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AMEX Gold Card - Due Date / Late payment policy

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Anonymous
Not applicable

AMEX Gold Card - Due Date / Late payment policy

So, my AMEX statement closes the 20th, and usually my payment is due the 5th (15 days from statement cut).  My credit scoredhas tanked over the past year due to pending short sale and also high utilization on other cards, however, I put ALL my charges on my Amex ($5k month) and have paid in full by due date every month for years... never a day late and no other late payments to any other creditor.

 

In an ironic twist of fate, I'm having the best month ever since starting my own business a year ago, by far, but looking at cash flow forecasting I won't be able to cover the full balance on the 5th (but would have no problem making payment by the 7th or 8th when client checks come in).  I called to ask if the due date was flexible - and to my surprise - I was told the 5th is just a "suggested due date" and as long as it's paid in full before my statement closes again I'm not considered late...meaning I have a full 30 day grace period...

 

Does anyone know if this is REALLY the case?  Given my score has tanked since I became an AMEX customer, I'd like to avoid doing anything that would have them reconsider my consider...  but if I knew I had an extra 5 days or so to pay it'd be a hell of a lot less stress this month!  I know people complain a lot about AMEX but they have been great to me, i.e. overnighting me a new card countless times when I carelessly lost or damaged the card ;-) and the rewards are great.

 

Does anyone have any experience with paying after the "suggested" due date?

Message 1 of 4
3 REPLIES 3
CHARGE_IT
Regular Contributor

Re: AMEX Gold Card - Due Date / Late payment policy

There will always be a lot of mis-information about Amex.

I have two Clear and Blue. (must be paid by the due date)

I have Green , Gold and Platinum for many , many years. ( I have always paid by closing and never by the due date)

 

I suggest that you call several times on different days and see if you can get anyone to tell you differently.  Only once did this come up when I was speaking with them and he confirmed what I always knew.

 

I always get a chuckle about the way people think they have to walk on ice. There are definitely things that work better than the others, but using and paying is what they are all about. There rewards aren't bad either when you catch the specials. The last six months of last year will pay for my next vacation as it does every year.

 

Use it.

 

CI

Message 2 of 4
Itsmeagain
Established Contributor

Re: AMEX Gold Card - Due Date / Late payment policy

What the CSR told you is true. 

 

The payment date on your statement is only a "suggested" payment date. 

 

I manage the accounts payable for our company and have used this perk to our advantage many times.  Just be SURE the payment is received on or before the next statement date and you will be fine.  We have been doing this for our Gold cards for years and have never received any adverse action.  Our statements are usually in the 5k to 10k range.


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Message 3 of 4
Anonymous
Not applicable

Re: AMEX Gold Card - Due Date / Late payment policy

Thank you for taking the time to respond! Smiley Happy

 

Glad to hear from someone who knows.

 

Message 4 of 4
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