Amex Payment Question

whitesam81

I recently got an Amex card and have a query regarding payments. I've setup a DD to pay off my bill in full. Am I right in thinking that after 1 month of spending, a statement would be generated. Once this statement has been generated, it'd give me a further X amount of days to pay the full bill, and the DD would be taken before the deadline to pay is up. If that's correct, does anyone know how long the 'grace period' is before interest is incurred on your bill?

Any help's appreciated, thanks.

jay1804

Yes i believe it 56 days interest free. 

Amex take the direct debt before the payment due date, i guess if the direct debt fails you can still make a manual payment.

Btw I have my direct debts set for the minimum, it might be different for full balance

For example my statement date is the 19th.  

- Statement: 19 march 21 
- DD taken: 6th April 21
- Payment due date: 13 April 21

kaMelo

whitesam81 said:

I recently got an Amex card and have a query regarding payments. I've setup a DD to pay off my bill in full. Am I right in thinking that after 1 month of spending, a statement would be generated. Once this statement has been generated, it'd give me a further X amount of days to pay the full bill, and the DD would be taken before the deadline to pay is up. If that's correct, does anyone know how long the 'grace period' is before interest is incurred on your bill?

Any help's appreciated, thanks.

Yes you understand correctly, that's exactly how it works.
The maximum interest free period is up to 56 days but you'll never get that long when paying via DD as it's taken earlier than the payment due date, usually around a week before as jay mentioned above..
 

blue.peter

jay1804 said:

Yes i believe it 56 days interest free. 

Amex take the direct debt before the payment due date, i guess if the direct debt fails you can still make a manual payment.

Btw I have my direct debts set for the minimum, it might be different for full balance

For example my statement date is the 19th.  

- Statement: 19 march 21 
- DD taken: 6th April 21
- Payment due date: 13 April 21

It is the same for full balance payments. As it happens, my dates for this month are exactly the same as yours. I pay in full by DD. (6th April is actually a little later than they'd normally collect, because of the Easter public holiday. Most months, they collect around the 2nd or 3rd.) Since the payment due date is 13 April, I'd have had until then if I paid by some other method.