Understanding Your American Express Statement

American Express statements can be long and complex. Here’s how to decode it, and what you can do if it’s wrong…

Do you have a complaint against American Express because of your bill?  Maybe your bill is hard to understand. Perhaps there are charges that make no sense and leave you puzzled. Does your bill not reflect your recent payment? Maybe you are just not happy with your American Express bill and you are trying to understand the statement. No matter what the reason, we are going to explore how to understand your American Express bill in this article.

Reviewing Your AmEx Bill

Your Online Statement

Prior to 2015, you would receive a monthly statement in the US mail. However, in Sept of 2015 American Express changed its customers to online statements. Account communications are now also performed electronically instead of in the mail. You will use the American Express online bill payment to pay your bill each month. You can also set up automatic payments, so you don’t ever have to worry about a missed payment.  However, many people do not want to conduct business over the internet, so you do have the option of contacting American Express and asking for a paper statement.

Here are some steps to help you understand your online American Express Bill:

  • Log into your online account. You’ll see a colorful graph that has a ‘Spend By’ button. You can select the ‘Pay Over Tie Charges’ that is located in the ‘Transaction Type’ section so you can quickly peruse your Pay Over Time balance and charges.
  • Expand the view on the screen so you can see the ‘Pay in Full,’ ‘Pay in Total’ and ‘Pay Over Time’ Please remember, it will always automatically default to show the ‘Pay in Total’ amounts.
  • As you look down on your bill you will see the amount of interest charged during the current billing cycle which is from the ‘Pay Over Time’ balance that may have carried over from the previous month’s card statement.
  • On the bill, you will be able to clearly see the total amount that you own at the end of your billing period. The amount shown includes your previous balance plus any adjustments to the account like Amex bill payment, new charges, credits, fees, plus interest. Please remember, if you pay the amount due each month by the due date on the card’s online statement then you will not incur any interest charges.
  • At the bottom of the page, you will see the minimum amount that you must pay on your balance which is due by the due date that has been printed on the page. The minimum amount must be paid to keep the account current. The amount is your total ‘Pay in Full’ charges including the ‘Minimum Amount Due’ on the ‘Pay Over Time’ charges. You have the option of paying the entire New Balance or making the Minimum Payment Due. You can also opt to pay another amount.
  • The due date is located at the bottom of the page
  • The last box at the bottom of the page is the Membership Rewards which clearly shows how many rewards you have accumulated on your account.

Your Paper Bill

The paper American Express bill is very straight forward and classic in its simplicity.  You’ll clearly see the total amount you owe on the account that is compiled by the end of the billing period. The previous balance is listed along with any adjustments such as payments, fees, interest, or new charges. The minimum  American Express credit card payment is printed near the bottom of the statement.  It is the amount that you must pay to keep your account current.

The payment must be received by the due date printed on the statement or your account could fall behind. There is a section on the statement that tells you what can happen if you do not send the payment in time or fail to pay the minimum amount due. There is a box on the statement that explains how long it will take to pay off the balance if you only make the minimum payment each month.

The entire second page of your paper American Express bill is a full disclosure explaining how interest is accessed on your balance. Customer service numbers are printed on the statement along with their mailing address. There is information explaining your auto-pay options. There is also a change of address form on the second page of the statement that you can fill out if you are recently moved.

On the third page of your American Express Paper bill, you’ll find a complete summary along with a detailed list of your ‘Pay Over Time’ charges and your ‘Pay in Full’ information. You might see a diamond symbol which means that the charges are eligible for Pay Over Time.

The fourth page of your American Express paper bill covers the total fees and interest that have been charged to your bill. The final section shows the information on your Pay Over Time account such as the limit on your card.

Okay, are none of these contact options working? Now what?

If you cannot figure out your American Express bill, you have tried calling customer service or emailing to get answers, but you are getting nowhere then it’s time to explore other options. If you plan on filing a claim against American Express,  let us help you file a claim so you can avoid the hassle of phone calls, emails, and long, drawn-out chat logs.

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