Attention AMEX cardholders

[EyeMWing]

Text

 

[Anubis]

clifs on that?

 

[Zim Hosein]

Originally posted by: Anubis
clifs on that?

Don't use an AMEX card! :Q

 

[Ketteringo]

Don't carry a balance and don't worry

 

[EyeMWing]

Originally posted by: Anubis
clifs on that?

Read the orange block.

 

[Merlyn3D]

cliffs?

 

[EyeMWing]

Originally posted by: Ketteringo
Don't carry a balance and don't worry

If I read that right, and I'm pretty damn sure I did, that won't work any more. Interest will start accumulating before the end of the billing period.

Edit: Oh, unless your balance at the start of the period is 0. Okay. So don't carry a balance. EVAR.

 

[NutBucket]

WTH! Guess I'd better make sure to never carry any balance.

 

[mb]

Originally posted by: Ketteringo
Don't carry a balance and don't worry

Well, I never carry a balance.

 

[quizzelsnatch]

destroyed.

 

[aphex]

Damn, that friggen sucks.....

 

[Merlyn3D]

What would be the point of using it if that were true?

 

[mjrpes3]

So according to that new agreement, AMEX will begin charging people with credit card debt for new purchases the day they make that purchase, rather than the beginning of the the next filing period. More reason to stay out of credit card debt, I guess.

 

[NutBucket]

Membership rewards? I'm gettin' a nice $100+ credit next month.

 

[sharkeeper]

How the hell do you carry a balance? All mine are due at the end of the month in full.

 

[aphex]

Originally posted by: mjrpes3
So according to that new agreement, AMEX will begin charging people with credit card debt for new purchases the day they make that purchase, rather than the beginning of the the next filing period. More reason to stay out of credit card debt, I guess.

Thats what i'm getting from it as well....

1. If you carry a balance, no grace period for new purchases.
2. If your card is $0 as of the last billing cycle, you have the normal billing cycle grace period.

 

[anxi80]

damn cryptic topic scared me... thought their main account database got hacked or something. whew, this doesnt concern me. amex gold holder. balance gets paid off every month anyways. but that does suck.

 

[mwtgg]

Is it just me or is that site getting hammered? Mirror

Oh well, that sucks for all you AMEX users who like keeping a balance on your card.

 

[aphex]

Originally posted by: sharkeeper
How the hell do you carry a balance? All mine are due at the end of the month in full.

Amex Green = Charge Card (Balance in Full every month)
Every other Amex = Credit Card (Carry a balance)

 

[Anubis]

Originally posted by: sharkeeper
How the hell do you carry a balance? All mine are due at the end of the month in full.

yea i thoughts that was how all amex cards were

 

[KidViciou$]

i think the blue allows u to carry a balance

 

[jpeyton]

Originally posted by: EyeMWing

Originally posted by: Ketteringo
Don't carry a balance and don't worry

If I read that right, and I'm pretty damn sure I did, that won't work any more. Interest will start accumulating before the end of the billing period.

Edit: Oh, unless your balance at the start of the period is 0. Okay. So don't carry a balance. EVAR.

That's how I read it. It says the following (correct me if I'm wrong):

Billing period starts with a $0 balance. You run up a balance of $500 when the billing period ends and the next begins. You run up another $250 in charges from the time your previous billing period ended and the time they recieved your payment for the first billing period.

You will run up interest on the $250 for the time from when the first billing period ended and they recieved your payment for the first billing period.

If that's true, I'm calling up my bro and telling him to cut up his AMEX Blue right now. I only carry MC and Visa.

 

[sharkeeper]

Haha I remember the days when chaps would charge and could not pay and they would open up an Optima interest bearing account. :roll:

Mine's a Platinum and I have *never* paid any annual fee for it either.

 

[dionx]

Originally posted by: jpeyton

Originally posted by: EyeMWing

Originally posted by: Ketteringo
Don't carry a balance and don't worry

If I read that right, and I'm pretty damn sure I did, that won't work any more. Interest will start accumulating before the end of the billing period.

Edit: Oh, unless your balance at the start of the period is 0. Okay. So don't carry a balance. EVAR.

That's how I read it. It says the following (correct me if I'm wrong):

Billing period starts with a $0 balance. You run up a balance of $500 when the billing period ends and the next begins. You run up another $250 in charges from the time your previous billing period ended and the time they recieved your payment for the first billing period.

You will run up interest on the $250 for the time from when the first billing period ended and they recieved your payment for the first billing period.

If that's true, I'm calling up my bro and telling him to cut up his AMEX Blue right now. I only carry MC and Visa.

i think i'm interpreting the same way as you, however if you paid in full the previous two statements, finance charges will not be assessed on purchases for the current bill cycle even if they havent received the payment from the last statement yet. kind of like an act of good faith that you will pay in full again by the due date.

correct me if i'm wrong.

 

[redly]

don't feel bad about screwing them now