topic Re: How common is getting Pay Over Time option AMEX in Credit Cards

How common is getting Pay Over Time option AMEX

AverageJoesCredit — Wed, 21 Jun 2017 02:20:48 GMT

Evening everyone. Just a quick question. Today i decided to open all my sp cli request denial letters lol, Disco, Sync , and head held low , Amex( , tried to sneak a 3x early lol).

Anyhow, i thought the letter from Amex was my denial for last 3x request for perhaps too early or what not. Ends up its saying ive been selected to be enrolled in the Pay Over Time with my Green card up to 10,000. Lol, i almost did a double thinking they actually approved my last request but then i realized its the charge card.

Its states not everyone qualifies for this offer. Is that true and just curious to any comments on this subject if anyone cares to offer. Thanks everyone

Re: How common is getting Pay Over Time option AMEX

fltireguy — Wed, 21 Jun 2017 02:25:15 GMT

AJC - I had it on my Platinum since about a month after I opened the account. Most people get a $30k CL.. but, apparently you and I both are only qualified for the plebian $10k... LOL

Re: How common is getting Pay Over Time option AMEX

ChargedUp — Wed, 21 Jun 2017 03:01:21 GMT

@AverageJoesCredit wrote:
Evening everyone. Just a quick question. Today i decided to open all my sp cli request denial letters lol, Disco, Sync , and head held low , Amex( , tried to sneak a 3x early lol).

Anyhow, i thought the letter from Amex was my denial for last 3x request for perhaps too early or what not. Ends up its saying ive been selected to be enrolled in the Pay Over Time with my Green card up to 10,000. Lol, i almost did a double thinking they actually approved my last request but then i realized its the charge card.

Its states not everyone qualifies for this offer. Is that true and just curious to any comments on this subject if anyone cares to offer. Thanks everyone

I have it on my PRG but have yet to use it. Does it act as a hidden tradeline being that the card reports as a charge card?

Re: How common is getting Pay Over Time option AMEX

UncleB — Wed, 21 Jun 2017 03:02:07 GMT

When I had my Green card (opened in 2015 the same day as my BCP) I was never offered POT... although in fairness I still had a couple of old baddies still reporting during the time I had it.

Fast-forward a year... I was approved for my PRG a month after closing the Green (newly baddie-free), and I was offered POT when I activated the card (up to $35k). I will add that with my modest profile/humble resources it's not likely I would get anywhere near $35k (nor would I ever want or try to) so that number isn't really meaningful to me. I really only wanted it as a "just in case" anyway.

Side note: I was so excited to get POT that I accepted it without second thought, only to read here afterwards that many are offered a MR point bonus to add POT later on.

Re: How common is getting Pay Over Time option AMEX

Anonymous — Wed, 21 Jun 2017 03:29:25 GMT

I got it (35k) within the first couple weeks of having my PRG card, but I only enrolled when they offered me 10,000 MR to do so. I only used it when they offered me a 6 month 0% interest period. It was fairly straightforward. I forgot to check whether the debt reported. I could see me using it again if Amex offered good deals on the APR.

Re: How common is getting Pay Over Time option AMEX

AverageJoesCredit — Wed, 21 Jun 2017 04:41:47 GMT

Thanks everyone for your replies. Very interesting. I just find it another nice little feature to have just in case. Im not really disappointed that its not higher than 10k , i only make a charge here and there on it so far, as my ED is my main Amex. Even then it mentions though its npsl that there actually can be limits to your spending power.

Re: How common is getting Pay Over Time option AMEX

K-in-Boston — Wed, 21 Jun 2017 04:51:13 GMT

It got added to both of my charge cards around 2004, $35k each. Not a hidden trade line at all, the balance reports to the CBs but since it is a charge card it isn't factored into your utilization. I've had one at $22k and the other up to $19k before with no issues from Amex. It used to be really beneficial since some of the older scoring models would factor in charge card balances and since the cards don't report a limit it would use the high balance to figure out utilization.

Re: How common is getting Pay Over Time option AMEX

Anonymous — Wed, 21 Jun 2017 07:21:57 GMT

I didn't I know I had the POT offer with MR points until I called in and spoke to a customer service rep about somehting else, that's when she brought it up that if I enrolled to the POT I would get MR points, so I accepted. I believe mine says up to 35k and something about any purchase $100 and up qualifies to be in the POT. This was about a year later of having the card. But once again, maybe i had the offer the whole time and didnt know cause like i said it was brought up by the rep on the phone randomly that I had the offer. It's nice to have as back up and I couldnt pass up on the MR points!

Re: How common is getting Pay Over Time option AMEX

AverageJoesCredit — Wed, 21 Jun 2017 11:35:46 GMT

Free MR points would be sweet but i think mine is just plain vanilla. Not gonna complain, added bennys always welcome

Re: How common is getting Pay Over Time option AMEX

Anonymous — Wed, 21 Jun 2017 14:29:40 GMT

@AverageJoesCredit wrote:
Thanks everyone for your replies. Very interesting. I just find it another nice little feature to have just in case. Im not really disappointed that its not higher than 10k , i only make a charge here and there on it so far, as my ED is my main Amex. Even then it mentions though its npsl that there actually can be limits to your spending power.

I want to say it grows as you consistently pay more and pay off on your charges; I was approved about a month after opening mine, but honestly never found much use in it so far...guess I should have waited for the MR offer...

Re: How common is getting Pay Over Time option AMEX

Blackswizz750 — Wed, 21 Jun 2017 15:06:47 GMT

@AverageJoesCredit wrote:
Free MR points would be sweet but i think mine is just plain vanilla. Not gonna complain, added bennys always welcome

dont feel bad AJC. They told me I may get an offer within 6 months. I use my green card more that my other cards now and its cool. I am sure they hit ya with interest if you pay over time.

Re: How common is getting Pay Over Time option AMEX

Berk — Wed, 21 Jun 2017 16:28:43 GMT

I'm sure Amex would love it if everyone used POT since the interest rates are so high. I signed up for the 10K in points and have never used it.

Re: How common is getting Pay Over Time option AMEX

AverageJoesCredit — Wed, 21 Jun 2017 17:10:13 GMT

Touché kind Sir, Touché

Re: How common is getting Pay Over Time option AMEX

JustBPatient — Wed, 21 Jun 2017 17:25:24 GMT

As mentioned by several on here, if you can wait for a MR sign up bonus. They gave me 35k POT and 10k MR's for signing up.

Re: How common is getting Pay Over Time option AMEX

K-in-Boston — Wed, 21 Jun 2017 17:26:09 GMT

The interest rates for POT are on par with revolvers, mine are in the 15s. Actually my Platinum currently has a 11.99% promo but it's still PIF since I am carrying a lot of balances elsewhere all 0 - 4.99%.

Re: How common is getting Pay Over Time option AMEX

Anonymous — Wed, 21 Jun 2017 17:47:07 GMT

Call Amex, and tell them your great PJs, they might give you POT with 0% apr!

Re: How common is getting Pay Over Time option AMEX

Berk — Wed, 21 Jun 2017 18:00:44 GMT

@K-in-Boston wrote:
The interest rates for POT are on par with revolvers, mine are in the 15s. Actually my Platinum currently has a 11.99% promo but it's still PIF since I am carrying a lot of balances elsewhere all 0 - 4.99%.

Absolutely it is. But, unless it's 6% or less, its too much - for me at least.