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Established Contributor
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Registered: ‎07-28-2008
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Amex Pay Over Time Feature

Hey Guys,

 

I currently have 4 Amex accounts and run through over five figures in charges per month. I have a 4 year history with Amex, never been late and have a good credit history.

 

I recently discovered the "pay over time"  feature so I called up Amex to request it. This could come in handy for some of my really large purchases. They tell me I'm not eligible. Huh? I have friends who have this feature, yet, don't even charge a fraction of what I do each month or have the credit that I do.

 

Thoughts?

 

Uncle Money

 

 

Equifax Fico 785 as of 01/18/2012
Established Contributor
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Registered: ‎10-23-2011
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Re: Amex Pay Over Time Feature

To clarify are all of them charge cards?


Starting Score: EQ 686 10/18/11, TU 689 10/25/11, EX 685 10/11 (Amex Pull)....these are all FICO scores
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Score Update: EQ: 743 (02/03/12) TU: 741 (Walmart 01/11/12), now 761 as of 01/27/12 (Walmart), EX: 741 (Amex 01/04/12)
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Registered: ‎08-05-2011
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Re: Amex Pay Over Time Feature


fusioncredit wrote:

To clarify are all of them charge cards?


Wouldnt worry too much, those of us that do have the feature dont really see any qualifying purchases flagged for the feature anyways.  I just dont use AMEX to carry any kind of balance.


Starting Score: 770
Current Score: 765 (EX) 763 (EQ) 756 (TU)

Auto Enhanced: 788 (EX)
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Super Contributor
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Registered: ‎09-18-2007
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Re: Amex Pay Over Time Feature

Amex does not like to see balances on their cards. I would not keep any balance more than 3 months. Amex likes the pay in full accounts. Dont waste your time.

Senior Contributor
Posts: 3,067
Registered: ‎11-02-2009
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Re: Amex Pay Over Time Feature


CreditMuppet wrote:

fusioncredit wrote:

To clarify are all of them charge cards?


Wouldnt worry too much, those of us that do have the feature dont really see any qualifying purchases flagged for the feature anyways.  I just dont use AMEX to carry any kind of balance.


What do you mean?  I have it and I see tons of charges flagged for it.  When I get my bill, I have a total balance, and a minimum payment for all of my non-pay-over-time charges.  I have never used it to float any charges, but it does work on my account.  I have a PR Gold card. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Re: Amex Pay Over Time Feature

[ Edited ]

Walt_K wrote:

CreditMuppet wrote:
 Wouldnt worry too much, those of us that do have the feature dont really see any qualifying purchases flagged for the feature anyways.  I just dont use AMEX to carry any kind of balance.

What do you mean?  I have it and I see tons of charges flagged for it.  When I get my bill, I have a total balance, and a minimum payment for all of my non-pay-over-time charges.  I have never used it to float any charges, but it does work on my account.  I have a PR Gold card. 

 


I occasionally use this feature to float larger charges such as a down payment on a car (i.e. $3,000.00). I am able to float any qualifying charge over $100.00. I have not had any issues using this feature and have not been placed on any kind of financial review... (experiences may vary). 

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
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Re: Amex Pay Over Time Feature


Walt_K wrote:

CreditMuppet wrote:

fusioncredit wrote:

To clarify are all of them charge cards?


Wouldnt worry too much, those of us that do have the feature dont really see any qualifying purchases flagged for the feature anyways.  I just dont use AMEX to carry any kind of balance.


What do you mean?  I have it and I see tons of charges flagged for it.  When I get my bill, I have a total balance, and a minimum payment for all of my non-pay-over-time charges.  I have never used it to float any charges, but it does work on my account.  I have a PR Gold card. 


It was my understanding that they were supposed to denote a qualfied purchase with a purple triangle or something, unless I am missing something I do not see any purchases which are marked that way but I do see I have at least one purchase this month listed for pay over time in the pay over time summary screen.  I do have an AMEX revolver so its not really something I would use on the PRG but it seems I should be seeing more qualified purchases (over $100).


Starting Score: 770
Current Score: 765 (EX) 763 (EQ) 756 (TU)

Auto Enhanced: 788 (EX)
Goal Score: 800
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Senior Contributor
Posts: 3,067
Registered: ‎11-02-2009
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Re: Amex Pay Over Time Feature


CreditMuppet wrote:

Walt_K wrote:

CreditMuppet wrote:

fusioncredit wrote:

To clarify are all of them charge cards?


Wouldnt worry too much, those of us that do have the feature dont really see any qualifying purchases flagged for the feature anyways.  I just dont use AMEX to carry any kind of balance.


What do you mean?  I have it and I see tons of charges flagged for it.  When I get my bill, I have a total balance, and a minimum payment for all of my non-pay-over-time charges.  I have never used it to float any charges, but it does work on my account.  I have a PR Gold card. 


It was my understanding that they were supposed to denote a qualfied purchase with a purple triangle or something, unless I am missing something I do not see any purchases which are marked that way but I do see I have at least one purchase this month listed for pay over time in the pay over time summary screen.  I do have an AMEX revolver so its not really something I would use on the PRG but it seems I should be seeing more qualified purchases (over $100).


FYI, the diamond appears on your actual billing statement.  I don't see any marking on my online activity summary, it just shows a total of pay in full charges and pay over time charges at the bottom of the screen.  When I view my billing statement, there is a diamond next to pay over time charges.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Frequent Contributor
Posts: 309
Registered: ‎08-05-2011
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Re: Amex Pay Over Time Feature


Walt_K wrote:

CreditMuppet wrote:

Walt_K wrote:

CreditMuppet wrote:

fusioncredit wrote:

To clarify are all of them charge cards?


Wouldnt worry too much, those of us that do have the feature dont really see any qualifying purchases flagged for the feature anyways.  I just dont use AMEX to carry any kind of balance.


What do you mean?  I have it and I see tons of charges flagged for it.  When I get my bill, I have a total balance, and a minimum payment for all of my non-pay-over-time charges.  I have never used it to float any charges, but it does work on my account.  I have a PR Gold card. 


It was my understanding that they were supposed to denote a qualfied purchase with a purple triangle or something, unless I am missing something I do not see any purchases which are marked that way but I do see I have at least one purchase this month listed for pay over time in the pay over time summary screen.  I do have an AMEX revolver so its not really something I would use on the PRG but it seems I should be seeing more qualified purchases (over $100).


FYI, the diamond appears on your actual billing statement.  I don't see any marking on my online activity summary, it just shows a total of pay in full charges and pay over time charges at the bottom of the screen.  When I view my billing statement, there is a diamond next to pay over time charges.


Thanks Walt, I was looking in Recent activity / Statement expecting to see this, now I see its on the PDF invoice.  I also note there is a "Pay over Time" link on the menu bar which lists qualified purchases. 


Starting Score: 770
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Auto Enhanced: 788 (EX)
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Regular Contributor
Posts: 217
Registered: ‎04-17-2007
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Re: Amex Pay Over Time Feature


concorduser wrote:

Amex does not like to see balances on their cards. I would not keep any balance more than 3 months. Amex likes the pay in full accounts. Dont waste your time.



False. If this were true, the majority of their cards wouldnt be revolvers.

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