Amex Extended Payment
Confirmation email for enrolling in the Extended Eayment option

American Express has sent out an email and mail offer inviting targeted charge card holders to enroll in their Extended Payment Option or Pay Over Time feature. For doing so cardholders can get a bonus of 10k MR points. The offer ends on 04/30/2019 and if you haven’t received an email or offer in the mail, you can try your luck to see if you have been targeted by clicking the link below and signing into your Amex account.

The American Express payment option feature kind of turns your charge card into a credit card for purchases over $100. You will have a minimum payment, which includes all purchases under $100, but purchases over $100 will be added to your Pay Over Time balance, and you will be able to let them roll over to the next month and accrue interest.

Amex even gives you a “credit limit” for your pay over time balance and they are quite generous with it. On the Gold Card I was given a $15k Pay Over Time limit and Mrs. Credit Shifu was given a $35k limit on the Platinum. Mrs. Credit succeeded in getting the $10k MR points from this offer, unfortunately I had already enrolled in Extended Payment when I first got my Gold Card, so wasn’t able to take advantage of it.

Although this is a good opportunity to get some extra bonus points, we do just want to remind readers to be disciplined. There may be other better options to finance large purchases. American Express give me an interest rate of 20.49% for my Pay Over Time balance, so other than in an emergency situation, look at other financing options for large purchases.

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