Quote:
Originally Posted by Flying Ace
But I agree with your point that, those who churn these points like us, the golden rule is: NEVER EVER EVER EVER EVER Carry a balance. EVER.
AMEX is purely a charge card, meaning you owe that amount at the end of the month or you're suspended, and it goes into delinquency and/or collections and have adverse hits on your credit, even if you're $1 delinquent.
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Okay, so this may be the dumbest question of the day but here goes.
The card has an APR. Are you saying if I make a purchase (say for $600), then the next morning I log into my chase account and pay that $600 directly from my checking account with some bank, I won't be charged the APR?
The APR is only charged at the end of the month if you're holding a balance? Is that correct?
If so I've been unaware of this for way too long. And yes I realize my AMEX is a charge card, but I guess I am not well-versed in how to avoid APRs. I am fine with paying for things as I go, I don't carry balances on any of my credit cards.