topic Re: Incorrect AMEX reporting? in Credit Cards

Incorrect AMEX reporting?

Anonymous — Tue, 24 Dec 2013 02:58:28 GMT

I recently bought an item for $17.22 and it shows on AMEX's website that I only have $1982 credit left.... The balance hasn't posted, so I was wondering if I should let AMEX know..

Re: Incorrect AMEX reporting?

Anonymous — Tue, 24 Dec 2013 03:00:53 GMT

@Anonymous wrote:
I recently bought an item for $17.22 and it shows on AMEX's website that I only have $1982 credit left.... The balance hasn't posted, so I was wondering if I should let AMEX know..

What is your total credit line? If it's $2000, and you spent $17.22 then it looks ok

Re: Incorrect AMEX reporting?

Anonymous — Tue, 24 Dec 2013 03:05:06 GMT

@Anonymous wrote:
@Anonymous wrote:
I recently bought an item for $17.22 and it shows on AMEX's website that I only have $1982 credit left.... The balance hasn't posted, so I was wondering if I should let AMEX know..
What is your total credit line? If it's $2000, and you spent $17.22 then it looks ok

Yeah, total credit line is $2000. Shouldn't my credit line remaining be $1982.78?

Re: Incorrect AMEX reporting?

myjourney — Tue, 24 Dec 2013 03:06:50 GMT

Amex rounds the number up or down

Re: Incorrect AMEX reporting?

FinStar — Tue, 24 Dec 2013 03:53:58 GMT

@myjourney wrote:
Amex rounds the number up or down

Rounding, especially on a pending transaction. A variety of lenders do this, it's normal.

Re: Incorrect AMEX reporting?

Pat94108 — Tue, 24 Dec 2013 05:35:45 GMT

Yeah they will round it up. They will never report the cents. Chase does the same, I believe. Capital One doesn't if I am not mistaken.

Re: Incorrect AMEX reporting?

FinStar — Tue, 24 Dec 2013 05:43:03 GMT

@Pat94108 wrote:
Yeah they will round it up. They will never report the cents. Chase does the same, I believe. Capital One doesn't if I am not mistaken.

IME, Chase reports the cent values and so does BOA/FIA, Barclays and Citi on pending transactions (most do so nowadays). I can't recall at the moment whether Capital One does.

Re: Incorrect AMEX reporting?

Pat94108 — Tue, 24 Dec 2013 05:46:17 GMT

@FinStar wrote:
@Pat94108 wrote:
Yeah they will round it up. They will never report the cents. Chase does the same, I believe. Capital One doesn't if I am not mistaken.
IME, Chase reports the cent values and so does BOA/FIA, Barclays and Citi on pending transactions (most do so nowadays). I can't recall at the moment whether Capital One does.

Yes, you are right. I just logged in my account Chase does. Capital One does as well so Amex is one of the few who doesn't report the cent value.

Re: Incorrect AMEX reporting?

FinStar — Tue, 24 Dec 2013 05:58:18 GMT

@Pat94108 wrote:
@FinStar wrote:
@Pat94108 wrote:
Yeah they will round it up. They will never report the cents. Chase does the same, I believe. Capital One doesn't if I am not mistaken.
IME, Chase reports the cent values and so does BOA/FIA, Barclays and Citi on pending transactions (most do so nowadays). I can't recall at the moment whether Capital One does.
Yes, you are right. I just logged in my account Chase does. Capital One does as well so Amex is one of the few who doesn't report the cent value.

I thing the distinction may derive when you swipe the card and the lag time it takes for some lenders to display the pending transactions, then that's where some of the rounding may play part (before it eventually displays as a pending transaction with the cents). However, the great majority merchants and POS terminals are able to process transactions relatively fast so the majority of pending transactions end up processing right away displaying the full amount in most cases.