From Clarkhoward.com False AMEX due dates Do you carry a traditional American Express card? The Boston Globe reports that, in addition to shortening the period you have to pay your balance, American Express is now posting false due dates on your statements. This applies to the green American Express charge cards that cost $300 a year and require that that balance be paid in full each month. If you have one of these and are in a panic to get your payment in by the due date, there is no need. The due dates arenâ??t real and American Express is trying to boost its revenue. One member interviewed for the story said he got a statement with a billing date of March 12 and due date of March 27. He called American Express and was told that the due date was actually April 25. The company simply preferred that the customer pay by that date. Usually, you can add a month to the date on your statement, but call AMEX to make sure you know the real date. ---- Sure enough, my statement came in the mail today (4-9-02) it has a "Please Pay By" date of 4-17 which is 15 days after the statement closing. I was a little freaked out in December when I got my first Amex statement because I thought I remembered that you used to get a full billing cycle to pay. I called Amex and verified that my payment isn't really due until 5-2. It's too bad I already paid my balance for this month. They're not going to get my money early any more.
You are correct Dave! I fell for that month #1 - but actually I have always paid any balance by the due date they post. Everything you said was correct! I have actually paid a month early for nearly 2 yrs. It is certainly NOT CLEAR that the due date is not what's posted! I will say that I was pleased today when UPS delivered my BOSE WAVE CD from the AMEX points! I had another BOSE - this one is Graphite Gray - looks and of course sounds wonderful! Best regards - dogman
When I called, the person who took my call said they'd been getting a lot of calls about this story today. I'd suggest that everyone here with an Amex charge card call to complain.
yep. I noticed that today too. Statement drop date 9th... due date 23... odd. way too close and by far the closest date from statement drop to due date. the good news is it protects your credit rating plenty of time to get the payment in... Ok: I called Amex. They said the statement used to say "due upon receipt" and now the statement has a "reminder date"... meaning the 23rd is the reminder date. she said it is due by the close of the next statement so you have a full 30 days... she also said of the Boston Globe article... "that was mean"...
I don't know why they are making a fuss about AmEx billing - it is plain as day that it is due before the next closing date. I usually pay on the date they give me, though. Who cares? If I have the money in hand, I pay it. Why take chances?
It wasn't too clear to me. I finally found on my statement in the pre-printed fine print a line that says the payment is considered past due as of your next closing date. But it clearly says right on front that to avoid finance charges you must pay by the due date. The only date that is mentioned anywhere on the statrment (three times on the front page) is the "suggested" date. I consider myself a pretty bright person and I was faked out by it. Like I said before -- I remember back in the old days when I had the card when they used to print the real due date on the statement. I just figured that things had changed and they were now only allowing 15 days.
I always pay the day before it's due online. Why pay them any earlier if you dont have to?? The bill clearly says to pay by a certain date, but if you call customer service, they will say that that's the "suggested mailing date." Amex is the only card where you get a FULL 30 days float, somtimes you can float a charge for almost 2 months before it actually has to be paid.
1. I agree w/ Dave. Amex's cashflow problems shouldn't result in misleading due dates. 2. The green charge card does not carry a $300 annual fee, as the article suggests. 3. Diners Club offers a 62-day grace period. Saar
I think the article is going for sensationalism a bit but their point is that Amex is doing this trick with their platinum charge customers as well. That card has a $300 annual fee.
actually, my Cap1 Platinum cards have a full month float. and what I really like is every month my visa drops on the 8th and is due on the 8th of the next month. EASY
This is a violation because you have a right to receive the bill at least 14 days before 4/17.You should have gotten the bill by 4/3 not 4/9,
It is my understanding that a bill is actually a courtesy. You owe a cc bill even if one is never sent. This does not violate any law that I am aware of.
The best benefit in my opinion is the airport club access. Contintental presidents club membership is normally about $900/yr. I also like free membership rewards, since I'd actually be paying $115 a yr for the gold. $75+$40MR. People say the international airline program is the best since you can save thousands of dollars... but actually it's not that great of a deal. They make you purchase a FULL FAIRED first class ticket, which could be over $5000. Then you can get a free companion ticket. What do you think is the best benefit?
