AMEX Premium Plus Card interests

GhiVee

Hi everyone,

This is my first post and will sound very silly but I just received my new AMEX card for Avios points (which is dangerous for me with £4,500 credit limit) and I've just been reading the T&C's.

I know it is always recommended that I pay off the outstanding amounts at the end of each month in full, but T&C states that interest will be charged on a daily rate from date of the transaction. So does this mean that I will have to pay interest from Day 1 that I spend money on this card?

Also, if I use AMEX overseas, would avios points be rewarded on overseas transactions?

I'm really keen to save avios points and the companion voucher to use in 2014! It is expensive with £150 annual fee but went through top cash back and should get £60 cash back so with the bonus avios points and this, it somehow balances itself... hopefully.

Thank you!

Bob_the_Saver

GhiVee wrote: »

Hi everyone,

This is my first post and will sound very silly but I just received my new AMEX card for Avios points (which is dangerous for me with £4,500 credit limit) and I've just been reading the T&C's.

I know it is always recommended that I pay off the outstanding amounts at the end of each month in full, but T&C states that interest will be charged on a daily rate from date of the transaction. So does this mean that I will have to pay interest from Day 1 that I spend money on this card?

Also, if I use AMEX overseas, would avios points be rewarded on overseas transactions?

I'm really keen to save avios points and the companion voucher to use in 2014! It is expensive with £150 annual fee but went through top cash back and should get £60 cash back so with the bonus avios points and this, it somehow balances itself... hopefully.

Thank you!

Doesn't this mean when the previous statement has not been paid in full by the due date?

reclusive46

Bob_the_Saver wrote: »

Doesn't this mean when the previous statement has not been paid in full by the due date?

Indeed it does, if you setup the direct debit to pay in full at the end of the month you do not have to worry about interest. On that card I think there is a 50 day grace period.

Avios would normally be awarded overseas although from personal experience, you may struggle to use an American Express in places like Germany and Spain. Despite popular belief I have not had much trouble elsewhere.

GhiVee

Thanks for the clarification!

I couldn't find on the T&C anywhere that there was a 50 day grace period - in Australia, they normally clarify this.

Yeah, I've read that AMEX isn't as popular due to its merchant fees so I hope it's more widely accepted in Aus.