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Attention AMEX cardholders

Originally posted by: Ketteringo
Don't carry a balance and don't worry 😛
Click to expand...

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.
 
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.
 
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.
Click to expand...

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

Amex Green = Charge Card (Balance in Full every month)
Every other Amex = Credit Card (Carry a balance)
 
Originally posted by: EyeMWing
Originally posted by: Ketteringo
Don't carry a balance and don't worry 😛
Click to expand...

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.
Click to expand...

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.
 
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. 😛
 
Originally posted by: jpeyton
Originally posted by: EyeMWing
Originally posted by: Ketteringo
Don't carry a balance and don't worry 😛
Click to expand...

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.
Click to expand...

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.
Click to expand...

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.
 
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