What is your Platinum or Gold charge card statement end date and payment due date? How many days we get to revolve before making a payment.?
New to charge card so when I was reading online it says all charge card payment is due immediately after statement generation so I thought if statement generation date is 28th Jun payment is also due on same day with no gap between generation & due date.
This is how Charge Cards work in Amex with respect to bill payments when comapred to Amex Credit cards:
1) Credits cards have predefined credit limit where as charge cards have dynamic shadow limits.( this we all know..).
2) In Amex India, these are the bill generations date options that are avbailable for us to choose from.
2, 5, 8,11,14, 18, 20, 23, 25, and 28 of every month..
3) Bill Due date is bill generation date + 18 days .
for example , if your bill was generated on 2nd , then bill due date =will be 20th
4) Bill due concept is applicable for both Charge cards and Credit cards.
5) However, the big difference between Credit card and Charge card is:
There is no concept of MAD and EMI in the case of Charge cards.
Means:
For Gold and Platinum charge cards, there is no Minimum Amount Due and converting the bill amount to EMI facility available..
You have to pay the FULL bill Amount, before Due date, otherwie it will be treated as delayed payment and all applicable charges and provisions will apply for the delayed payment , like reporting to the CIBIL as delayed payments, interest charges, dleayed payments charges etc...
Enjoy your Charge card..
Have fun...