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AMEX Gold payment change

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Frequent Contributor

AMEX Gold payment change

So today I went to check on my Amex Gold.

Statement cut last night and my balance was 500 but my payment due was 72.00

I thought Amex Gold was always a due in full on say 14th date.

 

So did Amex change the way we pay.

Or did they put me on Plan It program.

Message 1 of 15
14 REPLIES 14
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Community Leader
Mega Contributor

Re: AMEX Gold payment change

You have to request a plan it. Is the balance still pending?







Message 2 of 15
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Frequent Contributor

Re: AMEX Gold payment change

Thats the funny part I never requested plan it.

balance has posted.

Message 3 of 15
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Regular Contributor

Re: AMEX Gold payment change

There is no such thing as Plan It on a Amex charge card.

 

Likely you auto qualified for Pay Over Time Direct which automatically moves charges over $100 to the pay over time balance. Pay off the entire balance, the interest rate on pay over time is ridiculious.

Message 4 of 15
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Valued Contributor

Re: AMEX Gold payment change


@PDXoriginal wrote:

There is no such thing as Plan It on a Amex charge card.

 

Likely you auto qualified for Pay Over Time Direct which automatically moves charges over $100 to the pay over time balance. Pay off the entire balance, the interest rate on pay over time is ridiculious.


I have POT on my Gold and just recently, I got a notice that everything, no matter the amount, will get put in POT *unless* you opt out of it. Also, in doing that, they charge interest immediately instead of waiting till the next statement cuts. 

 

If you have POT on your card, it won't affect it, just the smaller charges under 100.





Okay, I tried... Code wouldn't cooperate. Tried for 3 hours!!!
CapOne WMTMC 10K
AMEX GREEN NPSL
AMEX ED 26.1K
Message 5 of 15
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Frequent Contributor

Re: AMEX Gold payment change

They are annoyingly pushing Pay Over Time Direct which is likely what caused this. You can simply call into member services to have the feature disabled.

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Message 6 of 15
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Super Contributor

Re: AMEX Gold payment change


@Gardener76 wrote:

@PDXoriginal wrote:

There is no such thing as Plan It on a Amex charge card.

 

Likely you auto qualified for Pay Over Time Direct which automatically moves charges over $100 to the pay over time balance. Pay off the entire balance, the interest rate on pay over time is ridiculious.


I have POT on my Gold and just recently, I got a notice that everything, no matter the amount, will get put in POT *unless* you opt out of it. Also, in doing that, they charge interest immediately instead of waiting till the next statement cuts. 

 

If you have POT on your card, it won't affect it, just the smaller charges under 100.


While they did change the method, where all charges over $100 go into a new subtotal section on the first page of the Charge card statement, that does not immediately begin charging interest.  I have both Platinum and Gold, each is set on autopay to pay the New Balance, and that works the same way, to pay all statement charges. Only if you pay something less than the New Balance does interest begin on that carried Pay Over Time amount. That POT interest rate is so onerous that one should not go more than a month or two before catching it up again.  

 

Having the two subtotal sections of the first page is the same format as Revolvers where one might have a Plan It balance.  The Plan It eligible charges still need to be identified and accepted for the Plan It offer fees to begin.  

High Bal Jan 2009 $116k on $146k limits 80% Util.
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April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 7 of 15
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Moderator

Re: AMEX Gold payment change


@NRB525 wrote:

@Gardener76 wrote:

@PDXoriginal wrote:

There is no such thing as Plan It on a Amex charge card.

 

Likely you auto qualified for Pay Over Time Direct which automatically moves charges over $100 to the pay over time balance. Pay off the entire balance, the interest rate on pay over time is ridiculious.


I have POT on my Gold and just recently, I got a notice that everything, no matter the amount, will get put in POT *unless* you opt out of it. Also, in doing that, they charge interest immediately instead of waiting till the next statement cuts. 

 

If you have POT on your card, it won't affect it, just the smaller charges under 100.


While they did change the method, where all charges over $100 go into a new subtotal section on the first page of the Charge card statement, that does not immediately begin charging interest.  I have both Platinum and Gold, each is set on autopay to pay the New Balance, and that works the same way, to pay all statement charges. Only if you pay something less than the New Balance does interest begin on that carried Pay Over Time amount. That POT interest rate is so onerous that one should not go more than a month or two before catching it up again.  

 

Having the two subtotal sections of the first page is the same format as Revolvers where one might have a Plan It balance.  The Plan It eligible charges still need to be identified and accepted for the Plan It offer fees to begin.  


+1

 

I have pay over time direct, and I've also never had any issues with interest.  I simply pay the total balance in full, and ignore the lower amount.  I do like having the option in the event of an emergency, though.

 

I only wish I had waited for a MR offer to add it... LOL.  I was so excited to be offered POT at the time my new card was activated that I quickly accepted without hesitation. 

Message 8 of 15
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Valued Contributor

Re: AMEX Gold payment change


@UncleB wrote:

@NRB525 wrote:

@Gardener76 wrote:

@PDXoriginal wrote:

There is no such thing as Plan It on a Amex charge card.

 

Likely you auto qualified for Pay Over Time Direct which automatically moves charges over $100 to the pay over time balance. Pay off the entire balance, the interest rate on pay over time is ridiculious.


I have POT on my Gold and just recently, I got a notice that everything, no matter the amount, will get put in POT *unless* you opt out of it. Also, in doing that, they charge interest immediately instead of waiting till the next statement cuts. 

 

If you have POT on your card, it won't affect it, just the smaller charges under 100.


While they did change the method, where all charges over $100 go into a new subtotal section on the first page of the Charge card statement, that does not immediately begin charging interest.  I have both Platinum and Gold, each is set on autopay to pay the New Balance, and that works the same way, to pay all statement charges. Only if you pay something less than the New Balance does interest begin on that carried Pay Over Time amount. That POT interest rate is so onerous that one should not go more than a month or two before catching it up again.  

 

Having the two subtotal sections of the first page is the same format as Revolvers where one might have a Plan It balance.  The Plan It eligible charges still need to be identified and accepted for the Plan It offer fees to begin.  


+1

 

I have pay over time direct, and I've also never had any issues with interest.  I simply pay the total balance in full, and ignore the lower amount.  I do like having the option in the event of an emergency, though.

 

I only wish I had waited for a MR offer to add it... LOL.  I was so excited to be offered POT at the time my new card was activated that I quickly accepted without hesitation. 


I had the Platinum first, then they approved me for the PRG. Soon after, couple months or so, they gave me POT on the PRG but refused it on the Platinum. That irritated me! Anyways, when I initially got the notification of the Direct thing, I looked at it and thought "Are they turning this into a revolver?". I dug deep and discovered that they want to charge interest earlier and I went "NOPE", opted out of that uberfast! I like the POT, but I'm not paying their interest on crap that costs $5...

 

PRG = New Gold





Okay, I tried... Code wouldn't cooperate. Tried for 3 hours!!!
CapOne WMTMC 10K
AMEX GREEN NPSL
AMEX ED 26.1K
Message 9 of 15
Highlighted
Moderator

Re: AMEX Gold payment change


@Gardener76 wrote:

@UncleB wrote:

@NRB525 wrote:

@Gardener76 wrote:

@PDXoriginal wrote:

There is no such thing as Plan It on a Amex charge card.

 

Likely you auto qualified for Pay Over Time Direct which automatically moves charges over $100 to the pay over time balance. Pay off the entire balance, the interest rate on pay over time is ridiculious.


I have POT on my Gold and just recently, I got a notice that everything, no matter the amount, will get put in POT *unless* you opt out of it. Also, in doing that, they charge interest immediately instead of waiting till the next statement cuts. 

 

If you have POT on your card, it won't affect it, just the smaller charges under 100.


While they did change the method, where all charges over $100 go into a new subtotal section on the first page of the Charge card statement, that does not immediately begin charging interest.  I have both Platinum and Gold, each is set on autopay to pay the New Balance, and that works the same way, to pay all statement charges. Only if you pay something less than the New Balance does interest begin on that carried Pay Over Time amount. That POT interest rate is so onerous that one should not go more than a month or two before catching it up again.  

 

Having the two subtotal sections of the first page is the same format as Revolvers where one might have a Plan It balance.  The Plan It eligible charges still need to be identified and accepted for the Plan It offer fees to begin.  


+1

 

I have pay over time direct, and I've also never had any issues with interest.  I simply pay the total balance in full, and ignore the lower amount.  I do like having the option in the event of an emergency, though.

 

I only wish I had waited for a MR offer to add it... LOL.  I was so excited to be offered POT at the time my new card was activated that I quickly accepted without hesitation. 


I had the Platinum first, then they approved me for the PRG. Soon after, couple months or so, they gave me POT on the PRG but refused it on the Platinum. That irritated me! Anyways, when I initially got the notification of the Direct thing, I looked at it and thought "Are they turning this into a revolver?". I dug deep and discovered that they want to charge interest earlier and I went "NOPE", opted out of that uberfast! I like the POT, but I'm not paying their interest on crap that costs $5...

 

PRG = New Gold


To confirm the two posts prior to this, being enrolled in POT does not mean that you will start paying interest, unless you do not pay the statement balance in full prior to the following due date.  Balances that are automatically placed into POT do not begin accruing interest until the next statement generates.  Unlike revolving credit cards, having a balance in POT does not cause you to lose your grace period on new purchases, which is similar to how Plan It works except that the balance will accrue interest at your card's APR rather than with a set monthly fee.  Between two charge cards, I carried nearly a $50k POT balance for YEARS at 14.x%, but one of those was my daily driver so I can certainly speak from experience on this one.

Message 10 of 15
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