No. of Recommendations: 0
Hello all.

After a few years of having no credit card debt, I regret to admit I have some again.

For the last few years I have been using the Amex Blue Cash (which gives back 5% on gas and groceries and 1.5% on everything else) for almost everything, which amounts to about 4K per month. I even pay some bills with it. At the end of the year, it adds up nicely for a decent sized reward.

Recently we had a problem getting water in our basement, which was a health concern, so we opted for a basement system that ran us 5K. I paid it with the Amex, and at the end of the month couldn't stand to part with 9K all at once, so I only paid 7K and left 2K on the balance, realizing I was going to pay a finance charge on that outstanding 2K (which was going to amount to roughly $30, give or take).

Strange thing happened. The next month, when the bill came, Amex said there was no finance charge. I scoured the bill, nothing. I looked at the section which shows your rate (13.25%) and next to that it shows an average daily balance of $0 and as a result, no finance charge ...

So the next month, I do the same thing. I pay all but 2K of the bill ... and once again, no finance charge, 2 months in a row now.

I always though that it worked like this: Once you have a balance, when the bill comes you either pay it off by the due date, or get charged a finance charge on what is outstanding. That doesn't seem to apply with Amex?

Thanks in advance for the help!

Helj
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement