options for paying off AMEX?

[shasta]

I'm a travelling contractor and I've used my AMEX for hotel, gas and food expenses. I've never missed a payment and I've never been late.

This month, I haven't been paid yet by my employers and it looks like I won't be able to payoff my monthly debt at the due date. My total bill due for the AMEX is $3200.

I make enough monthly in per diem to cover that, but if this company doesn't pay me, I will probably have to find another job which is going to cause more problems. My other monthly expenses are covered, but I don't know how to approach the AMEX bill.

any ideas? I haven't been late on any bill in about 7 years. This is starting to worry me

[tiger_uppercut]

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@shasta wrote:

I'm a travelling contractor and I've used my AMEX for hotel, gas and food expenses. I've never missed a payment and I've never been late.

This month, I haven't been paid yet by my employers and it looks like I won't be able to payoff my monthly debt at the due date. My total bill due for the AMEX is $3200.

I make enough monthly in per diem to cover that, but if this company doesn't pay me, I will probably have to find another job which is going to cause more problems. My other monthly expenses are covered, but I don't know how to approach the AMEX bill.

any ideas? I haven't been late on any bill in about 7 years. This is starting to worry me

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I'd get a non-charge card right away and do a 0% APR balance transfer. You should have some type of credit card that you can use for expenses that doesn't need to be PIF every month for these kinds of emergencies. What are your scores?

[shasta]

684, TU & EX

[myscorerocks]

I agree, do a balance transfer and fast. I believe there's a 14 day wait before the balance transfers can be processed. Not sure if it's for all cards, but definitely Discover. I really like Discover. I can send you a link and we both get $50. DM me your email. They're offering no fee balance transfers. I would normally wait until you have a score over 700, but you can always recon. Or, go through the preapproval links to see what cards you can get 0% offers for. Remember that not all are real preapprovals. Good luck.

[redbeard]

I like the balance transfer option, but that isn't always practical.

Getting a Personal line of credit is another option.  Might be a bit faster.

Also, you might try a factoring company on your invoices to see if you can get paid now but they take a small cut off of the top.  This is probably similar to the fees of a balance transfer.  This may not work well if you are already nervous about being paid yourself.

And then there is simply picking up the phone and calling Amex.  They can help resolve this, but it probably would mean not being able to charge on it till it is paid.

Dan

[tiger_uppercut]

You've got a lot of options, then. And considering you won't need to carry this balance for too long, any 0% intro interest card should work. Do you have any credit cards besides your AMEX charge? What are you looking for in terms of rewards for one? Cash back or miles or points?

Capital One Quicksilver has 0% for some number of months, and 1.5% cash back on every purchase. Discover also, and I'd recomment them highly, they have great rewards.

Any baddies or anything on your profile?

[Anonymous]

Call American Express and talk to them directly. They have excellent customer service and I am sure they could help you with a payment schedule if you explained your situation.