American Express Flexible Payment Option

One of the things that I like about the American Express Platinum card is not one of the many benefits, but the requirement that the bill is paid in full each month. This requirement is because the card is a charge card and not a normal credit card (which allows you to carry a balance from month to month).

Yesterday, I received an email stating that I was selected to enroll in a flexible payment option. The flexible payment option allows the charge to be billed like a normal credit card. The email stated:

Dear Roberto,

As a valued Platinum Card® from American Express Card Member, you deserve choices when it comes to paying your bill each month. We’d like to invite you to enroll in the Extended Payment Option1, a feature that gives you the flexibility to carry a balance with interest or pay in full each month.

Eligible charges of $100 or more will be automatically moved to your Pay Over Time balance up to your Pay Over Time limit. For charges you choose to pay over time, the APR will be a variable rate, currently 19.74%. (The rate assigned will be the same as the current rate for your Select & Pay Later feature.) You still have the option to pay your balance off in full each month.

There is no fee to enroll and you will continue to enjoy all of the benefits of your Card.

Whether you’re booking a vacation, furnishing a new home or paying for something unexpected, the Extended Payment Option gives you the choice of payment flexibility.

Why not take advantage of this opportunity?

American Express Flexible Payment OptionAmerican Express Flexible Payment OptionAmerican Express Flexible Payment Option

Final Word
I will not take advantage of this “opportunity” because it will cost me more money in the long run. A 20 percent interest rate is not something that I want. I understand that this option may be appealing to some people, but American Express can definitely count me out on this one.

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