American Express Will Automatically Enroll Business Cards in “Pay Over Time”
American Express has an option called “Pay Over Time” for its charge cards. Until now, enrollment was optional, but starting with the November billing cycle, Green, Gold and Platinum Business Cards will be automatically enrolled in “Pay Over Time”. This will apply to both new and existing Card Members.
“While American Express is known for our no pre-set spending limit, pay-in-full charge card model with our iconic Green, Gold and Platinum Cards, we’ve long heard from our Card Members who are small business owners that increased payment flexibility is important to them. This is especially critical during these times of uncertainty,” said Brett Sussman, Vice President of Global Commercial Card Lending at American Express. “Pay Over Time is another step in our broader strategy to provide business owners the flexible solutions they need to easily and efficiently manage payments and cash flow, through varying operating environments.”
Pay Over Time gives business owners the option to either carry a balance with interest on eligible purchases of $100 or more, or to pay the balance in full, providing more flexibility to pay based on what’s best for their business. These Cards will continue to have no pre-set spending limit, tailored to each customer, and Card Members can turn the Pay Over Time feature off and back on at their discretion, giving them greater control of how they want to pay.
Having this option on your Amex charge cards is a good thing, especially during these difficult times. But if you have been following the site for a while you might have noticed some great bonuses that have been offered in the past for enrolling in “Pay Over Time”. It is usually an easy 10,000 Membership Rewards points. The automatic enrollment for now is for business cards only. If you have a personal card, then it’s best to wait for a bonus before enrolling.
Cards that are eligible for “Pay Over Time” are: