What's with Amex "Pay over Time"?

[SouthJamaica]

I just noticed that my Amex platinum card now has "Pay Over Time" enrollment available to me.

Is this some kind of trap for the unwary?

Will they start reporting credit limits and balances to the credit bureaus, and if so how will they report them?

If I had it, I don't think I'd actually use it, but I'm wondering if signing up for it would help, hurt, or have no effect on, my credit scores.

[myjourney]

Nothing new for their charge cards that option has been around 2 years or more that I know of 

[Anonymous]

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@myjourney wrote:

Nothing new for their charge cards that option has been around 2 years or more that I know of 

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Much longer than that.  I remember getting that offer on my Gold card in early 90s.

[myjourney]

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@Anonymous wrote:

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@myjourney wrote:

Nothing new for their charge cards that option has been around 2 years or more that I know of 

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Much longer than that.  I remember getting that offer on my Gold card in early 90s.

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See nothing new 

Lol

Thank Irish 

[Anonymous]

Is this some kind of trap for the unwary?- It is giving an option to carry a balance on the charge card like any other credit card unless you don't carry balances then don't worry about it.

Will they start reporting credit limits and balances to the credit bureaus, and if so how will they report them? - The charge card is NPSL so don't understand your question as it does not have a limit.

If I had it, I don't think I'd actually use it, but I'm wondering if signing up for it would help, hurt, or have no effect on, my credit scores. - It does not hurt to sign up and it can come in handy during an emergency...

[srecor]

In 80 was called sign and travel

[SouthJamaica]

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@Anonymous wrote:

Is this some kind of trap for the unwary?- It is giving an option to carry a balance on the charge card like any other credit card unless you don't carry balances then don't worry about it.

Will they start reporting credit limits and balances to the credit bureaus, and if so how will they report them? - The charge card is NPSL so don't understand your question as it does not have a limit.

If I had it, I don't think I'd actually use it, but I'm wondering if signing up for it would help, hurt, or have no effect on, my credit scores. - It does not hurt to sign up and it can come in handy during an emergency...

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Thanks Yes-its-Me

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Is this some kind of trap for the unwary?- It is giving an option to carry a balance on the charge card like any other credit card unless you don't carry balances then don't worry about it.

Will they start reporting credit limits and balances to the credit bureaus, and if so how will they report them? - The charge card is NPSL so don't understand your question as it does not have a limit.

If I had it, I don't think I'd actually use it, but I'm wondering if signing up for it would help, hurt, or have no effect on, my credit scores. - It does not hurt to sign up and it can come in handy during an emergency...

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Thanks Yes-its-Me

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You are welcome!!