topic Re: Help - Can't Pay AMEX PRG in Full This Month in Credit Cards

Help - Can't Pay AMEX PRG in Full This Month

joeyoey — Mon, 20 Mar 2017 06:29:41 GMT

I'm hoping someone can help me out here.

I've finally (finally!) got a clear report...nothing at all negative except my balances are too high.

Unfortunately, I've been using my AMEX PRG as my daily "go to" card for the past few months and paying it as I go. Well, this month I ran into car problems and the dog had an unexpected trip to the vet. I have a $2000 payment due on the 10th of April & the chances are I won't make it. I can probably pay about half but not all at once.

What are my options with AMEX? Will they cut me off, cut off my other card (which is current) or what? I can probably pay it within 30 days but now on the due date.

I'm so nervous & mad at myself for letting this happen!

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 06:56:46 GMT

@joeyoey wrote:
I'm hoping someone can help me out here.

I've finally (finally!) got a clear report...nothing at all negative except my balances are too high.

Unfortunately, I've been using my AMEX PRG as my daily "go to" card for the past few months and paying it as I go. Well, this month I ran into car problems and the dog had an unexpected trip to the vet. I have a $2000 payment due on the 10th of April & the chances are I won't make it. I can probably pay about half but not all at once.

What are my options with AMEX? Will they cut me off, cut off my other card (which is current) or what? I can probably pay it within 30 days but now on the due date.

I'm so nervous & mad at myself for letting this happen!

Take a breath - it's going to be OK

Take a look at your Amex dashboard - you should notice you have a 'Pay over Time' balance, and that it should include any charges you've made over $100. So, as long as you can pay the portion of the balance not included in Pay over Time, and the minimum payment on that, you should be OK.

You may also have the option of adding charges to Pay over Time that aren't already designated as such - again, check your dashboard

If you don't see Pay over Time anywhere, call customer service and ask about it.

Good Luck!

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 07:40:54 GMT

Check your dashboard but if all else fails... do you have any other cards? Can you BT to a different card?

Re: Help - Can't Pay AMEX PRG in Full This Month

-Cal- — Mon, 20 Mar 2017 08:25:18 GMT

Like previous posters mentioned, enroll in "Pay over time" and/or do a balance transfer to another card.

Re: Help - Can't Pay AMEX PRG in Full This Month

Credit_hawk — Mon, 20 Mar 2017 08:43:13 GMT

They gave you some solid suggestions regarding "Pay over time" and a possilbe BT.

Just out of curiousity, is "Pay over time" available to all AMEX charge memebers or is it targeted? I thought it was a targeted benefit. I could be wrong as I don't have a charge card.

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 10:43:48 GMT

Just curious, why didn't you put that charge on a different card man

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 14:11:21 GMT

This is why i like having cards with cheap BT offers, and low interest lines of credit available for absolute emergency situations.

Re: Help - Can't Pay AMEX PRG in Full This Month

wasCB14 — Mon, 20 Mar 2017 14:24:06 GMT

Does PoT apply retroactively to include past purchases?

Re: Help - Can't Pay AMEX PRG in Full This Month

Chickenpotpie — Mon, 20 Mar 2017 16:20:24 GMT

Do you have dedicated pet insurance? I know that might sound a bit crazy for some, but considering I can't get out of the vets office for under 200 bucks usually, I find it to be a must. We had one e-Vet situation that was roughly 1800. The insurance reimbursed for everything past 25 dollars.

I also think that it might be prudent to not put emergency items on that charge card, tempting as it might be for the points. I have a low interest plat just for such a thing. Hopefully you can get put on the POT plan

Re: Help - Can't Pay AMEX PRG in Full This Month

lhcole77 — Mon, 20 Mar 2017 16:27:48 GMT

@wasCB14 wrote:
Does PoT apply retroactively to include past purchases?

It has for me

Re: Help - Can't Pay AMEX PRG in Full This Month

manyquestions — Mon, 20 Mar 2017 17:44:01 GMT

You have received good advice for possible solutions. Whatever you choose to do, please do it as soon as possible. In my experience, AMEX can be one of the harsher credit card companies, closing all cards if a payment gets bounced and things like that. Good luck!

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 17:58:45 GMT

@wasCB14 wrote:
Does PoT apply retroactively to include past purchases?

For me no it did not. I signed up for it and it took effect a month after my sign up date and did not (which it stated when signing up for it) include what I had already spent.

OP- give Amex a call or use the chat feature to see if they have any ideas, or BT to another card. Good luck!

Re: Help - Can't Pay AMEX PRG in Full This Month

NRB525 — Mon, 20 Mar 2017 18:27:51 GMT

@Anonymous wrote:
Just curious, why didn't you put that charge on a different card man

From the original post "balances are too high"

A charge card lets you get in real trouble short term if you are not careful with it.

Re: Help - Can't Pay AMEX PRG in Full This Month

wasCB14 — Mon, 20 Mar 2017 23:09:09 GMT

Doesn't PoT have something like a 20% APR? Using it seems like an act of desperation...if Amex even allows it.

OP, what are your BT options on other cards?

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 22:52:42 GMT

I would consider this a time of desperation for OP. Either Pay over time or do a balance transfer to another card. The best case scenario here is paying interest/fees and avoiding any type of negative remarks on your credit score!

Re: Help - Can't Pay AMEX PRG in Full This Month

northface28 — Mon, 20 Mar 2017 23:19:17 GMT

Get a revolver immediately.

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Mon, 20 Mar 2017 23:38:09 GMT

@Anonymous wrote:
This is why i like having cards with cheap BT offers, and low interest lines of credit available for absolute emergency situations.

Same here...

Re: Help - Can't Pay AMEX PRG in Full This Month

Glkslngr — Mon, 20 Mar 2017 23:46:02 GMT

Check your other cards and see if you have any balance transfer promos. Discover and my credit union cc usually have great deals. Do it asap as it takes a a couple business days to post as a payment to your card.

Re: Help - Can't Pay AMEX PRG in Full This Month

K-in-Boston — Tue, 21 Mar 2017 02:47:32 GMT

@wasCB14 wrote:
Doesn't PoT have something like a 20% APR? Using it seems like an act of desperation...if Amex even allows it.

OP, what are your BT options on other cards?

Mine has always been in the 14s/15s. I added it onto both of my charge cards around 2004 and it has always been the same as my Blue, so I'm not sure if that has changed over the years or not. I think most people do get 18.74% with the latest round of increases, though. Even so, OP said he could pay half of the $2000 and the rest probably within 30 days, so even a full month of interest at 18.74% would only be $15.62 which is far better than AA from AmEx and a 30 day late strike that could potentially cause AA from other lenders. OP, if you cannot pay then Pay Over Time would be your best bet. If that is not an option, BT (a standard 3% fee would cost you $30 to transfer $1000) to a non-AmEx card with a promo APR. If all else fails, virtually any credit card you have (even some store cards, particularly Citi-issued) will allow you to transfer at either your purchase or cash advance APR, often without a fee (CapOne does this). Last resorts would be open a new revolver with a 0% APR balance transfer offer (Citi Diamond Preferred, BankAmericard, etc...) immediately, or just call American Express up and explain that you will need more time and ask them what your options are to keep your account in good standing. I have heard that sometimes they allow you to schedule a future ACH and that commitment from you will keep them from shutting you down or reporting you late. Best of luck and keep us updated!

Re: Help - Can't Pay AMEX PRG in Full This Month

Anonymous — Tue, 21 Mar 2017 03:13:40 GMT

@Anonymous wrote:
Well here is an ideal. You can MS. Use that money to pay off $1000 and leave it on another card. You'll pay around $10 for 1% interest and the beautiful part, you can make monthly payments for 6-12 months. This is my favorite trick. If you're smart, you'll actually profit $30-40 bucks doing this by choosing the right card. Good luck.

I've only seen MS to mean manufactured spending... what does it mean in this context?