Amex is kind of sneaky how they post charges to your account

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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MemberSince99
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Amex is kind of sneaky how they post charges to your account

Postby MemberSince99 » Sat Jul 20, 2013 11:45 am

I've had it happen twice now in the short time I've had BCP where charges just BAM immediately hit (usually it takes a couple of days) and that's right at closing time. I even timed it so that I had charges on it the day before closing thinking they wouldn't post but guess what - Amex actually posted the NEXT day so that the charges would hit and did. My BCP said the closing date was the 18th but they actually closed on the 19th and so that charge hit.

I don't really know what the hell the point of playing with that is for these lenders. They seem to want to post a balance. I'm just going to make sure I do not use Amex for a week before they say the cut off date is, and then wait until the day AFTER it actually posts to charge anything if I don't want a balance hitting. They will lose swipes with this game but that's cool by me. I'm not using these cards all that much anyway. I may just let a small recurring charge hit the BCP do the same with the Gold and not really use them other than that. I don't know, still making up my mind, but these games don't make me want to pull my Amex cards out.


cashback
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Postby cashback » Sat Jul 20, 2013 11:49 am

You should probably just cancel your Amex cards. They are definitely out to get you.
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Robrus1
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Postby Robrus1 » Sat Jul 20, 2013 11:55 am

I know sometimes it just depends on when the merchants run their batch of payments to process. I don't think the Amex Bear is trying to poke you just for the hell of it. Why are you so worried about a card reporting a balance? Have you been spending too much time at myfico?
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DavidNY
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Postby DavidNY » Sat Jul 20, 2013 1:04 pm

cashback wrote:You should probably just cancel your Amex cards. They are definitely out to get you.


Clearly .

MemberSince99
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Postby MemberSince99 » Sat Jul 20, 2013 3:56 pm

This was a serious post.

Thanks for the insightful, snarky responses. They were worth exactly what I paid for them.

And Robrus1, I try to let one card report a small balance each month for scoring purposes. I think it's totally fair to expect your card to cut off on the date they tell you it cuts on, and not the next day so they can get more of a balance on you. This is credit cards, not Nam, there are rules.

ksy
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Postby ksy » Sat Jul 20, 2013 4:50 pm

I have noticed it happens to me every month I really don't care but it does.... here is an example my bill drops on the 9th spent 489.00 on my PRG on the 9th it posted at midnight on my June statement.

MemberSince99
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Postby MemberSince99 » Sat Jul 20, 2013 4:58 pm

So it's not just me. I don't know if that's good or bad to know. Figured it might be happening to others. I guess Amex is just going to lose some swipes so we can be sure of what reports as a balance. Their loss, the others will no doubt be happy to get the business.

I haven't given them a lot of swipes lately and it's about to get even less. I have no plans to close the cards, but they sure are not becoming the "go to" cards I thought they would. I guess there is a reason for everything.


Reclusive46
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Postby Reclusive46 » Sat Jul 20, 2013 5:50 pm

You do realise how the merchant processing system works right? It has nothing to do with American Express. It depends on when the merchant settles the days transactions. If its after 5pm it will generally be in two days time, if its before it will generally post on the next day. Online transactions work in a similar way but many settle the particular transaction the second the item has been dispatched, thats why Amazon purchases often show next day.

It can take even longer if the transaction is foreign due to time differences and who actually processes the transaction as in some countries a local bank processes the transactions as opposed to Amex (So much for closed loop). I often find it can take 3 or 4 days for a US transaction to show up on my UK card as the 5pm settlement period applies to the cards time zone and not the local one (Although all USA cards use the one time zone, think they just use EST) and this doesn't affect the merchant as they will still usually get paid at the same time.
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MemberSince99
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Postby MemberSince99 » Sat Jul 20, 2013 6:07 pm

Amex changing your cut off date has EVERYTHING to do with Amex. Did you not read/comprehend what I said? Or do you just think I'm lying/making it up like the other lovely individuals in this thread who have nothing better to do than make snarky comments?

Say whatever you want guys I really don't much care anymore. You say the sky is purple? Yeah dude whatever rock the hell on in the free world man! You da man!

I need a life I have realized people suck.

flan
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Postby flan » Sat Jul 20, 2013 6:07 pm

Reclusive46 wrote:You do realise how the merchant processing system works right? It has nothing to do with American Express. It depends on when the merchant settles the days transactions. If its after 5pm it will generally be in two days time, if its before it will generally post on the next day. Online transactions work in a similar way but many settle the particular transaction the second the item has been dispatched, thats why Amazon purchases often show next day.

It can take even longer if the transaction is foreign due to time differences and who actually processes the transaction as in some countries a local bank processes the transactions as opposed to Amex (So much for closed loop). I often find it can take 3 or 4 days for a US transaction to show up on my UK card as the 5pm settlement period applies to the cards time zone and not the local one (Although all USA cards use the one time zone, think they just use EST) and this doesn't affect the merchant as they will still usually get paid at the same time.


Amex was pretty clear when I talked to them about this issue that they bill by the transaction date. So if your closing date is the 18th, and they authorize a charge at 11:59 pm, they'll wait to generate the statement until the transaction posts, or the auth expires. Most people are not horribly obsessed with giving the credit card companies money *before they even ask for it*, and don't care.



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