topic Re: Making minimum payment to amex in Credit Cards

Making minimum payment to amex

red259 — Thu, 22 Aug 2019 23:37:56 GMT

Is there a downside to making the minimum payment to amex to get the points from the cycle even though I will end up paying in full before the final due date? Will it flag my account for review in the system if I make only the minimum payment, before I have a chance to PIF by the due date?

Re: Making minimum payment to amex

Anonymous — Thu, 22 Aug 2019 23:41:31 GMT

highly doubt there would be any problem with that.

Re: Making minimum payment to amex

K-in-Boston — Fri, 23 Aug 2019 00:49:48 GMT

No. As long as you PIF by the due date it’s still PIF. Carrying a large balance and making only minimum payments for multiple statement cycles on the other hand...

I’ve done minimum payments in the past just to be safe when I planned to BT the balance but wasn’t 100% confident in the lender processing the BT in time. No issues.

Re: Making minimum payment to amex

Shadowfactor — Fri, 23 Aug 2019 02:41:27 GMT

You aren’t considered late until after the due date. All Amex cares about is that you pay the minimum by the due date.

Things might change after a couple cycles of only paying the minimum, but for what you’re doing it’s considered PIF on time.

Re: Making minimum payment to amex

Anonymous — Fri, 23 Aug 2019 02:46:55 GMT

@Shadowfactor wrote:
You aren’t considered late until after the due date. All Amex cares about is that you pay the minimum by the due date.

Things might change after a couple cycles of only paying the minimum, but for what you’re doing it’s considered PIF on time.

I have done minimum payments with Amex with no problem but those cards also have/had 0% intro APRs as well. I’m actually doing it on my BBP currently. My 0% expires in May so I’m focusing on paying off other balances that expire first. I’ve never did it on a card with no intro apr though because I PIF those cards.

I think the problem lies when one does it on a card that is getting charged interest

Re: Making minimum payment to amex

Anonymous — Fri, 23 Aug 2019 02:51:06 GMT

Questionable. AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person. Not sure IMO if it's worth the risk.

Re: Making minimum payment to amex

NRB525 — Fri, 23 Aug 2019 09:11:16 GMT

@Anonymous wrote:
Questionable. AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person. Not sure IMO if it's worth the risk.

The OP scenario is to pay the balance in full by the due date. I doubt an algorithm could pick out any sort of trend from that, other than “cardmember may be making multiple payments by the due date.”

I don’t see any risk.

Re: Making minimum payment to amex

Anonymous — Fri, 23 Aug 2019 09:54:06 GMT

^^^ that’s how I took this too. First payment in the billing cycle is being made in the amount of the minimum payment just so the required payment is covered. Then later (next paycheck possibly) the balance is being paid. I see no issue - OP is simply paying off the balance in two payments. He just happens to make the first one in the amount of the minimum payment so that should something happen later, the required amount has already been covered.

Re: Making minimum payment to amex

Shadowfactor — Fri, 23 Aug 2019 14:40:07 GMT

@Anonymous wrote:
@Shadowfactor wrote:
You aren’t considered late until after the due date. All Amex cares about is that you pay the minimum by the due date.

Things might change after a couple cycles of only paying the minimum, but for what you’re doing it’s considered PIF on time.
I have done minimum payments with Amex with no problem but those cards also have/had 0% intro APRs as well. I’m actually doing it on my BBP currently. My 0% expires in May so I’m focusing on paying off other balances that expire first. I’ve never did it on a card with no intro apr though because I PIF those cards.

I think the problem lies when one does it on a card that is getting charged interest

It’s very YMMV and profile dependent.

I think companies have come to expect that people will carry balances during 0% periods. Why else would they offer them ? They hope you carry a balance and either forget or don’t have the money to pay it off in time and they get all that interest.

I personally think amex would shut me down in a heartbeat if I continued my usual activity of charging 20-40K a month and not PIF. My income doesn’t support that sort of carry, but my business revenue supports spending that much monthly.

Re: Making minimum payment to amex

red259 — Fri, 23 Aug 2019 19:04:59 GMT

@NRB525 wrote:
@Anonymous wrote:
Questionable. AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person. Not sure IMO if it's worth the risk.
The OP scenario is to pay the balance in full by the due date. I doubt an algorithm could pick out any sort of trend from that, other than “cardmember may be making multiple payments by the due date.”

I don’t see any risk.

Yes this. I just don't feel like PIF right now but I was trying to see if making a minimum payment now would speed up my bonus posting. However, after looking into it I believe the SUB offer requires 1k more spend than I had spent already, which would explain why the bonus had not posted. I spent an extra $1k on the card, so hopefully I will know in a few days once that charge clears.

Re: Making minimum payment to amex

K-in-Boston — Fri, 23 Aug 2019 19:25:38 GMT

@red259 wrote:
@NRB525 wrote:
@Anonymous wrote:
Questionable. AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person. Not sure IMO if it's worth the risk.
The OP scenario is to pay the balance in full by the due date. I doubt an algorithm could pick out any sort of trend from that, other than “cardmember may be making multiple payments by the due date.”

I don’t see any risk.
Yes this. I just don't feel like PIF right now but I was trying to see if making a minimum payment now would speed up my bonus posting. However, after looking into it I believe the SUB offer requires 1k more spend than I had spent already, which would explain why the bonus had not posted. I spent an extra $1k on the card, so hopefully I will know in a few days once that charge clears.

Amex bonuses are always triggered by spend, never by payments, and are usually extremely fast. For example, my SPG (later Luxury and now Bonvoy whatever) and SkyMiles Platinum bonuses hit within a few days of receiving the cards since the first purchase on each was enough to hit the spending requirements - well before any payment was due. The MRs for my upgrade to Platinum about 4 years ago and retention on my Gold card at the end of 2017 both posted within a day or two of the charges that met the spend being finalized.