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Regular Contributor
hateAshbury
Posts: 131
Registered: ‎11-14-2011
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easy question for AmEx charge card people

so I'm AU for AmEx Gold. I made a single purchase two weeks ago, and went online to see when the payment due date is. The web site says "Closing Date: May 14, 2012". Does that mean the statement cuts as of May 14, and I have some period of time after that to pay the charge? Or does it mean, "you better pay this off by May 14".

 

thanks


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Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011
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Re: easy question for AmEx charge card people

That means your statement cuts on May 14th. You will have approximately 14 days from the statement close to pay. This date is called the please pay by date. Some suggest that you have until your next statement cuts to pay however I never push those limits with AMEX.
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
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Creditaddict
Posts: 19,565
Registered: ‎10-23-2007
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Re: easy question for AmEx charge card people


laboi_22 wrote:
That means your statement cuts on May 14th. You will have approximately 14 days from the statement close to pay. This date is called the please pay by date. Some suggest that you have until your next statement cuts to pay however I never push those limits with AMEX.

Banks are required to give you 30 days.

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Frequent Contributor
OhioCPA
Posts: 459
Registered: ‎03-29-2011
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Re: easy question for AmEx charge card people

The "payment due date" on my Gold card was 14 days after the statement date. Once the extended payment option was added to my card the due date was changed to 25 days past the statement date. I assume this change in the due date is as a result of the card no longer being just a charge card.

 

My understanding is that as long as you pay by the next statement date you won't upset AMEX.

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Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011
0

Re: easy question for AmEx charge card people

Yes you are correct Your payment with AMEX will be fine if you pay before your next statement cuts (30 days). However AMEX has a suggested pay date or a please pay by date. This is 14 days after your statement closes. I always pay by that day. Paying after that date is fine with AMEX however it is generally understood and agreed upon that paying after the suggested pay by date will lower your internal paydex score and could possibly affect you internal hard limit.
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Frequent Contributor
OhioCPA
Posts: 459
Registered: ‎03-29-2011
0

Re: easy question for AmEx charge card people

My Gold card doesn't have a "please pay by date", it has a due date. For the statement that cut on April 15, the due date is May 10. My Green card does have a "please pay by" date that is April 30 for the statement that cut on April 15.

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