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Paying Amex 15 or 25 days after billing?

Discussion in 'American Express Membership Rewards' started by Hanoi IG, May 15, 2017.

  1. Hanoi IG

    Hanoi IG Level 2 Member

    OK, AMEX has had me paying 15 days after billing, though I can go 25. I just switched to 25. Isn't it always better to pay as late as possible?
  2. Craig

    Craig Level 2 Member

    Why would it be better to pay as late as possible?

    I pay all of my balances off prior to the statement cutting, occasionally leaving $1 or $2 so the statement closes with an amount I will pay off after the statement closes (just to potentially appease lenders - not sure if there is any proof to this). But I can't think of a time where I actively tried to keep a balance for as long as possible on a card...
  3. labboypro

    labboypro Chief Factotum

    If your argument is based on time value of money, a lifetime of delayed AMEX payments will probably net you an extra $5 in interest. You're not going to get rich on the float. That's AMEX's game to play.
  4. Hanoi IG

    Hanoi IG Level 2 Member

    No, I'm just saying why not pay as late as possible so that any income is received and I don't have to liquidate any assets? What possible gain is there to paying ten days earlier?
  5. Hanoi IG

    Hanoi IG Level 2 Member

    Just to make certain that I have any possible income received before paying. Not a big deal. Also why should AX get my money early? Banks are evil so why abet them?
  6. MileHighYuppie

    MileHighYuppie Level 2 Member

    I (and Warren Buffett) beg to differ.

    I still don't understand the need to start entire threads to ask questions that you already have the answer to... Yes, receiving money earlier is better than later. Yes, paying money later is better than earlier.
  7. labboypro

    labboypro Chief Factotum

    You and Warren float a lot more than many board members. When we're looking at 1-2% ROI on simple MSing, if you're calculating float on top of that, you must be moving money in the range of small country GNP. Congratulations on being able to operate at that scale.

    As for ALWAYS paying later, a friend who uses several local vendors for work materials (eg, plumbing supply)... while they don't get discounted net terms, they do get favorable treatment for being fast pays. When they need a special part that is low stock, vendors sometimes pull from other buyer's orders to fill. Paying early can have an up side.

    /2 cents
  8. Hanoi IG

    Hanoi IG Level 2 Member

    OK Sorry I started this. I wish we were able to delete our posts. Now I have to find something constructive or helpful to post to make up for this.
  9. MileHighYuppie

    MileHighYuppie Level 2 Member

    lol if you're not able to comprehend the value in this game of a negative interest loan on a limitless, non-reporting card then I'm certainly not going spell it out for you

    Never said "ALWAYS". But last time I checked Amex wasn't offering bonus MR for paying early nor were they offering to give me someone else's points for doing so. :)
  10. labboypro

    labboypro Chief Factotum

    I see we have condescending asses here too. Welcome to my ignore list. You're first.
  11. Hanoi IG

    Hanoi IG Level 2 Member

    See that's why I wish I could delete a post. It turns into the kind of posts best reserved for Herr Strumpf.
  12. AnyNameYouWish

    AnyNameYouWish Level 2 Member

    Hanoi-don't sweat it. Seriously. Just tune out all that noise. You can't make everyone happy so don't exhaust yourself trying. I always question the motivation of people who feel the need to mock others for questions. Bad day maybe. Obviously this was you wanting to double check your thoughts by bouncing it off of others. Happens all the time.

    My only concern in paying as late as possible is if it is somehow missed. I think a late fee could usually be reversed but I'd be kicking myself in the rear.
  13. PurpleSquirrel

    PurpleSquirrel MS Nuts

    Unless you are paying hundreds of thousands of dollars, the interest saved would be minimal for the additional 10-15 days. I'd rather focus on other money generating activities.

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