@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%.
Take it!
I did. Yeh the APR is not good but hey at least you have the option to extend any charge of $100 on your PRG.
Do it before they take it away. BTW congrats on your new PRG card. 
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@-Cal- wrote:
@Anonymous wrote:
@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.
+1 - Its a trap!
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.
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.
Longtime, now you're making OP paranoid. Where is your proof that just because someone selects this POT option, they will be FR'd?
Secondly, you don't get charged interest UNTIL YOU DESIGNATE which charges over $100 you want to extend. If not, the customer will just pay off the PRG off to zero as usual and move onto the next month.
It's still a charge card - Amex is just giving you the option to use your card on "certain" charges like any other 18% or higher APR (i.e. Cap One)
I heard it from a guy in a bar whose friend's cousin knew someone who worked in Amex FR department. Or you could reread my comment and think about the meaning of "myth" and "wear a non-matching tie" etc.
Re grace period: Interest starts accruing only from the date of designation rather than posting date? Then that is good.
Always the best source. Sounds like a cool offer but I kinda feel like it defeats the purpose of applying for a charge card.
@selena wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@-Cal- wrote:
@Anonymous wrote:
@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.
+1 - Its a trap!
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.
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.
Longtime, now you're making OP paranoid. Where is your proof that just because someone selects this POT option, they will be FR'd?
Secondly, you don't get charged interest UNTIL YOU DESIGNATE which charges over $100 you want to extend. If not, the customer will just pay off the PRG off to zero as usual and move onto the next month.
It's still a charge card - Amex is just giving you the option to use your card on "certain" charges like any other 18% or higher APR (i.e. Cap One)
I heard it from a guy in a bar whose friend's cousin knew someone who worked in Amex FR department. Or you could reread my comment and think about the meaning of "myth" and "wear a non-matching tie" etc.
Re grace period: Interest starts accruing only from the date of designation rather than posting date? Then that is good.
Just thing of the AMEX PRG w/POT Option = Hybird Car The best of both worlds.
