Old Aug 12, 10, 12:57 pm
  #14  
andrewpartyman
 
Join Date: Oct 2009
Programs: DL DM, SPG Plat, AMEX Centurion (And All That Goes With It)
Posts: 393
I have had a Centurion account in the past, and now I just have Platinum. I am probably in the top tier of AMEX cardholders (although they never treat me like that, in my opinion--or rather haven't since the late 90s). I spend about 30k/month steadily on the card.

Last spring I called to see if the extended payment option was available. They told me that they were stopping it because of the economy (not in so direct of terms) and that they have had a lot of cardholders who have turned their charge cards (pay in full) to credit cards. It was originally available to me only on travel related purchases over like $300 bucks I think.

That said, having had a relationship with AMEX for years and seeing it all I would be VERY VERY weary of any overtures of theirs to give you extended payment options. First off, AMEX isn't exactly offering low interest rates with any of their credit cards, much less when they are floating your bills for you on a charge card. Secondly, I would imagine this will change your fine print quite a bit. AMEX loves to seize opportunities like this to justify a financial review (look up my old posts, I rather deal with the Gustapo than AMEX when they are doing a financial review), etc.

Having seen it all I wouldn't be surprised if you turn on extended payments, eventually get your 5k MR points (which really aren't a big deal, this shouldn't be your sole reason for doing this), only to have your account frozen because of your "change in behavior" or any other vague term.

BE VERY VERY VERY VERY WEARY of something like this. Since 1981, I have never missed a payment, never have had a returned payment, have had various AMEX cards over the years, was a charter Platinum Card holder, charter Centurion, etc. and behavior like this is totally to be expected by AMEX.

In summary, everything with AMEX these days is a Catch-22:

You are a good enough of a cardholder that they give you extended payment options. One day later, you're a risk because you have extended payment and therefore need to have your account closed, subjected to a financial review, or a "temporary" credit limit imposed. This is typical AMEX.

Last edited by mia; Aug 12, 10 at 5:17 pm Reason: Combine consecutive posts
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