For Amex charge card holders: when do you pay?

[Anonymous]

im a bit new with charge cards and I'm wondering when do some of you guys prefer to pay? Any advice? Any strategies or benefits in the timing of paying your bill?

i think there's 3 choices

1. Paying your bill once you get it which is a day or two or very soon right after the statement cuts

2 paying it on or close to the "please pay by" which is 15 days after your statement cuts and which is midway before the next statement. 

3. Paying it right before the  next statement cut which means taking advantage of nearly  the full 30 days grace period 

 I think there's pros and cons of each and I can't decide. The first option is to pay it off right when you get the statement the good part is you don't have to worry and you get the bill out the way. The bad part is you're giving up your money asap and not letting yourself hold on to the money longer for a free loan. 

However Im leaning towards the second option and even tho the "please pay by" isn't the official due date I feel like it can help you look good to the lender and it's a peace of mind just for the simple fact it does say please pay by and you're paying it by then makes me feel like you're obeying the rules. It also isn't paying too early and not border line on time towards the next statement cut date ( due date) . Just right in the middle.

the third option is paying it a day or two right before the next statement cut which means the good part is I'm taking advantage of the full grace period and allow myself to hold on to my money longer, I feel like the bad part is you never know if a payment error can happen which can make you late or maybe Amex internal scoring doesn't favor going past the unofficially" please pay by". 

Any thoughts or experiences from current charge card holders? Any help would be appreciated! Thanks. 

[mattmyFIC0]

I pay mine according to your option 2. I have also done 25 days instead of 15. I have also done multiple payments in one period. I'd rather pay early than chance something being late.

[elim]

Just before or just after statement cuts, depending on how many cards I have used that month. I always pay by the 2 week "suggested" date.

[Anonymous]

I don't use mine all the time so please pay by works. It has a statement cut that I follow close as to not burn my budget timing a large purchase incorrectly.

[OmarGB9]

I pay shortly after statement cut, except for when I want to report a zero balance (and yes I know charge card balances aren't factored into utilization; still bothers me when it's added to my overall debt, lol), then I'll pay before statement cut.

[L0RDAVENTAD0R]

I always pay mine a day or two before the statement cuts and make sure not to use it until it cuts so my statement always reads $0.

For example:

This month's statement is cutting this Monday, 1/25/2016, so I made a payment on Friday, 1/22/2016.

The "Please Pay By" date is just a suggestion and paying on that date, before it, or after it really makes no difference as long as you pay your current statement balance before it cuts. I doubt it gives you "bonus points" in American Express's internal scoring system by paying by the "Please Pay By" date.

I've been paying my PRG like this for the past two years and was invited to upgrade to the Platinum in September 2015.

Edit: spelling

[Anonymous]

I always do (almost) option 3 and have never heard a word from AmEx about it. I pay 5 days before the real due date, which is well after the pay by date, in case of payment processing issues.

[SisterGirl]

I pay mine soon as the statement closes...it's just easier for me that way !

[Anonymous]

Lol most of the time I pay mine the day after the charge hits. Lame I know.   Otherwise I pay before please pay by date.

[NoAnchoviesPlease]

I usually pay by the Please Pay By date, but it seems you have 11 days after that. 

Found a thread on Amex forums: https://community.americanexpress.com/thread/2303   https://community.americanexpress.com/message/7871#7871

that seems to back this up. 

Edited: Fixed link from a PC -- apparently the iPad didn't like it.