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Frequent Contributor
Posts: 422
Registered: ‎04-26-2012
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Re: Amex Reward Dollars

To report on my test:

 

I had $75 total due for the last month, all of which came from the annual fee. I selected to take $75 statement credit from my available Reward Dollars cashback account. It was applied today to my BCP account. The minimum payment is now updated to be showing zero. The account balance now says zero. So the statement credit did apply to the minimum payment and the fees.

PenFed Platinum Cash Rewards (19.5k), American Express Blue Cash Preferred (18k), Chase Sapphire Preferred (14k), Discover More (10k), Macy's (700).
Valued Contributor
Posts: 1,575
Registered: ‎09-15-2012
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Re: Amex Reward Dollars

[ Edited ]
Very good to know! That is different than some of my other cards, sorry for any misinformation!

Thanks for testing, and thanks to CreditAddict for pointing it out!

In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Established Contributor
Posts: 923
Registered: ‎03-23-2012
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Re: Amex Reward Dollars

I think Mailak's situation is different. The cashback totaled the statement balance. Once applied, there was no balance to post any payment against... Which would make the minimum payment $0.

From what I understand, if you have a payment due, the payment goes against the previous statement balance. If you apply a credit, that credit posts against the current balance (previous month statement + current charges). As long as there is still a balance after the statement credit posts (and it's more than the payment amount), the payment is still due.

It's just like any other credit that's applied (credit for AF, returned merchandise after statement cut)...it doesn't go against payment unless the credit reduces the balance below the payment due.

Amex may be different (I haven't used my rewards dollars yet), but my other cards work in this manner.
Capital One QuickSilver 5K - AmEx Green NPSL - Amex Hilton HHonors Surpass 7K - Amex BCP 16K - Chase Freedom 4.5K - Discover IT 7.5K - LOC 2.5K
Established Contributor
Posts: 923
Registered: ‎03-23-2012
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Re: Amex Reward Dollars

FYI...This is the Amex statement regarding statement credits that's on my account...

"Pay yourself back by redeeming rewards dollars for credit on your NEXT statement."
Capital One QuickSilver 5K - AmEx Green NPSL - Amex Hilton HHonors Surpass 7K - Amex BCP 16K - Chase Freedom 4.5K - Discover IT 7.5K - LOC 2.5K

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