AMEX PRG

[Anonymous]

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

[icyhot]

Game changer :-D I heard they've allowed this for a while

[Anonymous]

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

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Don't use it.  

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

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Don't use it.  

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I have no intentions to. However I thought this was something that was offered from time to time.

[JustBPatient]

+1

[-Cal-]

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@Anonymous wrote:

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

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Don't use it.  

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+1 - Its a trap!

[joedtx]

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@-Cal- wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

---

Don't use it.  

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+1 - Its a trap!

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+2

[Anonymous]

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@-Cal- wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

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Don't use it.  

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+1 - Its a trap!

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I was offered this too. Could anyone please elaborate as to why is it a trap and what they want to see from this? I am sure there has to be a reason behind it.

[takeshi74]

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

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Carefully read up on it.  POT does not make it a credit card.  There's no grace period with this.

[Anonymous]

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@Anonymous wrote:

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@-Cal- wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I go to activate my AMEX PRG and I receive this option during activation. So much for a charge card.

Yes, I'd like the option to pay over time for eligible purchases of $100 or more. Enroll me in the Extended Payment Option.

There's no fee to enroll.

Eligible purchases will be clearly identified on your statement. Your eligible purchases of $100 or more will be added to a separate balance, which you can pay in full or over time.

You can pay the charges in full, pay the minimum amount due or pay anything in between.

You'll only pay interest charges on purchases that are eligible to be paid over time. The Annual Percentage Rate is currently 18.24%.

---

Don't use it.  

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+1 - Its a trap!

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I was offered this too. Could anyone please elaborate as to why is it a trap and what they want to see from this? I am sure there has to be a reason behind it.

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The trap idea is one of many myths, basically Amex will FR you if you use Pay Over Time (or carry a balance too long on a credit card, use the "Check Spending Ability" button too much, wear a non-matching tie etc).  The reason not to use it is that the APR is high and there is no grace period.