Updated 7:40pm on 6/4/19: I received a letter from American Express with details of the Pay Over Time benefit. I added the letter to the bottom of this post.
Good morning everyone, I hope you had a great weekend. Every few days/weeks, Doctor of Credit updates his [Targeted] 10,000 Membership Rewards Points For Enrolling In Pay Over Time post with new links to try to get enrolled. The benefit is designed to make American Express charge cards act more like credit cards where you can pay your balance over time. The benefit is bad since you would pay interest on your balance, but the reason people want to enroll in the benefit is because American Express will give you 10,000 Membership Rewards Points just for enrolling in the benefit, regardless if you use it or not. Every time Doctor of Credit updates the post with a new link to try, I check to see if I am eligible, but I am usually shown this error message. But that all changed last week…
Since I am going on vacation soon, I called all my banks and credit card companies to let them know I will be travelling and to put a travel notification on the account. When I called AMEX about my American Express Business Platinum Charge Card, the agent told me that I didn’t need to alert AMEX (most of the banks say the same thing since they can usually tell by your travel purchases that you are travelling, but I usually bring several credit and debit cards that I have not used to book any travel, so I like to give them a heads up anyway). Regardless, out of nowhere, the agent asked if I would be interested in signing up for the Pay Over Time benefit. I asked if there was a bonus for enrolling in the benefit and the agent said yes, I would get 10,000 Membership Rewards Points for enrolling in the benefit. I said yes, please enroll me in that benefit and then the agent proceeded to read a long disclosure. After the call, I received this confirmation email dated May 30.
I then went back to the Doctor of Credit post, clicked on a recent enrollment link, and now it said I was enrolled in the Pay Over Time benefit. Woo hoo!
2 days later on June 1, I saw 10,000 Membership Rewards Points post to my account. The description says “LOC Enrollment/10K MR Points”. I am guessing LOC means Line of Credit, strange that it doesn’t mention Pay Over Time anywhere.
A few days later, I receive this letter with details of the Pay Over Time benefit.
Long story short, if you are not eligible for the Pay Over Time benefit by clicking on the links in Doctor of Credit’s post, try calling American Express and seeing if you are eligible. Make sure you are offered 10,000 Membership Rewards Points before enrolling in the benefit. If you have any questions about the American Express Pay Over Time Benefit, please leave a comment below. Have a great day everyone!
Any chance this would trigger a credit hit?
I doubt it, I have all my credit bureaus frozen and haven’t gotten any alerts from any credit monitoring service. Plus, since you already have your credit limit, you are not asking for addition credit, so no hard pull should be done.
FYI I attempted to get this via chat and was referred to their #.
Did you call the phone number and get anywhere?