topic Re: Amex Annual Fee Timing in Credit Cards

Amex Annual Fee Timing

Zoostation1 — Thu, 15 Feb 2024 04:19:20 GMT

I have a BCP that had the first year's AF waived so this will be my first time paying the fee. My 13th statement will close on Feb 19th and based on my search of previous posts I'm sure it's coming (received the expected message on my previous statement), but am unsure whether it will l post as that statement cuts (effectively making this upcoming statement close $95 higher than the actual spend would be), or post just immediately after the statement cut time and effectively be the 1st transaction for the new statement period (preferable IMO). Any clarification would be appreciated.

Re: Amex Annual Fee Timing

Openwater — Thu, 15 Feb 2024 04:47:28 GMT

I just had my BCP AF hit. I didn't know it was coming, I paid my account off 2 days before cut off to have a 0 bal due. It dropped on the last day of the statement cut date. So I had a $95 Balance when my billing statement closed.

It lands on the last day of your billing cycle, Not sure if early or late in the day, but definitely last day of the billing cycle.

Re: Amex Annual Fee Timing

Brian_Earl_Spilner — Thu, 15 Feb 2024 04:54:08 GMT

It appears as a fee for the statement due.

Closing balance

- payments/credits

+ New charges

+ New cash advances

+ Fees (af)

+ Interest

= Total amount due by next due date

In my case, January bill due 2/14. Af billed 2/17 for February bill. Shows as a fee due 3/14.

Re: Amex Annual Fee Timing

Zoostation1 — Thu, 15 Feb 2024 06:55:34 GMT

Thanks for the info @Brian_Earl_Spilner @Openwater . This is kind of what I expected, but something I find inherently wrong on principle at the same time. For me in this case it doesn't matter all that much since I'm currently letting my BCP report a balance (I'm letting 2/5 report and BCP is currently one of them). The problem I have with it is posting as the statement closes effectively making it so you can't have the card report 0 in the cycle the AF hits. IMO, it should post at the beginning of a cycle (just after the previous statement close) so that you can control whether the card reports a balance at statement closing

Re: Amex Annual Fee Timing

jojo79 — Thu, 15 Feb 2024 10:30:03 GMT

@Zoostation1 wrote:
The problem I have with it is posting as the statement closes effectively making it so you can't have the card report 0 in the cycle the AF hits. IMO, it should post at the beginning of a cycle (just after the previous statement close) so that you can control whether the card reports a balance at statement closing

I know you mentioned it's okay if this card posts with a balance this time; but what I've done in the past is to push a payment of the AF from my bank using billpay, to the CC which results in a credit balance so that when the AF posts and statement custs, it results in $0 bal due for the next month.... something to think about for the the future.

Re: Amex Annual Fee Timing

nytokyobred79 — Thu, 15 Feb 2024 12:41:28 GMT

@jojo79 wrote:
@Zoostation1 wrote:
The problem I have with it is posting as the statement closes effectively making it so you can't have the card report 0 in the cycle the AF hits. IMO, it should post at the beginning of a cycle (just after the previous statement close) so that you can control whether the card reports a balance at statement closing
I know you mentioned it's okay if this card posts with a balance this time; but what I've done in the past is to push a payment of the AF from my bank using billpay, to the CC which results in a credit balance so that when the AF posts and statement custs, it results in $0 bal due for the next month.... something to think about for the the future.

Yes, this is exactly what I did this year when I knew that my Delta Reserve annual fee would hit in January. I pushed through a payment from my bank billpay so that it would have the credit balance to cover the fee.

Re: Amex Annual Fee Timing

gorgon — Thu, 15 Feb 2024 16:32:37 GMT

On a related note: Let's say you wanted to downgrade to a non-AF card. Do you wait until the AF posts and then ask, or ask after 12 months + 1 day to avoid a claw back of the SUB?

Re: Amex Annual Fee Timing

Brian_Earl_Spilner — Thu, 15 Feb 2024 16:45:32 GMT

@gorgon wrote:
On a related note: Let's say you wanted to downgrade to a non-AF card. Do you wait until the AF posts and then ask, or ask after 12 months + 1 day to avoid a claw back of the SUB?

You would wait until the new statement to ensure there was no clawback. You'll receive a prorated refund depending on when you downgraded. That doesn't mean you can't do it within the first 30 days after it posts, but people are paranoid. Even if they didn't clawback the SUB, they could block you from future SUBs.

Re: Amex Annual Fee Timing

SouthJamaica — Thu, 15 Feb 2024 19:42:13 GMT

@Zoostation1 wrote:
I have a BCP that had the first year's AF waived so this will be my first time paying the fee. My 13th statement will close on Feb 19th and based on my search of previous posts I'm sure it's coming (received the expected message on my previous statement), but am unsure whether it will l post as that statement cuts (effectively making this upcoming statement close $95 higher than the actual spend would be), or post just immediately after the statement cut time and effectively be the 1st transaction for the new statement period (preferable IMO). Any clarification would be appreciated.

In my experience they add it to the statement at the last minute.

Re: Amex Annual Fee Timing

Zoostation1 — Fri, 16 Feb 2024 01:08:04 GMT

@jojo79Good suggestion, but I'm not set up to do bill pay via my bank so can't do push payments currently (not sure how long it would take to get it set up but for this go around I've planned for it posting). Since only 2 of my 5 cards have an AF and one is always reporting a balance being my highest limit. I'll probably just plan on this card being my second card reporting next go around again.

Re: Amex Annual Fee Timing

Centurion_Dreamer — Fri, 16 Feb 2024 14:25:43 GMT

It is possible to pay the Amex Card on the day the AF hits (including assumed AF).

This has to be done between 6 and 8pm in my opinion.

When you are trying it to early and it was paid to zero before, the system is saying that you cannot pay more because the balance is already zero.

However, it is possible during evening times on the day the AF hits.

Re: Amex Annual Fee Timing

AyaMai — Fri, 16 Feb 2024 20:52:57 GMT

@SouthJamaica wrote:
@Zoostation1 wrote:
I have a BCP that had the first year's AF waived so this will be my first time paying the fee. My 13th statement will close on Feb 19th and based on my search of previous posts I'm sure it's coming (received the expected message on my previous statement), but am unsure whether it will l post as that statement cuts (effectively making this upcoming statement close $95 higher than the actual spend would be), or post just immediately after the statement cut time and effectively be the 1st transaction for the new statement period (preferable IMO). Any clarification would be appreciated.
In my experience they add it to the statement at the last minute.

It's annoying they add it in the last minute and being reported that I have a balance on every Amex card I have.

Re: Amex Annual Fee Timing

keluric — Sat, 17 Feb 2024 02:21:20 GMT

@Zoostation1 wrote:
Thanks for the info @Brian_Earl_Spilner @Openwater . This is kind of what I expected, but something I find inherently wrong on principle at the same time. For me in this case it doesn't matter all that much since I'm currently letting my BCP report a balance (I'm letting 2/5 report and BCP is currently one of them). The problem I have with it is posting as the statement closes effectively making it so you can't have the card report 0 in the cycle the AF hits. IMO, it should post at the beginning of a cycle (just after the previous statement close) so that you can control whether the card reports a balance at statement closing

Yep. This annoys me.

Re: Amex Annual Fee Timing

UncleB — Sat, 17 Feb 2024 14:48:57 GMT

@Zoostation1 wrote:
@jojo79Good suggestion, but I'm not set up to do bill pay via my bank so can't do push payments currently (not sure how long it would take to get it set up but for this go around I've planned for it posting). Since only 2 of my 5 cards have an AF and one is always reporting a balance being my highest limit. I'll probably just plan on this card being my second card reporting next go around again.

If you really want that statement to report $0 and the website won't let you schedule the payment just call or chat with an Amex rep.

They're known to be able to manually schedule payments from a linked bank account for new cardmembers who are limited to one payment per month, so they should be able to help you as well.