With some American Express cards, you can pay it off with the Pay It Off Plan feature. The Plan it feature is comprised of two components: Pay it off: This allows you to easily pay all past due charges through your American Express card.
Plan it: This allows you to organize future purchases of over $100 into a single payment plan. Once the plan has been approved, your credit limit will increase automatically. If you are a cardholder, this may be a good way to keep balances low, especially if you make few purchases per month. If you are not a cardholder, it might be worth it to purchase an additional card with a higher limit.
For consumers, these features can provide peace of mind because it will prevent Chargebacks and unauthorized transactions. They are not as common with cards issued by many other financial institutions. When you make a Chargeback, it means the credit card company disputes a transaction because they have received an incorrect amount for a particular purchase or a delay in making a transaction that caused the transaction to be reversed.
To prevent Chargebacks, you can look for the optional features listed on the card. You can also get the card from the American Express card issuer or online.
When you purchase the card, you should check to see if the card comes with Chargeback Protection. If it does, it will protect your finances. Your card will report any Chargeback Transactions and will stop payments from being sent to any company responsible for the Chargeback. The reporting period is usually 60 days. If you don't want to get a new card, then you can keep the one you currently own.
American Express Chargeback Protection is very valuable to consumers who regularly purchase products and services on credit or debit cards. It is very important to stay aware of how your card works and what is covered under your protection plan.
Most of the American Express cards come with two protection plans. If you are a cardholder and you do not use your card, you should consider purchasing another credit card so you can still pay for purchases on time.
If you use your card frequently, there are several prepaid cards on the market that allow you to purchase items and travel using the prepaid card. These cards are a popular choice for consumers who rarely use their credit cards. The prepaid cards are easy to carry and you can use . . . . . . them at ATM's, gas stations and even on public transportation.
American Express chargeback protection may be more expensive than other cards, but they offer protection for a few reasons. If you purchase an optional account that allows you to make purchases through the card and pay with the prepaid card, you could be covered under your protection plan. They also allow you to keep track of your payments.