Re: Amex reports net-30 charge card bill?

taxi818 · ‎11-12-2014

@lhcole77 wrote:
@peaceonearth wrote:
American Express has no such Net-30.
You supposed to pay the bill as soon as you receive it or on the statment closing date..
Most AMEX charge cards are due within 15 days after statment but, American express charge Cards need to be paid Upon Receipt.
This is not accurate. Payment due date is 30 days after the end of the billing period.

There is a suggested "please pay by" date, but this is suggested only. This may be what you are referring to when you say "Most AMEX charge cards are due within 15 days after statment".

Honest guys this kind of thing is confusing. As i just got my first statement on the Amex Green. keep in mind. just had the card only 3 weeks now.

got statement monday. and only have to pay until the 23rd of november. wth. if like this. this puppy will always be at zero. if i use it. will just pay it the same day. no wasted effort. can't beleive i only have 15 days to pay from getting my statement. even says upon receipt. thats not gonna happen.

09Lexie · ‎11-12-2014

@taxi818 wrote:
@lhcole77 wrote:
@peaceonearth wrote:
American Express has no such Net-30.
You supposed to pay the bill as soon as you receive it or on the statment closing date..
Most AMEX charge cards are due within 15 days after statment but, American express charge Cards need to be paid Upon Receipt.
This is not accurate. Payment due date is 30 days after the end of the billing period.

There is a suggested "please pay by" date, but this is suggested only. This may be what you are referring to when you say "Most AMEX charge cards are due within 15 days after statment".
Honest guys this kind of thing is confusing. As i just got my first statement on the Amex Green. keep in mind. just had the card only 3 weeks now.
got statement monday. and only have to pay until the 23rd of november. wth. if like this. this puppy will always be at zero. if i use it. will just pay it the same day. no wasted effort. can't beleive i only have 15 days to pay from getting my statement. even says upon receipt. thats not gonna happen.

Don't stress over this. Just make your payments before your statement cuts. I sometimes pay by the 'due upon receipt' and sometimes a week before my statement cuts. I have had no adverse action to any of my accounts.

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taxi818 · ‎11-12-2014

@09Lexie wrote:
@taxi818 wrote:
@lhcole77 wrote:
@peaceonearth wrote:
American Express has no such Net-30.
You supposed to pay the bill as soon as you receive it or on the statment closing date..
Most AMEX charge cards are due within 15 days after statment but, American express charge Cards need to be paid Upon Receipt.
This is not accurate. Payment due date is 30 days after the end of the billing period.

There is a suggested "please pay by" date, but this is suggested only. This may be what you are referring to when you say "Most AMEX charge cards are due within 15 days after statment".
IVE Honest guys this kind of thing is confusing. As i just got my first statement on the Amex Green. keep in mind. just had the card only 3 weeks now.
got statement monday. and only have to pay until the 23rd of november. wth. if like this. this puppy will always be at zero. if i use it. will just pay it the same day. no wasted effort. can't beleive i only have 15 days to pay from getting my statement. even says upon receipt. thats not gonna happen.
Don't stress over this. Just make your payments before your statement cuts. I sometimes pay by the 'due upon receipt' and sometimes a week before my statement cuts. I have had no adverse action to any of my accounts.

ive heard this before. will that affect some kind of internal score with amex?? i will pay it. but im not happy if this is the world of charge cards. i always thought i would have a month to pay after the statement cut. im too chicken to risk AA.

09Lexie · ‎11-12-2014

@taxi818 wrote:
@09Lexie wrote:
@taxi818 wrote:
@lhcole77 wrote:
@peaceonearth wrote:
American Express has no such Net-30.
You supposed to pay the bill as soon as you receive it or on the statment closing date..
Most AMEX charge cards are due within 15 days after statment but, American express charge Cards need to be paid Upon Receipt.
This is not accurate. Payment due date is 30 days after the end of the billing period.

There is a suggested "please pay by" date, but this is suggested only. This may be what you are referring to when you say "Most AMEX charge cards are due within 15 days after statment".
IVE Honest guys this kind of thing is confusing. As i just got my first statement on the Amex Green. keep in mind. just had the card only 3 weeks now.
got statement monday. and only have to pay until the 23rd of november. wth. if like this. this puppy will always be at zero. if i use it. will just pay it the same day. no wasted effort. can't beleive i only have 15 days to pay from getting my statement. even says upon receipt. thats not gonna happen.
Don't stress over this. Just make your payments before your statement cuts. I sometimes pay by the 'due upon receipt' and sometimes a week before my statement cuts. I have had no adverse action to any of my accounts.
ive heard this before. will that affect some kind of internal score with amex?? i will pay it. but im not happy if this is the world of charge cards. i always thought i would have a month to pay after the statement cut. im too chicken to risk AA.

If this is your first statement, your billing cycle may be short. As far as their internal scoring isn't concerned, it hasn't affected me. If you decide to use their auto pay feature, you'll see that they will allow draft dates beyond their 'pay by date'. I recall asking them about the option of selecting the latter date and was assured that it would not harm me in anyway.

Closing Credit Cards

The Definitive Amex 3X CLI Guide

Frequently Requested Threads

lhcole77 · ‎11-13-2014

@peaceonearth wrote:
@lhcole77 wrote:
@peaceonearth wrote:
American Express has no such Net-30.
You supposed to pay the bill as soon as you receive it or on the statment closing date..
Most AMEX charge cards are due within 15 days after statment but, American express charge Cards need to be paid Upon Receipt.
This is not accurate. Payment due date is 30 days after the end of the billing period.

There is a suggested "please pay by" date, but this is suggested only. This may be what you are referring to when you say "Most AMEX charge cards are due within 15 days after statment".
One more time, All American Express Charge Cards are: “DUE UPON RECEIPT”
Let's say, your statement closing date is on 11/12/2014 American Express Suggests that you pay by 11/27/2014 that gives you 15 days.
You can still pay by 12/11/2014 almost 30 days time to pay, if that's what you want but; what AMEX wants is “DUE UPON RECEIPT”.

I humbly disagree with you.

This is based on my experience with AMEX, my CL and CLI with them and my multiple conversations with their Customer Service Team.

You are now chatting with Kash.

Kash: Hi, welcome to American Express Chat. My name is Kash. How can I help you today?

you: Can you please answer a question for me?

Kash: Sure, please go ahead.

you: When is the actual due date on a statement for an American Express charge card? Are they due upon receipt?

Kash: On charge card you get 30 days to pay your bill.

you: So they are not due upon receipt of statement?

Kash: After statement closing date you will get the grace period of 30 days to pay your balance, that date we call a payment due date.

Kash: Lets say if the statement closed on Nov 1 then you will get 30 days from Nov 1st to pay the statement balance,.

you: Does American Express prefer its members to pay upon receipt of the statement? Or is using the grace period acceptable?

Kash: well you need to pay the statement balance before the 30 days in charge card to avoid any additional fee or late fee.

you: Excellent! Thank you so much, Kash.

peaceonearth · ‎11-13-2014

@lhcole77 wrote:
@peaceonearth wrote:
@lhcole77 wrote:
@peaceonearth wrote:
American Express has no such Net-30.
You supposed to pay the bill as soon as you receive it or on the statment closing date..
Most AMEX charge cards are due within 15 days after statment but, American express charge Cards need to be paid Upon Receipt.
This is not accurate. Payment due date is 30 days after the end of the billing period.

There is a suggested "please pay by" date, but this is suggested only. This may be what you are referring to when you say "Most AMEX charge cards are due within 15 days after statment".
One more time, All American Express Charge Cards are: “DUE UPON RECEIPT”
Let's say, your statement closing date is on 11/12/2014 American Express Suggests that you pay by 11/27/2014 that gives you 15 days.
You can still pay by 12/11/2014 almost 30 days time to pay, if that's what you want but; what AMEX wants is “DUE UPON RECEIPT”.

I humbly disagree with you.

This is based on my experience with AMEX, my CL and CLI with them and my multiple conversations with their Customer Service Team.

You are now chatting with Kash.
Kash: Hi, welcome to American Express Chat. My name is Kash. How can I help you today?
you: Can you please answer a question for me?
Kash: Sure, please go ahead.
you: When is the actual due date on a statement for an American Express charge card? Are they due upon receipt?
Kash: On charge card you get 30 days to pay your bill.
you: So they are not due upon receipt of statement?
Kash: After statement closing date you will get the grace period of 30 days to pay your balance, that date we call a payment due date.
Kash: Lets say if the statement closed on Nov 1 then you will get 30 days from Nov 1st to pay the statement balance,.
you: Does American Express prefer its members to pay upon receipt of the statement? Or is using the grace period acceptable?
Kash: well you need to pay the statement balance before the 30 days in charge card to avoid any additional fee or late fee.
you: Excellent! Thank you so much, Kash.

You disagree and I do respect your opinion.

The following was copied from American Express Cardmember Agreement:

******

When you must pay

Payment of the New Balance is due upon receipt of

your statement. If a statement includes a Pay Over

Time balance, it will show a Minimum Payment Due.

In this case, you must pay at least the Minimum

Payment Due by the Payment Due Date. Each

statement also states the time and manner by which

you must make your payment for it to be credited as

of the same day it is received.

******

I kind of do this for fun, I am not trying to approve that you are wrong in lieu, I just want to help other people, express my knowledge and experience; and have more inputs from other MF members.

lhcole77 · ‎11-13-2014

@peaceonearth wrote:
You disagree and I do respect your opinion.

The following was copied from American Express Cardmember Agreement:

******
When you must pay
Payment of the New Balance is due upon receipt of
your statement. If a statement includes a Pay Over
Time balance, it will show a Minimum Payment Due.
In this case, you must pay at least the Minimum
Payment Due by the Payment Due Date. Each
statement also states the time and manner by which
you must make your payment for it to be credited as
of the same day it is received.
******

I kind of do this for fun, I am not trying to approve that you are wrong in lieu, I just want to help other people, express my knowledge and experience; and have more inputs from other MF members.

This is good information. I think we do a disservice to Forum members if we don't explain to them that an AMEX member actually has 30 days to pay the statement balance. When I had my PRG I either paid immediately, by pay by date or a day or two before the next statement cut and I never had any adverse action or repercussions from AMEX for doing so.

peaceonearth · ‎11-13-2014

@lhcole77 wrote:
@peaceonearth wrote:
You disagree and I do respect your opinion.

The following was copied from American Express Cardmember Agreement:

******
When you must pay
Payment of the New Balance is due upon receipt of
your statement. If a statement includes a Pay Over
Time balance, it will show a Minimum Payment Due.
In this case, you must pay at least the Minimum
Payment Due by the Payment Due Date. Each
statement also states the time and manner by which
you must make your payment for it to be credited as
of the same day it is received.
******

I kind of do this for fun, I am not trying to approve that you are wrong in lieu, I just want to help other people, express my knowledge and experience; and have more inputs from other MF members.

This is good information. I think we do a disservice to Forum members if we don't explain to them that an AMEX member actually has 30 days to pay the statement balance. When I had my PRG I either paid immediately, by pay by date or a day or two before the next statement cut and I never had any adverse action or repercussions from AMEX for doing so.

This may look similar to AMEX revolving accounts.

American Express promotes credit cards, which you can make a minimum payment but; at the same time AMEX does not like it when a cardholder carries a balance for a period of time.

Anonymous · ‎11-14-2014

This is the original thread starter returning. It's straying from discussion of credit scoring but I have a question about the same AmEx Gold rewards card that was the root of the thread. The card is new. I was attracted to the points, which are doubled for groceries and gasoline. So in the first month I used it all the time for groceries and gas, and ran up a $500 balance. Yes, I did set the money aside and I paid it on time, but it was a little nerve wracking. The peace of mind way to do it of course is used-and-pay, use-and pay, right away in a day or two. But will I miss out on reward points doing so?

peaceonearth · ‎11-14-2014

@Anonymous wrote:
This is the original thread starter returning. It's straying from discussion of credit scoring but I have a question about the same AmEx Gold rewards card that was the root of the thread. The card is new. I was attracted to the points, which are doubled for groceries and gasoline. So in the first month I used it all the time for groceries and gas, and ran up a $500 balance. Yes, I did set the money aside and I paid it on time, but it was a little nerve wracking. The peace of mind way to do it of course is used-and-pay, use-and pay, right away in a day or two. But will I miss out on reward points doing so?

No.

Amex reports net-30 charge card bill?

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