I've had nine different plans spread out over two AMEX cards for a few months before paying them completely off. They don't care. As long as you make all your payments on time and stay under your Pay Over Time limit. Just remember that if you are going to use your Pay Over Time feature, that you DO NOT pay off anything before your statement closes.
Last update: 4/8/2024
@TheRedHat wrote:I've had nine different plans spread out over two AMEX cards for a few months before paying them completely off. They don't care. As long as you make all your payments on time and stay under your Pay Over Time limit. Just remember that if you are going to use your Pay Over Time feature, that you DO NOT pay off anything before your statement closes.
Curious as to why you advise not paying off anything before statement closes.
I've commented on this topic many times in the past. It seems whether it throws up a red flag is dependant on your profile. In my case, I paid in full for 2 years on all my Amex and I have a dirty profile. Been unable to get a CLI on my Delta cards. Thought I would shake things up by setting up a plan. Paid it off in 2 months because it made me uneasy. My feelings were right. Amex gave me a hard limit on my gold within a month or so. I'd have to look it up because I don't remember the dates exactly, but made 70k and I believe I had no debt at the time other than my car loan iirc. I believe it threw up a red flag and the computer took AA thinking I might be under financial strain. There are others on here that had a similar experience. There's also many others that have used it without any issues whatsoever. Those that have had AA had less than stellar credit which leads me to believe that any negative reaction is profile dependant.
@SouthJamaica wrote:
@TheRedHat wrote:I've had nine different plans spread out over two AMEX cards for a few months before paying them completely off. They don't care. As long as you make all your payments on time and stay under your Pay Over Time limit. Just remember that if you are going to use your Pay Over Time feature, that you DO NOT pay off anything before your statement closes.
Curious as to why you advise not paying off anything before statement closes.
Because if you pay more than the adjusted balance to pay down non-plan charges, the excess goess to the plans. For example, if you have 500 in plans and charge an additional 500. Your adjusted balance could be 100 plus the plan payments and fees. If you paid an additional 400 for the rest of the non-plan balance before statement close, it would instead pay down your plans to 100 and your next bill would be 400, plus new charges, plan payments and fees. This is actually one of the reasons I paid my plan early. I didn't realize this would happen and ended up with a 1300 bill, thinking I had paid off my non-plan charges. At that point I just paid everything off a couple of weeks after paying the bill.