Author Topic: Misc Credit Card Questions  (Read 615597 times)

Offline Boruch Parnes

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Re: Misc Credit Card Questions
« Reply #9165 on: February 06, 2020, 09:26:56 AM »
Just block Amex so they can't bother you as otherwise they will call every single day about accounts that don't even have anything due just because the system override let you go over the limit so its flagging your account as one they must call now.

Also, paying by 8PM MST (10PM EST) on the due date is most important in order to prevent late payment penalties and interest, credit score reduction, loss of Amex rewards, and loss of system override.  Its better just to pay and let it bounce at the bank once and pay the $36 fee to bank and $36 fee to Amex for the overdraft than to pay late.

We recently ran into this issue where we had due date on a Thursday so we waited until 9:10pm EST to pay it hoping it wouldn't post until the following week as we'd have the money in the bank come that following Monday.  The next day on Friday the account was clear and we billed a lot of new charges to the account.  Even Monday we rebilled a bunch of additional charges to the account so much that we maxed card $300K above its limit seeing that the system override was in full effect.  It wasn't until 2 business days into the following week that we saw the $36 overdraft fee on Amex side but by then we had new posted charges taking the balance $300K above its limit and that was after counting the payment that eventually cleared the following week on the 2nd attempt Amex made.  We earned all the rewards and account shows as clear and all we had to pay was the $36 twice.

Based on our experiment/experience, paying on due date by 8PM MST is a must.  Amex will reattempt for total of 3 times before it will go down as a no payment.  2x$36 = $72 in Overdraft fees are much better alternative than late payment penalties and interest, credit score reduction, loss of Amex rewards, and loss of system override.  When you pay just know it will take about 2 business days for them to find out it bounced so you have all that time to charge the card up some more so if you have vendors that want money, get them to accept the Amex with markup.  That way you are postponing that money coming out of your bank.  Also, for the new charges, place them the day after statement date so that way you have 29 days until they post as due.

These are all the best tricks to managing Amex calls and card payments.
returned payments is a red flag   dont think its smart unless your ready for a f/r

Offline hvaces42

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Re: Misc Credit Card Questions
« Reply #9166 on: February 11, 2020, 11:46:33 PM »
Got new AMEX card with 50k SUB for $4k spend. Was looking to make approximately $1k purchase during the first weeks that I have the card. The merchant wanted PayPal payments first as an invoice then through eBay. Both times he got the standard PP message about 21 days until funds clear, which he was unhappy about. So first charge was $995 which he refunded. Second charge was $1050 which he refunded again. Finally was able to make purchase from different merchant for $1k even. Coupled with some other charges it seems I hit the $4k and the SUB posted. Im terrified that AMEX will shutdown because it looks bad. What to do? Call Amex and explain or wait and see if they do anything. I have emails back and forth with the merchant about his dissatisfaction and crediting the charges.
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Offline Joel2

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Re: Misc Credit Card Questions
« Reply #9167 on: February 12, 2020, 01:26:58 AM »
Got new AMEX card with 50k SUB for $4k spend. Was looking to make approximately $1k purchase during the first weeks that I have the card. The merchant wanted PayPal payments first as an invoice then through eBay. Both times he got the standard PP message about 21 days until funds clear, which he was unhappy about. So first charge was $995 which he refunded. Second charge was $1050 which he refunded again. Finally was able to make purchase from different merchant for $1k even. Coupled with some other charges it seems I hit the $4k and the SUB posted. Im terrified that AMEX will shutdown because it looks bad. What to do? Call Amex and explain or wait and see if they do anything. I have emails back and forth with the merchant about his dissatisfaction and crediting the charges.
Are you still in the 90 days since sign up?

Offline hvaces42

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Re: Misc Credit Card Questions
« Reply #9168 on: February 12, 2020, 06:23:55 AM »
Are you still in the 90 days since sign up?
Yes
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Offline Joel2

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Re: Misc Credit Card Questions
« Reply #9169 on: February 12, 2020, 07:48:33 AM »
Yes
Start using the the new card exclusively for everyday purchases that will total to 3k+ which combined with the original 1k will get you over the minimum spend requirement.
Amex is very strict about any refunds and will claw back the question is only when.. so I suggest you start using this card to get more spend to achieve a real spend without any refunds all in the 90 day period.

Offline hvaces42

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Re: Misc Credit Card Questions
« Reply #9170 on: February 12, 2020, 07:58:11 AM »
Start using the the new card exclusively for everyday purchases that will total to 3k+ which combined with the original 1k will get you over the minimum spend requirement.
Amex is very strict about any refunds and will claw back the question is only when.. so I suggest you start using this card to get more spend to achieve a real spend without any refunds all in the 90 day period.
I will hit 4k spend anyway so not worried about that. Just concerned that the SUB posted already.
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Offline Joel2

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Re: Misc Credit Card Questions
« Reply #9171 on: February 12, 2020, 08:07:31 AM »
I will hit 4k spend anyway so not worried about that. Just concerned that the SUB posted already.
As long the full spend is met after any refunds or returns within the 90 days then it's all good.
Amex will only look at your account after 90 days to make sure you actually met the full amount

Here is a the exact words on amex T&C

Eligible purchases are purchases for goods and services minus returns and other credits.

Offline eis517

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Re: Misc Credit Card Questions
« Reply #9172 on: February 12, 2020, 09:36:24 AM »
I live in Canada (YYZ, but am a US citizen) and generally use miles to fly to Israel and MIA/FLL. Therefore, I am limited to Air Canada, Elal and WestJet. I currently have about 800K UR and I am able to pay my tuition on credit card, so am looking for one or two CC's to sign up for to pay my  tuition with and get a good sign up bonus. My question is: Should I keep piling up UR and stay int eh Chase network, or does it make sense to get a Citi Thank You card? If it is the Citi route, which two cards make the most sense?

Offline ShmuliT

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Re: Misc Credit Card Questions
« Reply #9173 on: February 12, 2020, 03:45:49 PM »
Recently signed up for the Amex Delta Gold via a mail offer for 70k.
Generally this card has 1st year free, but my offer didnt mention that and I was billed.
Any tips to getting the fee waived?
The points for spend have already posted, can I just close the card?

Offline dealtastic

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Re: Misc Credit Card Questions
« Reply #9174 on: February 12, 2020, 06:00:31 PM »
If you are closing the account now, you are potentially forfeiting the points. It's in the terms.

Offline Boruch Parnes

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Re: Misc Credit Card Questions
« Reply #9175 on: February 12, 2020, 06:34:17 PM »
Recently signed up for the Amex Delta Gold via a mail offer for 70k.
Generally this card has 1st year free, but my offer didnt mention that and I was billed.
Any tips to getting the fee waived?
The points for spend have already posted, can I just close the card?
tried calling?

Offline ShmuliT

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Re: Misc Credit Card Questions
« Reply #9176 on: February 12, 2020, 06:41:31 PM »
tried calling?
Not yet.
Want to know what to say before calling!

Did chat and they said they are opening an investigation and i will get a response in 6 to 8 weeks.

Offline simplicity

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Re: Misc Credit Card Questions
« Reply #9177 on: February 12, 2020, 08:52:47 PM »
If you are closing the account now, you are potentially forfeiting the points. It's in the terms.
they have no way of getting the points back if itís a third party, in this case delta

Offline thebudgetdeals

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Re: Misc Credit Card Questions
« Reply #9178 on: February 12, 2020, 08:59:12 PM »
they have no way of getting the points back if itís a third party, in this case delta
With Amex???? You can get a bill in 2 years from now for $700 for the 70,000 Delta points you werent entitled to

Offline RebTuvia

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Re: Misc Credit Card Questions
« Reply #9179 on: February 13, 2020, 02:38:46 AM »
With Amex???? You can get a bill in 2 years from now for $700 for the 70,000 Delta points you werent entitled to
Do you know of such a case?