Help! Trying to avoid Amex Late

[Anonymous]

I have gotten myself into a situation this month (and next) after a series of unfortunate events with my American Express Gold card. My closing date (not Due Date) is coming up on Nov 15th, where I will be around $1000 short of what I owe. In addition, I am going to be around $900 short for next months closing date of Dec 15th. From what I have read, it sounds fairly likely that this month I will face a late fee, and next month they will close my account by request of credit issuer. I can handle paying the late fee, however the latter is what I am trying to avoid. What type of suggestions do you all have? I read a similar situation online that said to open a Credit Card and balance transfer over to it to avoid repercussions with Amex. 

[Anonymous]

IMO, you should give them a call.  Will you have more money to pay by the due date?  It seems as if you're trying to PIF by the closing date, but if that's too stressful then just as long as it's paid by the due date then you will be fine.  Maybe the additional days will give you time to come up with whatever amount you're short by.

[drkaje]

There's a relatively recent thread started by someone in a similar position. Amex was pretty  cool about it and gave them time to get stuff together.

I'd say call them and work something out right now. That being said; you probably shouldn't be applying for any new cards and expect a lot of soft pulls by them over the next  year or so.

Added by edit: I'd also stop using the card.

[Anonymous]

My due date was Oct 31st, however the month closes on Nov 15th. This is, from what I've read, when Amex considers your payment officially late. 

[clocktick]

Do you have another card right now you can balance transfer to?

[Anonymous]

Yes, I have a Discover with apox. $400 available and a Delta Skymiles Amex with $850 available.

[larinoriani]

Have you called them? You should do that first and go from there to see what your real options are.

[Anonymous]

Called and the Rep told me I had until the 26th to pay in full or they would have to charge a late fee. They did thank me for calling in ahead of time to arrange something rather then waiting for them to contact me.

[andre181]

Did you ask if your account is eligible for Amex's Pay Over Time? That might help reduce the amount you have to pay.

https://www212.americanexpress.com/dsmlive/dsm/dom/us/en/phaseib/payovertime_loc_nomr.do?vgnextoid=5...

[Anonymous]

I didn't qualify for it. I'm guessing its subject to credit approval?