When Are American Express Payments Due?
Learn how to find and manage your American Express payment due dates to ensure timely payments and financial health.
American Express cardholders benefit from understanding their payment due dates to manage their accounts effectively. Knowing when payments are due helps avoid unnecessary fees and maintains a positive financial standing. Timely payments are a fundamental aspect of credit card management, influencing interest charges and credit reporting.
Finding Your Amex Payment Due Date
Locating your American Express payment due date is straightforward. The most direct method is to review your monthly billing statement, which displays the due date for the current billing cycle. This information is available on paper statements and electronic statements online.
Cardholders can log into their American Express online account portal. Within the account summary or payment section, the current payment due date is shown. The American Express mobile application also provides this information on the account dashboard.
How Amex Payment Due Dates Are Determined
American Express establishes payment due dates based on the statement closing date, initiating a grace period during which interest can be avoided. The statement closing date marks the end of your billing cycle, accumulating all transactions and charges. This date is displayed on your monthly statement.
American Express provides a grace period of at least 25 days before the payment is due. If the full statement balance from the previous billing cycle is paid by the due date, no interest is charged on new purchases. This grace period is a standard feature for most credit cards, regulated by federal law to be at least 21 days.
If the payment due date falls on a weekend or federal holiday, American Express extends the due date to the next business day. It is advisable to submit payments before the original due date. Many credit card issuers, including American Express, facilitate online payments 24/7, minimizing the impact of non-business days.
Ensuring Timely Amex Payments
Ensuring timely American Express payments involves understanding payment methods and processing times. Online payments, initiated through your American Express account or app, are an efficient way to submit funds. These payments process quickly, especially if linked to a compatible bank account. This rapid processing can free up available credit sooner.
While online payments are fast, the exact time funds leave your bank account can vary depending on your financial institution. Payments submitted late in the day (e.g., after 5:00 PM ET or 8:00 PM MST), or on weekends and holidays, might take longer to fully process. To avoid any delays, it is advisable to schedule payments with sufficient lead time.
American Express also allows cardholders to adjust their payment due date to better align with their financial schedule. This can be done once every three billing cycles through your online account. Navigating to the “Account Services” or “Change Billing Period” section provides the option to select a new, more convenient due date. This flexibility helps cardholders manage finances and avoid late payments.
What Happens If a Payment Is Late
Failing to make an American Express payment by the due date can lead to financial consequences. A late payment fee is assessed if the minimum payment due is not received on time. This fee can range from approximately $29 to $40, or it may be calculated as a percentage of the past due amount, whichever is greater, though it generally will not exceed the minimum payment due.
Beyond late fees, interest charges will begin to accrue on the outstanding balance if the full statement balance is not paid by the due date. When a balance is carried over, the grace period for new purchases is lost, meaning interest will be charged on those purchases from the transaction date. In situations involving repeated late payments or returned payments, a higher penalty Annual Percentage Rate (APR) may be applied to the account.
Late payments impact a cardholder’s credit report. American Express reports late payments to credit bureaus once an account becomes 30 days past due. This negative mark can remain on a credit report for up to seven years, potentially affecting future credit opportunities. Consistent delinquency can also lead to account suspension or even closure by American Express.