With Pay Over Time*, you could make eligible business purchases on your Card, which will automatically be added to your Pay Over Time balance, up to your Pay Over Time Limit. You may carry a balance with interest, up to your Pay Over Time Limit. You can pay for these charges in full each month, the minimum due or any amount in between with interest. You must pay in full any charge or a portion of a charge that is not added to a Pay Over Time balance. This allows you to conserve cash-on-hand by spacing out payments which could come in handy when making big (or small) purchasing decisions for your business.
*Terms & Conditions:
Eligible Charges: Eligible charges made by you or any Additional Card Member on your account can be paid over time. The following types of charges are ineligible for Pay Over Time: Cash and Express Cash, American Express® Travelers Cheques and other cash equivalents, certain insurance premiums, casino and other gambling transactions, any fees owed to American Express except foreign transaction fees, and other transactions designated by us. In addition, statement credits for eligible purchases, or any reversals of a statement credit, may be applied to either your Pay Over Time balance or Pay In Full balance regardless of where the eligible purchases originally posted. Any charge subject to a foreign transaction fee is not eligible to be moved to Pay Over Time on your Closing Date.
Pay Over Time Settings: Pay Over Time has two settings, On and Off. When set to On, eligible charges will be automatically placed in your Pay Over Time balance, up to your Pay Over Time Limit. When set to Off, no new charges will be included in your Pay Over Time balance. You can change this setting by visiting your online account or calling the number on the back of your Card.
Interest on your Pay Over Time balance: For charges added automatically to a Pay Over Time balance, at the time they post to your account, we charge interest beginning on the date of each charge. For charges that we automatically move from your Pay in Full balance to your Pay Over Time balance on your Closing Date, we charge interest from the day after they are added to your Pay Over Time balance. We will not charge interest on charges automatically added to your Pay Over Time balances if you pay your account Total New Balance by the Payment Due Date each month. If at the time you turn on Pay Over Time, you’re already carrying a Pay Over Time balance from your last billing period, we will charge interest on new eligible charges added to a Pay Over Time balance from the transaction date. However, for charges that we move from your Pay In Full balance to your Pay Over Time balance on your Closing Date, we will charge interest from the day after they are added to your Pay Over Time balance. You must pay in full, by the Payment Due Date, any charge or portion of a charge that is not added to a Pay Over Time balance.
Pay Over Time Limit: We assign a Pay Over Time Limit to your Account. Your Pay Over Time Limit is the maximum amount you may carry as a balance. We may increase or decrease the amount of your Pay Over Time Limit and will tell you if we change that amount. Your Pay Over Time Limit may be different than the total amount you are allowed to spend on your Card. You must pay at least the Minimum Payment Due by the Payment Due Date each month to keep your account in good standing. The Minimum Payment Due includes all Pay in Full charges, any interest accrued on your account and a portion of your Pay Over Time balance.
No Preset Spending Limit: No Preset Spending Limit means your spending limit is flexible. Unlike a traditional Card with a set limit, the amount you can spend adjusts based on factors such as your purchase, payment, and credit history.