Amex gold payment dates

curlyhairsuzy

Sorry if this has been posted before. First Amex gold statement on 24/3. Says payment must be received by 7/4. I always thought you had 30 days to pay the bill not 14 and also in the t&c it says late payment fee is only given when not paid within 30days.
Can someone confirm please.

theburningcat

It's 14 days. I think they put something like maximum of 56 days credit which is if you spend on the first day of the billing period and pay it back on the due date.

lr1277

You haven't mentioned if you have their credit card or charge card.

For my non Amex credit cards, the direct debits are taken out about 3-4 weeks after the statement date. So this gives me the 56 days credit.

Not sure of the time period is different for a charge card.

lr1277

Looking on the Amex website, they only have a charge card that is gold. As far as I know, because it is not a 'credit' card, they don't have to give you the 56 days.

bengalknights

Amex charge cards are 14 days, credit cards are 56 days.

Yawn

curlyhairsuzy wrote: »

Sorry if this has been posted before. First Amex gold statement on 24/3. Says payment must be received by 7/4. I always thought you had 30 days to pay the bill not 14 and also in the t&c it says late payment fee is only given when not paid within 30days.
Can someone confirm please.

It also depends if you pay by direct debit or not. You have less time when you pay by DD (the idea being that you can pay through some other route in case the DD fails).

guesswho2000

Charge cards are ~44 days interest free, entire month plus 14 days give or take. Technically it's indefinitely interest free, as no interest is charged even if you miss the payment, merely a late payment penalty (or whatever they call it).

Credit cards work differently. Not all offer an interest free period at all, nor are any obliged to, though almost all do (I think Lloyds Advance was/is on of the few which doesn't). Those that do will waive the interest if full payment is made by the due date, which works out to be between 40-55 days in general, depending on the company. I say waive, rather than it technically being interest free, as if you miss the payment, are late or don't pay in full, interest is charged from day one, not from day 55, or whatever.

Also, for clarity, Amex do offer a gold credit card in the UK, it's not listed on their website but it is available.

Paully232000

guesswho2000 wrote: »

Charge cards are ~44 days interest free, entire month plus 14 days give or take. Technically it's indefinitely interest free, as no interest is charged even if you miss the payment, merely a late payment penalty (or whatever they call it).

Credit cards work differently. Not all offer an interest free period at all, nor are any obliged to, though almost all do (I think Lloyds Advance was/is on of the few which doesn't). Those that do will waive the interest if full payment is made by the due date, which works out to be between 40-55 days in general, depending on the company. I say waive, rather than it technically being interest free, as if you miss the payment, are late or don't pay in full, interest is charged from day one, not from day 55, or whatever.

Also, for clarity, Amex do offer a gold credit card in the UK, it's not listed on their website but it is available.

Do you mean the moneysupermarket one?

guesswho2000

Paully232000 wrote: »

Do you mean the moneysupermarket one?

Yes (it's the Amex Gold Rewards Credit Card or something if I remember rightly), but they do also offer other gold variants from time to time, such as the Gold companion credit card occasionally offered to Gold Charge Card holders.