Credit Cards

[Kicker]

Hey everyone, I have a green card and when I look at my account it says: Please pay by July 18 - $230.98. The closing date is Jul 3rd. So do I have until August 3rd to pay the balance before it's considered late? 

Thanks a lot.

[OhioCPA]

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Kicker wrote:

Hey everyone, I have a green card and when I look at my account it says: Please pay by July 18 - $230.98. The closing date is Jul 3rd. So do I have until August 3rd to pay the balance before it's considered late? 

Thanks a lot.

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As I understand, the please pay by date is to ensure that Amex receives payment by the statement cutoff. So, yes you techinally have until August 3 to make your payment. That being said, I wouldn't make a habit out of paying after the "please pay by date" too often. Amex seems to look at credit accounts differently than other lenders and that could be one item they monitor.

[LS2982]

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OhioCPA wrote:

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Kicker wrote:

Hey everyone, I have a green card and when I look at my account it says: Please pay by July 18 - $230.98. The closing date is Jul 3rd. So do I have until August 3rd to pay the balance before it's considered late? 

Thanks a lot.

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As I understand, the please pay by date is to ensure that Amex receives payment by the statement cutoff. So, yes you techinally have until August 3 to make your payment. That being said, I wouldn't make a habit out of paying after the "please pay by date" too often. Amex seems to look at credit accounts differently than other lenders and that could be one item they monitor.

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I agree, try to make a pymt before or at the "please pay by" date.

[webhopper]

Try to make it before the please pay by. My please pay by date is usually like the 22nd or 23rd. I always try to pay before the statement cuts or no later than the 15th

[Repo-ed]

Mine is tomorrow, the 9th.  I paid it on Friday, the 6th. Posted to account yesterday, the 7th.

[Kicker]

thanks a lot everyone. Is there a reason why paying on or before the "please pay by" date is recommended?

[Open123]

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Kicker wrote:

thanks a lot everyone. Is there a reason why paying on or before the "please pay by" date is recommended?

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The "please pay by" date is mainy used as the last day to place your payment through the post to ensure it'll be received and processed by Amex by the due date.  For a charge, the official due date (when it's officially late) is always 30 days from your closing date.

[Kicker]

Thank you open123! I plan on paying online so I guess it shouldn't be too much of an issue for me atleast.

[pizzadude]

As long as you pay before your next statement cuts ( usually 30 days ) you will be fine. If you pay after that date you'll forfeit your MRE points for that statement. Late fees kick in at 45 days late.

[Watchmann]

Make it easy and foolproof and set up an autopay payment, that way you'll never have to remember to pay it.  Let AMEX do the work for you, it's a set and forget thing.  You do not want to fool around with forgetting and paying late to AMEX.