How to Unenroll from Amex Pay Over Time
The ‘Pay Over Time’ program is available for some American Express cards. Instead of paying in full at the end of your statement period, you can choose to pay over time, just like any other credit card. Soon, Green, Gold and Platinum Business Cards will be automatically enrolled in “Pay Over Time”.
It’s a good idea to wait for a bonus before enrolling. It is an easy 20,000 or even 30,000 Membership Rewards points at times. And you don’t have to use the feature at all, and you shouldn’t unless you need to. But in order to get targeted for this ‘Pay Over Time’ bonus, you must not be enrolled in the program. If you already are, then it is a good idea to unenroll.
Unenroll from Amex Pay Over Time
You can always contact American Express and ask them to inactivate this feature for your Amex charge cards. But there is also a link where you can easily do this online (https://global.americanexpress.com/lending/pay-over-time). Here you can update your ‘Pay Over Time’ setting and make change the option from Active to Inactive.
This needs to be done separately for each enrolled American Express card. It is not a system wide setting. So if you have more than one Pay Over Time card, you need to repeat this process for each one of them.
On this page you will also notice a Pay Over Time Limit. This is the maximum amount you can carry as a balance with interest. It is not a spending limit.
Eligible Cards
American Express currently offers these “Pay Over Time” cards:
American Express business cards are now automatically enrolled in the Pay Over Time option. So if you open a new card, it is always a good idea to check if you are enrolled and deactivate it.
How Does Pay Over Time Work?
When activated, just make purchases like you normally do. Eligible charges will be automatically added to your Pay Over Time balance, up to your Pay Over Time Limit. In addition, a charge or a portion of a charge may be eligible to automatically move to your Pay Over Time balance on your Closing Date, subject to your Pay Over Time Limit.
You can choose whether you want to pay your balance in full or carry a balance with interest. As you know, carrying a balance with interest is never a good idea.
You won’t be charged interest on purchases added to your Pay Over Time balance when you pay your Account Total New Balance (or your Adjusted Balance, if you have any active plans) each month by the Payment Due Date.
Guru’s Wrap-up
If you do not need this option on your Amex “Pay Over Time” cards, then it’s a good idea to unenroll. It’s not guaranteed that you will receive an offer, but if you do, you can easily earn up to 30,000 Membership Rewards points with no effort at all.
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