AMEX Pay over Time

[californiaboy935]

Hey guys, I've never been offered, and cant get Pay Over Time when I call. I have 1.2 Years of Credit history with Amex Platinum with no Late or Missed Payments. First year spend of 220,000 in Payed In Full card charges. What ca I do? 

Totally mistified by this...

[FinStar]

You're likely not on AmEx's radar for that type of feature. It's possible it *may* be offered in the future. That said, if you're cycling upwards of >$30K per month on the card, it's kind of a moot point, no?

Also, this is not something that can be requested. AmEx would offer the POT feature if your account qualifies, sometimes MR points may be offered as an incentive for some customers to sign up.

[WillTeasle]

I think they tend to offer POT at about the one-year mark.  My plat is about 1 year old and I just received the offer and 10k MR to activate.  Don't plan on using but wanted the free MR.  Possibly the amount of spend you put on the card is your problem.

[Anonymous]

I had it added to my account recently. No bonus, no choice.

I have two Amex revolvers with 0% interest, but sure, I'll pay 20% interest so the cashier can be impressed with platinum.

[Watchmann]

I've got a $35,000 POT limit on my Gold Card which I've had continually since 1980, but I've never used the feature because the interest rate is horrendous, 26.74% as of last month.  My FICO scores are in the 775 range, who is crazy enough to pay that kind of interest rate when far cheaper loans are available elsewhere?  I don't know how many takers they get for this feature but it is zero use to me.

[Anonymous]

Mine is $10,000, but 19.74%

When I had the Gold my POT was $35,000 at 19.74 - that card got a lot more spend.

The "Plan It" on my Delta Gold  is only 12.6% So even within Amex I have three better options than Platinum POT

[Remedios]

OP, one question, what's on EX and TU that's not present on EQ?
Rest of your Amex cards have relatively low limits, especially if we go by the income you listed in your approval thread.
If you have any negatives, Amex tends to hold a tight leash, even when large spend is present.
Discover and Apple didn't exactly opened up the purse, so it looks like negatives might be present, maybe even short credit history.
Just making a guess here

[K-in-Boston]

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@Watchmann wrote:

I've got a $35,000 POT limit on my Gold Card which I've had continually since 1980, but I've never used the feature because the interest rate is horrendous, 26.74% as of last month.  My FICO scores are in the 775 range, who is crazy enough to pay that kind of interest rate when far cheaper loans are available elsewhere?  I don't know how many takers they get for this feature but it is zero use to me.

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POT didn't get added until much much later though, right?   I thought it was a brand new feature just introduced when it was added to my charge cards around 2004 or 2005.  The APR is quite variable person to person though.  Mine are in the 16s on both charge cards and were at or just below 14% before the Fed increases the past few years.  I'm one of those "crazies" that carried large balances for many years on them.

[californiaboy935]

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@Remedios wrote:
OP, one question, what's on EX and TU that's not present on EQ?
Rest of your Amex cards have relatively low limits, especially if we go by the income you listed in your approval thread.
If you have any negatives, Amex tends to hold a tight leash, even when large spend is present.
Discover and Apple didn't exactly opened up the purse, so it looks like negatives might be present, maybe even short credit history.
Just making a guess here

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No negatives but only 14 months of history. My credit goes from 715-769 some months just based on when Amex posts the 30k balance... so its damned if you do damned if you dont. 

[Remedios]

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@californiaboy935 wrote:

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@Remedios wrote:
OP, one question, what's on EX and TU that's not present on EQ?
Rest of your Amex cards have relatively low limits, especially if we go by the income you listed in your approval thread.
If you have any negatives, Amex tends to hold a tight leash, even when large spend is present.
Discover and Apple didn't exactly opened up the purse, so it looks like negatives might be present, maybe even short credit history.
Just making a guess here

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No negatives but only 14 months of history. My credit goes from 715-769 some months just based on when Amex posts the 30k balance... so its damned if you do damned if you dont. 

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That's not quite possible if you're talking about platinum.  

Charge cards are not included in utilization calculations.