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Help - Can't Pay AMEX PRG in Full This Month

Established Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month

You have received good advice for possible solutions.  Whatever you choose to do, please do it as soon as possible. In my experience, AMEX can be one of the harsher credit card companies, closing all cards if a payment gets bounced and things like that.  Good luck!

Established Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month


wasCB14 wrote:

Does PoT apply retroactively to include past purchases?


For me no it did not. I signed up for it and it took effect a month after my sign up date and did not (which it stated when signing up for it) include what I had already spent.

 

OP- give Amex a call or use the chat feature to see if they have any ideas, or BT to another card. Good luck!






Super Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month


WaveRider wrote:

Just curious, why didn't you put that charge on a different card man


From the original post "balances are too high" 

 

A charge card lets you get in real trouble short term if you are not careful with it. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727 FICO Simulator 2014: $20k balances = 812 FICO.
March 2017 $20k on $300k 6% util EQ 824 TU 824 EX 815

5 / 24 counting down to 1 Nov 2017... wait I guess it's 18 Dec 2017 to get 4/24
Valued Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month

Doesn't PoT have something like a 20% APR? Using it seems like an act of desperation...if Amex even allows it.

 

OP, what are your BT options on other cards?

Perks, purchase protection, and sketchy merchants: Schwab Platinum.....Price rewind and extended warranties: Costco.....Travel insurance: Prestige.....Renewal nights: IHG, Hyatt.....Rewards/Offers: Discover, Freedom, ED, BCE.....Taxes/Misc: SPG...Questioning the value of: CSP, Arrival

760ish FICOs...Rebucketing hurts!
Total CL: Enough
Valued Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month

I would consider this a time of desperation for OP. Either Pay over time or do a balance transfer to another card. The best case scenario here is paying interest/fees and avoiding any type of negative remarks on your credit score!
American Express PRG__American Express BCE__Chase Amazon__Chase United TravelBank


Established Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month

Get a revolver immediately.
BK Discharged 9/11

Cap1 Quiksilver Visa Signature $41k| Discover IT $16k| Barclays Commence World MasterCard $11.7k|Barclay Cash Forward $4.5k| BOA Cash Rewards $8.4k| BOA BBR $6k|AMEX BCE $6.6k| AMEX Schwab Investor Card $5k|AMEX BCP $9.8k| Huntington Voice $3.8k| Chase Amazon Prime Visa $1k
Valued Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month


wanderingbuilder wrote:
This is why i like having cards with cheap BT offers, and low interest lines of credit available for absolute emergency situations.

Same here...

Highlighted
Frequent Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month

Check your other cards and see if you have any balance transfer promos. Discover and my credit union cc usually have great deals. Do it asap as it takes a a couple business days to post as a payment to your card.

Community Leader
Valued Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month


wasCB14 wrote:

Doesn't PoT have something like a 20% APR? Using it seems like an act of desperation...if Amex even allows it.

 

OP, what are your BT options on other cards?


Mine has always been in the 14s/15s.  I added it onto both of my charge cards around 2004 and it has always been the same as my Blue, so I'm not sure if that has changed over the years or not.  I think most people do get 18.74% with the latest round of increases, though.  Even so, OP said he could pay half of the $2000 and the rest probably within 30 days, so even a full month of interest at 18.74% would only be $15.62 which is far better than AA from AmEx and a 30 day late strike that could potentially cause AA from other lenders.  OP, if you cannot pay then Pay Over Time would be your best bet. If that is not an option, BT (a standard 3% fee would cost you $30 to transfer $1000) to a non-AmEx card with a promo APR.  If all else fails, virtually any credit card you have (even some store cards, particularly Citi-issued) will allow you to transfer at either your purchase or cash advance APR, often without a fee (CapOne does this).  Last resorts would be open a new revolver with a 0% APR balance transfer offer (Citi Diamond Preferred, BankAmericard, etc...) immediately, or just call American Express up and explain that you will need more time and ask them what your options are to keep your account in good standing.  I have heard that sometimes they allow you to schedule a future ACH and that commitment from you will keep them from shutting you down or reporting you late.  Best of luck and keep us updated!


$500k+ club. | FICO 08 [Oct 2017]: EQ 746 EX 738 TU 733 | World's worst gardener.
Valued Contributor

Re: Help - Can't Pay AMEX PRG in Full This Month


Hannahj55 wrote:

Well here is an ideal. You can MS. Use that money to pay off $1000 and leave it on another card. You'll pay around $10 for 1% interest and the beautiful part, you can make monthly payments for 6-12 months. This is my favorite trick. If you're smart, you'll actually profit $30-40 bucks doing this by choosing the right card. Good luck. 


I've only seen MS to mean manufactured spending... what does it mean in this context?


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700