct 2012 05:42:29 GMT

I'm confused with the due date on my zync, right now, it states "payment not required"..... and statement closes 10/25.... once the statement closes, do I have before 11/25 to pay my balance??? or do I need to pay the balance before 10/25???

Re: Just got 1st AMEX Zync statement

Ron1 — Sat, 13 Oct 2012 07:23:08 GMT

Duncanrr wrote:
Ron1 wrote:
You need to pay in full by the due date before the due date.. After that, they might charge late fee or report you as deliquent.

Ron.
The due date is the day before the next statement date, right? Isn't the please pay date a suggestion? Normally, I'll pay on the 15th but since I'm straighten out high UTIL due to hurricane, Im planning on paying at end of month (11 days before next statement date and 4 days after please pay by date).

It doesn't matter the charge doesn't count the credit utiliization because you cannot carry balance. Amex need your payment on or before 26th of this month. If you need more time, you can call time to make another arrangement. You need to pay in full for the charge card unlike the credit card. After 26th, Amex might charge late fee. Amex might report your account as deliquent if you wait until next statement. I usually pay the card as soon as the statement comes out every month. By the way, they might raise your spending limit if you pay on time.

Here is some info for card payment:

http://about.americanexpress.com/cr/pb1.aspx

http://about.americanexpress.com/cr/pb3.aspx

Quote from Amex:

Your Charge Card payment is due in full by the “Please Pay By Date” indcated on your monthly billing statement. The "pay in full" nature of the charge card is to help our Cardmembers avoid any unnecessary interest charges.

Ron.

Re: Just got 1st AMEX Zync statement

Duncanrr — Sat, 13 Oct 2012 13:39:32 GMT

@Ron. The first link you posted is for their revolvers and not applicable to charge cards. I'm pretty confident the due date for the charge card is the day before next statement and the please pay by date is a recommendation for people that mail in their payments.

Re: Just got 1st AMEX Zync statement

webhopper — Sat, 13 Oct 2012 14:34:04 GMT

Amex calculates interanal score by your adherance to the please pay date. I usually pay 10-15 days before the please pay date... If I were you I would not pay after the "please pay by" date.

Re: Just got 1st AMEX Zync statement

Duncanrr — Sat, 13 Oct 2012 14:47:51 GMT

webhopper wrote:
Amex calculates interanal score by your adherance to the please pay date. I usually pay 10-15 days before the please pay date... If I were you I would not pay after the "please pay by" date.

Where did you get this info from? Like I've said before, normally this will not be an issue but I'm trying to juggle paying off storm related damage items. Im just seem to be getting different info from different people.

Re: Just got 1st AMEX Zync statement

cashnocredit — Sat, 13 Oct 2012 15:39:46 GMT

Here's some of the cardmember agreement for charge cards

Payment of the New Balance is due upon receipt of your

statement.

If you do not pay the Amount Due on a billing statement before the 10th day after the next Closing Date, you will be charged a late payment fee. This fee will be $25, or $35 for a subsequent late payment in the next 6 billing periods. In addition, if you do not pay an Amount Due for two billing periods in a row, we will charge the greater of $35 or 2.99% of the amount past due.

The "please pay by" is not referenced in the agreement. However, it is due upon reciept and how long you take to pay would likely be evaluated over time as part of an internal exposure calculation for setting spending limits.