topic Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC in Credit Cards

CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 03:02:08 GMT

How is the due date of a payment decided. i have the amex zinc and my statement closes on the 11 th of the month and my payment is due on the 23rd of the same month. is there anything in the new credit laws that addresses how long after your closing date your payment is due? this just seems like a very short time frame to me. are the rules different for charge cards as opposed to revolving credit cards? thanks in advance for all replys.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 04:30:49 GMT

Yes the payment time is shorter because they expect the payment to be PIF since it's a charge card. The only grace period is the time frame from the closing date and the due date. I asked AMEX CSR a similiar question, they said if the payment is not recieved by the due date then they will freeze the account. I could be wrong.. Only explaining what I was told.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

haulingthescoreup — Wed, 22 Sep 2010 04:41:48 GMT

Hmmm, 12 days doesn't seem all that bad, especially if you do online payments, although it is a bit short-ish, I guess. We used to have a sticky up here with the Credit Card ACT provisions, but I can't find it now. (Old news and all.)

One spooky thing that AmEx told me when I got my Gold was that the due date was just a suggestion, and that as long as I paid by the next statement date, I'd be fine. Needless to say, I ignored that one.

I just checked the last six months of my Blue (revolving, not charge) statements, but since I never had balances post, I can't find a due date to see what's typical for the revolvers.

Any Zync members here? When are your statement dates, and when are your due dates? How about any revolvers?

eta: TheCreditKid beat me to it while I was trying to find an old due date.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 05:12:22 GMT

@haulingthescoreup wrote:
Hmmm, 12 days doesn't seem all that bad, especially if you do online payments, although it is a bit short-ish, I guess. We used to have a sticky up here with the Credit Card ACT provisions, but I can't find it now. (Old news and all.)

One spooky thing that AmEx told me when I got my Gold was that the due date was just a suggestion, and that as long as I paid by the next statement date, I'd be fine. Needless to say, I ignored that one.

I just checked the last six months of my Blue (revolving, not charge) statements, but since I never had balances post, I can't find a due date to see what's typical for the revolvers.

Any Zync members here? When are your statement dates, and when are your due dates? How about any revolvers?

eta: TheCreditKid beat me to it while I was trying to find an old due date.
Zync member here, the due date seems to be pretty short to me. What I was told that the due date is actually longer than 12 days, the 12 days is actually the suggested date. I asked them " what happened if I don't pay by the suggested date?" CSR response " Then we will have to freeze the account until the payment is actually made by the due date". Yeah its confusing( I'm confused too) or the CSR can be wrong. To make my life easier, I just make an online payment when the statement closes.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 05:19:53 GMT

It appears that Amex provides much more time for revolving vs charge products:

Blue (Me)

Closing Date: August 28
Payment Due: September 22
Days: 25

Zync (Wife)
Closing Date: September 20
Payment Due: October 5
Days: 15

Though, I wonder if Amex provides longer grace periods for people with better credit profiles.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 05:19:00 GMT

All grace period should be equal. The grace period for charge card I believe is actually longer but what you see online is the suggested date so it seems shorter.

@Anonymous wrote:
It appears that Amex provides much more time for revolving vs charge products:

Blue (Me)
Closing Date: August 28
Payment Due: September 22
Days: 25
Zync (Wife)
Closing Date: September 20
Payment Due: October 5
Days: 15

Blue (Me)
Closing Date: August 28
Payment Due: September 22
Days: 25

Zync (Wife)
Closing Date: September 20
Payment Due: October 5
Days: 15

Though, I wonder if Amex provides longer grace periods for people with better credit profiles.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 08:34:43 GMT

The new law states that "Statements must be mailed at least 21 days ahead of when they are due." So I don't see how they can legally have the due date so close to the statement date.

The fact that they call it a charge card does not change anything. It is still a credit card that is due in full each month.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Wed, 22 Sep 2010 09:56:07 GMT

My statement cut on the 20th and my due date was going to be on the 5th. I paid in full before my statement cut so when I receive my statement it had no due date on it. I had called CS about the due date when I read about the same topic in this forum.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Tue, 16 Nov 2010 17:29:31 GMT

Things charged on the closing date will be on the current statement or the next statement? For instance mine is the 17th, will things I carge reflect on the bill to be paid 2 weeks after or, the next bill?

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Xercien — Tue, 16 Nov 2010 18:05:40 GMT

Zync

Statement - 8th

Due - 23rd

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

Anonymous — Tue, 16 Nov 2010 18:42:42 GMT

My question is are charges made on the closing date going to reflect on that statement, or on the next statement?

@Anonymous wrote:
Things charged on the closing date will be on the current statement or the next statement? For instance mine is the 17th, will things I carge reflect on the bill to be paid 2 weeks after or, the next bill?

I would like to make a charge and don't want it to post with a high util just because I charged something on or close to the closing date.

Re: CLOSING DATE AND DUE DATE QUESTION ABOUT AMEX ZINC

haulingthescoreup — Tue, 16 Nov 2010 21:22:17 GMT

@Anonymous wrote:
My question is are charges made on the closing date going to reflect on that statement, or on the next statement?
@Anonymous wrote:
Things charged on the closing date will be on the current statement or the next statement? For instance mine is the 17th, will things I carge reflect on the bill to be paid 2 weeks after or, the next bill?
I would like to make a charge and don't want it to post with a high util just because I charged something on or close to the closing date.

I would never count on a charge that was made on the closing date not getting included.

Or to get rid of all the double negatives , I would be ready to see any charges made on the closing date show up on that date's statement.

If you charge the day before, I would fully expect it to show up. It doesn't always, but it often does. I generally stop using my cards 4 days before I expect the statement to post. So my AmEx statements hit on the 20th, and I stop using the card on the 16th.

If you don't want something to be included on a given month's statement, wait until the day after the statement drops, go online and look at it to see that it really is a new statement, and then go shopping.