Yesterday on my Amex Gold I paid my entire current balance in full, which along with the dining credit that happened to post showed me with a Current Balance today of -$9.99. However today I also happened to check my Pay Over Time balance and noticed it was $60.22. I am enrolled in POT Direct however I still pay in full (or at least thought I was?).
When I messaged their chat about it, the rep seemed to confirm that the Current Balance doesn't have anything at all to do with the POT balance and that I still owed $60.22. The only charge eleigible for POT posted over a week ago so it isn't like any new charges posted either.
Has anyone else experienced this? If so I feel it's kind of misleading that when you try to pay a balance there is no option that includes the POT balance. On top of all of this, I tried to pay off the remaining $60.22 and it wouldn't let me, saying I have no balance due.
Screenshots for reference:
Your chat representative seems to be mistaken. If you had a POT balance due, you would see any amount actually owed on a POT balance reflected in the Total Balance.. You said you made your payment yesterday? Sometimes it can take a day or two for everything in Amex's system to update.
@K-in-Boston wrote:Your chat representative seems to be mistaken. If you had a POT balance due, you would see any amount actually owed on a POT balance reflected in the Total Balance.. You said you made your payment yesterday? Sometimes it can take a day or two for everything in Amex's system to update.
Yes, I made the payment yesterday. I kind of suspected the rep may be mistaken in some way. I'll keep an eye on the POT balance over the next couple days and I'll report back if it goes away.
@furthur wrote:Yesterday on my Amex Gold I paid my entire current balance in full, which along with the dining credit that happened to post showed me with a Current Balance today of -$9.99. However today I also happened to check my Pay Over Time balance and noticed it was $60.22. I am enrolled in POT Direct however I still pay in full (or at least thought I was?).
When I messaged their chat about it, the rep seemed to confirm that the Current Balance doesn't have anything at all to do with the POT balance and that I still owed $60.22. The only charge eleigible for POT posted over a week ago so it isn't like any new charges posted either.
Has anyone else experienced this? If so I feel it's kind of misleading that when you try to pay a balance there is no option that includes the POT balance. On top of all of this, I tried to pay off the remaining $60.22 and it wouldn't let me, saying I have no balance due.
Screenshots for reference:
+1 to Amex taking the day+ to update
POT (and Direct in this case), looks like the $168 instacart as mentioned was rolled into the POTDirect Balance which is "different" from your regular Total/Current Balance(meaning the $168 was carried at some point), the hierarchy thing was just amex saying they allocate funds to the highest interest balances first (before Current/Total)
@elixerin wrote:+1 to Amex taking the day+ to update
POT (and Direct in this case), looks like the $168 instacart as mentioned was rolled into the POTDirect Balance which is in fact "different" from your regular Total/Current Balance, the hierarchy thing was just amex saying they allocate funds to the highest interest balances first (before Current/Total)
So i guess anything over $100 and not being PIF from statement gets automatically rolled in/moved over to the POT balance, which if you were carrying im pretty certain would show the statement balance now as an "Adjusted statement balance", which i'd assume is just that months balance + the POT balance charge/s divided by 12/6/3 months typically.. theres the plan fee and interest on it also if your not on a intro period so that's the cost, in retrospect though i think that would be the POT Select or Plan It feature i think..?
i never actually used this so if anyone could elaborate or enlighten..
With Direct anything over $100 would automatically be rolled into POT balance(if carried ofcourse), lets say the month after you pay minimum for example it will now show an Adjusted statement balance? but if you then pay the Total Balance(like OP did) does that mean that you just paid 1 month of the POT charge that was rolled in prior or everything? i would think the "Adjusted Statement Balance" is last months balance+ POT(anything over $100 that was carried)divided by 12/6/3 months with Total Balance being everything, POT balance and it's interest charges included?
Plan It and POT work quite differently. If there is a POT balance, the only difference on the balance screen would be that the minimum payment is lower than the statement balance. If no charges are in a POT balance, the minimum payment is the full statement balance. There is no adjusted balance like Plan It; the Total Balance will always include any amounts in a POT balance. There are no set number of months for repayment or plan fees for POT, any amount in there simply becomes a revolving balance subject to the POT APR if the POT balance has not been paid in full prior to the due date. With POT Travel and POT Direct, all qualifying charges go to the POT balance automatically; no interest is charged as long as the complete statement balance including charges in POT are paid in full.
@elixerin wrote:knew i had something mixed up, thanks K.
@K-in-Boston So in OP's case. He mentioned he paid Total Balance recently, wouldnt that have then included the $168 the CSR was mentioning from the POT Direct🤔 how come his TB is now $0 (or -$9.99) and POT still has a Balance remaining
Yes Total Balance would include all charges in POT balance. OP paid the full balance on the card, then received $9.99 of the $10 monthly dining credit after payment has been applied. The POT summary screen is just showing the amount of charges that were placed into a POT balance. It may take a day or two to update on that page as payment was just credited yesterday.
@elixerin wrote:knew i had something mixed up, thanks K.
@K-in-Boston So in OP's case. He had paid Total Balance recently, wouldnt that have then included the $168 the CSR was mentioning from the POT Direct🤔 how come his TB is now $0 (or -$9.99) and POT still has a Balance remaining
That's basically what I'm trying to figure out. Another complicating factor however is prior to the $168 charges I had a $900 refund which put my balance in the negative. The one thing I'm thinking, is when that refund credit hit, it didn't affect whatever was owed in the POT balance.