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Bonus points to enroll in Extended Payment Option [USA]

Bonus points to enroll in Extended Payment Option [USA]

Old Jan 14, 08, 4:06 am
  #1  
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Join Date: Dec 2006
Posts: 71
Bonus points to enroll in Extended Payment Option [USA]

I just got a snailmail offer to get 10,000 points to enroll in extended payment option for business platinum. Anyone get this too ? I know this is targeted but anyone know what the APR is ? It does not say.
lakai is offline  
Old Jan 14, 08, 8:49 am
  #2  
 
Join Date: May 2002
Location: LEESBURG, VA, USA
Posts: 225
Originally Posted by lakai View Post
I just got a snailmail offer to get 10,000 points to enroll in extended payment option for business platinum. Anyone get this too ? I know this is targeted but anyone know what the APR is ? It does not say.
Not plat but i have business gold and was offered 1500 for extended payment option. However its interesting that i was offered 5000 for my personal gold few months back.
takhliq1 is offline  
Old Jan 14, 08, 10:14 am
  #3  
 
Join Date: Sep 2007
Location: Del Mar, CA
Programs: Skymiles, AMEX, Bonvoy, IHG Plat, Alaska MVP
Posts: 597
I signed up for this back in 2006 and received I believe 5000MR points. The APR is rather high, around 18-19% percent I believe. I've never used it so I'm not certain.
delmargal is offline  
Old Jan 14, 08, 10:23 am
  #4  
 
Join Date: Jul 2007
Location: Northern CA
Programs: Amex Personal PLT, HHonors Gold, SPG Gold, Hertz Gold, Hyatt Gold
Posts: 52
same here, I got 5000 MR points for signing up back on 2006 with my business platinum. I believe it's Prime plus 10% for balances that are carried.
2thdoc is offline  
Old Jan 20, 08, 12:52 am
  #5  
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Join Date: Dec 2006
Posts: 71
Does the balance automaticly start charging interest on the full amount if payment is not made by "due date" ??? I am sometimes a week late which seems to be fine by amex, I was wondering If enrolling in this I have to start paying interest starting due-date for entire amount, not just selected extended payment charges.
lakai is offline  
Old Jan 20, 08, 8:52 am
  #6  
 
Join Date: Nov 2007
Location: Phoenix, AZ
Programs: WN A-List, Marriott Tit
Posts: 252
promo code or link?
boulderlaw is offline  
Old Aug 3, 10, 6:35 pm
  #7  
 
Join Date: Apr 2010
Location: NYCEWR
Programs: MP(1K) Million Miler, Marriott Plat
Posts: 452
Bonus Point Offers to Accept Option to Extend Payments

I got an offer via email to accept the option to extend payments on my platinum card. I don't plan to use it if I accept, but are there any downsides to accepting the offer?

Last edited by mia; Nov 5, 11 at 4:26 pm
TheCount2 is offline  
Old Aug 3, 10, 7:09 pm
  #8  
 
Join Date: Apr 2002
Location: Bay Area
Posts: 177
Good question...

The only issue I can come up with that *may* be affected is the grace period that AmEx gives on payments. If you have the Extended Payment option, you might be charged interest the immediate day after your bill is due whereas if you do NOT use the Extend Payment option, you might be getting add'l days to pay the bill.

I know the topic of grace periods regarding AmEx charge cards have been discussed numerous times (and quite frankly, I still don't understand how it works), but I don't remember the issue of Extended Payment being brought into the conversation.
Bucko is offline  
Old Aug 3, 10, 10:45 pm
  #9  
 
Join Date: Dec 2009
Location: PHX
Posts: 619
Originally Posted by TheCount2 View Post
I got an offer via email to accept the option to extend payments on my platinum card. I don't plan to use it if I accept, but are there any downsides to accepting the offer?
A while ago there seemed to be anecdotal evidence that those that were getting targeted with financial reviews had the pay-over-time feature turned on on their charge card.

I also got the email offer today and even though the 5000 points are tempting, I think I'm going to pass.
Okto is offline  
Old Aug 4, 10, 6:58 am
  #10  
 
Join Date: Apr 2010
Location: NYCEWR
Programs: MP(1K) Million Miler, Marriott Plat
Posts: 452
I have received this frequently by snail mail over the years.
TheCount2 is offline  
Old Aug 4, 10, 9:00 am
  #11  
 
Join Date: Mar 2006
Programs: UA Silver
Posts: 144
I have also received these offers over the years via snail mail, I have signed up for the extended pay option just for the bonus and often times I had to call in to request the bonus afterwards. Just save the email or any other correspondence including the bonus ID.
detony is offline  
Old Aug 6, 10, 9:50 am
  #12  
 
Join Date: Aug 2008
Location: Bay Area, California
Posts: 272
Is this targeted?
romeoguy is offline  
Old Aug 11, 10, 9:08 pm
  #13  
 
Join Date: Jan 2010
Location: Worldwide
Programs: Amex Plat, BMI Silver
Posts: 401
I received a snail mail notice last week but with no mention of a bonus
angel.x.martinez is offline  
Old Aug 12, 10, 12:57 pm
  #14  
 
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
andrewpartyman is offline  
Old Aug 12, 10, 8:34 pm
  #15  
 
Join Date: Aug 2007
Posts: 95
Originally Posted by TheCount2 View Post
I got an offer via email to accept the option to extend payments on my platinum card. I don't plan to use it if I accept, but are there any downsides to accepting the offer?
I do not know if this continues to be the case, but when I used the feature years ago, all eligible charges were automatically moved to a separate portion of the statement. As a result, the minimum payment due listed on the statement / website was skewed. Just be careful to review the statement carefully so that you are not merely paying the minimum due on charges that were eligible for the sign & travel / extended payment option.
hotelierLA is offline  

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