Can you carry a balance on an American Express Gold?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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lav141
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Can you carry a balance on an American Express Gold?

Postby lav141 » Mon Jan 16, 2012 4:18 pm

Hi guys i ran into a problem were i had to charge $10,000 on my card, and it will take me a few months to pay off the complete balance in full. I have the pay over time feature on my card. I will pay more then the minimum amount due every month..will amex cancel my account if i carry this balance for a few months?? thanks


4Runner
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Postby 4Runner » Mon Jan 16, 2012 5:26 pm


Celestine
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Postby Celestine » Tue Jan 17, 2012 12:11 am

lav141 wrote:Hi guys i ran into a problem were i had to charge $10,000 on my card, and it will take me a few months to pay off the complete balance in full. I have the pay over time feature on my card. I will pay more then the minimum amount due every month..will amex cancel my account if i carry this balance for a few months?? thanks


Woah! $10,000.00 on a single transaction? Did you charge a vehicle downpayment on your AMEX Gold?

The link that 4Runner provided for you is a good way start.

Not to be nosy here but when you applied for the AMEX Gold charge card... were you aware of the difference between AMEX charge cards (Green,Gold, Premier Rewards Gold, Platinum, ZYNC) and AMEX credit cards (Blue cards, private labeled cards)?

I mean... I think that is the part where people gets burned.
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

makwa3
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Postby makwa3 » Wed Jan 18, 2012 9:56 am

From my understanding when I received my PR Gold card, it is strictly a charge card and thus must be paid off monthly.

If you are looking for a card that is a charge card but has the option of carrying a balance, I'd look at applying for the Business Plum card, that is if you have an LLC of which you have an EIN. With the Plum, you get rewarded for paying off your monthly statement but have the option to defer a payment and hold a balance for a time.
Credit Cards:
Visa - barclaycardUS White, Nordstrom, 1st Financial Bank
AMEX - PR Gold Card, Delta Reserve Business, Blue Sky, Gold Delta

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Pete838
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Postby Pete838 » Wed Jan 18, 2012 10:03 pm

lav141 wrote:.will amex cancel my account if i carry this balance for a few months?? thanks


No, not if you are complying with the terms of your card member agreement and the pay over time agreement.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
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Postby Money card » Mon Jan 23, 2012 7:20 pm

I think this is a dumb idea. if people would rather pay more for merchandise than they have, they should get a blue, 2% platinum, blue cash, or clear.

the green, gold, gold rewards and platinum shouldn't be pay over time. it should be pay your bill in full, if after they still don't receive the full amount, you get a warning. after that if they still don't receive your payment in full they take your card away from you.

this is what makes American Express premium cards different from Visa, Mastercard, Discover and clear, 2% platinum cash back, blue and blue cash.

I like things the way they use to be.



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