Amex change payment due date

[Ramirez]

Has anyone noticed that the payment date for charge cards has been cut down to 14 days?
They did not even bother sending out a letter advising of the change, apparently the marketing department thought that a notice on the statement is enough.. I'm not really impressed with the level of respect that Amex shows it's card holders...

 

[oz_mark]

Yes, I noticed it, and was a bit surprised by it.

 

[haydensydney]

We got a phone call advising the entire bill must be fixed up by the 21st of each month... we were told all centurion card members would both get a call and a letter

 

[Nutcase]

Got the same on my statement and missed it, although when I called to enquire about a couple of things, I was reminded.

 

[Mal]

That's a little nasty from Amex.

Not even a pamphlet?

 

[serfty]

It was only within the last year or so that payment dates began to appear on charge card statements/online (or at least on mine).

The T&C's for Amex charge cards state that full payment is due on statement issue.

I'll dig a link up if I can.

 

[MAX_1]

I have had the following crdit terms for as long as I can recall.

My statements close approx 8th of each month and payment is due by about 19th of same month. I have authorised direct transfer automatically so as to avoid forgetting payment.

This in effect gives me 40 days credit from the start of a period and 11 days from the end of a period.
To maximise credit time, I attempt to avoid purchasing anything in the last week of the period and defer the purchase until the 9th of the month.

 

[Schebesta]

Question: What is the key differences between the charge card and the credit card of Amex?

 

[Dave Noble]

Question: What is the key differences between the charge card and the credit card of Amex?

Thre credit card is a standard revolving credit agreement like any other credit card with a listed credit limit and a minimum repayment which is a small percentage of outstanding balance

The charge card has an unlisted exposure limit which may vary based on AMEX's view of risk of the card holder ; when the statement is issued then the full balance is due immediately

Dave

 

[serfty]

Here's a link to a Financial Services Guide for the Gold Card:

https://www.americanexpress.com/australia/pdfs/customerservice/ChargeCard_TC.pdf#page=7

6. Payment due

You must pay us the full amount of closing balance
shown in each monthly statement.

Payment due date. Payments are due and payable to
us immediately upon receipt by you of our monthly
statement. You will be deemed to have received each
monthly billing statement on the seventh day
following dispatch by us or upon its actual receipt,
whichever is the earlier. Failure to pay an amount
when due may be a default of the Account under
Section 26.

 

[oz_mark]

While it is true that it is immediately payable, section 14 states that you are only in default if you have not paid the amount by the next statement date.

Conclusion: The stated payment date has no meaning under the terms and conditions of the card.

 

[straitman]

I actually rang and asked them as I went from being on time to late with the change. The response was don't worry as you have paid before the next statement so all is OK.

 

[Dave Noble]

It could become an issue if the proposed changes to credit reporting takes place. Although paying within the statement period would not generate a default condition that would be reported, under the changes I think it may be reported as a late payment under the proposed changes should they get adopted

Dave

 

[serfty]

While it is true that it is immediately payable, section 14 states that you are only in default if you have not paid the amount by the next statement date. ....

I actually rang and asked them as I went from being on time to late with the change. The response was don't worry as you have paid before the next statement so all is OK.

I posted this in another thread a month ago.

http://www.frequentflyer.com.au/com...latinum-charge-card-you-19522.html#post265311

In actual fact Amex normally give you until the next statement to pay your charge card; at which time they begin to apply "late" fees if you haven't. After that there's another 2 weeks before more fees are applied and the sh!it starts to "hit the fan". ...

 

[MrSpokeyTokey]

Has Amex changed their terms?

Hi,

I have an Amex Centurion and have just noticed that on my latest statement, they've only given me 14 days from the statement date to pay the amount due.

It used to be 21 days from the statement date.

Have they changed their terms or is it only me?

Could anyone please advise?

Thanks.

MrSpokeyTokey

 

[Mal]

Re: Has Amex changed their terms?

Similar discussions are here:

http://www.frequentflyer.com.au/com...wards/amex-change-payment-due-date-19814.html

 

[aschmid]

I know this post is 12 months old but was wondering if people have any updates how stringent AMEX is with meeting the payment dates?

I just got a new card and payment is due on the 13th but I was wondering if i can payment around the 20th and avoid any penalties?

Appreciate any insight from the forum community how AMEX will respond.

Thanks a lot,
Andy

 

[steptoe]

This has been commented on in a recent thread which I cannot locate. Anyhow consensus, and my own experience, agree with the posts above. Pay by the next statement date and no penalty.

 

[serfty]

This has been commented on in a recent thread which I cannot locate. Anyhow consensus, and my own experience, agree with the posts above. Pay by the next statement date and no penalty.

Just to be Specific ... this is in reference to most AMEX CHARGE card accounts. (NOT Credit Cards)

 

[aschmid]

This has been commented on in a recent thread which I cannot locate. Anyhow consensus, and my own experience, agree with the posts above. Pay by the next statement date and no penalty.

Thanks for this! Just want to clarify for me to understand. My statement date is 29/30th of each month. They tell me to pay by 13th. If I pay anytime before the next statement 29/30th it will be no problem. Is that what you are saying.

Thank you!