Amex Gold Question

[Anonymous]

Hoping to get the Amex gold card soon, scores are getting close (I’m at 690 Experian) and my question is the AF due by the first 30 days? I know it’s a charge card and they have to be PIF by statement just wondering if the same goes for the AF. Never had a charge card before. 

[-Wright-]

Your annual fee will be attached to your first statement. If you spend $1,000 the first month, your first statement will be $1,250. 

For the record, I was approved for my Gold card with an Experian score of 669

[Anonymous]

So it would be due after the first statement it doesn’t fall into the pay over time does it? 

[KJinNC]

Also for the record, I got rejected for a Gold Card with an Experian score of 681, although that's at ground zero of a "thick build" with many new accounts and inquiries, and minimal account age(s).

I think you'll need to be prepared to PIF with the first statement. You probably wouldn't get the first statement for a while after getting the card, though.

[Anonymous]

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@Anonymous wrote:

So it would be due after the first statement it doesn’t fall into the pay over time does it? 

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Fees don't fall into pay over time (which you may not have at first anyway. I didn't get it for 10 months!) They also don't count as spending to your sign-up bonus.

My Platinum Card was activated March 16th. Statement closed April 15th and payment (including the annual fee) was due May 10th.

Fair warning - if you need to pay charges of a few hundred dollars over time, this is not the card for you. 

[kdm31091]

To me if you aren't prepared (or just don't want to have to) pay in full every statement, this isn't the right product for you. Pay over time is not necessarily always available. At its core, this is a charge card. Amex retains the right to decide which charges you can or cannot pay over time. Otherwise you must pay in full. If you want more flexibility a revolving product is going to be a better choice.

[Shadowfactor]

I’m going to echo the previous two responses.

If you aren’t prepared to pay the annual fee in full at the first statement close this is not the product for you.

Amex has lots of pay over time options for its charge cards but when you are offered to ability to use them is anyone’s guess.

My gold card didn’t offer POT until month 11. It was my second Amex card and first charge. I still haven’t been offered it on my Platinum card and we are just at the year mark in 2 weeks.

Amex can revoke or even not allow any charge to be placed in POT , so even if the ability is offered to you don’t bank on it. Always expect to pay every charge on a charge card in full.

Since it seems like you are looking for a card to carry a balance on, maybe you should consider a Low APR card instead. You won’t earn any rewards but rewards are useless if you are paying more in interest which is almost always the case.

[KJinNC]

I am guessing that the OP is just trying to wrap his mind around a $250 annual fee, moreso than hoping to routinely carry a balance.

[Anonymous]

Similar to another poster above, I was approved 5/27. AF was added a couple weeks ago, due as part of the first billing cycle’s payment. Payment due date is 7/2. My BCP and Hilton Ascend also had their AFs added into the first month’s spend. I would assume most cards have this as standard, but I can promise that it is the way Amex does it.

[Anonymous]

When I was approved, my first statement was about 10 days after my approval date. Annual fee showed up on that first statement.