American Express provided another reminder about why it’s important to always pay your bill on time.
Fellow BoardingArea blogger Grant does us a wise service by reading those seemingly innocuous notices included with credit card paperwork. He noticed something interesting on his most recent American Express Blue Business Plus Credit Card statement.
“Effective September 1, 2019, you will need to pay your bill by the payment due date, otherwise you may forfeit any Membership Rewards Points earned that period.” – Travelwithgrant.boardingarea.com
What a bummer to rack up a big bill during a sign-up bonus period, spend challenge, or just run-of-the-mill charges — and lose all those valuable Membership Rewards Points (or “MRs”).
All of us should pay every bill in full and on time. Late fees and interest charges pretty much negate the value of whatever points we earn.
Which Amex Cards Are Affected?
I don’t yet know if this applies to all Amex MR cards. But let’s be safe and assume it does.
Solutions! Don’t Overextend Your Credit — or Yourself
Don’t take on more credit cards than you can manage — financially and administratively.
Yes, there are almost always great credit card sign-up bonuses (like the Delta Amexes right now through July 2). That doesn’t mean you must take advantage of them all at once. For that matter, limit yourself to one or two every three months. Maybe. If that. Unless you have a lot of money or are an excellent budgeter with fantastic organizational skills. This leads us to —
Pay Your Bill On Time. Always.
Was I ever late paying a credit card?
Yes. I admit it.
Busyness and poor organization caused me to miss a bill. And I paid dearly. Several hundred dollars dearly.
That hasn’t happened again!
Want to get into the travel points and miles credit card game but worry about paying your bills on time? Concerned about APR? Either commit to spending only what you can afford or maybe stay on the sidelines a little longer.
Set a Calendar Reminder — Or Three — To Pay Your Bill
Is your payment due on the 15th of each month? Set a recurring reminder on the 10th or 11th to pay your bill.
Maintaining a spreadsheet to keep track of multiple cards is another popular method, and René posted a sample one that you can download to make sure nothing gets missed each month.
Other Thoughts or Solutions?
Does this new Amex MR verbiage concern you? Do you have any other tips to make sure your bills are always, always, always paid on time? – Chris