Amex Charge Cards To Soon Allow Carrying Balances

One of the most unique things about American Express is their selection of charge cards on top of their normal credit card options.

Until now, the biggest differences between Amex charge cards and credit cards are that the former have no pre-set limit, but you have to pay your balance in full every month.

But starting in October, a major change is coming to charge cards to make them more flexible.

Amex charge cards to allow members to carry balances

After October 13, 2021, you’ll be able to carry a balance with an Amex charge card.

I have the American Express Platinum^® Card, and just got this letter in the mail from Amex:

As you can see, Amex is introducing flexible payment options for charge cards. Now, you can carry a balance on a charge card, whereas previously your balance had to be paid in full every month.

One key feature of charge cards is not changing – you still have no pre-set credit limit on your spending. But there is a limit to the size of balance you can carry over to the next month, which will vary. In my case, it’s $18,500.

The interest I was given is 20.99% on the flexible payment plan system. For any amounts not paid above your limit, the interest remains at 30%.

American Express charge cards.

So, which cards are Amex charge cards? Here’s the full list.

• American Express Platinum^® Card
• American Express^® Aeroplan^®* Card
• American Express^® Business Gold Rewards Card
• The Business Platinum Card^® from American Express

With any of these cards, you can now carry a balance if you need to.

Your thoughts

It’s an interesting new option for Amex charge cards.

But of course, our recommendation is to pay your balance in full, every month, so you can stay away from crushing credit card debt.

If you have an Amex charge card, what are your thoughts?

Let us know in the comments below.