How To Unenroll From Amex Pay Over Time (And Why It's a Good Idea) How To Unenroll From Amex Pay Over Time (And Why It's a Good Idea)

How To Unenroll From Amex Pay Over Time (And Why It's a Good Idea)

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American Express has a handy little feature called Pay Over Time that allows for some extra flexibility when it comes to paying off card balances. And even better, Amex frequently sends out targeted offers of up to 30,000 bonus Membership Rewards when enrolling in Pay Over Time. That's a huge haul of points for almost zero work, and it's completely worth it.

There here are a few things you need to know, though, about Pay Over Time and why you should ultimately unenroll from this Amex feature.

Key Points

  • New accounts for flagship cards like The Platinum Card® from American Express are now automatically enrolled in Pay Over Time.
  • Pay Over Time gives you the option to make cards that aren't typical “credit cards” start to function like a credit card.
  • Targeted offers include up to 30,000 bonus Membership Rewards when you enroll in Pay Over Time.
  • Pay Over Time activation may make your card count towards Amex's 4 credit card per user limit.
  • Make sure to unenroll, so you are eligible for future targeted offers.
  • You may also want to unenroll so you don't accidentally end up paying interest charges.

Pay Over Time–A Quick Overview

How To Unenroll From Amex Pay Over Time (And Why You Should)

American Express issues a large array of credit cards, but they also offer several variations of cards that don't have a preset spending limit, as well. This type of card functions exactly like a credit card when making purchases. But, instead of having the ability to carry a balance as credit cards allow, you must pay off the balance each month.

Sometimes, life happens and you may need more time to pay off your balance. American Express offers people with cards that have no preset spending limit the opportunity to enroll in Pay Over Time. With this feature, cardmembers may have more time to pay down their balance for some (but not all) charges. However, you will be charged interest when you apply Pay Over Time and carry a balance.

Cards eligible for Pay Over Time include:

How To Unenroll From Amex Pay Over Time (And Why You Should)

Why You Should Unenroll From Amex Pay Over Time

Reason 1: The 4 Credit Card Limit

Amex allows individuals to hold 4 credit cards and 10 cards with no preset spending limit. There is a rumor claiming that enrollment in Pay Over Time will cause Amex to count the latter type — such as the American Express® Gold Card — as a credit card. As Amex only allows members to carry 4 credit cards at a time, this could make you ineligible for new credit cards.

If you ever find yourself unable to get a new American Express credit card, check that you have deactivated Pay Over Time on your existing cards.

Reason 2: Accidental Interest

The first rule of points and miles is never ever carry a balance. The whole purpose of Pay Over Time is for Amex to make money off of you. In no alternative universe would Amex ever offer such lucrative incentives if there wasn't a huge potential of return for them. With Pay Over Time, the interest charges are quite substantial. Amex is eager to make some money off of you for using this service.

Unenroll from Pay Over Time with Amex so that you don't accidentally get hit with an interest charge. If you are meticulously organized, then maybe you don't have to worry as much. For the rest of us — who can't even remember what we had for breakfast — unenrolling in Pay Over Time is the safest way to avoid accidentally carrying a balance.

How to Unenroll

Fortunately, it's very simple to unenroll from Pay Over Time with Amex. Calling in is one option. You can also chat with customer service. The easiest way is it just click on this link, log in, and select the option to opt out. You'll be unenrolled immediately.

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Final Thoughts

These targeted offers to earn Membership Rewards for doing nothing more than enrolling in Pay Over Time. They are incredibly lucrative and 100% worth doing.

These offers can even outweigh the annual fee of your card. For example, American Express® Green Card comes with a $150 annual fee. If you are targeted for the 30,000 Membership Rewards Pay Over Time offer, it more than outweighs the annual fee. Just make sure you unenroll afterward, so you don't accidentally end up carrying a balance.

Additionally, if you aren't sure whether Pay Over Time is for you, trying it out with a bonus offer attached is a great opportunity. The points you earn can be quite valuable, you get a chance to check out the feature, and then if/when you aren't using it any longer, now you know how to unenroll.

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Comments

  • Had always intended to unenroll, but quickly forgot about it. Thanks for the reminder and the motivating rationale.

  • I have the everyday card and get this offer on some of my charges. I never do it because I pay it off but it’s interesting to know more about this feature. If I ever do it then I think I will carefully think about using it first.

  • I wish I had known that new AmEx Platinum accounts automatically enroll in Pay Over Time! I made two mistakes when I opened my account last year: (1) The automatic payment setup on my Delta credit card and my Marriott credit card did not automatically apply to my AmEx Platinum account, so I missed my first bill payment. (2) The Pay Over Time option was enabled, and I only noticed that after my automatic payment withdrew particularly less than I expected — and I was blaming myself for fat-fingering it when I set up automatic payment for my AmEx Platinum account.

  • Samuel Rhoades says:

    Thank you. Just unenrolled.