Amex CC do NOT like minimum payments

[Anonymous]

Got my Amex paper statement today for my Blue and it has cardmember agreement changes- the biggest one is that it says if you pay the min payment too many times they can "up" the amount of the min payment- but something about it will only be for a six mos period and then they will stop if you start to pay more than min-

I have never paid min w/ Amex always more- just wanted to let folks out there know this cardmember change- I already shredded the change so can't write it verbatim but what I just posted is the gist-

Basically from my experience w/ Amex they always like more than the min payment- charge a decent amount, pay it off over time more than min...charge a decent amount, repeat the cycle and you can have decent CLI's if you follow that model...

[Anonymous]

I would rather see it spelled out in the T&Cs thanto have somerandom Adverse action without explanation.  At least they are giving their consumers a clear cut picture of how they want you to play the game.

[Anonymous]

That's why I really like Amex. It was in bold type saying something like "Cardmember Agreement Change- effective Nov 07"

that is why I really like them...I just think they are on top of the ball...

[CreditDrama85]

this is why once i get my great credit score back i will never carry amex again. they do whatever the hell they please.

DISCOVER rocks!

[Anonymous]

I hope you didn't have a bad experience w/ them- I love Amex. I think it is fair that they sent the info in the statement- and in bold print to draw my attention.

I have read things on this board about other actions of CC cos. doing stuff and the cardmember was never aware.

But I do agree w/ you also about Discover rocks. Amex and Discover are my favs. now.

[Anonymous]

I have a green amex card.  I don't see anything for minimum payments.  I just always thought you had the pay the whole thing in full every month.

[Anonymous]

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typist wrote:

I have a green amex card.  I don't see anything for minimum payments.  I just always thought you had the pay the whole thing in full every month.

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the card you haveis not a credit but a charge card, reqiring payment in full on a monthly basis.

[Anonymous]

Isn't the green a Charge Card and not a CC? Those you must PIF each month right? Although I read something on the board about the Gold Charge card adding the option of revolving some of your debt, however, for convenience, I would keep my charge cards- working like charge cards, and CC's like CC's. Wouldn't want to mix.

I watch everything down to the dime- but at this point in time in my life I am not to the level where a charge card fits in my life anyway.

[CreditDrama85]

yes, i did have a bad experience with amex. i had 3 charge accts with them that had the revolving option. i always pd more than the minimum BUT received a letter after years of having this service saying to pay my balance at once and that i was no longer offered that option.

i couldnt pay all balances in 1 month, so the accts were "paid acct, was a charge-off" closed by consumer.

i learned a valuable lesson. (btw i had perfect history and had never been late before this)

[Anonymous]

Wow. What was their justification for this?