Amex Charge rules clarification

taxi818 · ‎10-18-2014

I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.

Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?

example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?

also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.

All on the same day??

it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.

Anonymous · ‎10-18-2014

@taxi818 wrote:
I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.
Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?
example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?
also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.
All on the same day??
it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.

Before the next statement cuts.

jsucool76 · ‎10-18-2014

@Anonymous wrote:
@taxi818 wrote:
I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.
Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?
example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?
also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.
All on the same day??
it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.
Before the next statement cuts.

Basically this.

Just like any other credit card for the most part.

Say today is the beginning of a new statement (oct 18)

You make a purchase today...

Your new statement cuts nov 18th - On this day you are told your payment is $x.xx amount. It is due on whatever date they give you, you have until then to pay them

My statement for my amex cut the 17th...my please pay by date is the 1st of november...so 15 days after my statement comes in.

taxi818 · ‎10-18-2014

@jsucool76 wrote:
@Anonymous wrote:
@taxi818 wrote:
I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.
Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?
example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?
also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.
All on the same day??
it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.
Before the next statement cuts.
Basically this.

Just like any other credit card for the most part.

Say today is the beginning of a new statement (oct 18)
You make a purchase today...
Your new statement cuts nov 18th - On this day you are told your payment is $x.xx amount. It is due on whatever date they give you, you have until then to pay them

My statement for my amex cut the 17th...my please pay by date is the 1st of november...so 15 days, plus the full statement period of 30 days

So max is 45 days in your case. Do you actually pay by November 1st?

Anonymous · ‎10-18-2014

@taxi818 wrote:
@jsucool76 wrote:
@Anonymous wrote:
@taxi818 wrote:
I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.
Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?
example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?
also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.
All on the same day??
it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.
Before the next statement cuts.
Basically this.

Just like any other credit card for the most part.

Say today is the beginning of a new statement (oct 18)
You make a purchase today...
Your new statement cuts nov 18th - On this day you are told your payment is $x.xx amount. It is due on whatever date they give you, you have until then to pay them

My statement for my amex cut the 17th...my please pay by date is the 1st of november...so 15 days, plus the full statement period of 30 days
So max is 45 days in your case. Do you actually pay by November 1st?

I try to.

taxi818 · ‎10-18-2014

I got it. Thanks. So first statement is 60 days. Then 30 days thereafter. Thank you. So I think my first statement will cut November 6th. I will have until December 6 th to pay correct. . But what about charges after my first statement cuts? Still all due by December 6 th?

jsucool76 · ‎10-18-2014

@taxi818 wrote:
@jsucool76 wrote:
@Anonymous wrote:
@taxi818 wrote:
I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.
Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?
example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?
also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.
All on the same day??
it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.
Before the next statement cuts.
Basically this.

Just like any other credit card for the most part.

Say today is the beginning of a new statement (oct 18)
You make a purchase today...
Your new statement cuts nov 18th - On this day you are told your payment is $x.xx amount. It is due on whatever date they give you, you have until then to pay them

My statement for my amex cut the 17th...my please pay by date is the 1st of november...so 15 days, plus the full statement period of 30 days
So max is 45 days in your case. Do you actually pay by November 1st?

I paid it today. The way I see it...if they tell you to pay by a certain date, you pay by then. If you aren't, it probably means you don't have enough money to pay your bill and you're overspending, or, you're not responsible enough to keep ontop of your bills. If you pass your date on a credit card from another lender, you get hit with a late payment fee. Best to just keep in the habit of paying on time.

However,There is a star next to the payment that says "Full payment is due upon receipt of your statement. We suggest you pay by the 'pay by' date"

Anonymous · ‎10-18-2014

@jsucool76 wrote:
@taxi818 wrote:
@jsucool76 wrote:
@Anonymous wrote:
@taxi818 wrote:
I am fairly new to amex. and even though i heard all the rumblings. when i got my amex green in the mail. i also got a major T and C for use. which i can take to mean them explaining how you pay and so on. without going through all the legal mumble jumble. could someone please clarify. the true meaning of paying in 30 days. i hear it all the time. put it does not make sense.
Some are saything recommeded date. others are saying 30 days from first charge . is it 60 days from the date i make a charge?
example. i go charge 300 dollars today. right now. when will i be expected to pay this thing?
also. if i charge a few items. knowing i will pay in a month. and then in 29 days make another couple charges. when is the first charges due and when are the charges from the 29th day due.
All on the same day??
it does not make sense i tell you. but i know in time i will understand. just looking for some guidance with Amex i guess. Thanks all.
Before the next statement cuts.
Basically this.

Just like any other credit card for the most part.

Say today is the beginning of a new statement (oct 18)
You make a purchase today...
Your new statement cuts nov 18th - On this day you are told your payment is $x.xx amount. It is due on whatever date they give you, you have until then to pay them

My statement for my amex cut the 17th...my please pay by date is the 1st of november...so 15 days, plus the full statement period of 30 days
So max is 45 days in your case. Do you actually pay by November 1st?
I paid it today. The way I see it...if they tell you to pay by a certain date, you pay by then. If you aren't, it probably means you don't have enough money to pay your bill and you're overspending, or, you're not responsible enough to keep ontop of your bills. If you pass your date on a credit card from another lender, you get hit with a late payment fee. Best to just keep in the habit of paying on time.

However,There is a star next to the payment that says "Full payment is due upon receipt of your statement. We suggest you pay by the 'pay by' date"

Maybe it raises your internal risk score with AMEX for paying by the suggested date. Maybe not. But are you willing to bet your credit future on that?

jsucool76 · ‎10-18-2014

@taxi818 wrote:
I got it. Thanks. So first statement is 60 days. Then 30 days thereafter. Thank you. So I think my first statement will cut November 6th. I will have until December 6 th to pay correct. . But what about charges after my first statement cuts? Still all due by December 6 th?

Amex tells you when your statement cuts

After your statement cuts, you pay by the please pay by date, in my case 15 days. So I assume it won't always be 30 days. Most credit cards are around 24 day grace period. Stop worrying about it and just treat it like any other credit card you have. It isn't any different.

taxi818 · ‎10-18-2014

Okaaay. After looking at that. will use revolver mostly. Charge for big purchase only. Then pay a couple days after the charge. Guess I will not even wait on statement on the green card. Too much pressure. Lol