I was told by a friend that AMEX platnium holders have the ability to pay on a (60) day cycle on bills if they wish with no additional interest charges. I cant seem to verify this anywhere else. Is this true? Rob Many years ago AMEX green had a (60) day pay cycle.
Well, I do know that AMEX doesn't report you late until 60 days, but after the 3 day grace period, I believe they will bill you a late fee. The 60 day late scenario is per their customer service.
I agree with the above poster....they don't report the late but they do charge the interest....every cycle....alot of companies do same sort of thing... Example....you're due date is june 15....the cc won't report you late until July 16....ususally the magic mark is 30 days...so if you pay your late by the 15th your fine....which really is almost 60 days since you incurred the charge........
For me right now I have the green card used heavy for business. However if I go past the due date I dont want to incur late fees or have them think I have any problem paying. I would like as much float time as possible... Rob
Amex has what's called promise to pay, which means that if you call them and make promises within 7 day time frames they will not report to the bureau. If you go over 45 days they will charge a late fee. Amex will also note internally that you have gone over 30 days- you do not want to do this unless you have an emergency. Amex gives you up to the CLOSING date to pay your bill. Pay your bill online and you instantly get a confirmation number.
?AMEX Platnium holders? Try Diners Diners Club is the card that gives you two billing cycles to pay before any late fees or reporting happen. The also offer PRIMARY collision waiver coverage (for rental cars), so if you have a major accident, you don't even have to inform your own insurance carrier. They cover it all.
?AMEX Platnium holders? Try Diners I have a platinum card and Am Ex was very good to me during my divorce. To make a long story short, my ex didn't pay me as he was supposed to, so I got behind on my Am Ex. I went past the 60 days, but they worked with me and did not report to the CRA's. I spent a ton of money with them and I think that is why they were lenient and I stayed in constant contact.
