I've always wondered...

[Anonymous]

I know Amex charge cards have to be paid in full every month but what were to happen if you carry a balance accidentally? Is there a penalty of some sort or?

[Anonymous]

It would be reported as late.

[Anonymous]

I wondered the same thing. Do they close your account or assess a fee?

[adavis425]

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@Anonymous wrote:

I know Amex charge cards have to be paid in full every month but what were to happen if you carry a balance accidentally? Is there a penalty of some sort or?

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At some point in your Cardmembership you're offered the ability to Pay Over Time. At that point, the APR kicks in and you may carry a balance. If you carry a balance before you are offered the POT option (accidentally), you are charged a late fee (the penalty) and may be dinged on your CR. If you are charged a late fee, you'll CERTAINLY have a black mark on your internal scoring with AmEx. Some here will say that AmEx is balance adverse. I don't happen to agree with that. I typically PIF, but have carried balances with no AA. 

[newhis]

They say that the bill is due when it generates, and please pay by X date (like 15 days after cut date). Revolvers have a due date at least 20-25 days after cut date.

I set autopay for the pay by X date.

[jamesdwi]

from AMEX Web site

If you pay late, the fee will be $25 or $35 if you make another late payment in the following six billing periods. However, if you don't pay for two billing periods in a row, the late fee will be the greater of $35 or 2.99% of the past due amount.

will possibly impact your internal score, and who knows how that will impact you.