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Established Contributor
n777ua
Posts: 566
Registered: ‎05-29-2011

Amex Select & Pay Later APR

Does the Select & Pay Later APR vary or is it set at ~18% for everyone ? My APR on my other two Amex accounts are 10% and 16%, so I was hoping I could get the APR on the charge card feature lowered, if anyone has experience with this.  I guess I'm just wanting to know what others APR's are for this feature before I poke the beast.

Amex Green NPSL, Amex BCE $19.7k, Amex HH Surpass $11.3k, Amex Business Gold NPSL, Chase Ink Bold $15k (flex)Chase Sapphire Preffered $26k, Citi Diamond $13.3k, Citi TY Preferred $10.5k, Virgin Atlantic Amex $8k, Discover Motiva $10k, Boa World Elite $10k, US Bank Visa $4.1k, GE Amazon $4k, GE Lowes $6k, BillMeLater $4.4k, Target $.2k, CapOne $2k Von Maur NPSL,
Frequent Contributor
pdog661
Posts: 377
Registered: ‎03-31-2012

Re: Amex Select & Pay Later APR

Hi.  I have never used my amex charge's pay over time feature so take this with a grain of salt.

 

If you have AMEX revolvers use them first.  They are much more flexable. 

Valued Contributor
scottwagnon
Posts: 1,333
Registered: ‎02-07-2010

Re: Amex Select & Pay Later APR

i registered my pr gold ONLY for extended payment option and NOT select and pay later to receive the 5k point bonus and to experiment with it, thus fullfilling my curiosity ever since i was young, if it would ever be possible to revolve a balance on a gold. revolved the balance for a month, payed in full, redeemed points via hhonors exchange and then closed my gold card. now i can always say i had a gold card at one time.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Senior Contributor
Ron1
Posts: 4,746
Registered: ‎05-23-2009

Re: Amex Select & Pay Later APR

No, it is only to the select group of cardmembers. I never used it.  I have it on both of my Green and PR Gold.  18% is not a good rate to carry balance. Use credit union credit card is much lower than that.

 

 

Ron.

Established Contributor
n777ua
Posts: 566
Registered: ‎05-29-2011

Re: Amex Select & Pay Later APR

I use select & pay later on large purchases I want the MR points for, I'd say I use it maybe once or twice a year. I last used it when I bought a MacBook Pro and my account was still a plat, and I got 6x points (I think) for the purchase, then paid for it over 3 months.

 

The only thing to watch for is, in the fine print, when you move a charge over, interest starts accruing -immediately-, so if you do plan to use it, don't move your charge over until the day before your statement cuts.

Amex Green NPSL, Amex BCE $19.7k, Amex HH Surpass $11.3k, Amex Business Gold NPSL, Chase Ink Bold $15k (flex)Chase Sapphire Preffered $26k, Citi Diamond $13.3k, Citi TY Preferred $10.5k, Virgin Atlantic Amex $8k, Discover Motiva $10k, Boa World Elite $10k, US Bank Visa $4.1k, GE Amazon $4k, GE Lowes $6k, BillMeLater $4.4k, Target $.2k, CapOne $2k Von Maur NPSL,

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