Pay Over Time is a feature on select American Express business cards which allows you to pay your balance overtime, with interest.
When you use an Amex business card that features Pay Over Time, your purchases will automatically go into your Pay Over Time account, up until the end of the Pay Over Time period.
At the end of a billing cycle, you can choose whether to pay up your full credit card balance or whether to leave some balance in your Pay Over Time account, so that you can pay it up slowly with interest.
Pay Over Time is found on Charge cards. Charge cards are different from credit cards in that the balance on charge cards must be paid in full every month, which is why Pay Over Time is an exciting feature for a charge card holder who wishes to pay their balance over time.
Pay Over Time can be found on the Amex Business Centurion, The Business Platinum Card from American Express, American Express Business Gold Card, Business Green Rewards Amex Card, Business Centurion, Business Gold Rewards, Amex Business Green, Executive Business, Small Business and Business Purchase Account Cards.
Recently, Amex has been targeting cardholders with bonus points for enrolling in Pay Over Time.
But how can you get those offers if you are already enrolled in Pay Over Time?
By unenrolling from Pay Over Time, you can earn bonus points before you enroll again.
How you can earn targeted offer points
Enrolling in Pay Over Time is automatic. If your card has the feature, you are automatically enrolled, unless you change your account settings and inactivate Pay Over Time.
If you would like the chance of earning targeted bonus offers for enrolling in Pay Over Time, you need to first unenroll yourself
Once you are unenrolled from Pay Over Time, you can wait to be targeted for an offer that you get for enrolling in Pay Over Time. If you are targeted for an offer, just re enroll and you will get the bonus.
Once you re enroll, wait to earn the bonus points. It may take a few days to actually earn the points.
After you earn the bonus, you can choose to unenroll again from Pay Over Time so that you can earn future offers.
How to unenroll from Pay Over Time to re enroll
To unenroll, log in to your account here and go to Manage Pay Over Time. Choose the option of Pay Over Time Inactive, versus Pay Over Time Active. Once you submit the changes you will have been unenrolled.
Now you can wait to be targeted for offers to earn 10k-30k bonus Amex points!
More pros for unenrolling
Besides being eligible for targeted offers, you can also benefit in another way by unenrolling from Pay Over Time.
The only cards that feature Pay Over Time are charge cards, since credit cards always allow you to pay your balance over time with interest. Some data points suggest that Amex may start looking at your charge cards as regular credit cards if you keep paying your balances with Pay Over Time, and that Amex will include the charge cards as part of the max 5 Amex credit cards you can have. This might limit the cards you can keep or open in the future.
These data points are not 100% guaranteed.