No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@UncleB wrote:I got a letter a few weeks ago from American Express with an update on some of the fine-print on my PRG, and honestly I didn't think too much of it. However my latest billing statement served as a reminder to go back and check things out, and I found something that might be notable to some people.
Historically, American Express charge cards (Green, Gold/PRG, Platinum, etc.) have had a "Please pay by" date rather than a due date. It's been common knowledge that you could safely ignore this 'suggestion' and as long as they got the payment before the new statement closed you would be fine.
Apparently that's changing January 2017.
The language from the letter states (among other things)...
Effective January 1, 2017 you must pay at least the Minimum Payment Due no later than the Payment Due Date to avoid a late payment fee. We are also removing from this section the sentence that reads "Each Statement also shows a Next Closing Date".
This is the "reminder" on my bill:
I'm actually OK with this as long as they will let us change the due date, since my current "Please Pay By" date is about a week before payday. In the past this wasn't a problem since there was some 'flexibility', but if the new "Payment Due Date" is the same this could restrict how and when I use my PRG.
I'm posting this here so that if anybody missed the notice they won't get hosed up in January if their payment date changes.
(Note that part of the letter was decicated to explaining a change to the MR program; apparently effective January 1, 2017 it will be possible to have a negative MR point balance in the event of a return or a clawback that is greater than your MR point balance. I always assumed this was the case before... apparently it wasn't, though.)
Edited to add: Disclaimer - I'm writing assuming that these changes aren't unique to me but are global, but there's always the chance they are rolling this out more slowly. There's also the slight chance I am singled out, but I don't think that is the case. If you're in doubt and this change would impact you, you might consider reaching out to an Amex CSR directly for clarification.
Thanks for the info, Uncle B... I usually don't read that stuff, so I'm glad you pointed it out.
I also noticed that advisory on my last statement, maybe they are doing this because of the confusion that the please pay by date caused.
@Discover2016 wrote:I also noticed that advisory on my last statement, maybe they are doing this because of the confusion that the please pay by date caused.
That's my thinking as well... and looking at it from that angle it's really not a negative. Personally, as long as I'm aware of the change I can work with it in any case.
Also, thanks for sharing that you noticed it on your last statement as well... I was beginning to wonder if I was the only one!
Sometimes it's nice to be 'special'... this isn't one of those times... LOL.
@Anonymous wrote:
We can change your due date once this goes into force to align with your preferences
This ^^^ is music to my ears... in this case, there's no problem at all.
Thanks as always, Pooka... coming to the rescue once again!
@driftless wrote:
My PRG statement cuts on ~ 25th and I have had a please pay by date of the 11th. I just paid my balance the other day and today I see that the please pay by date has been replaced by a due date. I used the chat module to talk to CSR asking that due date be changed to the 17th from the 11th. The CSR informed me that the please pay by date is still in effect through the end of the year and that she would change it effective in January.
+1
This is good to hear and goes along with what Pooka said above. Once we're into January I plan to reach out to them to have my own date changed as well.
With a "real" due date that is workable I'm actually quite OK with the change.
Thanks for the info, although the January time period should see a change to the expected payment date.
Having a hard Payment Due date the same as what is Please Pay By right now, would not work. I'm guessing it pushes out to align with credit card cycle timing, just before the statement close date.
@NRB525 wrote:Thanks for the info, although the January time period should see a change to the expected payment date.
Having a hard Payment Due date the same as what is Please Pay By right now, would not work. I'm guessing it pushes out to align with credit card cycle timing, just before the statement close date.
+1
I suspect this will be what happens as well (it makes perfect sense), but I'm pleased to hear that they'll be able to adjust it in any case. It will be nice to have my Amex cards with the same due date "officially" for the first time.