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  • FIRST POST
    • asm3k1
    • By asm3k1 8th Apr 18, 7:50 PM
    • 7Posts
    • 1Thanks
    asm3k1
    Amex business charge card late payment
    • #1
    • 8th Apr 18, 7:50 PM
    Amex business charge card late payment 8th Apr 18 at 7:50 PM
    Hi

    I have an Amex Gold business charge card, what happens if I can not make the payment on time? I will have the money in 1-2 months.
Page 1
    • Chino
    • By Chino 8th Apr 18, 9:02 PM
    • 609 Posts
    • 330 Thanks
    Chino
    • #2
    • 8th Apr 18, 9:02 PM
    • #2
    • 8th Apr 18, 9:02 PM
    The Terms and Conditions refer to a £12 late payment fee, but why not ask American Express?
    https://www.americanexpress.com/uk/content/need-help/contact-us.html?inav=gb_utility_contact
    • A4445
    • By A4445 8th Apr 18, 9:13 PM
    • 849 Posts
    • 396 Thanks
    A4445
    • #3
    • 8th Apr 18, 9:13 PM
    • #3
    • 8th Apr 18, 9:13 PM
    I expect your account will be suspended if you fall behind with payments.
    • maxximus75
    • By maxximus75 9th Apr 18, 12:09 AM
    • 159 Posts
    • 53 Thanks
    maxximus75
    • #4
    • 9th Apr 18, 12:09 AM
    • #4
    • 9th Apr 18, 12:09 AM
    Being a charge card it is expected to be cleared in full, each month.

    Being two months late will cost you in late charges, possible a suspension or cancellation of the account and you will have late/missed payment marks on your credit file making it harder to obtain credit in the future.

    This can also spook any other creditors you may have causing adverse action from them.

    If there is no way you can make the payment I would suggest speaking with them to see if you can come to some arrangement.

    However, if you don't pay as per your terms of your account, I would have thought the missed payment markers will still apply.

    Good luck.
    • Chippi
    • By Chippi 9th Apr 18, 10:17 AM
    • 12 Posts
    • 4 Thanks
    Chippi
    • #5
    • 9th Apr 18, 10:17 AM
    • #5
    • 9th Apr 18, 10:17 AM
    Call amex and ask for a deferral. If you have a long history with amex, and a convincing reason for why you can pay the statement in 1-2months, they can easily defer the due date as a one-off.

    I'm appalled at the above replies. OP's not late with payments yet. Read again and stop scaremongering.
    • PeacefulWaters
    • By PeacefulWaters 9th Apr 18, 10:28 AM
    • 8,318 Posts
    • 10,672 Thanks
    PeacefulWaters
    • #6
    • 9th Apr 18, 10:28 AM
    • #6
    • 9th Apr 18, 10:28 AM

    I'm appalled at the above replies. OP's not late with payments yet. Read again and stop scaremongering.
    Originally posted by Chippi
    The OP has clearly stated an intention to pay late.

    Posters have merely clarified the consequences.

    That's hardly appalling.
    • Chippi
    • By Chippi 9th Apr 18, 11:11 AM
    • 12 Posts
    • 4 Thanks
    Chippi
    • #7
    • 9th Apr 18, 11:11 AM
    • #7
    • 9th Apr 18, 11:11 AM
    The OP has clearly stated an intention to pay late.

    Posters have merely clarified the consequences.

    That's hardly appalling.
    Originally posted by PeacefulWaters
    OP said "if", not "when". "If" is not a clear intention.

    Posters jump to consequences because they have no experience outside of paying their full monthly balance, so they just quote textbook statement scripture, as if OP doesn't have his own statement at hand. Let's show a bit of intelligence guys.
    • PeacefulWaters
    • By PeacefulWaters 9th Apr 18, 11:21 AM
    • 8,318 Posts
    • 10,672 Thanks
    PeacefulWaters
    • #8
    • 9th Apr 18, 11:21 AM
    • #8
    • 9th Apr 18, 11:21 AM
    OP said "if", not "when". "If" is not a clear intention.
    Originally posted by Chippi
    "I will have the money in 1-2 months".

    Posters jump to consequences because they have no experience outside of paying their full monthly balance, so they just quote textbook statement scripture, as if OP doesn't have his own statement at hand. Let's show a bit of intelligence guys.
    It's a charge card where full balance is a requirement.

    Your use of the word "appalling" is ridiculous.
    • jpsartre
    • By jpsartre 9th Apr 18, 12:42 PM
    • 3,602 Posts
    • 2,281 Thanks
    jpsartre
    • #9
    • 9th Apr 18, 12:42 PM
    • #9
    • 9th Apr 18, 12:42 PM
    I'm appalled at the above replies. OP's not late with payments yet.
    Originally posted by Chippi
    The OP asked what would happen if he is late paying and people told him. I fail to see what's appaling about that.
    • okigen
    • By okigen 9th Apr 18, 8:31 PM
    • 9 Posts
    • 2 Thanks
    okigen
    I was once late by 2 days and they suspended my account.

    It was a corporate card though, so thankfully my personal credit history was unharmed.
    • maxximus75
    • By maxximus75 9th Apr 18, 11:52 PM
    • 159 Posts
    • 53 Thanks
    maxximus75
    Charge cards are a completely different kettle of fish due to their very nature of not being a revolving finance product that can have more flexibility.

    Yes the OP did ask what would happen but then stated they will have the money in 1-2 months.

    The other posters including myself, have answered the OP with the information being sought.

    There was nothing "appalling" about the replies or any "scaremongering", just the facts and seriousness of such an action along with guidance.
    • asm3k1
    • By asm3k1 12th Apr 18, 11:23 PM
    • 7 Posts
    • 1 Thanks
    asm3k1
    It is not for definite as there is a chance I can get a loan but the interest won't be ideal. It may sound silly but the reason I have not asked Amex themselves is that I am afraid to ask incase they decide to suspend/close my account as it is quite important that I have access to my card to make other purchases. I've been with Amex for many years now and the benefits are great so I wouldn't want to lose this. I think we have a decent reason but whether Amex will consider anything I say, I have no idea.

    I guess I am just hoping, there is a chance they have a deferral programme or will excuse this as a one-off.
    • John-K
    • By John-K 12th Apr 18, 11:26 PM
    • 654 Posts
    • 1,024 Thanks
    John-K
    It is not for definite as there is a chance I can get a loan but the interest won't be ideal. It may sound silly but the reason I have not asked Amex themselves is that I am afraid to ask incase they decide to suspend/close my account as it is quite important that I have access to my card to make other purchases. I've been with Amex for many years now and the benefits are great so I wouldn't want to lose this. I think we have a decent reason but whether Amex will consider anything I say, I have no idea.

    I guess I am just hoping, there is a chance they have a deferral programme or will excuse this as a one-off.
    Originally posted by asm3k1
    They will probably suspend or close your account. Amex is not a credit card, you should not be using it if you canít pay it off in full each month.

    Have you anything that you can sell to make the payment, or can you take on some extra work?

    Whatís happened here?
    • Ben8282
    • By Ben8282 13th Apr 18, 4:24 AM
    • 2,474 Posts
    • 1,138 Thanks
    Ben8282
    Amex don't like late payments on their charge cards. You would be much better off getting the loan and paying the charge card on time.
    I believe calling them and asking for a 'deferral' as suggested would be unwise. Have never heard of a 'deferral programme'. Is it some sort of US thing? Deferrals and deferral programmes?
    Don't imagine for one moment that once the first payment is missed Amex will continue to allow you to make the further substantial purchases. They will not let you run up some sort of massive balance on a charge card with a missed payment.
    Last edited by Ben8282; 13-04-2018 at 4:29 AM.
    • asm3k1
    • By asm3k1 15th Apr 18, 10:15 PM
    • 7 Posts
    • 1 Thanks
    asm3k1
    I made a lot of purchases, I have just one active employee, the other is off ill so there is a big backlog processing everything. The main reason is that HMRC has not made a VAT repayment, I have had a VAT inspection for this which has tied my time. I haven't done anything wrong but it has wasted a lot of time and pushed everything back. I wouldn't be able to sell enough stock in time, unfortunately, to pay off six figures.
    • asm3k1
    • By asm3k1 15th Apr 18, 10:18 PM
    • 7 Posts
    • 1 Thanks
    asm3k1
    I did come across on Google some mention of this in the US, it's unclear if this is available in the UK and for a charge card.
    • Ben8282
    • By Ben8282 16th Apr 18, 1:23 AM
    • 2,474 Posts
    • 1,138 Thanks
    Ben8282
    You are a small business with just two employees and have been allowed to run up a SIX FIGURE balance on an Amex charge card? Almost defies belief. I had no idea the amount was so much. They certainly will react pretty quickly if a late payment occurs with that sort of balance outstanding.
    Last edited by Ben8282; 16-04-2018 at 1:25 AM.
    • jonesMUFCforever
    • By jonesMUFCforever 16th Apr 18, 1:57 AM
    • 25,363 Posts
    • 12,584 Thanks
    jonesMUFCforever
    Can you not approach your business banking manager to arrange a short -term overdraft to cover this debt?
    If your books show the business making a profit they should be able to help.
    What goes around - comes around
    give lots and you will always receive lots
    • asm3k1
    • By asm3k1 17th Apr 18, 12:10 PM
    • 7 Posts
    • 1 Thanks
    asm3k1
    Can you not approach your business banking manager to arrange a short -term overdraft to cover this debt?
    If your books show the business making a profit they should be able to help.
    Originally posted by jonesMUFCforever
    I recently changed from a sole trader to a limited company, my bank says they can not offer me an overdraft despite providing accounts, even then I do not think they would offer any way near enough. The odd thing is that I had an overdraft as a sole trader but this was removed despite being the same business essentially. Not a good experience with Santander, almost impossible to get hold of the business manager for anything timely.
    • asm3k1
    • By asm3k1 17th Apr 18, 12:15 PM
    • 7 Posts
    • 1 Thanks
    asm3k1
    You are a small business with just two employees and have been allowed to run up a SIX FIGURE balance on an Amex charge card? Almost defies belief. I had no idea the amount was so much. They certainly will react pretty quickly if a late payment occurs with that sort of balance outstanding.
    Originally posted by Ben8282
    Yes that is my problem not knowing how they will act. As long as you pay off the card you can quickly increase the limit.
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