Reply
Established Contributor
Uncle_Money
Posts: 530
Registered: ‎07-28-2008
0

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
fusioncredit
Posts: 614
Registered: ‎10-23-2011
0

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
Current Score: EQ 702 10/24/11, TU 689, EX 685
Goal Score: 750+

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)
Take the FICO Fitness Challenge

Frequent Contributor
CreditMuppet
Posts: 309
Registered: ‎08-05-2011
0

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)
Goal Score: 800
Take the FICO Fitness Challenge
Super Contributor
concorduser
Posts: 6,026
Registered: ‎09-18-2007
0

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
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

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


Take the FICO Fitness Challenge
Regular Contributor
Iincognito
Posts: 181
Registered: ‎04-21-2010
0

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)
Frequent Contributor
CreditMuppet
Posts: 309
Registered: ‎08-05-2011
0

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
Take the FICO Fitness Challenge
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

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


Take the FICO Fitness Challenge
Frequent Contributor
CreditMuppet
Posts: 309
Registered: ‎08-05-2011
0

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

Auto Enhanced: 788 (EX)
Goal Score: 800
Take the FICO Fitness Challenge
Regular Contributor
networkguy
Posts: 217
Registered: ‎04-17-2007
0

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.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}