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Pay Over Time--AMEX Platinum

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MrShush
Valued Contributor

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.

Message 1 of 13
12 REPLIES 12
Repo-ed
Senior Contributor

Re: Pay Over Time--AMEX Platinum

Damn

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 2 of 13
shakalaka
Established Contributor

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



FICO (TU/EX/EQ): 773/766/778 - Total CL 255+K
Message 3 of 13
MrShush
Valued Contributor

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.

 

Message 4 of 13
improvingmycredit
Valued Contributor

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
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 5 of 13
MrShush
Valued Contributor

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.

 

Message 6 of 13
Cadillac-XTS
Established Contributor

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.

Message 7 of 13
iCoop
Regular Contributor

Re: Pay Over Time--AMEX Platinum

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



Starting Score: EQ 675 | TU 688 | EX 702
Current Score: EQ 795 | TU 788 | EX 770
Goal Score: 750 (Across All 3)


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Message 8 of 13
Cadillac-XTS
Established Contributor

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.

Message 9 of 13
CribDuchess
Established Contributor

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.

 

 

FICOs: TU08 842 EQ08 850 EX08 850

My Wallet: Amex Gold NPSL; Amex Optima Platinum $25K; Amex BCE $12K; Apple Card $20K; BofA Travel Rewards Visa Sig $67.6K; Cap1 Quicksilver Visa Sig $10K; CSP $28.2K; Chase Freedom $13K; Chase Freedom Unlimited $21.4K; Citi Costco Visa $19.3K; Citi Double Cash $13.5K; Citi Simplicity Visa $23.3K; Discover IT $50K; Fidelity Visa $25K; NFCU Flagship Visa Sig $40K; NFCU More Rewards Amex $30K; PenFed Plat Rewards Visa Sig $50K; Sears MC $10.1K; US Bank Altitude Go Visa Sig $20K; US Bank Cash+ Visa Sig $26K; Wells Fargo Rewards Visa Sig $14K
Message 10 of 13
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