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Unenroll From American Express's Pay Over Time
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October 25, 2024
2
minute read

Unenroll From American Express's Pay Over Time

Maximize Your Rewards with Pay Over Time: A Guide to Earning Bonus Points

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Introduction

Pay Over Time is a feature available on select American Express business cards that allows you to pay your balance over time, with interest. This feature is particularly beneficial for cardholders who want the flexibility of spreading out payments, even though charge cards traditionally require full payment each month.

How You Can Earn Targeted Offer Points

American Express has been offering bonus points to cardholders who enroll in Pay Over Time. But what if you're already enrolled? By unenrolling from Pay Over Time, you can become eligible for these targeted bonus offers when you re-enroll.

How to Unenroll from Pay Over Time to Re-Enroll

Enrolling in Pay Over Time is automatic if your card has the feature. To become eligible for targeted bonus offers, follow these steps:

  1. Unenroll: Log in to your Amex account, go to the "Manage Pay Over Time" section, and select "Pay Over Time Inactive." Submit the changes to unenroll.
  2. Wait for an Offer: After unenrolling, wait to be targeted for a bonus offer to re-enroll in Pay Over Time.
  3. Re-Enroll: Once you receive an offer, re-enroll in Pay Over Time to earn the bonus points. It may take a few days for the points to appear in your account.
  4. Repeat: After receiving your bonus, you can choose to unenroll again to potentially earn future offers.

More Pros for Unenrolling

In addition to being eligible for bonus offers, unenrolling from Pay Over Time has another potential benefit. Some data points suggest that Amex may treat charge cards like regular credit cards if you consistently use Pay Over Time, possibly counting them towards the maximum of five Amex credit cards you can hold. This might limit your ability to open or keep other cards in the future.

Note: These data points are not 100% confirmed.

Frequently Asked Questions

  • Q: Does the Chase Pay Over Time plan hurt my credit?
  • A: It affects your credit the same way as any other credit card balance. The impact depends on how it influences your credit utilization.

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More questions? More answers.

What's the difference between a credit freeze and a credit lock on Experian?
There is no actual difference. By law, a freeze needs to be offered for free. Experian wants to charge you so they offer a freeze for free but for a lock they want you to pay a membership. They both do the same thing
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Bank NameReportsBack Dates
Amex✅❌
Barclay✅✅
Bank of America✅✅
ChaseSometimes✅
Citi✅✅
Capital One✅✅
Discover✅✅
HSBC❌❌
US Bank✅✅
Sample Caption
This is some text inside of a div block.
LoungeAccessGuestsHow to Access
Priority PassFree with enrollment2 free guestsEnroll in Priority Pass. Use the app for entry.
Delta Sky ClubFree with Delta flightNo free guestsShow your card and Delta boarding pass.
Amex CenturionFree2 free guests (starting Feb 2023)Show your card and boarding pass.
Global Lounge CollectionFreeVaries by loungeShow your card and boarding pass.
Escape LoungesFree2 guests or immediate familyShow your card and boarding pass.
Plaza PremiumFree2 free guestsShow your card and boarding pass.
BankMinimum Payment Calculation
American Express PersonalThe greater of these: $40, 2% of the balance excluding interest and fees*, 1% of your balance plus interest and fees*
American Express BusinessThe greater of these: $35, For a balance of $0-$25,000: 1% of the balance plus monthly interest and fees*, For a balance of $25,000-$75,000: 5% of the balance plus monthly interest and fees*, For a balance over $75,000: 10% of the balance plus monthly interest and fees*
Bank Of AmericaThe greater of these: $25, or 1% of the full balance plus the monthly interest and fees
Barclay BankThe greater of these: $27, or 1% of the full balance plus the monthly interest and fees
Capital OneThe greater of these: $25, or 1% of the full balance plus the monthly interest and fees
ChaseThe greater of these: $25, or 1% of the full balance plus the monthly interest and fees
CitiThe greater of these: $25 or 1% of the full balance plus the monthly interest and fees, or 1.5% of the full balance
DiscoverThe greater of these: $35, or 2% of the full balance or $20 plus the monthly interest and fees
SantanderThe greater of these: $25, or 1% of the full balance plus the monthly interest and fees
SynchronyThe greater of these: $25, or $35 if you had any late payments within the last six months, or 1% of your full balance plus the monthly interest and fees
Us BankThe greater of these: $30, or 1% of your full balance plus the monthly interest and fees
Wells FargoThe greater of these: $15, or 1% of the full balance plus the monthly interest and fees
Sample Caption
RATIOTRANSFER PARTNERTRANSFER TIMEENDSTYPE
1:1Aeroplan Loyalty ProgramInstantJuly 31, 2024Airlines
1:1Air France-KLM Flying BlueInstantAirlines
1:1AviosInstantAirlines
1:1Emirates SkywardsInstantAirlines
1:1IHG One Rewards1 DayHotels
1:1JetBlue TrueBlue Rewards ProgramInstantAirlines
1:1Marriott Bonvoy2 DaysHotels
1:1Singapore Airlines KrisFlyer12-24 HoursAirlines
1:1Southwest Rapid RewardsInstantAirlines
1:1United MileagePlusInstantAirlines
1:1Virgin Atlantic FlyingClubInstantAirlines
1:1World of Hyatt Loyalty ProgramInstantHotels
Sample Caption
BankCredit BureauNotes
AmexExperianFor existing Amex cardholders, Amex does not pull your credit for new credit card applications.
AviancaTransUnion
Apple CardTransUnionThey will first only do a soft pull to check if you qualify. If you qualify and accept the offer, then they do a hard pull. Some have had success avoiding the hard pull by freezing TransUnion after the preapproval but before the final decision.
BarclaysTransUnion
Bank of AmericaExperianIf you freeze your Experian report, they will pull your TransUnion credit report.
Capital OneExperian, Transunion, EquifaxIf you freeze one credit bureau, you can still get approved (the credit bureau you freeze cannot be TransUnion).
ChaseExperian
CitiExperian/EquifaxCiti will usually pull your Experian credit report, sometimes Equifax, and sometimes both Experian and Equifax. If you freeze your Experian credit report, you can sometimes request the reconsideration department to pull your Equifax credit report.
CitizensEquifax
DiscoverExperian/EquifaxDiscover will usually pull your Experian credit report, sometimes Equifax. If you freeze your Experian credit report, Discover will be glad to pull from either TransUnion or Equifax. Chat with a rep after submitting the application.
Elan FinancialExperian
HSBCEquifax
Key BankEquifax
SynchronyTransUnion
TD BankExperian
US BankExperianIf you frequently apply for credit cards, first freeze your IDA/ARS bureaus before applying for a US Bank credit card.
Wells FargoExperian/EquifaxIn some states, they pull Experian and Equifax.
OrderCredit CardBankCredit BureauNotes
1Chase SapphireChaseExperianChase is very sensitive to recent inquiries.
2Citi PremierCitiExperian/EquifaxCiti is also sensitive, but you can sometimes request to pull Equifax if Experian is frozen.
3Amex GoldAmexExperianAmex is less sensitive, and they don't pull credit for existing cardholders.
4Barclays ArrivalBarclaysTransUnionLess sensitive, but be mindful of one or two recent inquiries.
Bank NameReportsBack Dates
Amex✅❌
Barclay✅✅
Bank of America✅✅
ChaseSometimes✅
Citi✅✅
Capital One✅✅
Discover✅✅
HSBC❌❌
US Bank✅✅
Sample Caption
BankReports Business Cards?
AmexNo
Bank Of AmericaNo
BarclaysNo, Barclays business cards generally don’t report
Capital OneYes, except the Capital One Spark Cash Plus and Capital One Venture X Business
CitiNo
ChaseNo
DiscoverYes
M&T BankNo
US BankNo
TD BankYes
Wells FargoNo
Sample Caption
IssuerDun & BradstreetSmall Business Financial Exchange (SBFE)Experian BusinessEquifax Business
AmexConflicting data pointsYesNoNo
Bank of AmericaNoYesNoNo
BarclaysNoNoNoNo
Capital OneYesYesYesConflicting data points
CitiYesYesYesYes
ChaseYesYesYesConflicting data points
DiscoverYesNoYesYes
US BankYesNoNoYes
Wells FargoNoYesNoNo
Sample Caption
Minimum Age
Amex13 years old
Barclay13 years old
Bank of AmericaNo minimum age
ChaseNo minimum age
CitiNo minimum age
Capital OneNo minimum age
Discover15 years old
US Bank16 years old
Wells FargoNo minimum age
Sample Caption
RatingCredit Score RangeDescription
Poor<580This credit score is well below the average score of U.S. consumers and demonstrates to lenders that the borrower may be a risk.
Fair580-669This credit score is below the average score of U.S. consumers, though many lenders will approve loans with this score.
Good670-739This credit score is near or slightly above the average of U.S. consumers and most lenders consider this a good score.
Very Good740-799This credit score is above the average of U.S. consumers and demonstrates to lenders that the borrower is very dependable.
Exceptional800+This credit score is well above the average score of U.S. consumers and clearly demonstrates to lenders that the borrower is an exceptionally low risk.
Sample Caption
Very PoorPoorAverageGoodVery GoodExcellent
579619679719779800+
578618678718778799
577617677717777798
576616676716776797
575615675715775796
574614674714774795
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Sample Caption
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