Hi all! I have an AMEX Gold Reward and have noticed an option called "pay charges over time" when I login online to my account. I clicked it to find out more and it immediately said they couldn't honor my request. Does anyone know anything about this and how it might work? Thanks in advance for responses! gilmores
Its an amex program called "sign and travel". Usually, you need to be with amex for a certain length of time (1yr+) and have a perfect payment history. When they offer it to you, what happens is the charges that you make can be turned into a revolving account. The interest is kinda high at prime+9.99%, thus 13.99%. If you've been with amex for awhile, I'm sure you can inquire about it. Btw, the payments on the revolving portion is 2% of the balance/month. Hth.
YEARS AGO...when I had my AMEX GOLD CHARGE CARD...it had a separate account (sort of) "IF" I wanted to pay over time I actually was paying the sponsor bank (I think)...and made the minimum payment to AMEX
If you use the sign and travel it shows up as another trade on your Credit report. The rate sux so I dont use it.
I have this feature on my account. I have never used it due to the rate. When I called Amex for an increase on my Blue account, the rep lowered my revolving minimum to $100. Usually you can't revolve any purchase under $200. BTW, does anyone have a lower rate on the charge card revolving accounts? If so, did you call retention or customer service to have the rate lowered?
I've used it once and it did show up under a different account. It was even labeled revolving. Its kinda cool if you say, charge 10-20k and leave it on there for a week and then pay it off. On the credit reports, it will state that your limit was, say 10k, if you had a balance of 10k. When you pay it off, the limit will remain 10k and your balance owed will be 0. Another good way of decreasing your debt to credit ratio. Overall, it adds more credit available to your report.
