AMEX Charge Card Late Payment

[missindependent]

So I got myself into some crap.....

I will be 14 days late on my AMEX charge card as of the 25th. I owe $1,000 from my statement that was due on August 8th. The total balance is around $2500. AMEX suspended my charging privileges until I'm current. My paycheck on the 25th will be $1,100.

Should I pay the remaining balance on the 25th and continue to charge my expenses on to the card (once they allow my charging privileges) OR close my AMEX account and pay off what I can (and screw up my credit)? I keep getting into trouble with this card and I'm in the process of starting Dave Ramsey's baby steps. 

BTW, I only make around $2,200 a month. 

Any advice is appreciated  

[K-in-Boston]

Pay it before the next statement cuts! The 30 day late WILL screw up your credit. If you can't trust yourself to pay it, cut it up. Don't know enough about your profile to recommend closing it or not.

[Anonymous]

If it were me I would beg an borrow to pay Amex the money I owe then I would cut up the card.

[missindependent]

**bleep**, the statement cut yesterday.

[Anonymous]

Return anything you bought on the card that's in the return date.  Sell other things so you can pay it off in full.

A 30 day late will haunt you for years.  It can also cause other creditors to AA you and lower credit limits or close accounts.

Not everyone has the responsibility to handle a charge card -- you might be better off with a revolver but then you'll be paying interest.

[K-in-Boston]

No, the next statement. Don't panic! If your due date was August 8th, you will get the slap on the wrist from Amex but they won't report it to the CBs as 30 days past due until your next statement cuts.

[missindependent]

Okay, so the payment was due on the 8th and the new statement cut yesterday? Is it 30 days late from the actual due date? If so, I am still within range (17 days late).

[Discover2016]

---

@missindependent wrote:

So I got myself into some crap.....

I will be 14 days late on my AMEX charge card as of the 25th. I owe $1,000 from my statement that was due on August 8th. The total balance is around $2500. AMEX suspended my charging privileges until I'm current. My paycheck on the 25th will be $1,100.

Should I pay the remaining balance on the 25th and continue to charge my expenses on to the card (once they allow my charging privileges) OR close my AMEX account and pay off what I can (and screw up my credit)? I keep getting into trouble with this card and I'm in the process of starting Dave Ramsey's baby steps. 

BTW, I only make around $2,200 a month. 

Any advice is appreciated  

---

Sorry to hear about not being able to meet your commitment to the PRG in full, once paid off I suggest you stop using the card since it has to be paid in full every month. Amex charge cards can be dangerous unless you have the income to support its use.

[missindependent]

Thank you!!!! So you think I should pay the remaining $1,000 on the 25th and run my basic expenses on the card?

[missindependent]

Thank you my friend! I've learned my lesson this month. Basically had a panic attack over my finances this morning and I appreciate your reply.