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Always curious about people who carry balances on credit cards and have to pay > 20% interest. Pay it off in full or you will get robbed by these guys.
Could be a change in interest rate or an annual fee being added in.
Per my previous comment, Amex platinum is a charge card with the ability to pay over time. It’s not a true “credit limit” pay over time flexes depending on your charges. Also if you exceed your soft limit all remaining balance is pay in full.
Please don’t run credit card balances and definitely don’t just pay minimums. Minimums are essentially interest only and take YEARS to pay the balance off. If you insist on running a balance there are much better options than an Amex platinum. Living with credit card debt is such a massive waste of money.
Also, to add an Amex platinum isn’t cool. Unless your military or have high spend/large salary it is never worth it. I see so many people making under $100k with an Amex platinum and it’s so stupid. A $700 AF is not worth it. So many people think they’ve “made it” by their card they use.
Rising Star
You likely made more smaller purchases which need to be paid off on the next due date
It may be the case that you are determined as someone in 'persistent debt' (pay more in interest/fees than principal). If so, then they are encouraging you to make larger payments to avoid the risk of financial difficulties.
Amex platinum if matters
I am not saying they don’t want to make money. They obviously want to make money but those charge cards aren’t meant to do that and Amex does look at it adversely. It obviously helps profitability but from a credit risk standpoint, someone regularly carrying balances isn’t Amex’s target market and can be an early indicator of financial issues. Amex targets prime credits with high turn and interchange yields. They don’t make their big bucks off interest on personal cards.
Rising Star
You probably made a payment or redeemed a reward as statement credit that you forgot about the prior month.
Inflation.
Make sure the interest rate hasn't changed. How much did the payment change?
Never carry a balance. Get on a budget. It’s not hard. Don’t be a slave.
Green Dot has reloadable debit cards that you can direct deposit your paycheck, and still use it like a credit card. The monthly fees are $8 a month, and Walmart can reload them for a little under $4. Most credit cards have huge fees, so this might be a problem. Green Dot is a brick-and-mortar bank, whereas the other are financial technology companies, so FDIC applied to GD. Pull your annual credit report to see if there are any bad marks that you can try to have removed.
Most likely the rate increased, since most cards have variable rates, every time there is a rate increase it affects your min pmt