Amex zeros out a credit balance

Old Jun 2, 20, 3:54 pm
  #1  
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3 cent credit balance

I have an AMEX EveryDay card that I recently converted to an EveryDay Preferred. For quite a while, I've had a 3 cent credit balance on the card (I very rarely use the card). But I just received my latest statement and the 3 cents is gone. The line item is "Small Balance Write-On Purchase Principal". Has anyone heard of this? is a 'write-on' similar to a 'write-off' -- except Amex takes the money, rather than forgives it? I don't care about the 3 cents, of course, but this doesn't seem quite kosher.
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Old Jun 2, 20, 4:43 pm
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Originally Posted by BostonAndy View Post
I have an AMEX EveryDay card that I recently converted to an EveryDay Preferred. For quite a while, I've had a 3 cent credit balance on the card (I very rarely use the card). But I just received my latest statement and the 3 cents is gone. The line item is "Small Balance Write-On Purchase Principal". Has anyone heard of this? is a 'write-on' similar to a 'write-off' -- except Amex takes the money, rather than forgives it? I don't care about the 3 cents, of course, but this doesn't seem quite kosher.
Yes, I had my first "write on" ever a couple of months ago. I almost always round up to the next $ when paying, and then I didn't use one particular card for a few months. I'm sure somewhere in the myriad of changes we receive from time to time, we've consented to this "fine business practice" by continued card use.
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Old Jun 2, 20, 6:46 pm
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I wonder if it ends up in unclaimed property? I have $.07 from American Express that I've never bothered to claim, but it shows up when I do a search on the state's website.
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Old Jun 2, 20, 6:48 pm
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AFAICT - AMEX will issue a check for you to deposit.

AMEX won't send the money to unclaimed property unless they can't get ahold with you.
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Old Jun 3, 20, 7:01 am
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Originally Posted by garykung View Post
AFAICT - AMEX will issue a check for you to deposit.

AMEX won't send the money to unclaimed property unless they can't get ahold with you.
Depends how hard they try

Signed, a guy whose job for a year was escheatment
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Old Jun 3, 20, 9:15 am
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It is nothing more than a "legal" Office Space scheme to boost profits.
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Old Jun 3, 20, 1:11 pm
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Originally Posted by Eastbay1K View Post
It is nothing more than a "legal" Office Space scheme to boost profits.
I've probably benefited more often from the write-off than most. For a very long time, I only used my Platinum card for parking meters, and they were writing off bills as high as 75 cents, several months in a row. I kept wondering why I wasn't getting billed anything. Definitely put me over the edge in making the annual fee worth it!
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Old Jun 4, 20, 12:11 am
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The MOST you could have benefited from that scheme was $8/year. You must be cutting it mighty close if that's the deciding factor of whether or not the annual fee is worth it.
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Old Jun 4, 20, 7:37 am
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I think most cards (AMEX or not) won't refund a credit balance under $1 unless explicitly requested, correct me if I'm wrong
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Old Jan 22, 21, 11:25 pm
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Amex zeros out a credit balance

I had an Amex card with less than $1.00 credit balance. They recently zeroed it out without sending me a a check or applying the credit to another flavor Amex card I use. Anyone have this happen?. It’s just odd. Not worth a call to Amex but heck it’s Covid and I’m not traveling and bored.
I am going to quote the actual wording on the Amex statement just in case some of you think money is coming my way via a check. "Small Balance Write-On Purchase Principle". Yep that is an accounting term I have not heard! A "write-on" versus "write-off".
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Last edited by Centurion; Jan 24, 21 at 12:30 pm Reason: added actual quote from amex
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Old Jan 23, 21, 3:16 am
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Credit card issuers sometimes waive small balances ($2 or less), likely because the cost in recovering the payment exceeds the debt owed.

Doctor of Credit has some data points (most waive balances $1 or 99 cents or less) for some major banks.


EDIT: I misread the first post.

Last edited by Wyfind; Jan 24, 21 at 8:00 pm
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Old Jan 23, 21, 6:25 am
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Originally Posted by Wyfind View Post
Credit card issuers sometimes waive small balances ($2 or less), likely because the cost in recovering the payment exceeds the debt owed.

Doctor of Credit has some data points (most waive balances $1 or 99 cents or less) for some major banks.
But, this is a credit, not a debit balance!

OP - Simply send a note to Amex asking that it issue you a credit to the other account, send you a check or transfer the funds to a specified bank account. The former likely the easiest.

Many cards do have a contract (t&c) provision which establishes a fee for small balances left on account for a period of time, e.g. <$1 incurs a $1 fee after 120 days or somesuch.
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Old Jan 23, 21, 9:53 am
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Yep Amex zeroed out a credit balance. As in Amex took my money. I get it if I owed them 95cent usd and they write it off but Amex owed me the money.
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Old Jan 23, 21, 10:17 am
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How long has it been? Sometimes it take a bit for it to process and have a check issued then received in the mail. Hell my last two 2 day priority package took 11 and 9 days.
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Old Jan 23, 21, 11:38 am
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You should get a check. If it's been more than six weeks, call.
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