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Amex FR from multiple payments per month?

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Anonymous
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Re: Amex FR from multiple payments per month?


@IllinoisNative wrote:

Regarding holds on payments, we do don't do this if you make multiple payments.  We do this on new accounts who have no payment history with us especially if they make large payments. 


Which again can easily be avoided by pushing payments out of the bank account rather than pulling it from the CC account.

Message 51 of 54
Anonymous
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Re: Amex FR from multiple payments per month?

I make multiple payments with no issues with Amex. They seem to like me best when I spend fairly big, pay it off, and spend again.
Message 52 of 54
NRB525
Super Contributor

Re: Amex FR from multiple payments per month?


@Anonymous wrote:

@IllinoisNative wrote:

Regarding holds on payments, we do don't do this if you make multiple payments.  We do this on new accounts who have no payment history with us especially if they make large payments. 


Which again can easily be avoided by pushing payments out of the bank account rather than pulling it from the CC account.


Correct me if I'm wrong IN, but "hold on payment" means that the payment is not immediately used to make that part of credit amount available again, until that payment clears the cardholders bank a few days later, correct?

 

So the technique of pushing a payment from the cardholders own bank account to the CCC merely shifts that clearing time delay into the days it takes from the cardholder saying "Send funds to CCC x" to move the funds from the cardholders bank account to the CCC.

 

They result in the same delay in releasing the credit line for further use. No advantage to either (other than you know up front that you have a timing delay when you push the payment from your checking account).

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April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 53 of 54
Anonymous
Not applicable

Re: Amex FR from multiple payments per month?


@NRB525 wrote:

They result in the same delay in releasing the credit line for further use. No advantage to either (other than you know up front that you have a timing delay when you push the payment from your checking account).


Basically that's the perfect reasoning for me. I distribute all my payments every Sunday and know for a fact they're cleared on the CC accounts on Tuesday night.

Message 54 of 54
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