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Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
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Pay Over Time--AMEX Platinum

Just an observation; I was perusing my October statement and there was a section about pay over time terms and it says my limit was $35,000. Sort of like WOW.

Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: Pay Over Time--AMEX Platinum

Damn

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Established Contributor
shakalaka
Posts: 567
Registered: ‎09-10-2012
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Re: Pay Over Time--AMEX Platinum

It is sort of the standard limit AFAIK

 

And pay over time needs to be activated, you do not have it automatically


Amex Platinum (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (24,800) | Discover IT (12,700) | Chase Freedom (6,300) | Walmart (4,500) | CapOne (4.000) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO: TU 758 (10/12) EQ 724 (10/22) EX 748 (12/5)

Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

Re: Pay Over Time--AMEX Platinum


shakalaka wrote:

It is sort of the standard limit AFAIK

 

And pay over time needs to be activated, you do not have it automatically


I wasn't aware of a limit especially a universal one. Just a section I noticed and thought it was interesting. I'm pretty sure mine is/was activated though.

 

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Valued Contributor
improvingmycredit
Posts: 1,402
Registered: ‎07-12-2011
0

Re: Pay Over Time--AMEX Platinum


MrShush wrote:

shakalaka wrote:

It is sort of the standard limit AFAIK

 

And pay over time needs to be activated, you do not have it automatically


I wasn't aware of a limit especially a universal one. Just a section I noticed and thought it was interesting. I'm pretty sure mine is/was activated though.

 


Hey MrShush!

I think that the 35K limit is standard unless approved at activation/invite it states differently.  My limits are 35K on both my charge cards with Amex.  My brother's was activated with 18K.  Not everyone is offered this "perk" and it's based on internal score and ability to pay.  


Starting Score: 642
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Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

Re: Pay Over Time--AMEX Platinum


improvingmycredit wrote:

MrShush wrote:

shakalaka wrote:

It is sort of the standard limit AFAIK

 

And pay over time needs to be activated, you do not have it automatically


I wasn't aware of a limit especially a universal one. Just a section I noticed and thought it was interesting. I'm pretty sure mine is/was activated though.

 


Hey MrShush!

I think that the 35K limit is standard unless approved at activation/invite it states differently.  My limits are 35K on both my charge cards with Amex.  My brother's was activated with 18K.  Not everyone is offered this "perk" and it's based on internal score and ability to pay.  


Roger! That makes sense. Base upon internal criteria if fluctuates--like everything else with them.

 

Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: Pay Over Time--AMEX Platinum

Mine is 35k as well and is only applied to purchases $100.00 or more. Im thinking about using the pay over time feature real soon.

Regular Contributor
iCoop
Posts: 180
Registered: ‎05-06-2012
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Re: Pay Over Time--AMEX Platinum

What's the typical interest rate for pay over time with a charge card?



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Current Score: EQ 734 | TU 738 | EX 719
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Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: Pay Over Time--AMEX Platinum

Very good question. I believe its 18% on mine but may be wrong. I personally dont have a concern about the interest considering it will only be spreaded out 1-3 months at most.

Established Contributor
CribDuchess
Posts: 659
Registered: ‎09-12-2011
0

Re: Pay Over Time--AMEX Platinum

Awhile back there was a MR bonus of 5,000 points if you activated the Pay Over Time feature.  I did so and got the 5,000 bonus points.  But I believe there have been offers of 10,000 bonus points as well.  My APR for pay over time is 15.24%. I have only used this feature once (back when it was called Sign & Travel) to purchase some last minute airline tickets.

 

 

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