topic Pay Over Time for all Business Charge Cards in Business Credit

Pay Over Time for all Business Charge Cards

K-in-Boston — Sun, 13 Sep 2020 20:11:18 GMT

Just got around to opening the mail. Looks like Amex is adding POT to all Business charge cards (except Plum) effective with the November statement. I held off on adding it to mine in hopes of getting an MR bonus for doing so since I never got one on my personal cards (Amex added POT to them around 2005). Fingers crossed I get the same 14.24% as my personal cards in the hopefully unlikely event I ever need to use POT again.

Re: Pay Over Time for all Business Charge Cards

jaxstraw — Sun, 13 Sep 2020 20:24:15 GMT

So what's the point of having a charge card now ?

For AMEX would seem a profitable change due to the interest..

But for a consumer what benefits does a charge card have with POT over a revolving card ?

Revolvers have rewards for the most part........I'd consider that first if they are now are basically the same.

Re: Pay Over Time for all Business Charge Cards

K-in-Boston — Sun, 13 Sep 2020 20:39:10 GMT

NPSL and the buying power that can come with that. Amex can also remove the POT at any point and demand payment in full each month for new charges.

For Platinum and Centurion in particular, I am not aware of any business revolvers in the same league.

Re: Pay Over Time for all Business Charge Cards

Anonymous — Sun, 13 Sep 2020 22:19:34 GMT

That's nice to see as it makes the charges a little more managebale for us smller guys, and thefee isn't as high as the interest rates!

Honestly the best news from them would be adding Plan It to their BIZ revolvers, for me anyways.

Re: Pay Over Time for all Business Charge Cards

M_Smart007 — Mon, 14 Sep 2020 00:18:06 GMT

@K-in-Boston, Panasonic eneloop are great batteries.

Sorry for the OT .. could not resist

Re: Pay Over Time for all Business Charge Cards

Anonymous — Mon, 14 Sep 2020 19:58:33 GMT

Meh

I read somewhere you can opt out of this auto-enroll POT, just call in

Today, I turned off my POT on my Biz Gold:

Called number on card, asked to turn it off and the CSR denied me saying it's a built-in feature, and said the supervisor would say the same thing. ...

So I hung up and called again, new rep turns it off for me, and also puts my email/profile on a list to their marketing dept because I want an upgrade offer to Platinum.

Only offer I have from Amex is add employee cards, spend $2,000 on it and get 5K MR for each, up to 495K pts/99 cards. Pass.

Hope I get a MR offer to re-activate POT someday, just maybe..

Re: Pay Over Time for all Business Charge Cards

Creditaddict — Tue, 15 Sep 2020 00:38:54 GMT

@jaxstraw wrote:
So what's the point of having a charge card now ?
For AMEX would seem a profitable change due to the interest..
But for a consumer what benefits does a charge card have with POT over a revolving card ?
Revolvers have rewards for the most part........I'd consider that first if they are now are basically the same.

LIMIT!!! I have a Blue Cash in a business partner's name and that limit is $6k, I have 2 charge cards in the same person's name and POT is $35k on each charge card and I have had each over $50k in a month at same time!