Making Payments AMEX vs VISA / MC

[Openwater]

One of my favorite things about AMEX is that their payments go through the instant that you pay it online. This is a great feature that I have only seen on AMEX. So I can effectively wait until the closing date and make my payment, and not worry about it processing.

VISA / MC on the other hand does not provide such luxuries. I've tried doing the same thing with their network and sometimes there is a delay in processing. Which in turn, causes a balance to cut. I usually stop spending a few days before to achieve the 0 balanace. 

I just like how I pay my card on AMEX and it shows 0 bal once I refresh. It's just nice to get that instant credit. Anyone else enjoy that feature?

On a side note, AMEX charges seem to switch from pending to posted much faster....

[redpat]

Citi is instant but I don't care and let balances post anyway.

I only pay cards the 27th of the month.

IMO azero is for the birds and have better things to do with my time.

[Saleen099]

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@Openwater wrote:

One of my favorite things about AMEX is that their payments go through the instant that you pay it online. This is a great feature that I have only seen on AMEX. So I can effectively wait until the closing date and make my payment, and not worry about it processing.

VISA / MC on the other hand does not provide such luxuries. I've tried doing the same thing with their network and sometimes there is a delay in processing. Which in turn, causes a balance to cut. I usually stop spending a few days before to achieve the 0 balanace. 

I just like how I pay my card on AMEX and it shows 0 bal once I refresh. It's just nice to get that instant credit. Anyone else enjoy that feature?

On a side note, AMEX charges seem to switch from pending to posted much faster....

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As for the last statement about AMEX charges do post fast I've been in a restaurant at five or 6 o'clock and the next day it'll show up on my bill. I don't know how they know how much I tipped but it seems that they know immediately and they put it on my bill the next day.  

[CorpCrMgr1]

Thank you for the info. You are braver than I am. I always try to pay a few days early, not going to chance it.

[Rogue46]

I have found that to be the case with Amex also, Chase also seems to post much faster then other cards I have.

Amazon is the worst, I've made double payments more then once on that account because it takes forever to credit the payment..

[nytokyobred79]

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@Saleen099 wrote:

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@Openwater wrote:

One of my favorite things about AMEX is that their payments go through the instant that you pay it online. This is a great feature that I have only seen on AMEX. So I can effectively wait until the closing date and make my payment, and not worry about it processing.

VISA / MC on the other hand does not provide such luxuries. I've tried doing the same thing with their network and sometimes there is a delay in processing. Which in turn, causes a balance to cut. I usually stop spending a few days before to achieve the 0 balanace. 

I just like how I pay my card on AMEX and it shows 0 bal once I refresh. It's just nice to get that instant credit. Anyone else enjoy that feature?

On a side note, AMEX charges seem to switch from pending to posted much faster....

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As for the last statement about AMEX charges do post fast I've been in a restaurant at five or 6 o'clock and the next day it'll show up on my bill. I don't know how they know how much I tipped but it seems that they know immediately and they put it on my bill the next day.  

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I agree with you both. And also, AMEX has an uncanny way of pushing through pending charges that appear right near or at the date of close ( sometimes faster than normal) whereas BoA as an example will have charges pend for a while even if nearing the statement close. When I absolutely don't want a charge pushing through by statement closing date( usually bc I want to keep utilization down, not AZEO), I avoid using any of my AMEX cards. 

[Horseshoez]

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@redpat wrote:

IMO azero is for the birds and have better things to do with my time.

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Agreed; unless one is shopping for a mortgage, car loan, or a new credit card; what's the point of fussing about AZEO?  Sometimes I hit All-Zero, usually it is AZEO, AZE2, or sometimes AZE3 and my scores do whatever they will do; it doesn't impact me regardless.

[K-in-Boston]

American Express owns their own payment network, so they have immediate access to settlement data from merchants.  This is why charges made sometimes even on the same day as your billing cycle end date will post to statements.  Amex also has an uncanny ability to initiate ACH transfers from your bank the second you make a payment (unlike some institutions like PenFed and Synchrony for example that seem to take days).

[nytokyobred79]

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@K-in-Boston wrote:

American Express owns their own payment network, so they have immediate access to settlement data from merchants.  This is why charges made sometimes even on the same day as your billing cycle end date will post to statements.  Amex also has an uncanny ability to initiate ACH transfers from your bank the second you make a payment (unlike some institutions like PenFed and Synchrony for example that seem to take days).

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I like how you've summed it up. I knew Amex will push through pending charges and ACH quickly but of course, it's bc they own their own payment network. Sums it up nicely 😊

[Openwater]

@K-in-Boston 

I wasn't aware that they had their own payment network. That is pretty solid. I love how AMEX handles things.\

@Horseshoez and @redpat 

It's not really an AZEO strategy. I just don't like raising my utilization up very high. Typically I leave a few cards with low balances to post. But I spend a decent amount each month and don't want that amount posting.