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Valued Member
aliciam
Posts: 30
Registered: ‎01-21-2009
0

Re: American Express Payment Date "Please Pay By"

And by send in, I mean make a payment online.  I don't get the mailing of payments, either.

2/26/11 TU 661 EQ 653
5/27/11 TU 680 EQ 679
Regular Contributor
JRomulus
Posts: 127
Registered: ‎07-26-2010
0

Re: American Express Payment Date "Please Pay By"

From the Amex site:

 

When is my Charge Card payment due?

 

If you have an American Express charge card, payment is due in full when
you receive your monthly statement. The "pay in full" nature of the charge card
assures Cardmembers that no finance charges will be assessed on the charge card
balance. As a payment reminder, we include a "Please
Pay By Date" on the statement, a suggested payment date that is two weeks after the statement closing date.

 

 

The first sentence just means "it's due", not that "it's late".

So, I'm guessing that as long as your payment hits their books before the next statement closing date you're good..... but I guess like others have said, why poke the beast?

I like auto-pay (use it as a backstop in case I zone out and forget send the monthly payment) and for charge cards it automatically pays two weeks after the statement closing date.


Starting Score: TU 699 EQ 651 EX FAKO 705
Current Score: TU 724 EQ 714 EX FAKO 770
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Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
0

Re: American Express Payment Date "Please Pay By"

 


KayMD wrote:

I have a  American Express ZYNC card.

To date, I have always paid the balance due in full
on (or before) the date on the payment stub
labeled "PLEASE PAY BY:"

I spoke with a CSR today at AMEX who informed me that
the "Please pay by" date is not the real "due date"
..that I really had until the day before my next billing
cycle ended to pay in full and avoid any charges.

In my case the dates are something like this:

The "please pay by" date is 05/26/11

The day before my next billing cycle ends is 06/26/11.

Is this correct?

 

Can someone tell me the real scoop on AMEX payment dates?


I was told the exact same thing by Amex CSR. This said, I still pay before the date that my statement shows.

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Established Member
KayMD
Posts: 77
Registered: ‎09-27-2010
0

Re: American Express Payment Date "Please Pay By"

Cool. The reason for this is that I have a Prom coming up and all my money has been going into the cost of this once in a lifetime night. So I need a little more time to pay off my $200 bill.

 

What's on my plate:

 

Senior Dues 

Prom 

Obligations (Money that I owe the school) ex: lost school book, class fees

Regular Contributor
shadow2k
Posts: 108
Registered: ‎01-04-2008
0

Re: American Express Payment Date "Please Pay By"

[ Edited ]

 


KayMD wrote:

I have a  American Express ZYNC card.

To date, I have always paid the balance due in full
on (or before) the date on the payment stub
labeled "PLEASE PAY BY:"

I spoke with a CSR today at AMEX who informed me that
the "Please pay by" date is not the real "due date"
..that I really had until the day before my next billing
cycle ended to pay in full and avoid any charges.

In my case the dates are something like this:

The "please pay by" date is 05/26/11

The day before my next billing cycle ends is 06/26/11.

Is this correct?

 

Can someone tell me the real scoop on AMEX payment dates?


Your dates look off to me.  Your pay by date is typically the same every month.  So if it is 5/26, it would also be 6/26...and it isn't going to the same as your next billing cycle ending.  Look at it this way.  If you bought something on 4/27 right after a statment cut, your next bill doesn't print until 5/26...so pay by date would be when...6/26?...and you don't have to "actually" pay until when, 7/26?  No, that's flat out wrong.

 

My pay by date is typically the 10th, or roughly 25 days after the statement cut on the 15th.  So bill prints on 5/15, bill due on 6/10.  That's the 25 day grace period that all your lenders talk about.  Pay before that date, no interest.  Now technically if I pay before the next bill cuts on 6/15...I'd probably avoid lates and interest.  That's how most billing systems work...but I always pay before the Pay By date, and have never tested it with anything that would affect my credit.

 

This is roughly the same billing system used by 90% of companies that I'm aware of.  My company will bill you on the 1st, it is due approx 3 weeks later, and says you are late if you don't pay it by that date.  But you'd only get a late fee if the next statment prints on the 1st without your payment being received.

 

I wouldn't play around with my credit and test this out though.

Regular Contributor
networkguy
Posts: 217
Registered: ‎04-17-2007
0

Re: American Express Payment Date "Please Pay By"

I'll reitterate what others have said. On charge cards, the "pay by" date is NOT your actual pay by date. Your actual due date before it's considered late is one day before your next billing cycle ends. Which will typically be about 2 weeks after your "pay by" date. In my mcase, my statement ends on the 26th, and my pay by date is the 13th of the following month; however, my REAL pay by date is the 25th of the following month.

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: American Express Payment Date "Please Pay By"

It would be a violation of the credit card law to assess a late fee on the "suggested date". 

 

From my past experiences with them on a green card, paying by the statement date was the expectation,

Established Member
KayMD
Posts: 77
Registered: ‎09-27-2010
0

Re: American Express Payment Date "Please Pay By"

My statement close date is on the 11th of each month.

Member
superfresh08
Posts: 6
Registered: ‎03-31-2011
0

Re: American Express Payment Date "Please Pay By"

I just called AMEX because I am a new customer and want to stay in full compliance. My statement closes tomorrow and the CSR stated that I will have a "Please Pay By Date" which is "suggested" BUT I have 30 days to pay in full. That 30 days is my "Grace Period" He stated that techinically my bill is due in full BEFORE the close of the next bill cycle, which would be 30 days. I like this because life happens and you just don't know what your financial state may be at a given time do to things out of your control. I hope this helps...

Regular Contributor
danpass
Posts: 227
Registered: ‎06-01-2011
0

Re: American Express Payment Date "Please Pay By"

I have to say that a CSR told me the same thing, "until the day before the next statement close"

 

I didn't like it either.  I have Auto-Pay set up for the regular due date and the Due Amount.

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