cancel
Showing results for 
Search instead for 
Did you mean: 

Making minimum payment to amex

red259
Super Contributor

Making minimum payment to amex

Is there a downside to making the minimum payment to amex to get the points from the cycle even though I will end up paying in full before the final due date? Will it flag my account for review in the system if I make only the minimum payment, before I have a chance to PIF by the due date? 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 1 of 11
10 REPLIES 10
FortifiedHM
Valued Contributor

Re: Making minimum payment to amex

highly doubt there would be any problem with that.

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ᙪ൦ſΛ ८☕ Λlti-ၺ ✈☕թroթⅇl
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ ☕▲B ⍟Ⲙilⅇⴑթ ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⍟wſ -√ ⚕ᙪᙪ८⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 2 of 11
K-in-Boston
Moderator

Re: Making minimum payment to amex

No. As long as you PIF by the due date it’s still PIF. Carrying a large balance and making only minimum payments for multiple statement cycles on the other hand...

I’ve done minimum payments in the past just to be safe when I planned to BT the balance but wasn’t 100% confident in the lender processing the BT in time. No issues.
Message 3 of 11
Shadowfactor
Valued Contributor

Re: Making minimum payment to amex

You aren’t considered late until after the due date. All Amex cares about is that you pay the minimum by the due date.

Things might change after a couple cycles of only paying the minimum, but for what you’re doing it’s considered PIF on time.




Total Revolving Limits $254,800

Message 4 of 11
mr_suave
Established Contributor

Re: Making minimum payment to amex


@Shadowfactor wrote:
You aren’t considered late until after the due date. All Amex cares about is that you pay the minimum by the due date.

Things might change after a couple cycles of only paying the minimum, but for what you’re doing it’s considered PIF on time.

I have done minimum payments with Amex with no problem but those cards also have/had 0% intro APRs as well. I’m actually doing it on my BBP currently. My 0% expires in May so I’m focusing on paying off other balances that expire first. I’ve never did it on a card with no intro apr though because I PIF those cards.

 

I think the problem lies when one does it on a card that is getting charged interest

Amex Green NPSL, Amex Hilton Surpass 5k, Amex Marriott Bonvoy 1k, AMEX BBP 1k, AMEX Biz Cash 6k, BOA Cash Rewards 5k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 8k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 12.5k, Paypal Mastercard 4k, Apple Card 6.5k, Wells Fargo Cash Wise 5k, BOA Premium Rewards 8k, Citi AA Biz 1.5k, Flexperks Biz 3k
Message 5 of 11
SACT51
Frequent Contributor

Re: Making minimum payment to amex

Questionable.  AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person.  Not sure IMO if it's worth the risk.

Message 6 of 11
NRB525
Super Contributor

Re: Making minimum payment to amex


@SACT51 wrote:

Questionable.  AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person.  Not sure IMO if it's worth the risk.


The OP scenario is to pay the balance in full by the due date. I doubt an algorithm could pick out any sort of trend from that, other than “cardmember may be making multiple payments by the due date.”

 

I don’t see any risk.  

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
Message 7 of 11
ImTheDevil
Community Leader
Super Contributor

Re: Making minimum payment to amex

^^^ that’s how I took this too. First payment in the billing cycle is being made in the amount of the minimum payment just so the required payment is covered. Then later (next paycheck possibly) the balance is being paid. I see no issue - OP is simply paying off the balance in two payments. He just happens to make the first one in the amount of the minimum payment so that should something happen later, the required amount has already been covered.


Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy cashRewards | Navy Platinum | Apple | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





Message 8 of 11
Shadowfactor
Valued Contributor

Re: Making minimum payment to amex


@mr_suave wrote:

@Shadowfactor wrote:
You aren’t considered late until after the due date. All Amex cares about is that you pay the minimum by the due date.

Things might change after a couple cycles of only paying the minimum, but for what you’re doing it’s considered PIF on time.

I have done minimum payments with Amex with no problem but those cards also have/had 0% intro APRs as well. I’m actually doing it on my BBP currently. My 0% expires in May so I’m focusing on paying off other balances that expire first. I’ve never did it on a card with no intro apr though because I PIF those cards.

 

I think the problem lies when one does it on a card that is getting charged interest


It’s very YMMV and profile dependent. 

I think companies have come to expect that people will carry balances during 0% periods. Why else would they offer them ? They hope you carry a balance and either forget or don’t have the money to pay it off in time and they get all that interest. 

 

I personally think amex would shut me down in a heartbeat if I continued my usual activity  of charging 20-40K a month and not PIF. My income doesn’t support that sort of carry, but my business revenue supports spending that much monthly. 





Total Revolving Limits $254,800

Message 9 of 11
red259
Super Contributor

Re: Making minimum payment to amex


@NRB525 wrote:

@SACT51 wrote:

Questionable.  AMEX & Chase, but I think more Chase, use an algorithum to monitor account payments, especially with new accounts and then flagged accounts are reviewed by a person.  Not sure IMO if it's worth the risk.


The OP scenario is to pay the balance in full by the due date. I doubt an algorithm could pick out any sort of trend from that, other than “cardmember may be making multiple payments by the due date.”

 

I don’t see any risk.  


Yes this. I just don't feel like PIF right now but I was trying to see if making a minimum payment now would speed up my bonus posting. However, after looking into it I believe the SUB offer requires 1k more spend than I had spent already, which would explain why the bonus had not posted. I spent an extra $1k on the card, so hopefully I will know in a few days once that charge clears. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.