I incurred some unexpected expenses last month in the amount of $5000. I did not have the cash at the time so I put the expenses on my Amex card. I still do not have the cash and cannot pay the balance off in full this month. I will be able to make a partial payment, and I will be able to pay it off in full next month.
I have had credit cards for about 6 years now but I have never not paid one off in full. These might be dumb questions, but what do I do? Do I need to call Amex? Is there anything else I need to do on my end? What is going to happen from the interest side of things?
If you need any more info please let me know in the comments. I am not very well versed in personal finance.
Edit 1: Minimum payment is listed as $4,491.15. It’s unlikely I’ll be able to swing that.
Edit 2: The unexpected expense was the AC in my home. I’m thinking the minimum payment is so high because I have a balance of ~$6k and 5k of that came from one purchase... That is something I will definitely ask them about.
Submitted June 09, 2021 at 11:59AM by Theguitarlord https://ift.tt/3cvMyQr
