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Things are bound to change; that's why we're constantly picking your Amex brain while things are still fresh!
Also, @Revelate thank you for supporting public radio.
@Anonymous wrote:You are getting Select & Pay Later, and The Extended Payment Option mixed up.
Select & Pay Later is the base feature that is automatically activated on an eligible account. This is not something that you can opt in or out of. This gives you the option to call customer service and ask to move eligible charges into a Pay Over Time balance. There never has been, nor ever will be a bonus offer associated with S&PL.
The Extended Payment Option, however, is S&PL in auto-drive. Each charge over $100 will automatically be placed into a Pay Over Time balance as long as your account remains eligible. This is something that you may be offered, and you specifically must accept because it changes the way your payments get applied to the account in accordance with the payment hierarchy described in your Cardmember Agreement. This feature is typically associated with a bonus offer of some sort.
I hope this clarifies any confusion.
I'm familiar with all three Amex extended payment options. FYI, when I go into the "pay charges over time" area in Account Services, it clearly says that I am being enrolled in the Extended Payment / Pay over Time option, and charges over $100 will automatically be moved over to the extended payment line.
The letter may have said Select and Pay Later, but I'm being given the other programs as an option. I won't be enrolling in any of them without a bonus.
@DeeBee78 this link will take you to the page where you can see which of the three you are enrolled in (and optionally enroll in any that you are not already enrolled in):
From what @Anonymous said, it seems like the Select & Pay Later option isn't one that you elect to participate in or not. But the Extended Payment Option you show in your screenshot is certainly one that you would need to agree to participate in (and I believe is the one typically targeted for bonuses), as it automatically places all charges above $100 into a POT balance.
@drboxing paying in full doesn't prevent eligible charges from automatically going to a POT balance, though. However, you do have the full grace period all the way through the next due date (previously "Please Pay By Date") to pay that balance and your minimum payment ("statement balance") without incurring interest charges. Personally, while I no longer use POT (even with the lower than my standard 16.24% offers of 9.9% they keep offering me) I love having the safety net there if I ever needed to revolve a balance again. Much better to pay 1% or less of interest for a month than to have a late payment and sour the relationship (and possibly your credit).