American Express Membership Rewards - Pay by "closing" or "payment due" date?

My company pays my Amex directly (after approved expense reports are submitted) which means if they're slow, I'm often in danger of losing points.

My question is this: Do you have 30 days from the "closing date" of the statement or 30 days from the "payment due" date to pay before losing points? The T&C says the closing date, but the "What are Forfeited Points?" screen on the point summary page says forfeited points are "are points for charges on a Card billing statement that you paid 30 days (60 days for the Platinum Card®) or more past the "Payment Due" date, and as a result, have not been added to your Membership Rewards point balance."

So which is it? Anyone have any practical experience?

I have a corporate card which almost always has a closing date of the 30th and a "payment due" date of the 15th of the following month.

Thanks!

My company pays my Amex directly (after approved expense reports are submitted) which means if they're slow, I'm often in danger of losing points.

My question is this: Do you have 30 days from the "closing date" of the statement or 30 days from the "payment due" date to pay before losing points? The T&C says the closing date, but the "What are Forfeited Points?" screen on the point summary page says forfeited points are "are points for charges on a Card billing statement that you paid 30 days (60 days for the Platinum Card®) or more past the "Payment Due" date, and as a result, have not been added to your Membership Rewards point balance."

So which is it? Anyone have any practical experience?

I have a corporate card which almost always has a closing date of the 30th and a "payment due" date of the 15th of the following month.

Thanks!




Just make sure to pay before your next statement date - if you call Amex they will actually tell you that date, but you can tell by your history that it is "around" a certain date each month. The payment due date can be disregarded as far as making an on time payment, as long as you pay before your next statement is generated. I pay electronically - allow a day or two for proper posting. I cannot tell you, though, how paying closer to your next statement might reflect a credit score - I have heard that promptness of payment is something that is kept track of. But for purposes of late fees or forfeited points, you'll be fine as long as you make payment before your next statement. I did have a friend who was able to recover forfeited points from Amex after he explained that accounts payable was to blame and not him, so if it's not habitual you might be able to get expense-report relief there.

I pay electronically - allow a day or two for proper posting. I cannot tell you, though, how paying closer to your next statement might reflect a credit score - I have heard that promptness of payment is something that is kept track of. But for purposes of late fees or forfeited points, you'll be fine as long as you make payment before your next statement.

That is what I do. I don't know (or care) what the impact on my credit score or what AMEX thinks of me by doing this. I still get the 0% offers all the time, so I figure it can't be that bad. I've never spent 150K on the card (have come close a couple of times), so I can't tell you if my not getting a Centurion is related to this.

I called Amex on this a couple of years ago. I was really ticked off that they were putting a Payment Due Date on the statement that was 15 days after it closed and I wondered what changed.

All they could say was so I got the money to them in time! In actuality, it's so they get the money from you 2 weeks before the T&C's say you have to get the money to them!

So, if your account closes on the 15th, you need to pay them by the 14th of the following month (except Plat, of course). And, since they record an online payment effective the day you do it, you could wait till that last day if you really wanted to.

So, if your account closes on the 15th, you need to pay them by the 14th of the following month (except Plat, of course). And, since they record an online payment effective the day you do it, you could wait till that last day if you really wanted to.

In effect, a 45 day payment cycle ;) If you pay for something on the first of the month, you do not have to pay for it until the 14th of the following month :D

As noted directly above, it's 15 days after billing cycle date. For Platinum cards (Cent. too I'd guess) you're allowed to be one cycle behind without losing points.

In effect, a 45 day payment cycle ;)
If you pay for something on the first of the month, you do not have to pay for it until the 14th of the following month :D
So after 45 days, they give your money back?? How can I get in on this!!



(sorry Chris... could not resist... ;) )

I had to deal with this 'payment date' nonsense again today. I went to pay my SPG Amex balance online and it showed a zero balance and zero payments history. So, I brought the statment up, it showed the balance and I hit the 'pay balance now' button. It then said I couldn't make a payment because I didn't owe anything... weird! :confused:

So, I called Amex... got the delay and was connected to India. I should have hung up then. The guy kept telling me I had to pay by the 'payment date' which was 20 days after the 'statement date' and I would be overdue 30 days after the 'statement date.'

So I asked him if I was in trouble now (I am day 25)? He said 'no.'

So, if I'm not in trouble, why are you telling me I have to pay 20 days after the statement date? He said 'Because that's what your statement says... 20 days after.'

I said can I pay you on the phone now since I can't pay you online? He said 'yes.' So I did and it went through.

So, I still don't know why the web system said I owed nothing, and neither did he.

What a bunch of idiots! :mad:

I had to deal with this 'payment date' nonsense again today. I went to pay my SPG Amex balance online and it showed a zero balance and zero payments history. So, I brought the statment up, it showed the balance and I hit the 'pay balance now' button. It then said I couldn't make a payment because I didn't owe anything... weird! :confused:

So, I called Amex... got the delay and was connected to India. I should have hung up then. The guy kept telling me I had to pay by the 'payment date' which was 20 days after the 'statement date' and I would be overdue 30 days after the 'statement date.'

So I asked him if I was in trouble now (I am day 25)? He said 'no.'

So, if I'm not in trouble, why are you telling me I have to pay 20 days after the statement date? He said 'Because that's what your statement says... 20 days after.'

I said can I pay you on the phone now since I can't pay you online? He said 'yes.' So I did and it went through.

So, I still don't know why the web system said I owed nothing, and neither did he.

What a bunch of idiots! :mad:

My experience with this payment date issue is that their charge card products have a different policy than their credit card products. I have a platinum charge card and have never paid any attention to the "payment due date" on my statement (they never used to print one when I first got my card). Instead I simply pay before my next statement date. This has always been fine with Amex. Then I got a Delta Amex and an SPG Amex, both credit cards, and I assumed that I also had until the next statement date to pay. Not so... the first time my payment was received after the printed due date (but before the next statement date), I got hit with finance charges on my next statement. I called customer service and got the finance charge waived but was told they enforce the due date on their credit card products. I haven't paid my Delta or SPG Amex late since so don't know if this policy is still the same.

My experience with this payment date issue is that their charge card products have a different policy than their credit card products....
Ahhhhhhh... I see what you mean, Phil!
doooh! :eek:
I'll watch that, and see if I have a finance charge on my next bill.

Thanks!

Ahhhhhhh... I see what you mean, Phil!
doooh! :eek:
I'll watch that, and see if I have a finance charge on my next bill.

Thanks!

My statement closing dat is the 25th of each month. So basically I have up to a few days before to pay the bill? I never knew this. This is another great thing for cash flow.

rob

I use the card for large volumbe business purchases.....