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Bonus points to enroll in Extended Payment Option [USA]

Bonus points to enroll in Extended Payment Option [USA]

Old Mar 5, 18, 12:44 am
  #451  
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Where in the Amex website do folks see this offer?
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Old Mar 5, 18, 10:16 am
  #452  
 
Join Date: Feb 2014
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Originally Posted by UA Fan View Post
Where in the Amex website do folks see this offer?
You need to have received an offer via snail mail to get the bonus points but it's at: americanexpress.com/expoenroll27
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Old Mar 5, 18, 10:53 am
  #453  
 
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Sometimes it comes by email.
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Old May 22, 18, 7:39 pm
  #454  
 
Join Date: Jan 2014
Posts: 1,269
Angry Kicking myself

I got a new PRG card and went online to activate it. I went through the process too fast, and I accidentally enrolled in the extended payment option. I thought I was enrolling for the paperless option, but I was enrolling in extended payment. A fraction of a second after pressing enter, I realized my mistake. 10K MR points down the drain. :-(
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Old Sep 21, 18, 10:42 pm
  #455  
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Just got this in the email. 10,000 MRs.

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Old Sep 25, 18, 4:37 am
  #456  
 
Join Date: Sep 2017
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Got Extended Payment Option 10k email and prompt during login on website. On Gold biz card. Easy 10k.
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Old Jul 31, 19, 7:58 pm
  #457  
 
Join Date: Dec 2018
Location: New York City
Programs: UA Gold, *AG, AmEx Plat
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Amex Platinum Pay Over Time

Hello!

I just recently received an email for Pay Over Time Direct for my card. I don't actually need it, but it looks like it's "free" 10K MR points, but had a few questions.

1. If I sign up for it, how should I un-enroll?
2. When should I un-enroll? Is there a minimum time I should wait before I un-enroll?
3. Is/Will there [be] a better offer?

Thank you!

p.s. not sure if this is the proper place to post, since there isn't a consolidated thread for basic questions.
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Old Jul 31, 19, 10:38 pm
  #458  
 
Join Date: Apr 2013
Posts: 199
Originally Posted by risenmyth View Post
Hello!

I just recently received an email for Pay Over Time Direct for my card. I don't actually need it, but it looks like it's "free" 10K MR points, but had a few questions.

1. If I sign up for it, how should I un-enroll?
2. When should I un-enroll? Is there a minimum time I should wait before I un-enroll?
3. Is/Will there [be] a better offer?

Thank you!

p.s. not sure if this is the proper place to post, since there isn't a consolidated thread for basic questions.
Free points, just keep paying in full. Cheers.
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Old Feb 19, 20, 5:35 pm
  #459  
 
Join Date: Dec 2018
Programs: Delta
Posts: 61
10K Point for enrolling in Pay Over Time

I just got a letter that I could enroll in a pay over time program with AMEX Platinum? I pay my bill every month, don't see any downside to getting 10K in points. Anyone know of a catch or gimmick I need to be aware?
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Old Feb 19, 20, 6:13 pm
  #460  
 
Join Date: Nov 2013
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I had that offer a while back and while I find it odd that they'd offer it on a charge card, I took my 10k points
No gimmick, but I don't know the impact if any to credit. I don't think there was a hard credit pull but it might (?) change your available credit.

Be on the lookout for the 5000 bonus to add authorized users ($500 min spend), since the free gold card counts!
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Old Feb 19, 20, 6:23 pm
  #461  
 
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No gimmick. Enroll, get 10,000 points. (You don't ever have to use the feature wither, unless you so desire.)
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Old Feb 19, 20, 7:36 pm
  #462  
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Does this not post immediately nowadays? My wife got the offer via email and enrolled a few weeks ago and nothing yet.
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Old Feb 20, 20, 12:45 am
  #463  
 
Join Date: Sep 2014
Posts: 717
Unless careful it is very easy to get burned with Amex POT. By all means take it for the promo awards points, but wouldn't use it or do so carefully.

There are two versions if am correct; one is automatic, other is Pay Over Time Select.

With the latter it's basically like a line of credit from AMEX. With the new website POT is displayed (for those enrolled), and if you want to use it click on like to "see what charges are available" to be moved over to POT. Only certain travel, entertainment and few other things qualify, so if nothing like that is on your current bill, then that is that. If there is system will show which charges are eligible, you check ones want to move, click, and things are moved over (subject to approval).

Other version is far more dangerous, and have seen many fingers burned.

This is the automatic "Pay Over Time" where any qualifying charge made on your AMEX is moved over soon as it posts, not at say end of your billing cycle. Worse you'll begin accruing interest from day one charges are moved over to POT (no grace period). Also once you've moved something over to POT that's it, cannot get it back out.

There's even more fun; like a cash advance you cannot get at the POT balance without paying off any regular charges first. So if you have a POT balance of $3000, an Amex payment due on 12th for $5000, and current charges (for next billing cycle) of $2000 you'd have to pay the $7000 first, then any excess would go to the POT balance. This or you can simply pay entire balance (total due for statement, new charges, and POT) all at once. In short payments in excess of current balance due will be applied to next month's bill first (if any), then POT balance.

Clearly as with those debt consolidation loans Amex has been offering they are getting into the banking business seeking to make money off interest. That is the only reason why POT exists IMHO.

While there may not be a "gimmick" I'd make very sure when enrolling in POT that it isn't the automatic version. Pay Over Time "Select" is indeed harmless. Long as you don't transfer anything into it, and or are aware of what is going on , should be fine. But quite honestly anyone with a halfway decent credit score should have a CC with lower APR than Amex is offering.
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Old Feb 20, 20, 9:09 am
  #464  
 
Join Date: Jun 2013
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Originally Posted by BugsyPal View Post
This is the automatic "Pay Over Time" where any qualifying charge made on your AMEX is moved over soon as it posts, not at say end of your billing cycle. Worse you'll begin accruing interest from day one charges are moved over to POT (no grace period). Also once you've moved something over to POT that's it, cannot get it back out.
Unless you already have a POT balance, POT direct will *not* accrue interest charges from day one. As long as you always pay your balance in full (as you should on a charge card), you will not pay any interest, no matter what version of POT you have activated.
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Old Feb 20, 20, 4:55 pm
  #465  
 
Join Date: Sep 2014
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Originally Posted by blaz View Post
Unless you already have a POT balance, POT direct will *not* accrue interest charges from day one. As long as you always pay your balance in full (as you should on a charge card), you will not pay any interest, no matter what version of POT you have activated.
Unless AMEX has changed things, that is now what one recalls from reading offer/terms.

"Interest begins accruing on new purchases on the date they’re added to your Pay Over Time balance. Contact your card’s customer service or look at your guide to benefits to confirm the interest you’ll incur for using either option."

https://www.creditcards.com/credit-c...tions.php#over

Or:

"
And while most charge cards must be paid in full each month, the American Express® Gold Card has a “Pay Over Time” feature that automatically places any eligible balances of at least $100 or more in the Pay Over Time bucket. When your payment is due, you can pay the balance in full or choose to use the Pay Over Time feature to pay less than the full amount with interest. But take note that for any Pay Over Time balance that’s not paid off in full each month, a variable APR will apply, and you’ll still need to make a minimum monthly payment. And interest starts accruing on Pay Over Time balances the day that they’re made."

https://www.creditkarma.com/credit-c...s-charge-card/

Last edited by BugsyPal; Feb 20, 20 at 5:26 pm Reason: Content added
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