When is interest charged on AMEX (Charge Cards) pay over time now that due date is real.

[Budoka]

As most know since the beginning of this year AMEX changed its suggested pay by date to a hard due date for its charge cards. Because of this, I am a little confused about how the interest charges work now with Pay Over Time, Sign and Travel, etc.

Does interest start accumulating from the Due Date? Or does it start accumulating from the Closing Date?

So for example, if I pay the "Minimum Due" by the due date and then pay the balance in full before the closing date are interest charges still incurred?

[601flyguy]

Good question... I would like to know this as well

[Budoka]

After some run around with various CS reps and outlets the CS rep via Twitter stated flatly that "Interest is accrued from the Due date. ". Not sure why it was so difficult to get from an official channel.

[Anonymous]

That makes sense

[MrDisco99]

What interest? I thought with charge cards you were required to pay in full...?

[MrDisco99]

Never mind... I just saw you were referring to the "pay over time" feature.

[Anonymous]

Thanks for the question and answer, I learned something new! Dv

[Budoka]

The CS Rep just amended their initial reply... "The exception to this is charges transferred by the Card Member using the Select & Pay Later feature.Select & Pay Later charges start to accrue interest on the date the Card Member transfers the charge to the Pay Over Time balance."

[Budoka]

Adding a data point to this thread. My last billing cycle I had to split my payment in two. One was made before the due date. The second was done after the due date and before the closing date. Contrary to what the CS Rep told me, no interest or fees were accrued.

[UpperNwGuy]

Let the record show that PenFed is not the only card issuer with uninformed customer service reps.  Looks like Amex has them too.