topic Amex charge card 30 days to pay ? in Credit Cards

Amex charge card 30 days to pay ?

Andy77 — Sun, 07 Aug 2016 00:06:42 GMT

I am new to Amex Platinum and I assume if they get your payment before the next statement posts you are a-ok ?

Meaning if my statement cuts on August 18th and I pay my bill on Sept 5th , I am good

I read that the please pay by date is the date they want you to mail a paper check , not when they want to receive the payment

So I wanna pay my bill on sept 8th
Is that an issue ?

Re: Amex charge card 30 days to pay ?

Peteyglad — Sun, 07 Aug 2016 00:45:14 GMT

No issue, you are good.

Re: Amex charge card 30 days to pay ?

Andy77 — Sun, 07 Aug 2016 00:48:00 GMT

Thank you for the reply ..

So I am assuming we do have 30 days to really pay ?
(Must receive and post payment before next statement closing date)

Re: Amex charge card 30 days to pay ?

sunkissed — Sun, 07 Aug 2016 00:58:15 GMT

Correct!

Re: Amex charge card 30 days to pay ?

Ghoshida — Thu, 11 Aug 2016 07:07:46 GMT

AMEX statement generation dates are not fixed in a month. I wouldn't delay payment beyond 25 days.

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 08:30:34 GMT

@Andy77 wrote:
I am new to Amex Platinum and I assume if they get your payment before the next statement posts you are a-ok ?

Meaning if my statement cuts on August 18th and I pay my bill on Sept 5th , I am good

I read that the please pay by date is the date they want you to mail a paper check , not when they want to receive the payment

So I wanna pay my bill on sept 8th
Is that an issue ?

The "Please Pay By" date is 14 days from the statement closing date. Now, you can pay as late as a couple of days before September's statement end date, but I wouldn't advise you waiting that late. The 5th is good.

Also, The Please Pay By date is the date in which they expect to get receive the payment if you snail-mail it. Pay online.

Always remember, as a general rule of thumb AMEX Charge Cards are payable in full upon statement cut date. The "PPB" and "before the next statement cuts" are loopholes people use to stretch out time needed before they're down to the wire on paying for a card they might not ought to have.

All that said, congrats to getting that "high fallutin' card"!!!

Re: Amex charge card 30 days to pay ?

NRB525 — Thu, 11 Aug 2016 12:52:46 GMT

@Andy77 wrote:
I am new to Amex Platinum and I assume if they get your payment before the next statement posts you are a-ok ?

Meaning if my statement cuts on August 18th and I pay my bill on Sept 5th , I am good

I read that the please pay by date is the date they want you to mail a paper check , not when they want to receive the payment

So I wanna pay my bill on sept 8th
Is that an issue ?

Congratulations on the new charge card.

I would suggest you pay on-line so that the payment arrives on the "Please Pay By Date". This is a charge card, you should be able to pay anything that goes on the card. Since you are just starting out with the AMEX relationship, starting with early full payments is not a bad idea. That builds up your track record of paying on time, so that at some future month a year or 18 months from now if there is any hiccup in your payment timing, they don't worry too much about it.

Re: Amex charge card 30 days to pay ?

takeshi74 — Thu, 11 Aug 2016 13:00:08 GMT

@Andy77 wrote:
I am new to Amex Platinum and I assume if they get your payment before the next statement posts you are a-ok ?

Yup -- you're fine as long as your payment makes it before the last payment date listed when you go to schedule the payment which will actually be a few days prior to the next cycle end. For example, my wife's Platinum's closing date is usually the 12th. Please Pay By Date is the 26th. We pay on the 6th.

@NRB525 wrote:
I would suggest you pay on-line so that the payment arrives on the "Please Pay By Date". This is a charge card, you should be able to pay anything that goes on the card. Since you are just starting out with the AMEX relationship, starting with early full payments is not a bad idea. That builds up your track record of paying on time, so that at some future month a year or 18 months from now if there is any hiccup in your payment timing, they don't worry too much about it.

On time is on time and early isn't necessary. I'd also advise paying by the Please Pay By Date to be safe but is there any hard evidence that the payment timing makes any differerence?

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 17:44:18 GMT

For my charge card, I pay in full upon receiving my statement. So a day or so after the statement cuts I usually pay it right away. I only do this for my charge card as all my other credit cards I take advantage of the grace period and pay closer to the due date. Also, I changed my charge card statement cut date to the end of the month, so every month it falls near the end. Then I pay it off a day after it cuts and it resets me right on time for the start of the new month, I like it like that cause psychologically it feels organized, I start a new month $0 and I run it up throughout until the end of the month, pay it off right away once statement cuts. Repeat. For me its more fluid like that for a charge card instead of having a statement cut scrambled in the middle of the month etc.

i pay pay it off right away instead of waiting it till the please pay by or 30 days. It's a pay in full card and I'm careful with my budget so personally for my preference I don't need to wait to pay.

hope this helps

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 19:56:09 GMT

@Andy77 wrote:
Thank you for the reply ..

So I am assuming we do have 30 days to really pay ?
(Must receive and post payment before next statement closing date)

Yes, i was told by an Amex rep, on chat, and i asked them the same thing, because i had some large charges on my prg past couple months, and she said they would like to pay by the due date, but she said technically we are good until a day before the next statement cuts off. The payments will post by he date it is made, so if you pay on the 5th, and it reflects to your account on the 7th, your payment date will still be the 5th, as long as it is within their cut off time during the day.

Re: Amex charge card 30 days to pay ?

kdm31091 — Thu, 11 Aug 2016 20:46:17 GMT

Don't overthink it. Pay the bill before the due date. I don't think there's any evidence that early payments really give you any advantage.

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 21:34:48 GMT

In all fairness, I've noticed that statements aren't reported regularly if there's no balance to report. It may make you look good with that particular creditor, but to other creditors, the reporting gaps mean other things. Leave something ($10) on all your accounts, just so they stay regular with reporting.

Got credit cards? Use. All. Of. Them.

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 21:51:26 GMT

@Anonymous wrote:
In all fairness, I've noticed that statements aren't reported regularly if there's no balance to report. It may make you look good with that particular creditor, but to other creditors, the reporting gaps mean other things. Leave something ($10) on all your accounts, just so they stay regular with reporting.

Got credit cards? Use. All. Of. Them.

That's true, but at the same time, most creditors will report the gap along with the current statement info when you use the account andleave a balance to generate a statement. I do this with comenity a lot. Several accounts and CLI's, so i purchase a $5.00 item every few months on each account, and the account status is updated not only for the current month, but also for the past months with no data to report. Comenity said they do it up to 2 years. I know most credit card companies will update your account every month. It is usually the charge cards and the store cards that you have to have a statement activity for it report.

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 23:20:49 GMT

@Anonymous wrote:
In all fairness, I've noticed that statements aren't reported regularly if there's no balance to report. It may make you look good with that particular creditor, but to other creditors, the reporting gaps mean other things. Leave something ($10) on all your accounts, just so they stay regular with reporting.

Got credit cards? Use. All. Of. Them.

Are you saying leave 10.00 reporting on all your accounts?

All but certain my fico scores would drop for "too many accounts with balances"

From watching month after month of ficos, my scores are maximized by reporting only one balance and a very small one at that. Mine atleast.

Comenity in my limited experience has been the only issuer that would regularly not report when there has been no activity and continue to not report untlil activity again. Glad I no longer have a comenity account.

Macy's was sketchy so I just closed them at the two year mark. While there are missing months, this closure and those missing months seem to have had no adverse impact.

Thinking my plan will be to continue to pay my new AMEX Prg PRIOR to statement close in full (leaving no balance). Next closing date is the 18th and the new account has not yet reported.

I could only hope that if there is no balance to report, they dont report at all. Then maybe my AOAA wont be impacted as much for a new account if it ever does report...

Re: Amex charge card 30 days to pay ?

KSK1912 — Thu, 11 Aug 2016 23:32:54 GMT

@Anonymous wrote:
@Anonymous wrote:
In all fairness, I've noticed that statements aren't reported regularly if there's no balance to report. It may make you look good with that particular creditor, but to other creditors, the reporting gaps mean other things. Leave something ($10) on all your accounts, just so they stay regular with reporting.

Got credit cards? Use. All. Of. Them.
Are you saying leave 10.00 reporting on all your accounts?
All but certain my fico scores would drop for "too many accounts with balances"
From watching month after month of ficos, my scores are maximized by reporting only one balance and a very small one at that. Mine atleast.

Comenity in my limited experience has been the only issuer that would regularly not report when there has been no activity and continue to not report untlil activity again. Glad I no longer have a comenity account.

Macy's was sketchy so I just closed them at the two year mark. While there are missing months, this closure and those missing months seem to have had no adverse impact.

Thinking my plan will be to continue to pay my new AMEX Prg PRIOR to statement close in full (leaving no balance). Next closing date is the 18th and the new account has not yet reported.
I could only hope that if there is no balance to report, they dont report at all. Then maybe my AOAA wont be impacted as much for a new account if it ever does report...

Amex will always take at least couple months to start reporting a new account. However, your strategy is very smart. They may end up not reporting it if it keeps closing with a 0 balance. We need to try this However, i assume they still will report at least once because it is a new account.

Re: Amex charge card 30 days to pay ?

Anonymous — Thu, 11 Aug 2016 23:43:57 GMT

I'm about to find out for sure. The first statement on my PRG closes on the 19th and I'm going to PIF before the statement cuts, so I'll keep y'all posted.

Re: Amex charge card 30 days to pay ?

KSK1912 — Sat, 13 Aug 2016 18:37:37 GMT

@Anonymous wrote:
I'm about to find out for sure. The first statement on my PRG closes on the 19th and I'm going to PIF before the statement cuts, so I'll keep y'all posted.

Please keep us posted. That would be great find, as to keep it as an HTL by paying it off every month before statement.

Re: Amex charge card 30 days to pay ?

Anonymous — Sat, 20 Aug 2016 16:52:19 GMT

@KSK1912 wrote:
@Anonymous wrote:
I'm about to find out for sure. The first statement on my PRG closes on the 19th and I'm going to PIF before the statement cuts, so I'll keep y'all posted.
Please keep us posted. That would be great find, as to keep it as an HTL by paying it off every month before statement.

Well, I jacked that experiment up... Had it PIF, the 19th is the closing date, so I started using it again.. This thing took one charge, cleared it and the cut the statement with a $7.00 balance.... AAAARRRGGGHH!!!! Crap. So much for it being hopefully a hidden account...