Part 1 is dated as of 06/30/2026 and names American Express National Bank as issuer
This is Part 1 of 3 of the Card Member Agreement for the Platinum Card from American Express Exclusively for Charles Schwab. The page states it is "As of: 06/30/2026" and names American Express National Bank as the issuer.
Details not recorded for this card
Supporting quotations
Card Member Agreement: Part 1 of 3
As of: 06/30/2026 Issuer: American Express National Bank
Platinum Card® from American Express Exclusively for Charles Schwab
Qualifications & exceptions
The 06/30/2026 date is labeled "As of"; the page does not say whether that is an effective date, a revision date or a print date.
Not stated here
The page does not say when this version takes effect for an existing Card Member.
Charges & Financial Obligations · Company practice
Pay Over Time purchases carry a variable APR of Prime Rate plus 12.74% to plus 21.74%
The Annual Percentage Rate for Pay Over Time is shown as a range: the Prime Rate plus 12.74% up to the Prime Rate plus 21.74%. The table calls it a variable APR and points to the Explanation of Variable Rates.
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Supporting quotations
| Annual Percentage Rate (APR) for Pay Over Time | Prime Rate + 12.74% to Prime Rate + 21.74% This is a variable APR. See Explanation of Variable Rates below. |
Qualifications & exceptions
Variable means the rate moves with the Prime Rate; the separate Explanation of Variable Rates card covers when changes take effect and the 29.99% ceiling.
Not stated here
The table does not say which point in the range applies to a particular Card Member or what decides it.
The table gives no resulting percentage, because the Prime Rate value changes over time.
Charges & Financial Obligations · Company practice
Cash advances carry a variable APR of Prime Rate plus 21.99%
The APR for cash advances is the Prime Rate plus 21.99%. The table says it is variable and points to the Explanation of Variable Rates.
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Supporting quotations
| APR for Cash Advances | Prime Rate + 21.99% This is a variable APR. See Explanation of Variable Rates below. |
Qualifications & exceptions
Interest on cash advances is charged from the transaction date (see the Paying Interest card).
Not stated here
The table gives no resulting percentage, because the Prime Rate value changes over time.
Charges & Financial Obligations · Permission or license
A penalty APR of Prime Rate plus 26.74% can be applied after a missed or returned payment
American Express reserves the right to apply a penalty APR of the Prime Rate plus 26.74% to new transactions in a Pay Over Time balance in two situations: you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date, or your payment is returned by your bank. The returned-payment trigger ends with the words "and we will notify you if we do".
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Supporting quotations
| Penalty APR and When it Applies | Prime Rate + 26.74% This is a variable APR.
We have the right to apply the penalty APR to new transactions in a Pay Over Time balance if: • you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date; or • your payment is returned by your bank and we will notify you if we do.
Qualifications & exceptions
The penalty APR applies to new transactions in a Pay Over Time balance, according to the table.
It is a variable APR, like the other rates in the table.
Not stated here
The table does not say whether the penalty APR also applies to balances that already existed when it is triggered, beyond the words "new transactions in a Pay Over Time balance".
The words "we will notify you if we do" are ambiguous about what "do" refers to (applying the penalty APR or the returned payment), and the table does not say how or when notice is given.
Charges & Financial Obligations · Restriction or exception
Once applied, the penalty APR lasts at least 6 months and ends only after 6 months of timely payments
If the penalty APR is applied, it applies for at least 6 months. American Express reviews the Account every 6 months after that. The penalty APR continues until you have made timely payments with no returned payments during the 6 months being reviewed.
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Supporting quotations
How Long Will the Penalty APR Apply? If the penalty APR is applied, it will apply for at least 6 months. We will review your Account every 6 months after the penalty APR is applied. The penalty APR will continue to apply until you have made timely payments with no returned payments during the 6 months being reviewed.
Qualifications & exceptions
The review is every 6 months after the penalty APR is applied, so the rate can last longer than 6 months if a review period includes a late or returned payment.
Charges & Financial Obligations · User right or choice
Interest-free period on automatic Pay Over Time charges depends on paying in full; cash advances accrue at once
The table says your Payment Due Date is at least 25 calendar days after each billing period closes, and that no interest is charged on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance (or Adjusted Balance, if you have a Plan balance) by the Payment Due Date. The full grace-period section is more specific: charges added automatically to Pay Over Time are interest-free in a billing period only if a listed condition is met, and one listed condition is having paid the Account Total New Balance (or Adjusted Balance with an active Plan It plan) in full by the Payment Due Date for each of the previous two billing periods. Charges automatically moved to Pay Over Time on the Closing Date start accruing interest the day after they are moved. Cash advances are different: interest begins on the transaction date.
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Supporting quotations
Your Payment Due Date is at least 25 calendar days after the close of each billing period. We will not charge you interest on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance on your billing statement (or, if you have a Plan balance, your Adjusted Balance on your billing statement) by the Payment Due Date. If you have Cash Advance on your Account, we will begin charging interest on cash advances on the transaction date.
When We Charge Interest on Pay Over Time and Cash Advance Balances (Grace Period)
For charges added automatically to a Pay Over Time balance at the time they post to your account, we charge interest from the transaction date until they are paid. For charges or portions of charges that we automatically move from your Pay In Full balance to your Pay Over Time balance on your Closing Date, we charge interest from the day after they are added to your Pay Over Time balance until they are paid. However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:
you paid the Account Total New Balance on your billing statement (if any) or Adjusted Balance (if you have an active plan created through Plan It) for each of the previous two billing periods in full by the Payment Due Date shown on each of those billing statements.
Qualifications & exceptions
The table's summary is shorter than the grace-period section, which sets the specific conditions; read them together.
Interest on cash advances starts on the transaction date, according to the table.
Charges & Financial Obligations · Company practice
Plan It charges a monthly plan fee of up to 1.33% of each purchase placed in a plan
A purchase placed in a Plan It plan carries a monthly plan fee (a fixed finance charge) of up to 1.33% of the purchase. The percentage depends on the APR that would otherwise apply to the purchase (or the APR for Pay Over Time when the plan is created, or the lower of the two for a split purchase), the plan duration and other factors. Each plan fee is disclosed before the plan is created, and paying a plan off early means no future plan fees on that plan.
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Supporting quotations
| Plan Fee (Fixed Finance Charge) | A monthly plan fee of up to 1.33% of each purchase placed in a plan based on: either the APR that would otherwise apply to that purchase (for purchases in a Pay Over Time balance), the APR that applies to the Pay Over Time feature at the time you create the plan (for purchases in a Pay In Full balance), or the lower of the two APRs (for purchases that are divided between a Pay Over Time balance and a Pay In Full balance); the plan duration; and other factors.
Each plan fee will be disclosed before you create the applicable plan.
If you pay a plan off early, you will not incur any future plan fees on that plan.
Qualifications & exceptions
The table points to the Plan It section for details; the specific fee for a plan is disclosed when you create it.
Not stated here
The table lists "other factors" without naming them.
The table does not state the minimum purchase size for Plan It; the agreement elsewhere refers to "a specified dollar amount" without giving it.
The Consumer Financial Protection Bureau offers credit card tips at consumerfinance.gov
The table points readers to the website of the Consumer Financial Protection Bureau for tips on factors to consider when applying for or using a credit card.
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Supporting quotations
To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.
Charges & Financial Obligations · Company practice
The annual fee is $895
The Rates and Fees Table lists an Annual Fee of $895 for this Card.
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Supporting quotations
| Annual Fee | $895 |
Qualifications & exceptions
The fee for Additional Cards is separate (see the Additional Card annual fee card).
Not stated here
The table does not say when the annual fee is billed or how a refund works on this page; Part 3 covers refunds.
Charges & Financial Obligations · Company practice
Late and returned payment fees are up to $40 each
The Rates and Fees Table lists a Late Payment fee of up to $40 and a Returned Payment fee of up to $40.
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Supporting quotations
| Penalty Fees | Late Payment: Up to $40. Returned Payment: Up to $40. |
Qualifications & exceptions
The table gives only the maximum; the actual amounts, the repeat-offense rule and the cap relative to the prior statement are in How Rates and Fees Work (see the late and returned payment fee card).
Charges & Financial Obligations · Company practice
Interest uses the average daily balance method including new purchases
Interest is calculated using the average daily balance method (including new purchases). The table points to Part 2 for how interest is calculated on Pay Over Time and Cash Advance balances.
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Supporting quotations
We use a method called average daily balance method (including new purchases).
Charges & Financial Obligations · Company practice
Variable APRs move with the Prime Rate, take effect at the start of the billing period, and are capped at 29.99%
If the Prime Rate increases, the variable APRs (and the corresponding DPRs, the daily periodic rates) increase, so you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting APR changes take effect as of the first day of the billing period during which the Prime Rate changed. Variable APRs will not exceed 29.99%.
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Supporting quotations
Explanation of Variable Rates: If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase. In that case, you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the billing period during which the Prime Rate has changed. Variable APRs will not exceed 29.99%.
Qualifications & exceptions
The sentence says what happens if the Prime Rate increases; it does not spell out what happens when it decreases.
Not stated here
This section does not list any DPR values or the resulting APR numbers; the Prime Rate changes over time.
The Prime Rate is the highest U.S. Prime Rate published in The Wall Street Journal on the Closing Date
Prime Rate means the highest U.S. Prime Rate published in the rates section of The Wall Street Journal on the Closing Date of the billing period. If The Wall Street Journal does not publish it that day, the Prime Rate from the previous day it was published is used. If The Wall Street Journal is no longer published or stops publishing the Prime Rate, American Express may use the Prime Rate published in another newspaper of general circulation.
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Supporting quotations
Determining the Prime Rate: Prime Rate means the highest U.S. Prime Rate published in the rates section of The Wall Street Journal on the Closing Date of the billing period. If The Wall Street Journal does not publish the Prime Rate on that day, we will use the Prime Rate from the previous day it was published. If The Wall Street Journal is no longer published or stops publishing the Prime Rate, we may use the Prime Rate published in another newspaper of general circulation.
Qualifications & exceptions
The replacement-newspaper rule is permissive ("may use"); the section does not name the other newspaper.
Charges & Financial Obligations · Company practice
Additional Platinum Cards cost $195 a year and Companion Platinum Cards cost $0
Each Additional Platinum Card has a $195 annual fee, and each Companion Platinum Card has a $0 annual fee. If an annual fee applies to an Additional Card, the refund policy is in the Closing or suspending your Account sub-section of Part 3.
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Supporting quotations
Annual Fee for Additional Cards: Each Additional Platinum Card is $195 annually, and each Companion Platinum Card is $0 annually.
About Additional Card Members
If an Annual Fee applies for an Additional Card, please refer to the refund policy disclosed in the Closing or suspending your Account sub-section of Part 3 of this Agreement.
Qualifications & exceptions
The $895 annual fee for the main Account is in the Rates and Fees Table; this line is about the extra cards only.
Not stated here
This section does not say how the Additional Card annual fee is billed.
Charges & Financial Obligations · Company practice
The plan fee is a fixed finance charge billed each month a plan is active
The Plan It plan fee is a fixed finance charge that is charged each month that a plan is active. Its dollar amount is disclosed before you set up a plan, and the agreement sends you to About Plan It in Part 2 for more.
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Supporting quotations
This fee is a fixed finance charge that will be charged each month that a plan is active. The dollar amount of your plan fee will be disclosed before you set up a plan. For more information, see About Plan It in Part 2.
Each plan fee will be disclosed before you create the applicable plan.
Qualifications & exceptions
The Rates and Fees Table gives the maximum monthly percentage (see the plan fee card from the table).
Charges & Financial Obligations · Company practice
A cash advance fee is 5% of the advance, with a $10 minimum, and ATM operator fees count toward the base
The cash advance fee is 5% of an ATM cash advance (including any fee charged by the ATM operator) or other cash advance, with a minimum of $10. American Express adds this fee to the Cash Advance balance.
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Supporting quotations
Cash Advance: 5% of an ATM cash advance (including any fee charged by the ATM operator) or other cash advance, with a minimum of $10. We will add this fee to the Cash Advance balance.
Qualifications & exceptions
The 5% is calculated on the cash advance amount including any ATM operator fee, so the operator's fee is itself subject to the 5% fee.
Charges & Financial Obligations · Company practice
No foreign transaction fee, but foreign charges are converted at a rate AEEML chooses
The Foreign Transaction fee is "None". The agreement separately explains that AE Exposure Management Ltd. (AEEML) converts a foreign-currency charge into U.S. dollars on the date American Express or its agents process it, and picks a conversion rate acceptable to American Express. That rate may differ from rates in effect on the date of the charge.
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Supporting quotations
Foreign Transaction: None.
AEEML will choose a conversion rate that is acceptable to us for that date.
The rate AEEML uses is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day.
This rate may differ from rates that are in effect on the date of your charge.
Qualifications & exceptions
No fee does not mean a market exchange rate: the rate is chosen by AEEML, which the agreement says is no more than the highest official or interbank rate it identifies for the conversion date or prior business day.
Charges & Financial Obligations · Company practice
A late payment fee is $29, rising to $40 if repeated within 6 billing periods, and is capped by the prior statement
If American Express does not receive the Amount Due (or Minimum Payment Due, if applicable) by the Payment Due Date, the late payment fee is $29. If this happens again within the next 6 billing periods, the fee is $40. The late fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.
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Supporting quotations
Late Payment: Up to $40. If we do not receive the Amount Due (or Minimum Payment Due, if applicable) by the Payment Due Date, the fee is $29. If this happens again within the next 6 billing periods, the fee is $40. However, the late fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.
you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date
Qualifications & exceptions
The Rates and Fees Table describes this as "Up to $40".
A late payment can also trigger the penalty APR, because the same missed minimum payment is a trigger for it.
Charges & Financial Obligations · Company practice
A returned payment fee is $29, then $40 on repeats in the same or next 6 billing periods, with a cap
If you make a payment that is returned unpaid the first time American Express presents it to your bank, the fee is $29. If you do this again within the same billing period or the next 6 billing periods, the fee is $40. The returned payment fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.
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Supporting quotations
Returned Payment: Up to $40. If you make a payment that is returned unpaid the first time we present it to your bank, the fee is $29. If you do this again within the same billing period or the next 6 billing periods, the fee is $40. However, the returned payment fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.
your payment is returned by your bank
Qualifications & exceptions
The Rates and Fees Table describes this as "Up to $40".
A returned payment can also trigger the penalty APR.
Charges & Financial Obligations · Company practice
A returned check costs $38 plus the unpaid amount when you cash a check with the card
If you use your card to cash a check at one of American Express's approved locations and the check is returned unpaid, the fee is $38. American Express will also charge you the unpaid amount.
Details not recorded for this card
Supporting quotations
Returned Check: $38 if you use your card to cash a check at one of our approved locations and the check is returned unpaid. We will also charge you the unpaid amount.
Charges & Financial Obligations · Company practice
Re-opening a cancelled Account costs $25
If your Account is cancelled, you ask American Express to re-open it, and it does so, the fee is $25.
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Supporting quotations
Account Re-opening: $25 if your Account is cancelled, you ask us to re-open it, and we do so.
Qualifications & exceptions
Part 3 uses softer wording ("may charge you a $25 fee"); see the closing and re-opening card there.
Cross-references
contrast (model-proposed): American Express may charge a $25 fee if it re-opens a cancelled Account at your request — Part 1 lists the $25 re-opening fee as applying if the Account is cancelled, re-opened at your request and American Express does so; Part 3 says American Express "may charge" a $25 fee. The wording differs between permissive and fixed, and the document does not reconcile them.
Charges & Financial Obligations · Restriction or exception
The cash advance balance may not exceed $8,000, and cash advances can also be limited by the Pay Over Time Limit
Your cash advance balance may not exceed $8,000, and you agree to manage the Account so that it (including fees and interest) stays within the Cash Advance Limit. The balance for this limit is figured by adding new cash advance transactions to the prior day's ending cash advance balance. There may also be a limit on the amount of cash and number of times you can get cash from ATMs in a given period. American Express may not approve a cash advance if it would take the total of your Pay Over Time and/or Cash Advance balance and Plan balance over your Pay Over Time Limit.
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Supporting quotations
Cash Advance Limit: Your cash advance balance may not exceed $8,000.
There may also be a limit on the amount of cash and number of times you can obtain cash from ATMs in a given period. You agree to manage your Account so that your cash advance balance (including fees and interest) is not more than the Cash Advance Limit.
your cash advance balance will be determined by adding new cash advance transactions to the ending cash advance balance of the prior day
we may not approve a cash advance transaction if it would cause the total of your Pay Over Time and/or Cash Advance balance and Plan balance to go over your Pay Over Time Limit
Qualifications & exceptions
The limit includes fees and interest, which grow the balance without a new transaction.
Not stated here
The ATM cash and frequency limits are not stated in this section.
The Pay Over Time Limit amount is not stated in this section.
Charges & Financial Obligations · Restriction or exception
Person-to-person transactions are limited to $4,000 in any 30-day period
Your person-to-person transactions may not exceed $4,000 within any 30-day period, and you agree to manage your Account so the total stays within the Person-to-Person Limit. American Express may not approve a person-to-person transaction that would cause the Account to exceed the limit.
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Supporting quotations
Person-to-Person Limit: Your person-to-person transactions may not exceed $4,000 within any 30-day period. You agree to manage your Account so that the total of your person-to-person transactions in any 30-day period does not exceed the Person-to-Person Limit.
We may not approve a person-to-person transaction if it would cause your Account to exceed the applicable Person-to- Person Limit.
Qualifications & exceptions
This section does not define what counts as a person-to-person transaction.
Charges & Financial Obligations · Company practice
The monthly amount due is the Pay In Full balance plus Pay Over Time and Cash Advance minimum plus any Plan payment
The amount you owe each month is the sum of three items on your billing statement: the Pay In Full New Balance, any Pay Over Time and/or Cash Advance Minimum Due, and any Plan Payment Due. Those amounts include any past-due amounts.
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Supporting quotations
The amount you owe each month is the sum of the following on your billing statement:
The Pay In Full New Balance
Any Pay Over Time and/or Cash Advance Minimum Due
Any Plan Payment Due
Above amounts include any past due amounts.
Charges & Financial Obligations · Company practice
The Pay Over Time and Cash Advance minimum is the highest of $40, 2% of the balance or a tiered formula
The Pay Over Time and/or Cash Advance Minimum Due is the highest of three figures: $40; 2% of the Pay Over Time and/or Cash Advance New Balance; or a tiered total. For the tiered total, take the Pay Over Time and/or Cash Advance New Balance minus the Interest charged on the statement as the Amount; apply 1% to the part from $0 through $20,000, 2% to the part from $20,000.01 through $35,000, 5% to the part from $35,000.01 through $50,000 and 10% to the part above $50,000; add those pieces; divide by the Amount and round to four decimals; multiply by the Amount; then add the Interest charged plus any Pay Over Time and/or Cash Advance amount past due. The Minimum Due will not exceed the Pay Over Time and/or Cash Advance New Balance, and you may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.
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Supporting quotations
Your Pay Over Time and/or Cash Advance Minimum Due is the highest of:
$40
2% of the Pay Over Time and/or Cash Advance New Balance
The total calculated by following these steps: Use the Pay Over Time and/or Cash Advance New Balance minus the Interest charged on the billing statement as the Amount to calculate the sum of a. through d. below:
a. 1% of the Amount from $0 through $20,000
b. 2% of the Amount from $20,000.01 through $35,000
c. 5% of the Amount from $35,000.01 through $50,000
d. 10% of the Amount above $50,000
e. Then divide the sum from steps a. through d. by the Amount and round to four decimals
f. Multiply by the Amount
g. Add the Interest charged on the billing statement Plus any Pay Over Time and/or Cash Advance amount past due.
Your Pay Over Time and/or Cash Advance Minimum Due will not exceed your Pay Over Time and/or Cash Advance New Balance. You may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.
Qualifications & exceptions
The dollar tiers apply to the Amount, which excludes the Interest charged on the statement; the interest is added back at the end.
Minimum due example, setup: $200 Pay In Full and $30,300 Pay Over Time balance including $300 interest
The agreement's worked example assumes a Pay In Full New Balance of $200 and a Pay Over Time and/or Cash Advance New Balance of $30,300 that includes Interest of $300. Under the three tests, the first gives $40, the second gives 2% of $30,300 which is $606, and the third starts from $30,300 minus $300 which is $30,000. The next section carries the third test through to its result.
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Supporting quotations
EXAMPLE: You have: a Pay In Full New Balance of $200 and a Pay Over Time and/or Cash Advance New Balance of $30,300, which includes Interest of $300.
$40
2% multiplied by $30,300 equals $606
$30,300 minus $300 equals $30,000
Qualifications & exceptions
The example is illustrative arithmetic for the minimum due rule; it is not a statement about any actual Account.
Minimum due example, result: the third test gives $699 and the example Minimum Payment Due is $899
In the agreement's worked example, the tiered test works out to $699: 1% of $20,000 is $200, 2% of the next $10,000 is $200, the upper tiers are $0, the sum of $400 divided by $30,000 is 0.0133, $30,000 times 0.0133 is $399, and adding the $300 interest gives $699. The highest of the three tests ($40, $606 and $699) is $699. Adding the $200 Pay In Full New Balance gives a Minimum Payment Due of $899.
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Supporting quotations
2% multiplied by $30,300 equals $606
$30,300 minus $300 equals $30,000
a. 1% multiplied by $20,000 equals $200
b. 2% multiplied by ($30,000 minus $20,000) equals $200
c. 5% multiplied by $0 equals $0
d. 10% multiplied by $0 equals $0
e. ($200 plus $200) divided by $30,000 equals 0.0133
f. $30,000 multiplied by 0.0133 equals $399
g. $399 plus $300 equals $699
The highest of 1., 2. or 3. is $699. The Pay Over Time and/or Cash Advance Minimum Due of $699 plus the Pay in Full New Balance of $200 together make up the Minimum Payment Due of $899.
Qualifications & exceptions
The example shows how the Pay In Full New Balance is added on top of the Pay Over Time and/or Cash Advance Minimum Due to reach the Minimum Payment Due.
Charges & Financial Obligations · Company practice
Cash advances accrue interest from the transaction date and the interest cannot be avoided
For cash advances, American Express charges interest from the transaction date, and the agreement says you cannot avoid paying interest on cash advances.
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Supporting quotations
When We Charge Interest on Pay Over Time and Cash Advance Balances (Grace Period)
For cash advances, we charge interest from the transaction date. You cannot avoid paying interest on cash advances.
Charges & Financial Obligations · Restriction or exception
Pay Over Time interest runs from the transaction date unless the balance was zero or paid in full two periods
Charges added automatically to a Pay Over Time balance when they post accrue interest from the transaction date until paid. Charges moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date accrue interest from the day after they are added. But no interest is charged on charges added automatically to the Pay Over Time balance in a billing period if either (1) your Pay Over Time Previous Balance for that billing period is zero, or (2) you paid the Account Total New Balance (or the Adjusted Balance, if you have an active Plan It plan) in full by the Payment Due Date shown on each of the previous two billing statements.
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Supporting quotations
For charges added automatically to a Pay Over Time balance at the time they post to your account, we charge interest from the transaction date until they are paid. For charges or portions of charges that we automatically move from your Pay In Full balance to your Pay Over Time balance on your Closing Date, we charge interest from the day after they are added to your Pay Over Time balance until they are paid. However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:
your Pay Over Time Previous Balance for the billing period is zero; or
you paid the Account Total New Balance on your billing statement (if any) or Adjusted Balance (if you have an active plan created through Plan It) for each of the previous two billing periods in full by the Payment Due Date shown on each of those billing statements.
We will not charge you interest on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance on your billing statement (or, if you have a Plan balance, your Adjusted Balance on your billing statement) by the Payment Due Date.
you authorize us to automatically move all or a portion of those charges to your Pay Over Time balance, subject to your Pay Over Time Limit
A new charge, or a portion of a new charge, will not be eligible to be moved to your Pay Over Time balance on your Closing Date if:
Qualifications & exceptions
The Rates and Fees Table summarizes this as paying the balance in full "each month"; this section sets the more specific conditions.
The two-statement condition and the zero-balance condition are alternatives (the list is joined by "or").
Moving charges on the Closing Date is not automatic for every charge; Part 2 lists charges that are not eligible to be moved.
Charges & Financial Obligations · Company practice
Pay Over Time Select purchases accrue interest from the date they are added until paid
For Pay Over Time Select, American Express charges interest on purchases added at your request to a Pay Over Time Select balance, from the date they are added to that balance until they are paid.
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Supporting quotations
For Pay Over Time Select: we charge you interest on purchases added at your request to a Pay Over Time Select balance from the date they are added to a Pay Over Time Select balance until they are paid.
Qualifications & exceptions
This sentence does not repeat the interest-free conditions that apply to automatically added Pay Over Time charges.
Not stated here
This section does not say what Pay Over Time Select is or how it is set up.
Legal Rights & Agreement Rules · Procedure
The Card Member Agreement is Parts 1, 2 and 3 plus supplements and amendments, and you can request a copy
Part 1, Part 2, Part 3 and any supplements or amendments make up the Card Member Agreement. You can request a copy of your Card Member Agreement through your online account or by calling the number on the back of your Card.
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Supporting quotations
Part 1, Part 2, Part 3 and any supplements or amendments make up your Card Member Agreement. You can request a copy of your Card Member Agreement through your online account or by calling the number on the back of your Card.
Using, signing or keeping the Card means you agree to the Agreement, which is Parts 1, 2 and 3 plus supplements
This document, together with Part 1 and Part 3, makes up the Card Member Agreement for the Account identified on page 1 of Part 1, and any supplements or amendments are also part of it. When you use the Account, or you sign or keep the Card, you agree to the terms of the Agreement.
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Supporting quotations
Your Card Member Agreement: This document together with Part 1 and Part 3 make up the Card Member Agreement (Agreement) for the Account identified on page 1 of Part 1. Any supplements or amendments are also part of the Agreement. When you use the Account (or you sign or keep the Card), you agree to the terms of the Agreement.
Part 1, Part 2, Part 3 and any supplements or amendments make up your Card Member Agreement.
Qualifications & exceptions
Part 1, Part 2, Part 3 and any supplements or amendments are described the same way elsewhere in the document.
You can cancel the Card without paying fees only if you have not used the Account or made a payment after a statement
If you have not yet used the Account or made a payment on the Account after receiving a billing statement, you can cancel your Card without obligation to pay any fees.
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Supporting quotations
If you have not yet used the Account or made a payment on the Account after receiving a billing statement, you can cancel your Card without obligation to pay any fees.
Qualifications & exceptions
The wording joins two conditions with "or" ("not yet used the Account or made a payment on the Account after receiving a billing statement"), and the agreement does not say whether both must be true or either one is enough.
Legal Rights & Agreement Rules · Permission or license
American Express may change the Agreement subject to applicable law, and oral side agreements do not count
American Express may change the Agreement, subject to applicable law. The written Agreement is a final expression of the agreement governing the Account and may not be modified or amended by any alleged oral agreement.
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Changing the Agreement: We may change this Agreement, subject to applicable law. This written Agreement is a final expression of the agreement governing the Account. The written Agreement may not be modified or amended by any alleged oral agreement.
Not stated here
This sentence does not say how or whether American Express will give notice of a change, or whether you can reject one.
"You" is the applicant for the Account, the Basic Card Member; Additional Cards are for Additional Card Members
"We," "us" and "our" mean the issuer shown on page 1 of Part 1. "You" and "your" mean the person who applied for the Account and for whom American Express opened it, also called the Basic or Primary Card Member. You may request Additional Cards (which include Companion Cards, if available) for Additional Card Members. "Card" means any American Express Card or other device issued to access your Account. American Express may issue Additional Cards at your request.
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Supporting quotations
Definitions: We, us, and our mean the issuer shown on page 1 of Part 1. You and your mean the person who applied for this Account and for whom we opened the Account. We will refer to you as either the Basic or Primary Card Member. You may request Additional Cards (which include Companion Cards, if available) for Additional Card Members. Card means any American Express Card or other device that we issue to access your Account.
We may issue Additional Cards on your Account at your request.
A cash advance includes cash equivalents, foreign currency, digital currency and betting transactions
A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, and other offline and online betting transactions.
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Supporting quotations
A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, and other offline and online betting transactions.
Qualifications & exceptions
Whether a given transaction is a cash advance depends on this definition rather than on how a merchant describes it.
Charge, purchase, person-to-person transaction, plan and Closing Date are defined terms
A charge is any amount added to your Account, such as purchases, cash advances, fees and interest charges. A purchase is a charge for goods, services, or person-to-person transactions. A person-to-person transaction is a charge for funds sent to another person or a charge to add funds to your Amex Send Account. A plan is a portion of your Account balance that you have selected to pay through a set number of monthly payments using Plan It. The Closing Date appears on each billing statement and is the last day of the billing period covered by the statement.
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Supporting quotations
A charge is any amount added to your Account, such as purchases, cash advances, fees, and interest charges. A purchase is a charge for goods, services, or person-to-person transactions.
A person-to-person transaction is a charge for funds sent to another person or a charge to add funds to your Amex SendTM Account. A plan is a portion of your Account balance that you have selected to pay through a set number of monthly payments using Plan It. The Closing Date appears on each billing statement and is the last day of the billing period covered by the billing statement.
Qualifications & exceptions
Person-to-person transactions are counted as purchases under this definition.
Account & Service Control · Restriction or exception
American Express decides whether to approve each charge, and the Card is for personal, family or household use only
You may use the Card to make charges. American Express decides whether to approve a charge based on how you spend and pay on this Account and other Accounts you have with it, and also considers your credit history and score and your personal resources that it knows about. You agree to use the Card for personal, family, or household purposes only.
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Using the Card: You may use the Card to make charges. We decide whether to approve a charge, based on how you spend and pay on this Account and other Accounts you have with us. You agree to use the Card for personal, family, or household purposes only. We also consider your credit history and score and your personal resources that we know about.
Account & Service Control · Restriction or exception
A Spending Limit, if one is shown, makes declines more likely but is not a hard cap and can be changed or removed
If there is a Spending Limit on page 1 of Part 1, the Account has a preset Spending Limit. If your total balance exceeds it, American Express is more likely to decline your charges, but it may approve charges that push the balance over the limit, and you must still pay for those charges. It may also decline charges that do not exceed the limit. American Express may change or remove the Spending Limit at any time.
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Supporting quotations
However, if there is a Spending Limit on page 1 of Part 1 of this Agreement, then your Account has a preset Spending Limit. If at any time your total balance exceeds this Spending Limit, we are more likely to decline to authorize your charges. We may approve charges that cause your total balance to exceed the Spending Limit. If we do, you must still pay us for those charges. We may also decline to authorize charges, even if they do not cause your total balance to exceed the Spending Limit. We may change or remove the Spending Limit at any time.
Qualifications & exceptions
The sentence is conditional ("if there is a Spending Limit").
Not stated here
The Part 1 text in this document does not list a Spending Limit, so whether one applies to a particular Account is not stated here.
Sharing & Disclosure · User right or choice
American Express may tell merchants about new card numbers or account status; you can ask it not to
You may arrange for certain merchants and third parties to store your Card number and expiration date, for example so they can charge your Account at regular intervals. American Express may (but is not required to) tell these merchants and third parties if your expiration date or Card number changes or if your Account status is updated, including if your Account is cancelled. If you do not want American Express to share your updated Account information, you contact it using the number on the back of your Card.
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Supporting quotations
You may arrange for certain merchants and third parties to store your Card number and expiration date, so that, for example: the merchant may charge your Account at regular intervals; or you may make charges using that stored Card information.
We may (but are not required to) tell these merchants and third parties if your expiration date or Card number changes or if your Account status is updated, including if your Account is cancelled. If you do not want us to share your updated Account information, please contact us using the number on the back of your Card.
Qualifications & exceptions
The sharing is optional for American Express ("may (but are not required to)").
Not stated here
The agreement does not list which merchants or third parties are told, or how quickly.
Security & Safeguards · Restriction or exception
You must protect the Card, report loss or unauthorized use, and not use the Account for illegal activities
You are told to keep your Card safe, not let anyone else use it, and contact American Express right away if the Card is lost or stolen or the Account is being used without your permission. You may not use your Account for illegal activities. Separately, you are responsible for all use of your Account by Additional Card Members and anyone they allow to use it, and you must pay for all charges made.
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Supporting quotations
Keep your Card safe and don't let anyone else use it. If your Card is lost or stolen or your Account is being used without your permission, contact us right away. You may not use your Account for illegal activities.
You are responsible for all use of your Account by Additional Card Members and anyone they allow to use your Account and you must pay for all charges made.
Account & Service Control · Restriction or exception
American Express may decline charges, such as for suspected fraud, and is not liable for resulting losses
American Express may decline to authorize a charge for various reasons, including if it suspects fraud or based on its assessment of your creditworthiness, even if your Account is not in default. It is not responsible for losses you incur if it does not authorize a charge or if any merchant refuses to accept the Card.
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Declined transactions: We may decline to authorize a charge for various reasons, including if we suspect fraud or based on our assessment of your creditworthiness, even if your Account is not in default. We are not responsible for any losses you incur if we do not authorize a charge or if any merchant refuses to accept the Card.
Qualifications & exceptions
The reasons are listed as examples ("including"), so other reasons are possible.
Charges & Financial Obligations · User right or choice
Pay Over Time can be set active or inactive, and inactive-period purchases go to a balance due in full each month
If Pay Over Time is a feature of your Account, you may carry a balance with interest, up to your Pay Over Time Limit. It has two settings, active and inactive, which you can view or change at any time through your online account or by calling the number on the back of your Card. Purchases made and Annual Fees charged while Pay Over Time is inactive are added to your Pay In Full balance, which is due in full each month. Charges are added to the Pay Over Time balance as described in the rules that follow, which begin with the transaction date.
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Pay Over Time: If Pay Over Time is a feature of your Account, you may carry a balance with interest, up to your Pay Over Time Limit. Pay Over Time has two settings: active and inactive. You can change or view your Pay Over Time setting at any time through your online account or by calling the number on the back of your Card. Purchases made and Annual Fees charged when Pay Over Time is set to inactive will be added to your Pay In Full balance, which will be due in full each month.
Charges will be added to your Pay Over Time balance as described below.
Charges & Financial Obligations · User right or choice
With a Pay Over Time balance you choose each month to pay in full, the minimum, or anything in between
If you have a Pay Over Time balance, you can choose each month to pay your Account Total New Balance in full, the Minimum Payment Due, or any amount in between.
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If you have a Pay Over Time balance, you can choose each month to pay your Account Total New Balance in full, the Minimum Payment Due, or any amount in between.
Charges & Financial Obligations · Company practice
Eligible charges go to Pay Over Time if active at 8 p.m. ET on the merchant's transaction date, up to the limit
If Pay Over Time is set to active at 8 p.m. ET on the transaction date the merchant provides for an eligible charge, or on the date an eligible Annual Fee is charged, the charge is automatically added to your Pay Over Time balance, subject to your Pay Over Time Limit. If adding the entire charge would push the total of your Pay Over Time, Cash Advance and Plan balances over the Pay Over Time Limit, the charge goes to your Pay In Full balance instead. The merchant's transaction date may differ from the purchase date, for example because of a delay in submitting the transaction or because the merchant uses the shipping date. Charges with the same transaction date are added to Pay Over Time in any order American Express chooses.
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On the Transaction Date:
If Pay Over Time is set to active at 8 p.m.ET on the transaction date provided by the merchant for an eligible charge, or on the date when an eligible Annual Fee is charged to your Account, the charge will automatically be added to your Pay Over Time balance, subject to your Pay Over Time Limit. If the addition of an entire charge to your Pay Over Time balance would cause the total of your Pay Over Time, Cash Advance, and Plan balances to exceed your Pay Over Time Limit, that charge will be added to your Pay In Full balance. The transaction date provided by the merchant may differ from the date you made the purchase if, for example, there is a delay in the merchant submitting the transaction to us or if the merchant uses the shipping date as the transaction date. Charges with the same transaction date will be added to your Pay Over Time balance in any order we choose.
Charges will be added to your Pay Over Time balance as described below.
Qualifications & exceptions
The merchant's transaction date, not the date you made the purchase, controls which setting applies.
Charges & Financial Obligations · Permission or license
On the Closing Date, eligible Pay In Full charges are moved to Pay Over Time if conditions are met, up to the limit
If on your Closing Date the total of your Pay Over Time, Cash Advance and Plan balances is less than your Pay Over Time Limit, Pay Over Time is set to active at 8 p.m. ET, and there are eligible new charges in your Pay In Full balance with a transaction date when Pay Over Time was set to active, you authorize American Express to automatically move all or a portion of those charges to your Pay Over Time balance, subject to your Pay Over Time Limit. If moving a charge would exceed the limit, a portion up to the limit is moved and the rest stays in the Pay In Full balance. Charges are moved in order of transaction date, and same-date charges in any order American Express chooses. Charges moved this way accrue interest from the day after they are added.
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On your Closing Date:
Also, if on your Closing Date, 1) the total of your Pay Over Time, Cash Advance, and Plan balances is less than your Pay Over Time Limit,
Pay Over Time is set to active at 8 p.m. ET and 3) there are eligible new charges in your Pay In Full balance with a transaction date when Pay Over Time was set to active, you authorize us to automatically move all or a portion of those charges to your Pay Over Time balance, subject to your Pay Over Time Limit. If the addition of a charge to your Pay Over Time balance would cause the total of your Pay Over Time, Cash Advance, and Plan balances to exceed your Pay Over Time Limit, we will move a portion of that charge to your Pay Over Time balance, up to your Pay Over Time Limit. The remaining portion of the charge will remain in your Pay In Full balance. Eligible charges will be moved to your Pay Over Time balance in order of the transaction dates. Charges with the same transaction date will be added to your Pay Over Time balance in any order we choose.
we charge interest from the day after they are added to your Pay Over Time balance until they are paid.
Qualifications & exceptions
The extracted text shows the list of three conditions with the number "2)" missing: condition 1 is in one block and the second condition ("Pay Over Time is set to active at 8 p.m. ET") appears at the start of the next block joined to "3)". This card reads them as three conditions.
Not stated here
It is not stated what Pay Over Time "active at 8 p.m. ET" refers to on the Closing Date (the Closing Date itself or the charge's transaction date).
Charges & Financial Obligations · Restriction or exception
Listed charges, such as disputed or fraud-reported ones, are not moved to Pay Over Time on the Closing Date
A new charge, or a portion of one, will not be eligible to be moved to your Pay Over Time balance on your Closing Date if: it is subject to a Foreign Transaction Fee; it is disputed for a reason other than fraud and the dispute is not resolved in the billing period in which it was opened; it is reported as fraudulent and either was determined fraudulent in the billing period it posted or has not yet been determined in that billing period; you created a plan for it using Plan It; Pay Over Time is suspended on your Account; or your Account is cancelled or enrolled in a payment program.
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Supporting quotations
A new charge, or a portion of a new charge, will not be eligible to be moved to your Pay Over Time balance on your Closing Date if:
that charge is subject to a Foreign Transaction Fee;
that charge or a portion of that charge is disputed (for a reason other than fraud) and that dispute is not resolved in the same billing period in which it was opened;
that charge or a portion of that charge is reported as fraudulent and either (i) we determined the charge is fraudulent in the same billing period in which it was posted to your Account, or (ii) we have not yet determined if the charge is fraudulent in the same billing period in which it was posted to your Account;
you created a plan for that charge using Plan It;
Pay Over Time is suspended on your Account; or
your Account is cancelled or enrolled in a payment program.
Qualifications & exceptions
These exclusions apply to the Closing Date move; the transaction-date rule for eligible charges is separate.
Charges & Financial Obligations · Restriction or exception
Cash advances are not eligible for Pay Over Time, and American Express can suspend Pay Over Time at any time
Certain charges are not eligible for Pay Over Time, such as cash advances, and American Express may change which other charges are eligible. It may suspend Pay Over Time at any time based on its assessment of your creditworthiness, the status of your Account and/or your enrollment in a payment program. If your Account is past due or Pay Over Time is suspended, you cannot change your Pay Over Time setting from inactive to active.
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Certain charges are not eligible for Pay Over Time, such as cash advances and we may change the eligibility of other charges for Pay Over Time. We may suspend Pay Over Time at any time based on our assessment of your creditworthiness, the status of your Account, and/or your enrollment in a payment program. In addition, if your Account is past due or Pay Over Time is suspended, you will not be able to change your Pay Over Time setting from inactive to active.
Qualifications & exceptions
The reasons for suspension are listed in general terms and the agreement does not give thresholds or notice terms.
Not stated here
The agreement does not say whether American Express will tell you before suspending Pay Over Time.
Account & Service Control · Company commitment
Your Pay Over Time setting stays in effect when you move to a new Card with the same Account number
If you transfer to a new Card with the same Account number, your Pay Over Time setting at the time of the transfer remains in effect on the new Card.
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If you transfer to a new Card with the same Account number, your Pay Over Time setting at time of transfer will remain in effect on your new Card.
Charges & Financial Obligations · Restriction or exception
Pay Over Time Travel adds eligible travel purchases regardless of the setting; no re-enrollment after cancelling
If you have the Pay Over Time Travel feature, American Express automatically adds eligible travel-related purchases to your Pay Over Time Travel balance, subject to your Pay Over Time Limit, whether your Pay Over Time setting is active or inactive. If you request to cancel the Pay Over Time Travel feature, you will not be able to re-enroll.
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If you have the Pay Over Time Travel feature on your Account: we will automatically add eligible travel-related purchases to your Pay Over Time Travel balance subject to your Pay Over Time Limit regardless of whether your Pay Over Time setting is active or inactive. If you request to cancel your Pay Over Time Travel feature, you will not be able to re-enroll.
Not stated here
The agreement does not say which purchases count as eligible travel-related purchases.
Charges & Financial Obligations · Permission or license
American Express may offer Plan It, which turns qualifying purchases into monthly payments for a fixed fee
American Express may offer Plan It, which lets you create a payment plan for qualifying purchases subject to a plan fee. The plan fee is a fixed finance charge charged each month that a plan is active. You can see the monthly plan payments, including the plan fee, before you select a plan, and plans cannot be cancelled once created, though you can pay them off early.
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Plan It: We may offer you Plan It, which allows you to create a payment plan for qualifying purchases subject to a plan fee. This fee is a fixed finance charge that will be charged each month that a plan is active.
You will be able to view the monthly plan payments, including the plan fee, for your selection.
Plans cannot be cancelled after they have been created, but you can choose to pay them early by paying the Account Total New Balance shown on your most recent billing statement in full.
Qualifications & exceptions
Further Plan It conditions are in the next section of Part 2.
Charges & Financial Obligations · Company practice
Up to the minimum, payments go to Pay In Full and low-rate balances first; above it, highest rate first
If your Account has balances with different interest rates, plan balances or plan fees, payments are generally applied in a set order. Up to the Minimum Payment Due, payments go first to the Pay In Full New Balance, then to any plan amounts included in the Minimum Payment Due, then to the Pay Over Time and/or Cash Advance New Balance, first to the balance with the lowest interest rate and then to higher-rate balances. After the Minimum Payment Due has been paid, payments go first to the Pay Over Time and/or Cash Advance balances with the highest interest rate, then to lower-rate balances, and then to any Plan balances.
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How we apply payments and credits: Your Account may have balances with different interest rates. For example, purchases may have no interest rate or a lower interest rate than cash advances. Your Account may also have plan balances which are assessed plan fees. If your Account has balances with different interest rates, plan balances, or plan fees, here is how we generally apply payments in a billing period:
We apply your payments – up to the Minimum Payment Due – first to the Pay in Full New Balance; then to any plan amounts included in your Minimum Payment Due; and then to the Pay Over Time and/or Cash Advance New Balance, first to the balance with the lowest interest rate and then to balances with higher interest rates.
After the Minimum Payment Due has been paid, we apply payments first to the Pay Over Time and/or Cash Advance balances with the highest interest rate and then to balances with lower interest rates, and then to any Plan balances.
Qualifications & exceptions
The wording is "generally apply", so this is the usual order rather than a fixed rule.
Charges & Financial Obligations · Company practice
Credits usually go to the balance of the related charge, with exceptions, and plan credits may need a phone call
In most cases a credit is applied to the same balance as the related charge. American Express may apply payments and credits within balances, and among balances with the same interest rate, in any order it chooses. If a balance is negative at the end of a billing period, the excess credit is redistributed to other balances under the payment order above, which means plan balances may sometimes be paid before they otherwise would be. If you receive a credit for a purchase added to a plan, you must call the number on the back of your Card to have the credit applied to the plan balance.
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In most cases, we apply a credit to the same balance as the related charge. We may apply payments and credits within balances, and among balances with the same interest rate, in any order we choose. If there is a negative balance in any balance on the account at the end of a billing period, that excess credit will be redistributed to other balances in accordance with how we apply payments described above. This means that in certain circumstances, plan balances may get paid before they otherwise would. If you receive a credit for a purchase added to a plan, you must call us at the number on the back of your Card to have the credit applied to the plan balance.
Charges & Financial Obligations · Company practice
Interest is average daily balance times daily periodic rate times days, added up across each balance
American Express calculates interest for a billing period by first figuring the interest on each balance, because Pay Over Time and Cash Advance balances may have different rates. It uses the Average Daily Balance method (including new transactions) for each balance, and the total interest for the period is the sum across balances. Interest for a balance, except for rounding, equals the Average Daily Balance multiplied by the Daily Periodic Rate multiplied by the number of days in the billing period. The Average Daily Balance is the sum of the daily balances divided by the number of days in the billing period.
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How we calculate interest on Pay Over Time and Cash Advance balances: We calculate interest for a billing period by first figuring the interest on each balance. Balances within the Pay Over Time feature and Cash Advance balances may have different interest rates. We use the Average Daily Balance method (including new transactions) to figure interest charges for each balance. The total interest charged for a billing period is the sum of the interest charged on each balance.
Interest: The interest charged for a balance in a billing period, except for variations caused by rounding, equals:
Average Daily Balance (ADB) multiplied by
Daily Periodic Rate (DPR) multiplied by
number of days in the billing period.
ADB: To get the ADB for a balance, we add up its daily balances. Then we divide the result by the number of days in the billing period.
The daily periodic rate is 1/365th of an APR, but this published agreement shows no daily periodic rate values
A DPR (daily periodic rate) is 1/365th of an APR, rounded to one ten-thousandth of a percentage point. The agreement says "Your DPRs are shown in How Rates and Fees Work in Part 1." The publicly available agreement does not list any DPR: the How Rates and Fees Work section in Part 1 holds the Explanation of Variable Rates, Determining the Prime Rate, fees and limits, and the Rates and Fees Table gives APRs only as the Prime Rate plus a margin (some as a range).
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DPR: A DPR is 1/365th of an APR, rounded to one ten-thousandth of a percentage point. Your DPRs are shown in How Rates and Fees Work in Part 1.
Daily Periodic Rate (DPR) multiplied by
Qualifications & exceptions
Because the APRs are variable and given as a Prime Rate plus a margin, the published agreement gives no DPR values to apply.
Not stated here
The DPRs for a particular Account are not shown in the published agreement and are not calculated or taken from another agreement here.
Interest example: a 15.99% rate, a $2,250 average daily balance and 30 days gives $29.57
The agreement's example assumes a single interest rate of 15.99%, an average daily balance of $2,250 and 30 days in the billing period. The DPR is 15.99% divided by 365 days, equal to 0.0438%. The interest is $2,250 multiplied by 0.0438% multiplied by 30 days, equal to $29.57.
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EXAMPLE: Calculating Interest
Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period. The DPR is 15.99% divided by 365 days equals 0.0438%
The Interest is $2,250 multiplied by 0.0438% multiplied by 30 days equals $29.57
Qualifications & exceptions
The 15.99% rate is an assumption for the example and is not stated as a rate for this Card.
Charges & Financial Obligations · Company practice
Daily balances add new charges from the transaction date, but moved charges start the next day
The daily balance for each balance is the beginning balance for the day, plus any new charges, minus any payments or credits, with any appropriate adjustments. A new charge is added to a daily balance as of its transaction date, except charges automatically moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date, which are added as of the day after they are moved. If a daily balance is negative, it is treated as zero.
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Daily Balance: We figure the daily balance for each balance by:
taking the beginning balance for the day,
adding any new charges,
subtracting any payments or credits; and
making any appropriate adjustments.
We add a new charge to a daily balance as of its transaction date, except for charges automatically moved from your Pay In Full balance to your Pay Over Time balance on your Closing Date, which we add to a daily balance as of the day after they are moved to your Pay Over Time balance. If the daily balance is negative, we treat it as zero.
we charge interest from the day after they are added to your Pay Over Time balance until they are paid.
Charges & Financial Obligations · Company practice
Interest compounds daily because unpaid interest is added to each day's starting balance
For the first day of a billing period, the beginning balance is the ending balance for the prior billing period, including unpaid interest. For the rest of the period, the beginning balance is the previous day's daily balance plus interest equal to that day's balance multiplied by the DPR. The agreement states that this method results in daily compounding of interest.
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Beginning balance: For the first day of a billing period, the beginning balance is the ending balance for the prior billing period, including unpaid interest. For the rest of the billing period, the beginning balance is the previous day's daily balance plus an amount of interest equal to the previous day's daily balance multiplied by the DPR for that balance. This method of figuring the beginning balance results in daily compounding of interest.
Charges & Financial Obligations · Permission or license
American Express may use other equivalent methods and may choose not to charge interest on some charges
To figure the ADB and interest charges, American Express may use other formulas or methods that produce equivalent results. It may also choose not to charge interest on certain types of charges.
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Other methods: To figure the ADB and interest charges, we may use other formulas or methods that produce equivalent results. Also, we may choose not to charge interest on certain types of charges.
Not stated here
The agreement does not say which types of charges might be left without interest.
Legal Rights & Agreement Rules · Context
The Military Lending Act limits the cost of consumer credit to covered borrowers to a 36% annual percentage rate
The agreement describes federal law protections for members of the Armed Forces and their dependents. In general, the cost of consumer credit to such a member and dependent may not exceed an annual percentage rate of 36 percent. The rate must include, as applicable, credit insurance premiums, fees for ancillary products sold in connection with the credit, any application fee (other than certain exceptions) and any participation fee (other than certain participation fees for a credit card account).
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Military Lending Act: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee (other than certain participation fees for a credit card account).
Qualifications & exceptions
The agreement presents this as a general description ("In general") of federal law.
Not stated here
The text does not say which fees on this Account count toward the 36 percent figure.
Legal Rights & Agreement Rules · Restriction or exception
Covered borrowers under the Military Lending Act are not subject to the arbitration provision, but can elect arbitration
If you are a covered borrower under the Military Lending Act, the Arbitration provision of the Claims Resolution section does not apply to you in connection with this Account. However, if you elect arbitration, American Express says it will comply with its obligations under the Claims Resolution section. You can call 855-531-0379 to listen to this statement and a description of your payment obligation for the Account.
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To listen to this statement, as well as a description of your payment obligation for this Account, call us at 855-531-0379. If you are a covered borrower under the Military Lending Act, the Arbitration provision of the Claims Resolution section of this Agreement will not apply to you in connection with this Account. However, if you elect arbitration, we will comply with our obligations under the Claims Resolution section of this Agreement.
Qualifications & exceptions
The exception is limited to this Account and to the Arbitration provision, not to the rest of Claims Resolution.
Not stated here
The text does not define who is a "covered borrower" beyond the reference to the Military Lending Act.
Additional Cards are issued on request and use may be reported to credit reporting agencies
American Express may issue Additional Cards on your Account at your request. Additional Card Members can use your Account subject to the terms of the Agreement, and American Express may report their use of your Account to credit reporting agencies. If an Annual Fee applies to Additional Cards, it is shown on page 2 of Part 1 of the Agreement.
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About Additional Card Members
Additional Card Members: We may issue Additional Cards on your Account at your request. Additional Card Members can use your Account subject to the terms of this Agreement and we may report their use of your Account to credit reporting agencies. If an Annual Fee applies to Additional Cards on your Account, it is shown on page 2 of Part 1 of this Agreement.
Charges & Financial Obligations · Restriction or exception
You are responsible for everything charged by Additional Card Members and anyone they let use the Account
You are responsible for all use of your Account by Additional Card Members and anyone they allow to use your Account, and you must pay for all charges made.
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You are responsible for all use of your Account by Additional Card Members and anyone they allow to use your Account and you must pay for all charges made.
You contact American Express to remove an Additional Card Member; fee refunds follow the Part 3 policy
If you want to cancel an Additional Card Member's ability to use your Account, you contact American Express. If an Annual Fee applies for an Additional Card, the refund policy is in the Closing or suspending your Account sub-section of Part 3. If a single Annual Fee applies to a group of Additional Cards, that policy applies when you cancel the Additional Card on which the fee was assessed.
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Contact us if you want to cancel an Additional Card Member's ability to use your Account. If an Annual Fee applies for an Additional Card, please refer to the refund policy disclosed in the Closing or suspending your Account sub-section of Part 3 of this Agreement. If a single Annual Fee applies for a group of Additional Cards on your Account, this policy will apply when you cancel the Additional Card on which the fee was assessed.
Not stated here
This section does not state the refund terms; they are in Part 3.
Charges & Financial Obligations · Company practice
AEEML converts foreign-currency charges to dollars at a rate it chooses, which can differ from the charge-date rate
If you make a charge in a foreign currency, AE Exposure Management Ltd. (AEEML) converts it into U.S. dollars on the date American Express or its agents process it, and you are billed in U.S. dollars at that conversion. Unless a particular rate is required by law, AEEML chooses a rate acceptable to American Express for that date. The rate is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day. That rate may differ from rates in effect on the date of your charge. Charges converted by establishments, such as airlines, are billed at the rates those establishments use.
Details not recorded for this card
Supporting quotations
Converting charges made in a foreign currency: If you make a charge in a foreign currency, AE Exposure Management Ltd. ("AEEML") will convert it into U.S. dollars on the date we or our agents process it, so that we bill you for the charge in U.S. dollars based upon this conversion. Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for that date. The rate AEEML uses is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day. This rate may differ from rates that are in effect on the date of your charge. We will bill charges converted by establishments (such as airlines) at the rates they use.
Qualifications & exceptions
The Rates and Fees Table lists no Foreign Transaction fee, but this conversion rate applies separately.
Not stated here
The agreement does not say how much the chosen rate can fall below the stated maximum.
Charge information from federal agencies that accept the Card is collected and may be used for marketing and analysis
Some federal agencies may accept the Card under authority of statute. When you make charges at those agencies, American Express collects certain charge information. That information may be put to routine uses such as processing, billing and collections, and may also be aggregated for reporting, analysis and marketing use. Other routine uses by agencies may be published in the Federal Register.
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Supporting quotations
Privacy Act of 1974: Some federal agencies may accept the Card under authority of statute. When you make charges at these agencies, we collect certain charge information. That information may be put to routine uses such as processing, billing, and collections. It may also be aggregated for reporting, analysis and marketing use. Other routine uses by agencies may be published in the Federal Register.
Qualifications & exceptions
The text cites the Privacy Act of 1974 as the heading for this paragraph.
Not stated here
The agreement does not list which agencies accept the Card or what charge information is collected.
American Express and affiliates may promote insurance and other products and be paid, which can sway what they tell you
American Express or its affiliates may tell you about insurance and non-insurance products, services or features that may have a fee. One of its affiliates may act on behalf of a provider of these products and may be compensated for this. The insurance products are not offered or sold by American Express or on its behalf. Its affiliates may get additional compensation when AMEX Assurance Company or another affiliate is the insurer or reinsurer. This compensation may influence what products and providers American Express or its affiliates tell you about.
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Supporting quotations
Insurance products: We or our affiliates may tell you about insurance and non-insurance products, services or features that may have a
fee. One of our affiliates may act on behalf of a provider of these products. The affiliate may be compensated for this. The insurance products are not offered or sold by us or on our behalf. Our affiliates may get additional compensation when AMEX Assurance Company or another affiliate is the insurer or reinsurer. Compensation may influence what products and providers we or our affiliates tell you about.
Qualifications & exceptions
The sentence about products that "may have a fee" is split across two text blocks by a page break; the second block begins with the word "fee.".
American Express may share information about you with affiliates to identify products for you and may be paid for it
American Express may share information about you with its affiliates so they can identify products that may interest you. It may be compensated for this information.
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Supporting quotations
We may share information about you with our affiliates so they can identify products that may interest you. We may be compensated for this information.
Not stated here
The agreement does not say which information about you is shared or whether you can opt out.
American Express can add, change or remove any benefit, feature or service at its discretion
American Express has the right to add, modify or remove any benefit, feature or service included with or related to your Account at its discretion.
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Supporting quotations
Changing benefits: We have the right to add, modify or remove any benefit, feature or service included with or related to your Account at our discretion.
Qualifications & exceptions
The wording covers benefits and features related to the Account in general; the agreement does not carve out any benefit.
Not stated here
The agreement does not say whether American Express will give notice before a benefit is changed or removed.
Legal Rights & Agreement Rules · Restriction or exception
American Express may sell or assign the Agreement and Account without telling you; you may not transfer yours
American Express may sell, transfer or assign the Agreement and your Account at any time without notifying you. You may not sell, assign or transfer your Account or any of your obligations under the Agreement.
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Supporting quotations
Assigning the Agreement: We may sell, transfer or assign this Agreement and your Account. We may do so at any time without notifying you. You may not sell, assign or transfer your Account or any of your obligations under this Agreement.
Legal Rights & Agreement Rules · Restriction or exception
Delaying or not enforcing a right does not waive it
American Express may choose to delay enforcing, or to not exercise, rights under the Agreement. If it does, it does not waive its rights to exercise or enforce them on any other occasion.
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Supporting quotations
We do not waive our rights: We may choose to delay enforcing or to not exercise rights under this Agreement. If we do this, we do not waive our rights to exercise or enforce them on any other occasion.
Utah and federal law govern the Agreement, with a Maryland election for Maryland billing addresses
Utah law and federal law govern the Agreement and your Account without regard to internal principles of conflicts of law. The Agreement says it was entered into with you in Utah, where American Express is located and holds your Account. Maryland residents: if your Account has a Maryland billing address, American Express elects to offer the Account under Title 12, Subtitle 9 of the Maryland Commercial Law Article to the extent, if any, that Maryland law applies.
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Supporting quotations
Governing law: Utah law and federal law govern this Agreement and your Account without regard to internal principles of conflicts of law. We entered into this Agreement with you in Utah, where we are located and hold your Account. Maryland residents: If your Account has a Maryland billing address, we elect to offer your Account pursuant to Title 12, Subtitle 9 of the Maryland Commercial Law Article to the extent, if any, that Maryland law applies to your Account.
Qualifications & exceptions
The Maryland election is limited to Accounts with a Maryland billing address and applies only to the extent Maryland law applies.
Not stated here
The text of the Maryland law is not supplied here, so what the election changes is not stated.
Legal Rights & Agreement Rules · User right or choice
Oregon residents: service charges are limited to those permitted by law and you may pay more than the minimum
The Notice to Oregon Residents says service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month. It also says you may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.
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Supporting quotations
Notice to Oregon Residents: Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month. You may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.
Charges & Financial Obligations · User right or choice
Washington residents owe no interest caused solely by a delayed merchant credit or delayed posting by American Express
The Notice for residents of Washington State says that, in accordance with the Revised Code of Washington Statutes, Section 63.14.167, you are not responsible for interest charges that result solely from a merchant's failure to transmit to American Express a credit for goods or services accepted for return or forgiven within seven working days, if you have notified American Express of the merchant's delay in posting the credit, or from American Express's failure to post the credit to your Account within three working days of receiving it.
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Supporting quotations
Notice for residents of Washington State: In accordance with the Revised Code of Washington Statutes, Section 63.14.167, you are not responsible for payment of interest charges that result solely from a merchant's failure to transmit to us within seven working days a credit for goods or services accepted for return or forgiven if you have notified us of the merchant's delay in posting such credit, or our failure to post such credit to your Account within three working days of our receipt of the credit.
Qualifications & exceptions
The notice is addressed to residents of Washington State.
It cites a Washington statute by number; the statute's text is not supplied here.
Not stated here
What the cited Washington statute says beyond this notice is not part of this document.
Legal Rights & Agreement Rules · Restriction or exception
Arbitration can be elected until trial or judgment, small claims cases are exempt, and delay waives nothing
American Express will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. Otherwise, you or American Express may elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered. Either side may delay enforcing, or not exercise, rights under the Arbitration provision, including the right to arbitrate a claim, without waiving the right to exercise or enforce those rights.
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Supporting quotations
We will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. You or we may otherwise elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered. Either you or we may delay enforcing or not exercise rights under this Arbitration provision, including the right to arbitrate a claim, without waiving the right to exercise or enforce those rights.
Legal Rights & Agreement Rules · Restriction or exception
Arbitration is individual only, and the provision falls away if the no-class limit is invalid
If either party elects arbitration, the claim will be arbitrated on an individual basis. There is no right or authority for any claims to be arbitrated on a class action basis or on bases involving claims brought in a purported representative capacity on behalf of the general public, other Card Members, or other persons similarly situated. If any portion of these Limitations on Arbitration is deemed invalid or unenforceable, the entire Arbitration provision (other than that sentence) will not apply.
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Supporting quotations
Limitations on Arbitration: If either party elects to resolve a claim by arbitration, that claim will be arbitrated on an individual basis. There will be no right or authority for any claims to be arbitrated on a class action basis or on bases involving claims brought in a purported representative capacity on behalf of the general public, other Card Members, or other persons similarly situated.
Notwithstanding any other provision and without waiving the right to appeal such decision, if any portion of these Limitations on Arbitration is deemed invalid or unenforceable, then the entire Arbitration provision (other than this sentence) will not apply.
Qualifications & exceptions
The invalidity sentence applies "notwithstanding any other provision" and without waiving the right to appeal that decision.
The FAA governs; the arbitrator applies substantive law but not court procedure or evidence rules
The Arbitration provision is governed by the FAA. The arbitrator applies applicable substantive law, statutes of limitations and privileges, but will not apply any federal or state rules of civil procedure or evidence in matters relating to evidence or discovery. Subject to the Limitations on Arbitration, the arbitrator may otherwise award any relief available in court. If your claim is for $10,000 or less, you may choose whether the arbitration is conducted solely on the basis of documents, through a telephonic hearing, or by an in-person hearing. At any party's request, the arbitrator will provide a brief written explanation of the award. At your election, arbitration hearings take place in the federal judicial district of your residence.
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Supporting quotations
Arbitration Procedures: This Arbitration provision is governed by the FAA. The arbitrator will apply applicable substantive law, statutes of limitations and privileges. The arbitrator will not apply any federal or state rules of civil procedure or evidence in matters relating to evidence or discovery. Subject to the Limitations on Arbitration, the arbitrator may otherwise award any relief available in court.
If your claim is for $10,000 or less, you may choose whether the arbitration will be conducted solely on the basis of documents, through a telephonic hearing, or by an in- person hearing. At any party's request, the arbitrator will provide a brief written explanation of the award.
At your election, arbitration hearings will take place in the federal judicial district of your residence.
Qualifications & exceptions
The relief the arbitrator may award is subject to the individual-only limit.
Not stated here
The text of the Federal Arbitration Act is not supplied here.
Legal Rights & Agreement Rules · Restriction or exception
The arbitration is confidential, and the nondisclosure wording is unclear about who is bound
The Arbitration provision says that you and American Express agree the arbitration will be confidential, and then that you and American Express agree "that we will not disclose the content of the arbitration proceeding or its outcome to anyone," but either of you may notify any government authority of the claim as permitted or required by law.
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Supporting quotations
You and we agree that the arbitration will be confidential. You and we agree that we will not disclose the content of the arbitration proceeding or its outcome to anyone, but you or we may notify any government authority of the claim as permitted or required by law.
Qualifications & exceptions
The sentence says "You and we agree that we will not disclose"; read literally, "we" could mean American Express alone or both parties, and the section does not say which.
Not stated here
Whether the nondisclosure duty binds you as well as American Express is not clear from the wording.
An arbitration award is final and binding but can be appealed within 35 days to a three-arbitrator panel
The arbitrator's award is final and binding, subject to each party's right to appeal as stated in the section and/or to challenge or appeal an award under the FAA. To start an appeal, a party must notify the arbitration organization and all parties in writing within 35 days after the award is issued. The organization appoints a three-arbitrator panel that decides anew, by majority vote based on written submissions, any aspect of the decision objected to. The appeal otherwise follows the organization's appellate rules. Judgment on any award may be entered in any court having jurisdiction.
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Supporting quotations
The arbitrator's award will be final and binding, subject to each party's right to appeal as stated in this section and/or to challenge or appeal an arbitration award pursuant to the FAA. To initiate an appeal, a party must notify the arbitration organization and all parties in writing within 35 days after the arbitrator's award is issued. The arbitration organization will appoint a three-arbitrator panel to decide anew, by majority vote based on written submissions, any aspect of the decision objected to. The appeal will otherwise proceed pursuant to the arbitration organization's appellate rules. Judgment upon any award may be entered in any court having jurisdiction.
Qualifications & exceptions
This is an appeal inside arbitration, separate from the "very limited review" by a court mentioned earlier in the section.
Legal Rights & Agreement Rules · Company commitment
You pay your share of arbitration fees only up to the court filing fee, and American Express pays the rest
You are responsible for your share of any arbitration fees (including filing, administrative, hearing or other fees), but only up to the amount of the filing fees you would have incurred if you had brought a claim in court. American Express is responsible for any additional arbitration fees. At your written request, it will consider in good faith making a temporary advance of your share of any arbitration fees, or paying the reasonable fees of an expert appointed by the arbitrator for good cause.
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Arbitration Fees and Costs: You will be responsible for paying your share of any arbitration fees (including filing, administrative, hearing or other fees), but only up to the amount of the filing fees you would have incurred if you had brought a claim in court. We will be responsible for any additional arbitration fees. At your written request, we will consider in good faith making a temporary advance of your share of any arbitration fees, or paying for the reasonable fees of an expert appointed by the arbitrator for good cause.
Qualifications & exceptions
The advance and expert-fee help are only a promise to consider in good faith, not a promise to pay.
Legal Rights & Agreement Rules · User right or choice
If the award beats American Express's final offer, you get at least $5,000 plus attorneys' fees and costs
If the arbitrator rules in your favor for an amount greater than any final offer American Express made before the final hearing, the award includes (1) any money to which you are entitled, but in no case less than $5,000, and (2) any reasonable attorneys' fees, costs and expert and other witness fees.
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Additional Arbitration Awards: If the arbitrator rules in your favor for an amount greater than any final offer we made before the final hearing in arbitration, the arbitrator's award will include:
(1) any money to which you are entitled, but in no case less than $5,000; and (2) any reasonable attorneys' fees, costs and expert and other witness fees.
Qualifications & exceptions
The $5,000 floor applies only when the award exceeds American Express's last offer made before the final hearing.
Not stated here
The section does not say what happens if no final offer was made.
Legal Rights & Agreement Rules · User right or choice
Reject arbitration by mailing a signed notice within 45 days of your first purchase; it also covers other open accounts
You may reject the Arbitration provision by sending a written rejection notice to American Express, P.O. Box 981556, El Paso, TX 79998; a sample notice is at americanexpress.com/reject. The notice must be mailed within 45 days after your first Card purchase, state that you reject the Arbitration provision, and include your name, address, Account number and personal signature. No one else may sign it. If the notice complies, the Arbitration provision and any other arbitration provisions in the Card Member Agreements for your other currently open American Express Accounts will not apply to you, except for Corporate Card Accounts and any claims subject to pending litigation or arbitration when you send the notice. Rejecting does not affect your other rights or responsibilities under the Claims Resolution section or the Agreement, or your ability to use your Card or any other benefit, product or service.
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Supporting quotations
Your Right to Reject Arbitration: You may reject this Arbitration provision by sending a written rejection notice to us at: American Express, P.O. Box 981556, El Paso, TX 79998. Go to americanexpress.com/reject for a sample rejection notice. Your rejection notice must be mailed within 45 days after your first Card purchase. Your rejection notice must state that you reject the Arbitration provision and include your name, address, Account number and personal signature. No one else may sign the rejection notice. If your rejection notice complies with these requirements, this Arbitration provision and any other arbitration provisions in the Card Member Agreements for any other currently open American Express Accounts you have will not apply to you, except for Corporate Card Accounts and any claims subject to pending litigation or arbitration at the time you send your rejection notice. Rejection of this Arbitration provision will not affect your other rights or responsibilities under this Claims Resolution section or the Agreement. Rejecting this Arbitration provision will not affect your ability to use your Card or any other benefit, product or service you may have with your Account.
Qualifications & exceptions
The rejection reaches your other open American Express Accounts, with the stated exceptions.
The Claims Resolution section survives closing the Account, bankruptcy and a sale of the Account
The Claims Resolution section survives termination of your Account, voluntary payment of your Account balance, any legal proceeding to collect a debt, any bankruptcy and any sale of your Account (in a sale, its terms apply to the buyer). If any portion of the section, except as otherwise provided in the Limitations on Arbitration subsection, is deemed invalid or unenforceable, it does not invalidate the remaining portions.
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Supporting quotations
Continuation: This section will survive termination of your Account, voluntary payment of your Account balance, any legal proceeding to collect a debt, any bankruptcy and any sale of your Account (in the case of a sale, its terms will apply to the buyer of your Account). If any portion of this Claims Resolution section, except as otherwise provided in the Limitations on Arbitration subsection, is deemed invalid or unenforceable, it will not invalidate the remaining portions of this Claims Resolution section.
We may sell, transfer or assign this Agreement and your Account. We may do so at any time without notifying you.
Qualifications & exceptions
American Express may sell, transfer or assign the Agreement and your Account at any time without notifying you.
Notices are sent by mail, courier or electronically and count as given when mailed or delivered
American Express sends notices by U.S. mail, courier, or electronically using the information in its records. A notice is considered given when it is mailed or delivered electronically.
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Supporting quotations
How we may contact you:
Sending you notices: We send notices by U.S. mail, courier, or electronically using the information in our records. We consider a notice given when we mail it or deliver it electronically.
Qualifications & exceptions
A notice counts when sent, not when you read it.
Use & Processing · Permission or license
You authorize American Express and its agents to call, text or email you, including by automated dialer
To service your Account or collect amounts you owe, you authorize American Express, its affiliates, agents and contractors (such as debt collection agencies and service providers) to contact you at any phone number or email address you provide, from which you contact them, or at which they believe they can reach you. They may contact you in any way permitted by law, such as calling, texting, emailing or sending mobile application push notifications. They may use an automated dialer or prerecorded messages, and may contact you on a mobile or similar device even if you are charged for it.
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Supporting quotations
Servicing and Collections: If we need to contact you to service your Account or to collect amounts you owe, you authorize us (and our affiliates, agents and contractors, such as debt collection agencies and service providers) to contact you at any phone number or email address you provide, from which you contact us, or at which we believe we can reach you. We may contact you in any way, such as calling, texting, emailing, sending mobile application push notifications or using any other method of communication permitted by law. We may contact you using an automated dialer or prerecorded messages. We may contact you on a mobile, wireless or similar device, even if you are charged for it.
Qualifications & exceptions
The authorization covers both servicing and collections.
Not stated here
The agreement does not describe how to opt out of any of these contacts.
Data Access & Collection · Permission or license
American Express may monitor and record calls between you and it
American Express may monitor and record any calls between you and it.
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Supporting quotations
Call monitoring: We may monitor and record any calls between you and us.
Not stated here
The agreement does not say how long recordings are kept or how they are used.
Account & Service Control · Restriction or exception
You must tell American Express right away when contact details change, and it may update your billing address
You must notify American Express immediately if you change your mailing address, email address or telephone number, separately for each Account if you have more than one. American Express may update your billing address if it receives information that it has changed or is incorrect.
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Supporting quotations
Changing your contact information: You must notify us immediately if you change your mailing address, email address, or telephone number. If you have more than one Account, you need to notify us separately for each Account. We may update your billing address if we receive information that it has changed or is incorrect.
Legal Rights & Agreement Rules · Restriction or exception
If American Express credits a disputed charge, you assign it your claims against the merchant for that amount
If you dispute a charge with a merchant, American Express may credit the Account for all or part of the disputed charge. If it does, you assign and transfer to American Express all rights and claims (excluding tort claims) against the merchant. You agree not to pursue any claim against the merchant for the credited amount and to cooperate with American Express if it decides to pursue the merchant.
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Supporting quotations
Disputed charges: If you dispute a charge with a merchant, we may credit the Account for all or part of the disputed charge. If we do so, you assign and transfer to us all rights and claims (excluding tort claims) against the merchant.
You agree that you will not pursue any claim against the merchant for the credited amount and you will cooperate with us if we decide to do so.
Qualifications & exceptions
Tort claims are excluded from the assignment.
Data Access & Collection · Permission or license
You agree American Express may get credit reports on you and use them for any purpose, including marketing
You agree that American Express will obtain credit reports about you, investigate your ability to pay, and obtain information about you from other sources, including information to verify and re-verify your employment and income. You agree it will use that information for any purposes (for example, marketing to you or evaluating you for a new Account), subject to applicable law.
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Supporting quotations
Credit reports: You agree that we will obtain credit reports about you, investigate your ability to pay, and obtain information about you from other sources including information to verify and re-verify your employment and income. And you agree that we will use such information for any purposes (for example, marketing to you or evaluating you for a new Account), subject to applicable law.
Qualifications & exceptions
The agreement gives marketing and evaluating you for a new Account as examples, not as limits.
Not stated here
The agreement does not name the "other sources" it may use.
American Express reports Account information to credit reporting agencies and tells them if you break the Agreement
You agree that American Express will give information about the Account to credit reporting agencies, and it will tell a credit reporting agency if you fail to comply with the Agreement, which may have a negative impact on your credit report. If you believe information given to a credit reporting agency is incorrect, you can write to American Express Credit Bureau Unit, P.O. Box 981537, El Paso, TX 79998-1537, and tell it the specific information you believe is incorrect.
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Supporting quotations
You agree that we will give information about the Account to credit reporting agencies. We will tell a credit reporting agency if you fail to comply with the terms of this Agreement. This may have a negative impact on your credit report.
If you believe information we have given to a credit reporting agency is incorrect, write to us at: American Express Credit Bureau Unit, P.O. Box 981537, El Paso, TX 79998-1537. When you write to us, tell us the specific information you believe is incorrect.
Account & Service Control · Restriction or exception
American Express may treat the Account as in default on violations, false information, bankruptcy or doubts
American Express may consider your Account to be in default if you violate a provision of the Agreement, give false information, file for bankruptcy, default under another agreement with American Express or an affiliate, or if American Express believes you are unable or unwilling to pay your debts when due.
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Supporting quotations
Default: We may consider your Account to be in default if:
you violate a provision of this Agreement,
you give us false information,
you file for bankruptcy,
you default under another agreement you have with us or an affiliate, or
we believe you are unable or unwilling to pay your debts when due.
Qualifications & exceptions
The last trigger turns on American Express's belief, not on a missed payment or a court finding.
Not stated here
The list does not say which provisions of the Agreement a violation must concern, or what counts as another agreement with an affiliate.
The text of any linked document that this default trigger might point to is not supplied here, so this card cannot say what such a document contains.
After a default, incapacity or death, American Express may suspend charges and demand immediate payment of the balance
If American Express considers your Account in default, or if you become incapacitated or die, it may, to the extent permitted by federal and applicable state law, suspend your ability to make charges, cancel or suspend any feature on your Account, require you to pay more than your Minimum Payment Due immediately, and require you to pay your Account balance immediately.
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Supporting quotations
If we consider your Account in default, or if you become incapacitated or die, we may, to the extent permitted by federal and applicable state law:
suspend your ability to make charges,
cancel or suspend any feature on your Account,
require you to pay more than your Minimum Payment Due immediately, and
require you to pay your Account balance immediately.
Qualifications & exceptions
The options are permissions ("may"), limited by federal and applicable state law.
Charges & Financial Obligations · Restriction or exception
You agree to pay reasonable collection costs including attorneys' fees
You agree to pay all reasonable costs, including attorneys' fees, that American Express incurs to collect amounts you owe.
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Supporting quotations
Collection costs: You agree to pay all reasonable costs, including attorneys' fees, that we incur to collect amounts you owe.
American Express may cancel or suspend the Account at any time for any reason, and may charge fees to reinstate it
American Express may, at any time and for any reason, cancel your Account, suspend your ability to make charges, or cancel or suspend any feature on your Account. If it does, you must still pay for all charges under the Agreement. It may agree to reinstate your Account and any Additional Cards, and charge you any applicable annual fees and a fee to reinstate the Account.
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Supporting quotations
Closing or suspending your Account: We may, at any time and for any reason: cancel your Account, suspend your ability to make charges, or cancel or suspend any feature on your Account. If we do any of these, you must still pay us for all charges under the terms of this Agreement. We may agree to reinstate your Account, reinstate any Additional Cards issued on your Account, and charge you any applicable annual fees and a fee to reinstate the Account.
Not stated here
This block does not state the reinstatement fee amount; another sentence in this section mentions a $25 fee for re-opening.
Charges & Financial Obligations · User right or choice
You can close the Account by call or letter; the annual fee is refunded only if you close within 30 days
You may close your Account by calling or writing to American Express. If an Annual Fee applies, it will be refunded if you tell American Express you are voluntarily closing the Account within 30 days after the Closing Date of the billing statement on which that fee appears. For cancellations after that 30-day period, the Annual Fee is non-refundable. If your billing address is in the Commonwealth of Massachusetts when you close your Account, this policy will not apply to you.
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Supporting quotations
You may close your Account by calling us or writing to us. If an Annual Fee applies, we will refund this fee if you notify us that you are voluntarily closing your Account within 30 days after the Closing Date of the billing statement on which that fee appears. For cancellations after this 30-day period, the Annual Fee is non-refundable. If your billing address is in the Commonwealth of Massachusetts at the time you close your Account, this policy will not apply to you.
Qualifications & exceptions
The Massachusetts sentence says the refund policy "will not apply" to Massachusetts billing addresses.
Not stated here
The agreement does not say what rule applies to the annual fee instead for a Massachusetts billing address, so whether the fee would be refundable there is not stated.
Cross-references
qualifies (model-proposed): The annual fee is $895 — The $895 annual fee is refundable only if the Account is voluntarily closed within 30 days after the Closing Date of the statement showing it, with a Massachusetts exception stated in Part 3.
Charges & Financial Obligations · Permission or license
American Express may charge a $25 fee if it re-opens a cancelled Account at your request
If your Account is cancelled and American Express re-opens it at your request, it may charge you a $25 fee.
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Supporting quotations
If your Account is cancelled and we re-open it at your request, we may charge you a $25 fee.
Qualifications & exceptions
Part 1 lists a $25 Account Re-opening fee (see that card).
Cross-references
contrast (model-proposed): Re-opening a cancelled Account costs $25 — Part 1 lists the $25 re-opening fee as applying if the Account is cancelled, re-opened at your request and American Express does so; Part 3 says American Express "may charge" a $25 fee. The wording differs between permissive and fixed, and the document does not reconcile them.
Charges & Financial Obligations · Permission or license
Paying by check lets American Express make a one-time electronic debit, possibly same day, and keep the check
When you pay by check, you authorize American Express to use information from your check (such as routing number, account number and check serial number) to make a one-time electronic fund transfer from your bank or other asset account. Your payment may be withdrawn as soon as the same day American Express receives your check, and you will not receive the check back from your bank or financial institution. In certain circumstances it may process your payment as a check transaction.
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Supporting quotations
When you pay us by check; permission for electronic debit: When you pay us by check, you authorize us to use information from your check (such as routing number, account number and check serial number) to make a one-time electronic fund transfer from your bank or other asset account. When we do this, your payment may be withdrawn from your bank or other asset account as soon as the same day we receive your check, and you will not receive that check back from your bank or financial institution. In certain circumstances, we may process your payment as a check transaction.
Account & Service Control · Restriction or exception
The Card is available only if you maintain an eligible Schwab account, and eligibility can change
The Platinum Card from American Express Exclusively for Charles Schwab is only available to you if you maintain an eligible account at Schwab. An eligible account is either (1) a Schwab One or Schwab General Brokerage Account held in your name, or in the name of a revocable living trust where you are the grantor and trustee, or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor under a direct contractual relationship between you and that advisor. Eligibility is subject to change.
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Supporting quotations
The Platinum Card® from American Express Exclusively for Charles Schwab is only available to you if you maintain an eligible account at Schwab.
An eligible account means either (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor. Eligibility is subject to change.
We may change this Agreement, subject to applicable law.
Qualifications & exceptions
The Card Member Agreement also says American Express may change the Agreement, subject to applicable law.
Not stated here
The supplement does not say how or when a change in eligibility would be communicated.
American Express may cancel the Card Account and program participation if you stop maintaining an eligible account
American Express may cancel your Card Account and your participation in this program if you do not maintain an eligible Schwab account.
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Supporting quotations
We may cancel your Platinum Card® from American Express Exclusively for Charles Schwab Card Account (Card Account) and participation in this program if you do not maintain an eligible account.
Qualifications & exceptions
The sentence is permissive ("may cancel"); it does not say American Express will cancel, or give a grace period or notice.
Not stated here
The supplement does not say how soon after losing an eligible account the Card Account might be cancelled.
Charges & Financial Obligations · Restriction or exception
The Schwab Appreciation Bonus goes only to the Basic Card Member, once per year of Card Membership
The Schwab Appreciation Bonus is only available to the Basic Card Member on the Card Account. It is awarded based on either (1) the Basic Card Member's membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth, or (2) the Basic Card Member's Qualifying Schwab Holdings. A Basic Card Member may receive only one Schwab Appreciation Bonus each year of Card Membership.
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Supporting quotations
Schwab Appreciation Bonus: This benefit is only available to the Basic Card Member on the Card Account and will be awarded based on either 1) the Basic Card Member’s membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth or 2) the Basic Card Member’s Qualifying Schwab Holdings, in each case as described below. Basic Card Members may only receive one Schwab Appreciation Bonus each year of Card Membership.
Not stated here
The supplement does not say how a "year of Card Membership" is counted beyond the annual renewal month described in the measurement dates.
Charges & Financial Obligations · Company practice
Membership and holdings are measured only on two Measurement Dates each year
Membership in the listed Schwab programs, or Qualifying Schwab Holdings, is measured within five business days after (a) Card account approval and then (b) the first calendar day of your annual Card account renewal month. Each of these dates is a Measurement Date. Only holdings or membership as of each Measurement Date are evaluated for the bonus. To find your annual renewal month, you call the number on the back of the Card.
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Supporting quotations
Your membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, Advisor Services Ultra-High Net Worth, or Qualifying Schwab Holdings will be measured within five business days after (a) Card account approval and then (b) the first calendar day of your annual Card account renewal month (each date, a "Measurement Date").
Only Qualifying Schwab Holdings, or membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits or Advisor Services Ultra-High Net Worth programs, in each case as of each Measurement Date will be evaluated to determine eligibility for this benefit.
For information about your annual Card Account renewal month, please call the number on the back of your Card.
Qualifications & exceptions
Holdings or membership on other days do not count under this wording.
Charges & Financial Obligations · Company practice
The bonus is a $100, $200 or $1,000 statement credit based on holdings, or $1,000 for program membership
If on a Measurement Date your Qualifying Schwab Holdings are at least $250,000 but under $1,000,000, you receive a $100 Card statement credit; at least $1,000,000 but under $10,000,000, $200; and $10,000,000 or more, $1,000. If you are a member of Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth, you receive a $1,000 Card statement credit.
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Supporting quotations
Schwab Appreciation Bonus Amounts: If on a Measurement Date either:
your Qualifying Schwab Holdings are:
a. equal to or greater than $250,000 and less than $1,000,000, you will receive a $100 Card statement credit; or
b. equal to or greater than $1,000,000 and less than $10,000,000, you will receive a $200 Card statement credit; or;
c. equal to or greater than $10,000,000, you will receive a $1,000 Card statement credit. or
you are a member of Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth, you will receive a $1,000 Card statement credit.
Qualifications & exceptions
Only one Schwab Appreciation Bonus can be received each year of Card Membership.
Another section of the Agreement says American Express has the right to add, modify or remove any benefit, feature or service related to the Account at its discretion (see the Changing benefits card in Part 3).
Not stated here
The supplement does not say which amount applies if a Card Member meets both a holdings tier and the membership condition on the same Measurement Date.
No credit amount is listed for Qualifying Schwab Holdings below $250,000.
The Schwab Private Wealth Services and Advisor Services programs have their own terms that this document does not supply
The supplement says Terms and Conditions apply to the Schwab Private Wealth Services program and to the Advisor Services Ultra-High Net Worth program, and gives Schwab web addresses for more information.
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Terms and Conditions apply to the Schwab Private Wealth Services program including; visit schwab.com/ programdetails for more information.
Terms and Conditions apply to the Advisor Services Ultra-High Net Worth program; visit client.schwab.com/secured/ alliance/products/ultra-high-net-worth-program-details for more information.
Not stated here
The terms of those programs are on Schwab websites that are not part of this document, so what they require for membership is unknown here.
Charges & Financial Obligations · Company practice
The Schwab Appreciation Bonus may be taxable income and you are responsible for any taxes
The Schwab Appreciation Bonus may be taxable income and may be reported on Form 1099. You are responsible for any federal or state taxes resulting from it. The supplement suggests consulting a tax advisor with questions.
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Supporting quotations
The Schwab Appreciation bonus may be taxable income and may be reported on Form 1099. You are responsible for any federal or state taxes resulting from the Schwab Appreciation Bonus. Please consult your tax advisor if you have questions about the tax treatment of the Schwab Appreciation Bonus.
Charges & Financial Obligations · Context
Qualifying Schwab Holdings add up listed brokerage, retirement and Schwab Bank accounts plus Schwab Bank loan balances
Qualifying Schwab Holdings are the sum of the aggregate assets in listed non-retirement Schwab Brokerage account types (individual, joint, revocable living trusts where the grantor and trustee are the same, testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct and life estate accounts) where the Basic Card Member is an owner, grantor or trustee; plus listed retirement account types (Traditional IRAs, Roth and Roth Conversion IRAs and Rollover IRAs, excluding any managed by an independent investment advisor under a direct contractual relationship); plus listed Schwab Bank account types where the Basic Card Member is an owner or grantor (checking, savings, money market, certificate of deposit and pledged asset accounts); plus the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in the listed accounts are excluded.
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Supporting quotations
Qualifying Schwab Holdings are the sum of the following assets and obligations: the aggregate assets held in the following non-retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: individual, joint, revocable living trusts (where the grantor and trustee are the same), testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct, and life estate accounts; plus the aggregate assets held in the following retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: Traditional Individual Retirement Accounts ("IRAs"), Roth and Roth Conversion IRAs and Rollover IRAs, but excluding IRAs, Roth and Roth Conversion IRAs and Rollover IRAs that are managed by an independent investment advisor pursuant to a direct contractual relationship between the Basic Card Member and such independent investment advisor; plus the aggregate assets held in the following Schwab Bank Account types over which the Basic Card Member is an owner or grantor: checking, savings, money market, certificate of deposit, and pledged asset accounts; plus the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in accounts listed above are excluded.
Qualifications & exceptions
As written, the Schwab Bank mortgage and home equity loan balances are added ("plus") to the total; the definition calls the components "assets and obligations" but does not explain how the loan balances are treated beyond that wording.
Not stated here
The definition does not say whether holdings of Additional Card Members count; it refers only to the Basic Card Member.
Charges & Financial Obligations · Restriction or exception
The bonus can take up to 8 weeks to post and may be lost if the Card Account is cancelled or past due
American Express asks you to allow up to 8 weeks after each Measurement Date for the Schwab Appreciation Bonus to post to your Card account. If the Card Account is cancelled or past due when the statement credit is to be fulfilled, it may not qualify to receive the statement credit.
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Supporting quotations
Please allow up to 8 weeks after each Measurement Date for the Schwab Appreciation Bonus to be posted to your Card account. If the Card Account is cancelled or past due at the time of statement credit fulfillment, it may not qualify to receive a statement credit.
Qualifications & exceptions
The wording is "may not qualify", so the supplement does not say the credit is always lost.
Charges & Financial Obligations · Procedure
Schwab statements and schwab.com show your account types and balances; Schwab answers holdings questions
Your Schwab Brokerage and Schwab Bank account types are described on your account statements at schwab.com (or schwaballiance.com for clients of independent investment advisors). You can view your Schwab Brokerage and Schwab Bank balances on the Account Summary page of schwab.com (or schwaballiance.com for clients of independent investment advisors). For questions about your Qualifying Schwab Holdings, you contact Schwab at 866-385-1227.
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Supporting quotations
Your Schwab Brokerage and Schwab Bank Account types are described on your account statements available at schwab.com (or schwaballiance.com for clients of independent investment advisors). You can view your Schwab Brokerage and Schwab Bank balances on the Account Summary page of schwab.com (or schwaballiance.com for clients of independent investment advisors).
For questions about your Qualifying Schwab Holdings, please contact Schwab at 866-385-1227.
Legal Rights & Agreement Rules · User right or choice
Disputes start with customer service, then mediation, arbitration or court; arbitration can be rejected in 45 days
Most concerns can be resolved by calling Customer Service at the number on the back of your Card. If Customer Service cannot resolve a complaint to your satisfaction, the Claims Resolution section explains how claims can be resolved through mediation, arbitration or litigation, and it includes an arbitration provision. You may reject the arbitration provision by sending written notice within 45 days after your first Card purchase.
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Claims Resolution
Most customer concerns can be resolved by calling our Customer Service Department at the number listed on the back of your Card. In the event Customer Service is unable to resolve a complaint to your satisfaction, this section explains how claims can be resolved through mediation, arbitration or litigation. It includes an arbitration provision. You may reject the arbitration provision by sending us written notice within 45 days after your first Card purchase. See Your Right to Reject Arbitration below.
Your rejection notice must be mailed within 45 days after your first Card purchase.
Qualifications & exceptions
The rejection procedure and what it covers are set out in Your Right to Reject Arbitration, which says the notice must be mailed within 45 days after your first Card purchase.
"You" and "us" include parents, subsidiaries and affiliates, and a Claim covers almost any dispute about your Account
In this section, "you" and "us" include any corporate parents, subsidiaries, affiliates or related persons or entities. A Claim means any current or future claim, dispute or controversy relating to your Account(s), the Agreement, or any agreement or relationship you have or had with American Express, except for the validity, enforceability or scope of the Arbitration provision. A Claim includes initial claims, counterclaims, crossclaims and third-party claims; claims based on contract, tort, fraud, statute, regulation, common law and equity; and claims by or against any third party using or providing any product, service or benefit in connection with any account.
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For this section, you and us includes any corporate parents, subsidiaries, affiliates or related persons or entities. Claim means any current or future claim, dispute or controversy relating to your Account(s), this Agreement, or any agreement or relationship you have or had with us, except for the validity, enforceability or scope of the Arbitration provision. Claim includes but is not limited to: (1) initial claims, counterclaims, crossclaims and third-party claims; (2) claims based upon contract, tort, fraud, statute, regulation, common law and equity; (3) claims by or against any third party using or providing any product, service or benefit in connection with any account; and
Qualifications & exceptions
Disputes about the validity, enforceability or scope of the Arbitration provision itself are carved out of the definition of Claim.
Not stated here
This section does not say who decides disputes about the validity, enforceability or scope of the Arbitration provision.
Legal Rights & Agreement Rules · Context
Claims also cover advertising, Card benefits, rewards and your application, and cannot be sold or assigned
Claims also include claims that arise from or relate to any account created under any of the agreements or any balances on such an account; advertisements, promotions or statements related to accounts, goods or services financed under accounts, or terms of financing; benefits and services related to Card Membership (including fee-based or free benefit programs, enrollment services and rewards programs); and your application for any account. You may not sell, assign or transfer a claim.
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Supporting quotations
(4) claims that arise from or relate to (a) any account created under any of the agreements, or any balances on any such account, (b) advertisements, promotions or statements related to any accounts, goods or services financed under any accounts or terms of financing, (c) benefits and services related to Card Membership (including fee-based or free benefit programs, enrollment services and rewards programs) and (d) your application for any account. You may not sell, assign or transfer a claim.
Qualifications & exceptions
The definition names benefit programs and rewards programs related to Card Membership without listing which programs those are.
Legal Rights & Agreement Rules · Procedure
Before a lawsuit, mediation or arbitration, each side sends a written claim notice stating the relief demanded
Before beginning a lawsuit, mediation or arbitration, you and American Express agree to send a written claim notice to each party against whom a claim is asserted, to give a chance to resolve the claim informally or through mediation. The notice must describe the claim and state the specific relief demanded; a sample is at americanexpress.com/claim. Notice to you may be provided by your billing statement or sent to your billing address. Notice to American Express must include your name, address and Account number and be sent to American Express ADR c/o CT Corporation System, 28 Liberty Street, New York, New York 10005. If the claim goes to arbitration, the amount of relief demanded in a claim notice is not disclosed to the arbitrator until after the arbitrator rules.
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Sending a Claim Notice: Before beginning a lawsuit, mediation or arbitration, you and we agree to send a written notice (a claim notice) to each party against whom a claim is asserted, in order to provide an opportunity to resolve the claim informally or through mediation. Go to americanexpress.com/claim for a sample claim notice. The claim notice must describe the claim and state the specific relief demanded. Notice to you may be provided by your billing statement or sent to your billing address. Notice to us must include your name, address and Account number and be sent to American Express ADR c/o CT Corporation System, 28 Liberty Street, New York, New York 10005. If the claim proceeds to arbitration, the amount of any relief demanded in a claim notice will not be disclosed to the arbitrator until after the arbitrator rules.
Legal Rights & Agreement Rules · Procedure
Either side may use JAMS or AAA mediation within 30 days of a claim notice; American Express pays the mediator
In mediation, a neutral mediator helps the parties resolve a claim but does not decide it. Before mediation, you or American Express must first send a claim notice. Within 30 days after sending or receiving a claim notice, either side may submit the claim to JAMS or the American Arbitration Association (AAA) for mediation. American Express will pay the fees of the mediator.
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Mediation: In mediation, a neutral mediator helps parties resolve a claim. The mediator does not decide the claim but helps parties reach agreement. Before beginning mediation, you or we must first send a claim notice. Within 30 days after sending or receiving a claim notice, you or we may submit the claim to JAMS (1-800-352-5267, jamsadr.com) or the American Arbitration Association ("AAA") (1-800-778- 7879, adr.org) for mediation. We will pay the fees of the mediator.
Legal Rights & Agreement Rules · Restriction or exception
Mediation is confidential, pauses time limits and can be ended by either side without blocking arbitration
All mediation-related communications are confidential, inadmissible in court and not subject to discovery. All applicable statutes of limitation are tolled from the date the claim notice is sent until termination of the mediation. Either you or American Express may terminate the mediation at any time. Submitting or failing to submit a claim to mediation does not affect either side's right to elect arbitration.
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All mediation-related communications are confidential, inadmissible in court and not subject to discovery.
All applicable statutes of limitation will be tolled from the date you or we send the claim notice until termination of the mediation. Either you or we may terminate the mediation at any time. The submission or failure to submit a claim to mediation will not affect your or our right to elect arbitration.
Legal Rights & Agreement Rules · Restriction or exception
Either side may elect individual arbitration, ending court and jury rights, except small claims court cases
You or American Express may elect to resolve any claim by individual arbitration, decided by a neutral arbitrator. If arbitration is chosen by any party, neither you nor American Express has the right to litigate that claim in court or have a jury trial on it. American Express will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. Otherwise, either side may elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered.
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Arbitration: You or we may elect to resolve any claim by individual arbitration. Claims are decided by a neutral arbitrator.
If arbitration is chosen by any party, neither you nor we will have the right to litigate that claim in court or have a jury trial on that claim.
Other rights you or we would have in court may also not be available in arbitration.
We will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. You or we may otherwise elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered.
Qualifications & exceptions
The agreement says other rights you would have in court may also not be available in arbitration.
Covered borrowers under the Military Lending Act are not subject to the Arbitration provision under an earlier section of this Agreement (see that card), and you may reject the Arbitration provision within 45 days after your first Card purchase.
Arbitration is the choice of either party, so American Express can elect it even if you started the claim in court (before trial begins or judgment is entered).
Legal Rights & Agreement Rules · Restriction or exception
Arbitrated claims cannot be class, representative or joined, and the provision falls if that limit is invalid
If arbitration is chosen, you and American Express will not have the right to participate in a representative capacity or as a member of any class pertaining to any claim subject to arbitration. The arbitrator's authority is limited to claims between you and American Express alone, and claims may not be joined or consolidated unless you and American Express agree in writing. If any portion of the Limitations on Arbitration is deemed invalid or unenforceable, the entire Arbitration provision (other than that sentence) will not apply.
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Supporting quotations
Further, you and we will not have the right to participate in a representative capacity or as a member of any class pertaining to any claim subject to arbitration.
The arbitrator's authority is limited to claims between you and us alone. Claims may not be joined or consolidated unless you and we agree in writing.
Notwithstanding any other provision and without waiving the right to appeal such decision, if any portion of these Limitations on Arbitration is deemed invalid or unenforceable, then the entire Arbitration provision (other than this sentence) will not apply.
Qualifications & exceptions
The invalidity sentence is written to apply "notwithstanding any other provision" and without waiving the right to appeal such a decision.
Arbitration is simpler than court with limited discovery, and decisions are final with very limited court review
Arbitration procedures are generally simpler than the rules that apply in court, and discovery is more limited. An arbitration award and any judgment confirming it applies only to the specific case and cannot be used in any other case except to enforce the award. The arbitrator's decisions are as enforceable as any court order and are subject to very limited review by a court. Except as set forth in the rest of the section, the arbitrator's decision is final and binding.
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Supporting quotations
Arbitration procedures are generally simpler than the rules that apply in court, and discovery is more limited.
An arbitration award and any judgment confirming it will apply only to the specific case and cannot be used in any other case except to enforce the award. The arbitrator's decisions are as enforceable as any court order and are subject to very limited review by a court. Except as set forth below, the arbitrator's decision will be final and binding.
Qualifications & exceptions
The rest of the section describes an appeal process within the arbitration organization (see the arbitration procedures card).
JAMS or AAA hears arbitration as the electing party chooses; you pick the other if American Express chooses
Before arbitration begins, you or American Express must first send a claim notice. Claims are referred to either JAMS or AAA, as selected by the party electing arbitration, and resolved under the Arbitration provision and the selected organization's rules in effect when the claim is filed, except where those rules conflict with the Agreement. If American Express chooses the organization, you may select the other within 30 days after receiving notice of its selection. Claims may also be referred to another arbitration organization if you and American Express agree in writing, or to an arbitrator appointed under section 5 of the Federal Arbitration Act, 9 U.S.C. sec. 1-16 (FAA).
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Initiating Arbitration: Before beginning arbitration, you or we must first send a claim notice. Claims will be referred to either JAMS or AAA, as selected by the party electing arbitration. Claims will be resolved pursuant to this Arbitration provision and the selected organization's rules in effect when the claim is filed, except where those rules conflict with this Agreement. If we choose the organization, you may select the other within 30 days after receiving notice of our selection. Contact JAMS or AAA to begin an arbitration or for other information. Claims also may be referred to another arbitration organization if you and we agree in writing or to an arbitrator appointed pursuant to section 5 of the Federal Arbitration Act, 9 U.S.C. sec. 1-16 (FAA).
Not stated here
The text of the Federal Arbitration Act is not supplied here.
Charges & Financial Obligations · Company practice
A Plan It plan fee depends on which balance the purchase was in when the plan is created
You create a plan by selecting qualifying purchases and a plan duration, and you can view the monthly plan payments, including the plan fee, before creating it. For a purchase in your Pay Over Time balance, the plan fee is based on the APR that would otherwise apply to it. For a purchase in your Pay In Full balance, it is based on the APR that applies to the Pay Over Time feature when you create the plan. For a purchase divided between the two balances because only part was moved on the Closing Date, it is based on the lower of those two APRs. The table caps the monthly fee at up to 1.33% of each purchase placed in a plan.
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You may use this feature by selecting qualifying purchases and a plan duration. You will be able to view the monthly plan payments, including the plan fee, for your selection. Each plan fee will be disclosed before you create the applicable plan. If you create a plan for a purchase in your Pay Over Time balance, the purchase will be added to a plan balance and will be subject to a plan fee based on the APR that would otherwise apply to the purchase amount. If you create a plan for a purchase that is in your Pay In Full balance, the purchase will be added to a plan balance and will be subject to a plan fee based on the APR that applies to the Pay Over Time feature at the time you create the plan. If you create a plan for a purchase that is divided between your Pay Over Time and Pay In Full balances, because only a portion of that purchase was moved to your Pay Over Time balance on your Closing Date, the purchase will be added to a plan balance and will be subject to a plan fee based on either the APR that would otherwise apply (to the portion of the purchase that was in your Pay Over Time balance) or the APR that applies to the Pay Over Time feature at the time you create the plan, whichever is lower.
A monthly plan fee of up to 1.33% of each purchase placed in a plan
subject to a plan fee
Qualifications & exceptions
The fee is described as a fixed finance charge that is charged each month a plan is active.
Not stated here
The agreement does not state how the plan duration and "other factors" change the monthly percentage within the 1.33% maximum.
Charges & Financial Obligations · Restriction or exception
Only purchases of at least a set dollar amount qualify for Plan It, excluding cash, foreign-fee purchases and fees
A qualifying purchase for Plan It is a purchase of at least a specified dollar amount. Qualifying purchases do not include purchases of cash or cash equivalents, purchases subject to Foreign Transaction Fees, or any fee owed to American Express, such as Annual Fees.
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A qualifying purchase for Plan It is a purchase of at least a specified dollar amount. Qualifying purchases do not include purchases of cash or cash equivalents, purchases subject to Foreign Transaction Fees, or any fee owed to us, such as Annual Fees.
Not stated here
The specified minimum dollar amount is not given in this agreement.
Charges & Financial Obligations · Restriction or exception
Whether you can create a plan depends on creditworthiness, limits and the status of your American Express Accounts
Your ability to create plans is based on a variety of factors such as your creditworthiness and your Pay Over Time Limit, and you may not be able to create a plan if it would make you exceed the Pay Over Time Limit. You cannot create plans if your Pay Over Time feature is suspended or your Account is cancelled, or if one or more of your American Express Accounts is enrolled in a payment program, has a payment returned unpaid, or is past due. American Express will tell you the number of active plans you may have and may change that number at any time. The plan durations offered, and whether you can include multiple qualifying purchases in one plan, are at its discretion based on factors such as creditworthiness, the purchase amounts and your Account history.
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Supporting quotations
Your ability to create plans will be based on a variety of factors such as your creditworthiness and your Pay Over Time Limit. You may not be able to create a plan if it would cause you to exceed your Pay Over Time Limit. You will not be able to create plans if your Pay Over Time feature is suspended or your Account is cancelled. You will also not be able to create plans if one or more of your American Express Accounts is enrolled in a payment program, has a payment that is returned unpaid, or is past due. We will tell you the number of active plans you may have, and we may change this number at any time. The plan durations offered to you, and your ability to include multiple qualifying purchases in a single plan, will be at our discretion and will be based on a variety of factors such as your creditworthiness, the purchase amount(s), and your Account history.
Qualifications & exceptions
The payment-program, returned-payment and past-due conditions refer to any of your American Express Accounts, not only this Account.
Not stated here
The agreement does not give the number of plans allowed or the available durations.
Charges & Financial Obligations · User right or choice
Plans cannot be cancelled once created, but you can pay one off early and stop future plan fees
Plans cannot be cancelled after they are created. You can choose to pay a plan early by paying the Account Total New Balance shown on your most recent billing statement in full, and if you pay a plan off early you will not incur any future plan fees on it.
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Plans cannot be cancelled after they have been created, but you can choose to pay them early by paying the Account Total New Balance shown on your most recent billing statement in full. If you pay a plan off early, you will not incur any future plan fees on that plan.
Charges & Financial Obligations · Restriction or exception
The Pay Over Time Limit caps your Pay Over Time, Cash Advance and Plan balances but is not a spending limit
If you have Pay Over Time, American Express assigns a Pay Over Time Limit to your Account, shown on page 1 of Part 1 and on each billing statement. It applies to the total of your Pay Over Time, Cash Advance and Plan balances, and your Pay Over Time balance cannot exceed it. If adding a charge would exceed it, the charge goes to your Pay In Full balance. Delays in posting cash advances or plans can let the total exceed the limit. The limit is not a spending limit: American Express may approve or decline a charge whether your balance is above or below it. You must pay in full, by the Payment Due Date, all charges that are not added to a Pay Over Time, Cash Advance or Plan balance.
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Pay Over Time Limit: If you have Pay Over Time, we assign a Pay Over Time Limit to your Account, which is shown on page 1 of Part 1 and on each billing statement. The Pay Over Time Limit applies to the total of your Pay Over Time, Cash Advance, and Plan balances. Your Pay Over Time balance cannot exceed your Pay Over Time Limit. If the addition of a charge would cause your Pay Over Time balance to exceed your Pay Over Time Limit, that charge will be added to your Pay In Full balance. When there is a delay in posting cash advances or plans to your Account, the total of your Pay Over Time, Cash Advance, and Plan balances may exceed your Pay Over Time Limit. The Pay Over Time Limit is not a spending limit. We may approve or decline a charge regardless of whether your Card Account balance is greater or less than your Pay Over Time Limit.
You must pay in full, by the Payment Due Date, all charges that are not added to a Pay Over Time, Cash Advance, or Plan balance.
Not stated here
The Pay Over Time Limit amount is not given in this document, although the text says it is shown on page 1 of Part 1; the Part 1 text provided here lists no limit amount.
Charges & Financial Obligations · Permission or license
American Express may raise or lower the Pay Over Time Limit at any time, even if you pay on time
American Express may increase or reduce your Pay Over Time Limit at any time, even if you pay on time and your Account is not in default. It says it will tell you if it changes the limit.
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We may increase or reduce your Pay Over Time Limit at any time. We may do so even if you pay on time and your Account is not in default. We will tell you if we change your Pay Over Time Limit.
Not stated here
The agreement does not say how far ahead of a change you will be told.
Charges & Financial Obligations · Company practice
You promise to pay all charges, including those made by Additional Card Members or others you permit
You promise to pay all charges added to your Account, including charges that you or your Additional Card Members make, or permit others to make, even if the Card is not presented or the transaction is not signed for. You must pay the Amount Due, or at least the Minimum Payment Due as applicable, on or before the Payment Due Date, in the time and manner shown on each billing statement.
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Supporting quotations
Promise to pay: You promise to pay all charges added to your Account, including charges that you or your Additional Card Members make, or permit others to make, even if you or they do not present the Card or sign for the transaction. When you must pay: You must pay the Amount Due, or at least the Minimum Payment Due, as applicable, on or before the Payment Due Date in the time and manner shown on each billing statement.
Charges & Financial Obligations · Procedure
Payments must be in U.S. dollars by check, negotiable instrument or electronic payment, with mailing rules
Payments must be made in U.S. dollars with a single check drawn on a U.S. bank, a single negotiable instrument clearable through the U.S. banking system (such as a money order), or an electronic payment that can be cleared through the U.S. banking system. When paying by mail, make a separate payment for each Account, mail it to the address on the payment coupon on your billing statement, and write your Account number on your check or negotiable instrument and include the payment coupon.
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Supporting quotations
How to make payments: Make payments to us in U.S. dollars with:
a single check drawn on a U.S. bank, or
a single negotiable instrument clearable through the U.S. banking system, for example a money order, or
an electronic payment that can be cleared through the U.S. banking system.
When making a payment by mail:
make a separate payment for each Account,
mail your payment to the address shown on the payment coupon on your billing statement, and
write your Account number on your check or negotiable instrument and include the payment coupon.
Charges & Financial Obligations · Company practice
A compliant payment is credited the day received; non-compliant payments can be delayed and cost fees and interest
If your payment meets the stated requirements, it is credited to your Account as of the day American Express receives it, as long as it arrives by the time and in the manner shown on your billing statement; if it arrives after that time, it is credited the day after receipt. If a payment does not meet the requirements, crediting may be delayed, which may result in late payment fees and additional interest charges.
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Supporting quotations
If your payment meets the above requirements, we will credit it to your Account as of the day we receive it, as long as we receive it by the time and in the manner disclosed in your billing statement. If we receive it after that time, we will credit the payment on the day after we receive it.
If your payment does not meet the above requirements, there may be a delay in crediting your Account. This may result in late payment fees and additional interest charges.
Not stated here
The cut-off time and manner are set on the billing statement, not in this agreement.
Charges & Financial Obligations · Restriction or exception
Foreign-currency and non-U.S.-bank payments are refused, and accepting a late or partial payment waives nothing
American Express will not accept a payment made in a foreign currency or drawn on an account at a bank located outside the U.S. If it processes a late payment, a partial payment, or a payment marked with any restrictive language, that has no effect on its rights and does not change the Agreement.
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Supporting quotations
We will not accept a payment made in a foreign currency or a payment drawn on an account at a bank located outside of the U.S. If we process a late payment, a partial payment, or a payment marked with any restrictive language, that will have no effect on our rights and will not change this Agreement.