Amex Payment Quirk

Anonymous · ‎02-07-2008

Not sure if this has been discussed before. I've been able to make multiple payments in one month no problem, but hit a snag last night.

I added a second bank account to my Amex profile, intending to pay my balance (before statement cut). Surprise. Can't pay with the new bank account until the statement cuts & can only pay from the newly added account once within 30 days.

This is the same quirk that everyone experiences when first getting an Amex CC, having to wait till statement cut before being able to pay. Seems to be an Amex policy regarding new bank/payment methods. Odd.

Anonymous · ‎02-07-2008

I don't know if that's a "quirk" so much as it's lenders hoping you'll spend more than you're willing/able to PIF by allowing you to pay throught their system only once a month; then again maybe that's just me being cynical. Amex is not my only creditor who does that so the practice probably isn't that uncommon.

Having said that, I pay nearly all my bills through online banking which "forces" my creditors to take payments as often as I want to make them. I haven't had any problems thus far. {knocking on wood}

MidnightVoice · ‎02-07-2008

lurknomore wrote:

Having said that, I pay nearly all my bills through online banking which "forces" my creditors to take payments as often as I want to make them. I haven't had any problems thus far. {knocking on wood}

Ditto

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎02-07-2008

I understand Anderson.

I always wait for the first statement to arrive on any new card I get, to make double for positive sure, that when I set up the address in my online banking file maintenance that everything is correct, without question, for that particular card. But that's just me.

Anonymous · ‎02-07-2008

To clarify-

I meant to say I could only pay once during the FIRST 30 days with the newly added bank account.

haulingthescoreup · ‎02-07-2008

I once tried adding a second account to my Sears/ Citi account. No go. It will only take one at a time, and I would have had to delete the existing one, and probably wait the insane 4-6 weeks for it to lurch back to life, too.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

MidnightVoice · ‎02-07-2008

Sylviatob wrote:
I always wait for the first statement to arrive on any new card I get, to make double for positive sure, that when I set up the address in my online banking file maintenance that everything is correct, without question, for that particular card. But that's just me.

I always wait for the first statement and send the minimum via snail mail and PIF the rest via my on-line banking. Then I see how fast what gets where!

The only time I let the CCC get at my account is Amex - I have arranged for them to extract the minimum from my account as a safelty measure - I am treading very carefully with Amex

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎02-07-2008

A good plan M.V.

Anonymous · ‎02-07-2008

Thank goodness for the CONFIRM screen. Last night after I added the 2nd bank info I went ahead to pay my balance, but I used the default bank (the original one). There aren't enough funds in that account to cover the payment! it wasn't till the CONFIRM screen appeared that I realized I had used the wrong account. So I quickly hit CANCEL, then tried the newly added bank and wasn't able to access that source. Oh well.