WalletHub, Financial Company
@WalletHub
No, you don’t have to pay off all American Express card every month. Most Amex credit cards allow you to carry a balance from month to month, requiring only a monthly minimum payment to keep your account in good standing. Some even offer 0% introductory APRs. That’s the case with some of the best American Express credit cards like:
- Rates & FeesTerms ApplyBonus Rewards: Blue Cash Preferred® Card from American ExpressBlue Cash Preferred® Card from American ExpressLearn MoreLearn Moreon issuer's website
- Rates & FeesTerms ApplyEveryday Purchases: Blue Cash Everyday® Card from American ExpressBlue Cash Everyday® Card from American ExpressLearn MoreLearn Moreon issuer's website
- Cash Back Rewards: American Express Cash Magnet® CardAmerican Express Cash Magnet® CardLearn MoreLearn More
American Express Credit Cards You Have to Pay Off Every Month
On the other hand, you do have to pay some American Express cards in full every month. These include:
- Rates & FeesTerms ApplyTravel Rewards: The Platinum Card® from American ExpressThe Platinum Card® from American ExpressLearn MoreLearn Moreon issuer's website
- Rates & FeesTerms ApplyDining Rewards: American Express® Gold CardAmerican Express® Gold CardLearn MoreLearn Moreon issuer's website
- Rates & FeesTerms ApplyTravel Perks: American Express® Green CardAmerican Express® Green CardLearn MoreLearn Moreon issuer's website
But there are exceptions. If you have one of those cards and use it responsibly, American Express may offer to let you pay for certain purchases over time. Interest will apply to such purchases, though, at a rate that won’t be disclosed until Amex extends an offer.
You can check out WalletHub’s review of the best American Express credit cards to find a good option for carrying a balance. Just don’t expect to find a low regular APR. American Express credit cards are known more for rewards than low rates. All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.
Blue Cash Everyday® Card from American Express
Amy Nelson, Member
@nelsona_22
It depends on your card. If it's a charge card, then yes.
People also ask
How much is the American Express minimum payment?
The American Express minimum payment is the highest of:
- The interest charged on your statement, plus 1% of your new balance (excluding any overlimit amount, penalty fees, interest charges, or other plan balances).
- 2% of the new balance, excluding any overlimit amount, penalty fees, or other balances.
- $40 (or the full amount you owe if your balance is less than $40).
Cardholders can also find their required minimum payment listed...
read full answerHow long is the American Express credit card grace period?
The American Express credit card grace period is at least 25 days after the closing date of each billing period. That means if you enter a new billing period without an existing balance and make charges on the card, you will have at least 25 days after that billing period closes before interest begins to accrue.
It is important to note that grace periods do not apply to certain balances. Cash advances and balance transfers will start accruing interest immediately, unless...
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