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Amex "Due on Receipt" ?

Established Contributor

Amex "Due on Receipt" ?

I was poking around my Amex accounts today and noticed a "*" by my "Please Pay By" date on my business gold.  When I clicked on it, I get "Payment is due upon receipt of your statement.  We suggest you pay by the please pay by date"  My personal green doesn't have this.  Is this new or something I've never noticed before ? 

About $215,000 total credit among 11 cards
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Valued Contributor

Re: Amex "Due on Receipt" ?

Standard T&C's of Amex's charge cards. Further, there are no late fees unless you don't pay before the next statement cuts (that's when it becomes late per the contract) and even then you are given a certain amount of slack if you don't do it too often.

 

It dates to when Amex was mostly used by busnessmen who were used to 30 days net. That is the bill is due and payable upon presentation but you have 30 days to pay.

 

The please pay by date is just that, a suggestion. It isn't part of any contract.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
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Frequent Contributor

Re: Amex "Due on Receipt" ?


cashnocredit wrote:

Standard T&C's of Amex's charge cards. Further, there are no late fees unless you don't pay before the next statement cuts (that's when it becomes late per the contract) and even then you are given a certain amount of slack if you don't do it too often.

 

It dates to when Amex was mostly used by busnessmen who were used to 30 days net. That is the bill is due and payable upon presentation but you have 30 days to pay.

 

The please pay by date is just that, a suggestion. It isn't part of any contract.


+1 Two Amex reps once explained it to me. It is just a suggestion but you have in fact 30 days after receipt of the statement. My statement cuts on November 1st so I have until December 1st to make a payment although Amex will automatically debit the amount 15 days after the statement cuts so November 16.

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