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AMEX Pay Over Time?

Established Contributor

Re: AMEX Pay Over Time?

Thanks for all of the responses!

 

So it basically sounds like something I'm probably never going to use lol. I was just really shocked by the limit...I'm a recent college grad, without a lot of income and I rarely put more than $300 through my Zync a month, so hearing something with a $35,000 limit just had me totally flabbergasted. Smiley LOL

 

I don't make any large purchases, and even if I did I'd probably put it on one of my CC's. But I guess it's good to have it there, you never know!

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Message 11 of 18
Established Contributor

Re: AMEX Pay Over Time?

I received the same letter with the same limit. No Apr or nothing and I have never used my zync los.
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 12 of 18
Valued Contributor

Re: AMEX Pay Over Time?

Just got the same letter.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 13 of 18
Valued Contributor

Re: AMEX Pay Over Time?

Im hoping i get that letter aswell!
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 14 of 18
Regular Contributor

Re: AMEX Pay Over Time?

 

Same letter.  Does this mean high limit on credit report will be 35k?


Starting Score: <600 & No Score 2/2011
Current Score EQ : 726
Current Score (TU Walmart): 676
Goal Score: 750


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Message 15 of 18
Valued Contributor

Re: AMEX Pay Over Time?


buildingitbackup wrote:

 

Same letter.  Does this mean high limit on credit report will be 35k?


No.  It's an upper limit imposed on the whole class of charge cards. An individual will typically have a lower limt.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 16 of 18
Regular Contributor

Re: AMEX Pay Over Time?

So AMEX will start reporting a utilization percentage instead of your total balance that is to be paid in full each month?  


Starting Score: <600 & No Score 2/2011
Current Score EQ : 726
Current Score (TU Walmart): 676
Goal Score: 750


Take the FICO Fitness Challenge
Message 17 of 18
Highlighted
Valued Contributor

Re: AMEX Pay Over Time?


buildingitbackup wrote:

So AMEX will start reporting a utilization percentage instead of your total balance that is to be paid in full each month?  


It's a good question how Amex reports balances. Their charge cards typically report balances as due each month. Maybe they seperate out the portion that is payable over time. The user has to select those purchases >$100 they wish to POT. It's not automatic and it's only available on those purchases Amex elects to extend the offer on. No doubt it varies.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 18 of 18