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Established Contributor
shane82388
Posts: 952
Registered: ‎07-16-2010

AMEX Pay Over Time On Charge Cards

Is this a difficult thing to qualify for? Ive had a Green AMEX since August and its been perfectly taken care of, i tried to see if i qualified for the pay over time thing and it said "not at this time".

 

Whats the story on this feature? Is it easier to just get a revolving account with them or is it easier to be approved for the "pay over time" feature for the charge cards?

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Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012

Re: AMEX Pay Over Time On Charge Cards

It's not that hard.  Amex automatically enrolled my Gold card in it after about 6 months.  As long as you keep paying on time, I'd expect you to be eligible shortly.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: AMEX Pay Over Time On Charge Cards


shane82388 wrote:

Is this a difficult thing to qualify for? Ive had a Green AMEX since August and its been perfectly taken care of, i tried to see if i qualified for the pay over time thing and it said "not at this time".

 

Whats the story on this feature? Is it easier to just get a revolving account with them or is it easier to be approved for the "pay over time" feature for the charge cards?


I would be concerned about asking for it, they may take it as you can't pay like you could before and want to try an F/R. but thats an extreme circumstance (say if they SP'ed you once you asked for it and didn't like what they see)




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Senior Contributor
Ron1
Posts: 4,707
Registered: ‎05-23-2009

Re: AMEX Pay Over Time On Charge Cards

[ Edited ]

I don't think you can enroll and they give it to you when you qualify. I got for my PR Gold and Green. The rate is high.  My brother had it and they took it away when he carried balance over three months. By the way, Pay over times doesn't report to CRA.

 

 

Ron.

Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012

Re: AMEX Pay Over Time On Charge Cards

I don't think Amex looks too negatively at enrolling in it.  I think they realize people are having to use other cards for larger, unplanned purchases like new appliances or car repairs that they may need an extra month or two to pay.  Amex would rather them keep using their Amex for these purchases.  

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Senior Contributor
Ron1
Posts: 4,707
Registered: ‎05-23-2009

Re: AMEX Pay Over Time On Charge Cards

You can get a Plum Card and spread it two months without paying any interest.

 

 

Ron.

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: AMEX Pay Over Time On Charge Cards


Koop10010 wrote:

I don't think Amex looks too negatively at enrolling in it.  I think they realize people are having to use other cards for larger, unplanned purchases like new appliances or car repairs that they may need an extra month or two to pay.  Amex would rather them keep using their Amex for these purchases.  


I can see your point there too. My comment was only geared towards someone who is in a pinch and showing high util. on their reports and could possibly throw a red flag up for AMEX by asking for it.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012

Re: AMEX Pay Over Time On Charge Cards


LS2982 wrote:

Koop10010 wrote:

I don't think Amex looks too negatively at enrolling in it.  I think they realize people are having to use other cards for larger, unplanned purchases like new appliances or car repairs that they may need an extra month or two to pay.  Amex would rather them keep using their Amex for these purchases.  


I can see your point there too. My comment was only geared towards someone who is in a pinch and showing high util. on their reports and could possibly throw a red flag up for AMEX by asking for it.


Yes, I'm sure that would be true.  Also using the extended payment option continuously and/or for luxury purchases is probably a bad idea as well.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Established Contributor
shane82388
Posts: 952
Registered: ‎07-16-2010

Re: AMEX Pay Over Time On Charge Cards

So in other words its there to not be used and you should really get a revolving card if you plan on paying off purchases over time...at least thats what it seems like.

$1200 $1250 $1250 NPSL $5300 $1350 $2537

$1750 $5000 $7500 $2416 $6500 $3000
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: AMEX Pay Over Time On Charge Cards


shane82388 wrote:

So in other words its there to not be used and you should really get a revolving card if you plan on paying off purchases over time...at least thats what it seems like.


I think it's there for when you absolutely need it and not to abuse it.




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