AMEX BT Calculations

[_TheTraveller_]

Hey everyone. I had a quick question regarding balance transfers. I had an issue with AMEX today and I just wanted some clarification.

My situation is that I had a card of $2000 and got a BT of $1400. In this situation I wanted to pay a bill that was $1400 but I only had $600 credit left. So in order to maintain the $600 credit for the next statement period I paid/deposit $1400 into the card so I could pay the bill.

I started occurring interest once the statement came. According the CSR, I paid off my BT immediately when I deposited the $1400 regardless whether or not I spent the $1400 by the end of the statement.

Is this correct?

 

[NM]

I would see it as Amex has explained. Your $1400 payment will have been used to offset the BT amount because at the time the payment was made the only outstanding balance was the BT amount. The payment will have been applied immediately, not at the end of the billing period.

 

[_TheTraveller_]

I would see it as Amex has explained. Your $1400 payment will have been used to offset the BT amount because at the time the payment was made the only outstanding balance was the BT amount. The payment will have been applied immediately, not at the end of the billing period.

Fair enough. Lesson learned.