Charge card due date

[serfty]

Hi, for platinum you will be charged interest on the remaining balance after 10 days from the due date. Centurion have until the next statement date

Never happened to me - We've a business card for over 10 years and used to always pay by the next statement date (never used to have a pay by date - that was introduced a couple of years ago).

It may be moot as the statement date is generally right on the ten days after the advertised payment due date.

 

[bluenics]

Sorry I was talking about the personal card. FYI they will also waive your first interest charge should you miss a payment so don't stress

 

[serfty]

I checked and our payment due date is 21 days after statement date, so 10 days would take it to/beyond the next statement date on any case.

 

[cmon0005]

My due date is 14 days after statement date

 

[bluenics]

My due date is 14 days after statement date

Same. The business card is longer

 

[bluenics]

For those of us who like to pay 5-7 days after the statement due date I wonder what effect the new credit laws that permit reporting on 5 day late payments will have? Do we need to start paying on the due date?

 

[Hvr]

Yes you will or you will have lot of late payments showing on your record.

 

[Diesellife]

I'm leaning on the other side of the argument - NO.
Amex could / will charge us late penalty if the payment is deemed to be late or overdue, so obviously our payment during grace period could not be deemed as late and this wouldn't be reported as such.

 

[bluenics]

I'm leaning on the other side of the argument - NO.
Amex could / will charge us late penalty if the payment is deemed to be late or overdue, so obviously our payment during grace period could not be deemed as late and this wouldn't be reported as such.

I'm leaning to NO as well. But I'm not brave enough to test it LOL.

Has anyone received the updated 'information we can share about you' letter from AMEX? I've got it from other banks but not from amex yet. My guess is we're safe at least until we receive that!

 

[cmon0005]

I'm leaning on the other side of the argument - NO.
Amex could / will charge us late penalty if the payment is deemed to be late or overdue, so obviously our payment during grace period could not be deemed as late and this wouldn't be reported as such.

I am leaning towards this too, its up to the credit provider what and if they want to send data to the reporting agency (within the rules of the new requirements).
My guess is the likes of AMEX's won't list minor things on there, whereas the likes of GE probably will (this is just a guess).

I intend requesting a copy of my credit file in the next month just to see what it looks like with the new data.