Amex's expiration date of promotional interest

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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daniel2304
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Amex's expiration date of promotional interest

Postby daniel2304 » Mon Mar 17, 2014 10:50 am

* The APR for this balance is a promotional rate and it will expire on the date shown. Any balance at a promotional interest rate that has not been paid in full by its expiration date will begin accruing interest at the 'go to' APR shown following the expiration date.

I read again my term and it said like above. Although my billing cycle does not end on that date, does it mean after that date, they will charge interest on any balance? Is it kind of tricky that they advertised for 15 billing cycle and then put this term to hope I slipped my payments?

This is an Amex card.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.


takeshi
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Postby takeshi » Tue Mar 18, 2014 8:37 am

daniel2304 wrote:Although my billing cycle does not end on that date, does it mean after that date, they will charge interest on any balance?

Yup. It means exactly what it says.

daniel2304 wrote:Is it kind of tricky that they advertised for 15 billing cycle and then put this term to hope I slipped my payments?

Seems pretty straightforward since they gave you the specific end date.

daniel2304
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Joined: Tue Dec 03, 2013 1:53 pm
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Postby daniel2304 » Tue Mar 18, 2014 11:03 pm

Thanks takeshi!
I was just confused because the ending date is different from the closing date of the last cycle which I was supposed to have the promotional rate by then. But I already paid in full to have peace in mind. It's been great with Amex.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.



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