topic Re: Making Payments AMEX vs VISA / MC in Credit Cards

Making Payments AMEX vs VISA / MC

Openwater — Tue, 13 Feb 2024 05:58:25 GMT

One of my favorite things about AMEX is that their payments go through the instant that you pay it online. This is a great feature that I have only seen on AMEX. So I can effectively wait until the closing date and make my payment, and not worry about it processing.

VISA / MC on the other hand does not provide such luxuries. I've tried doing the same thing with their network and sometimes there is a delay in processing. Which in turn, causes a balance to cut. I usually stop spending a few days before to achieve the 0 balanace.

I just like how I pay my card on AMEX and it shows 0 bal once I refresh. It's just nice to get that instant credit. Anyone else enjoy that feature?

On a side note, AMEX charges seem to switch from pending to posted much faster....

Re: Making Payments AMEX vs VISA / MC

redpat — Tue, 13 Feb 2024 08:36:28 GMT

Citi is instant but I don't care and let balances post anyway.

I only pay cards the 27th of the month.

IMO azero is for the birds and have better things to do with my time.

Re: Making Payments AMEX vs VISA / MC

Saleen099 — Tue, 13 Feb 2024 13:52:33 GMT

@Openwater wrote:
One of my favorite things about AMEX is that their payments go through the instant that you pay it online. This is a great feature that I have only seen on AMEX. So I can effectively wait until the closing date and make my payment, and not worry about it processing.

VISA / MC on the other hand does not provide such luxuries. I've tried doing the same thing with their network and sometimes there is a delay in processing. Which in turn, causes a balance to cut. I usually stop spending a few days before to achieve the 0 balanace.

I just like how I pay my card on AMEX and it shows 0 bal once I refresh. It's just nice to get that instant credit. Anyone else enjoy that feature?

On a side note, AMEX charges seem to switch from pending to posted much faster....

As for the last statement about AMEX charges do post fast I've been in a restaurant at five or 6 o'clock and the next day it'll show up on my bill. I don't know how they know how much I tipped but it seems that they know immediately and they put it on my bill the next day.

Re: Making Payments AMEX vs VISA / MC

CorpCrMgr1 — Tue, 13 Feb 2024 16:46:22 GMT

Thank you for the info. You are braver than I am. I always try to pay a few days early, not going to chance it.

Re: Making Payments AMEX vs VISA / MC

Rogue46 — Tue, 13 Feb 2024 19:52:35 GMT

I have found that to be the case with Amex also, Chase also seems to post much faster then other cards I have.

Amazon is the worst, I've made double payments more then once on that account because it takes forever to credit the payment..

Re: Making Payments AMEX vs VISA / MC

nytokyobred79 — Wed, 14 Feb 2024 13:18:36 GMT

@Saleen099 wrote:
@Openwater wrote:
One of my favorite things about AMEX is that their payments go through the instant that you pay it online. This is a great feature that I have only seen on AMEX. So I can effectively wait until the closing date and make my payment, and not worry about it processing.

VISA / MC on the other hand does not provide such luxuries. I've tried doing the same thing with their network and sometimes there is a delay in processing. Which in turn, causes a balance to cut. I usually stop spending a few days before to achieve the 0 balanace.

I just like how I pay my card on AMEX and it shows 0 bal once I refresh. It's just nice to get that instant credit. Anyone else enjoy that feature?

On a side note, AMEX charges seem to switch from pending to posted much faster....
As for the last statement about AMEX charges do post fast I've been in a restaurant at five or 6 o'clock and the next day it'll show up on my bill. I don't know how they know how much I tipped but it seems that they know immediately and they put it on my bill the next day.

I agree with you both. And also, AMEX has an uncanny way of pushing through pending charges that appear right near or at the date of close ( sometimes faster than normal) whereas BoA as an example will have charges pend for a while even if nearing the statement close. When I absolutely don't want a charge pushing through by statement closing date( usually bc I want to keep utilization down, not AZEO), I avoid using any of my AMEX cards.

Re: Making Payments AMEX vs VISA / MC

Horseshoez — Wed, 14 Feb 2024 13:28:55 GMT

@redpat wrote:

IMO azero is for the birds and have better things to do with my time.

Agreed; unless one is shopping for a mortgage, car loan, or a new credit card; what's the point of fussing about AZEO? Sometimes I hit All-Zero, usually it is AZEO, AZE2, or sometimes AZE3 and my scores do whatever they will do; it doesn't impact me regardless.

Re: Making Payments AMEX vs VISA / MC

K-in-Boston — Wed, 14 Feb 2024 14:44:44 GMT

American Express owns their own payment network, so they have immediate access to settlement data from merchants. This is why charges made sometimes even on the same day as your billing cycle end date will post to statements. Amex also has an uncanny ability to initiate ACH transfers from your bank the second you make a payment (unlike some institutions like PenFed and Synchrony for example that seem to take days).

Re: Making Payments AMEX vs VISA / MC

nytokyobred79 — Thu, 15 Feb 2024 00:58:02 GMT

@K-in-Boston wrote:
American Express owns their own payment network, so they have immediate access to settlement data from merchants. This is why charges made sometimes even on the same day as your billing cycle end date will post to statements. Amex also has an uncanny ability to initiate ACH transfers from your bank the second you make a payment (unlike some institutions like PenFed and Synchrony for example that seem to take days).

I like how you've summed it up. I knew Amex will push through pending charges and ACH quickly but of course, it's bc they own their own payment network. Sums it up nicely 😊

Re: Making Payments AMEX vs VISA / MC

Openwater — Thu, 15 Feb 2024 02:13:12 GMT

@K-in-Boston

I wasn't aware that they had their own payment network. That is pretty solid. I love how AMEX handles things.\

@Horseshoez and @redpat

It's not really an AZEO strategy. I just don't like raising my utilization up very high. Typically I leave a few cards with low balances to post. But I spend a decent amount each month and don't want that amount posting.

Re: Making Payments AMEX vs VISA / MC

redpat — Thu, 15 Feb 2024 07:18:19 GMT

@Openwater

At the cost of rewards you would for go by changing cards?

You can try a month just to see what happens as utilization has no memory.

Re: Making Payments AMEX vs VISA / MC

Horseshoez — Thu, 15 Feb 2024 12:58:20 GMT

@Openwater wrote:
@K-in-Boston

I wasn't aware that they had their own payment network. That is pretty solid. I love how AMEX handles things.\

@Horseshoez and @redpat
It's not really an AZEO strategy. I just don't like raising my utilization up very high. Typically I leave a few cards with low balances to post. But I spend a decent amount each month and don't want that amount posting.

I effectively do the same thing, I typically charge mid-four to low-five figures per month but my cards rarely report more than $100 in total for those with non-zero balances. With that said, my wife and I are house hunting, so applying for a mortgage is something which will happen most likely within the next 90 days, so for the first time in my life, I'm going to actively start practicing AZEO this month.

Re: Making Payments AMEX vs VISA / MC

Brian_Earl_Spilner — Thu, 15 Feb 2024 13:43:30 GMT

Penfed, comenity, and cap1 give me instant credit for payments. Sync is usually within 24 hours. As for payments, depending on the bank or credit union it usually happens same day. Chase will show it pending within an hour. Sdccu will show payment completed the next day. NFCU will show it pending within a day then it disappears for a few days before posting, which is why don't use them for my main bank. They do it with everything and I've forgotten about charges and payments out of that account. Really annoying.

Re: Making Payments AMEX vs VISA / MC

Horseshoez — Thu, 15 Feb 2024 13:56:29 GMT

@Brian_Earl_Spilner, when you refer to payments, is it safe to assume you're talking about "pull" payments? Many of us, myself included, virtually never use that type of payment; in my case I either do an intrabank account to account transfer, or a "push" payment.

Re: Making Payments AMEX vs VISA / MC

Brian_Earl_Spilner — Thu, 15 Feb 2024 14:01:07 GMT

@Horseshoez wrote:
@Brian_Earl_Spilner, when you refer to payments, is it safe to assume you're talking about "pull" payments? Many of us, myself included, virtually never use that type of payment; in my case I either do an intrabank account to account transfer, or a "push" payment.

Yes, I almost always pull the payment. Rarely need to push one. I've used bill pay through many lenders and am not a fan. I've rarely had an issue with pulling. I prefer having record with the lender that a payment was initiated through them as it has saved me when there was an issue.

Re: Making Payments AMEX vs VISA / MC

Openwater — Thu, 15 Feb 2024 15:06:12 GMT

@Brian_Earl_Spilner wrote:
@Horseshoez wrote:
@Brian_Earl_Spilner, when you refer to payments, is it safe to assume you're talking about "pull" payments? Many of us, myself included, virtually never use that type of payment; in my case I either do an intrabank account to account transfer, or a "push" payment.
Yes, I almost always pull the payment. Rarely need to push one. I've used bill pay through many lenders and am not a fan. I've rarely had an issue with pulling. I prefer having record with the lender that a payment was initiated through them as it has saved me when there was an issue.

I have never heard of the terms "push" and "pull" for payments. Im guessing, "pulling" is paying directly through the lenders website/app. Whereas "pushing" is using bill pay through your bank?

Re: Making Payments AMEX vs VISA / MC

Horseshoez — Thu, 15 Feb 2024 15:31:36 GMT

@Openwater wrote:
@Brian_Earl_Spilner wrote:
@Horseshoez wrote:
@Brian_Earl_Spilner, when you refer to payments, is it safe to assume you're talking about "pull" payments? Many of us, myself included, virtually never use that type of payment; in my case I either do an intrabank account to account transfer, or a "push" payment.
Yes, I almost always pull the payment. Rarely need to push one. I've used bill pay through many lenders and am not a fan. I've rarely had an issue with pulling. I prefer having record with the lender that a payment was initiated through them as it has saved me when there was an issue.
I have never heard of the terms "push" and "pull" for payments. Im guessing, "pulling" is paying directly through the lenders website/app. Whereas "pushing" is using bill pay through your bank?

Yes, this exactly.

Re: Making Payments AMEX vs VISA / MC

Anonymous — Thu, 15 Feb 2024 15:40:36 GMT

@Horseshoez wrote:
With that said, my wife and I are house hunting, so applying for a mortgage is something which will happen most likely within the next 90 days, so for the first time in my life, I'm going to actively start practicing AZEO this month.

I guess you should, for a little while at least, remove the top line of your signature!

Re: Making Payments AMEX vs VISA / MC

Horseshoez — Thu, 15 Feb 2024 15:57:45 GMT

@Anonymous wrote:
@Horseshoez wrote:
With that said, my wife and I are house hunting, so applying for a mortgage is something which will happen most likely within the next 90 days, so for the first time in my life, I'm going to actively start practicing AZEO this month.
I guess you should, for a little while at least, remove the top line of your signature!

LOL, how about, "I am temporarily doing AZEO until I get a mortgage."