What is the downside to Amex pay over time?
What is the downside to Amex pay over time? Doing so won't have a significant impact on your credit score, as long as you continue to make your minimum payments on time, but the rapidly accruing interest quickly overshadows the value of any free travel you might be earning.
What happens if you pay too much on Amex?
Overpayment on your credit card does not improve your credit rating or increase your card's limit. If you make an overpayment, the card company will apply the negative balance toward your next statement, but you can also request a refund.
Should I pay off my Amex every month?
Paying your credit card balance in full and on time each month can help you optimize your credit score and avoid certain fees. You'll pay more in interest if you make only the minimum payment each month.
Is 3 credit cards too many?
If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.