American Express is nice
I ALWAYS pay off my Amex card 1 day after it is due, and have never been charged interest. This pay period, I actually carried a small balance for a couple of days, and wasn't charged interest.
Thanks Amex for not being a credit card a-hole.
+1, Amex rocks. I once booked $2,000 worth of flights and hotels on a corporate Amex through their travel service...being exhausted at the time, I booked them for the wrong date.
I phoned them up expecting to have to grovel to get it backed out, got a human on the second ring, and they fixed it in under five minutes. Impressive customer service.
AMEX has 2 types of cards. Normal credit card with interest rate, due date, etc. These are usually their affiliate cards (like Starwood Preferred Guest). If you pay late they will charge you. Their other cards are not credit cards and don't charge interest on late payments(usually) They don't have a disclosed limit but are still do on a certain date. I always suspected that if you continually don't pay them on time(not wise) they will either revoke the card or convert you to one of their credit type cards.
real question is why not pay a day earlier before it's due?
My first card was an Amex card, but I cancelled it after I learned that Amex charges much higher fees to merchants than Visa or Mastercard do, which is one reason why many merchants don't accept Amex. I don't know if that's still true. The other reason I cancelled it is that Amex charged an annual fee for their cards, which seemed silly since I could get a Mastercard or Visa for free. Again, I don't know if they still charge annual fees, but if they do I don't see any benefit to having Amex. I've never paid an annual fee on any of my credit cards and refuse any offers for cards with annual fees even if the value of their perks is greater than the annual fee because I rarely end up using most of those perks so I lose money that way.
Yes, they still charge more to merchants than the other cards. As such, not all merchants accept AMEX. One exception is Costco ( my favourite store) which only accepts AMEX, cash, or debit. Some AMEX cards pay very nice perks, which for some people (including me) may justify the fee. Certainly not for everyone though.
Where's the fun in that?
Originally Posted by blin10
The answer is: pay day is 1 day after amex day, and since finding that they don't charge the interest, I know what day I need to pay it. Pretty simple.
Got a platinum card few years ago supposedly with 'no limit' .In 5 months I used it for $137,000 and every week or so they would call to ask us to pay off something we bought few days before for $10,000 or so .I only used it for the aeroplan points but one day they called to ask us to pay for something that we didn't even have the bill for so I dropped the f bomb told them to give be back my $499 fee and cancel the card.Wouldn't use them again if they were the last credit card on earth.
We spend $500,000+ a year on credit card purchases between personal and business and I am the clients they want lol.
Never had a late payment ,couldn't even get to the statement date before they asked for the payment because they said I did not have a steady spending pattern and always flagged security .