American Express Cash Magnet® Card Agreement

Charges & Financial Obligations · Company practice

Purchase and balance transfer APRs are variable: Prime Rate plus 12.74% to Prime Rate plus 21.74%

The Rates and Fees Table lists the same variable APR range for purchases and for balance transfers: the Prime Rate plus 12.74% to the Prime Rate plus 21.74%. The balance transfer rate applies 'for any balance transfer requests we may accept', so a balance transfer is only offered if the issuer accepts the request. Both are variable APRs; see the variable-rate explanation. Interest on a balance transfer starts on the transaction date.

Supporting quotations

Annual Percentage Rate (APR) for Purchases | Prime Rate + 12.74% to Prime Rate + 21.74% This is a variable APR.

APR For Balance Transfers | Prime Rate + 12.74% to Prime Rate + 21.74% for any balance transfer requests we may accept. This is a variable APR.

We will begin charging interest on cash advances and balance transfers on the transaction date.

Qualifications & exceptions

• Balance transfers apply only to requests the issuer accepts.
• The rate is a range; the table gives no figure for any one Account.

Not stated here

• This part does not say how the margin within the 12.74% to 21.74% range is chosen for an Account.
• No dollar or percentage Daily Periodic Rate (DPR) is shown here; the published agreement lists none (see the interest-calculation cards).

Charges & Financial Obligations · Company practice

Cash advance APR is variable at Prime Rate plus 21.99%, with interest from the transaction date

Cash advances carry a single variable APR of the Prime Rate plus 21.99%. Interest on cash advances (and on balance transfers) begins on the transaction date rather than after a grace period. A cash advance includes cash equivalents such as foreign currency, money orders, digital currency, casino gaming chips and betting transactions, so those are charged at this rate as well.

Supporting quotations

APR for Cash Advances | Prime Rate + 21.99% This is a variable APR.

We will begin charging interest on cash advances and balance transfers on the transaction date.

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

• The definition of a cash advance sits in the Definitions paragraph of Part 2, not in the rates table.

Charges & Financial Obligations · Company practice

Variable APRs follow the Wall Street Journal Prime Rate on the Closing Date and cannot exceed 29.99%

If the Prime Rate increases, variable APRs (and their corresponding DPRs) increase, so you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting change to variable APRs takes effect as of the first day of the billing period in which the Prime Rate changed. Variable APRs will not exceed 29.99%. The 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, which is the last day of that billing period as shown on the statement. If it was not published that day, the previous day it was published is used; if the Journal stops publishing it, the issuer may use the rate published in another newspaper of general circulation.

Supporting quotations

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%.

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.

The Closing Date appears on each billing statement and is the last day of the billing period covered by the billing statement.

Qualifications & exceptions

• The 29.99% ceiling is stated for 'variable APRs'; every APR in the table, including the Penalty APR, is described as a variable APR.
• The text spells out what happens when the Prime Rate increases; for any change it says the resulting APR change takes effect on the first day of that billing period.

Not stated here

• The text mentions corresponding DPRs but this part lists no DPR values.

Charges & Financial Obligations · Permission or license

A Penalty APR of Prime Rate plus 26.74% can apply to new transactions after a missed or returned payment

The issuer has the right to apply a variable Penalty APR of the Prime Rate plus 26.74% to new Transactions if you do not pay at least the Minimum Payment Due by the Payment Due Date, or your payment is returned by your bank. If it is applied, it lasts at least 6 months. The issuer reviews the Account every 6 months after applying it, and it continues until you have made timely payments with no returned payments during the 6 months being reviewed.

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 if: • you do not pay at least the Minimum Payment Due by the Payment Due Date; or • your payment is returned by your bank and we will notify you if we do.

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 source says the right is to apply it to 'new Transactions'; this part does not say what happens to existing balances.
• Applying it is the issuer's right ('We have the right'), not stated as automatic.

Not stated here

• The words 'we will notify you if we do' follow the returned-payment trigger and could refer either to notice of the returned payment or notice of applying the Penalty APR; the source does not say which.
• 'Transactions' is not defined in this part.

Charges & Financial Obligations · User right or choice

Purchases accrue no interest when the entire balance is paid by the due date

The due date is at least 25 days after each billing period closes. The issuer will not charge interest on purchases if you pay your entire balance each month by the due date (or, if you have a plan outstanding, your balance adjusted for plans). The table's conditions are expressed for purchases only; cash advances and balance transfers are charged interest from the transaction date. Part 1's Grace Period section gives further detail.

Supporting quotations

Your Due Date is at least 25 days after the close of each billing period. We will not charge you interest on purchases if you pay each month your entire balance (or, if you have a plan outstanding, your balance adjusted for plans) by the due date.

Qualifications & exceptions

• Applies to purchases only.

Charges & Financial Obligations · Context

Interest uses the average daily balance method, explained in Part 2

The rates table says interest is figured with the average daily balance method (including new purchases) and points to the 'How we calculate interest' section in Part 2 for the details.

Supporting quotations

How we calculate interest: We use a method called average daily balance method (including new purchases). See the How we calculate interest section in Part 2.

Charges & Financial Obligations · Company practice

Plan It charges a monthly plan fee of up to 1.33%, a fixed finance charge in place of the purchase APR

A plan fee is a monthly fee of up to 1.33% of each purchase or amount placed into a plan. It depends on the plan duration, the APR that would otherwise apply to the purchase, and other factors, and is a fixed finance charge charged each month the plan is active. The dollar amount is disclosed before you set up a plan. Amounts in a plan are subject to the plan fee instead of the APR for purchases. The table points to the 'About Plan It Feature' passage in Part 2.

Supporting quotations

Plan Fee (Fixed Finance Charge) | A monthly fee of up to 1.33% of each purchase or amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.

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.

When you set up a plan, the purchases or amount will be added to a plan balance and will be subject to a plan fee instead of the APR for purchases.

Qualifications & exceptions

• The figure is a ceiling ('up to 1.33%'); the actual percentage is set per plan.

Not stated here

• The specific fee for any plan is not in the agreement; it is disclosed when the plan is set up.

Charges & Financial Obligations · Company practice

There is no annual fee, including for additional cards

The Rates and Fees Table shows an Annual Fee of 'None', and the fee explanation says the Annual Fee for Additional Cards is 'None'.

Supporting quotations

Annual Fee | None

Annual Fee: This fee is on the Rates and Fees Table on page 1 of Part 1.

Annual Fee for Additional Cards: None.

Qualifications & exceptions

• Later parts of the agreement discuss annual-fee refunds only for cases where an Annual Fee applies.

Charges & Financial Obligations · Company practice

Fees are added to the purchase balance, except balance transfer and cash advance fees

As a general rule, fees are added to the purchase balance unless the issuer says otherwise. The balance transfer fee is added to the same balance as the balance transfer, and the cash advance fee is added to the Cash Advance balance, so each is charged interest at that balance's rate.

Supporting quotations

We add fees to a purchase balance, unless we tell you otherwise.

We will add it to the same balance as the balance transfer.

We will add this fee to the Cash Advance balance.

Qualifications & exceptions

• The Plan Fee is described as a fixed finance charge and the source does not say which balance it is added to.

Charges & Financial Obligations · Company practice

Balance transfer fee: the greater of $5 or 3% of the amount, unless a promotional offer says otherwise

The fee for each balance transfer is 3% of the transfer with a minimum of $5 (the table says either $5 or 3%, whichever is greater). A different fee may apply if stated in a promotional offer or at the time of a transaction. The fee is a finance charge. A balance transfer is a charge to pay an amount you owe on another credit card account.

Supporting quotations

Transaction Fees • Balance Transfer • Cash Advance • Foreign Transaction | Either $5 or 3% of the amount of each transfer, whichever is greater.

Balance Transfer: 3% of the transaction, with a minimum of $5. A different fee may apply if stated in a promotional offer or at the time of a transaction. This fee is a finance charge.

A balance transfer is a charge to pay an amount you owe on another credit card account.

Qualifications & exceptions

• The table's fee names (Balance Transfer, Cash Advance, Foreign Transaction) and its values are in one flattened cell; values are read in the same order as the names.

Charges & Financial Obligations · Company practice

Cash advance fee: the greater of $10 or 5%, calculated including any ATM operator's fee

The fee for each cash advance is 5% of the cash advance transaction (including fees charged by the ATM operator, if any), with a minimum of $10 (the table says either $10 or 5%, whichever is greater). The fee is added to the Cash Advance balance, which is charged interest from the transaction date at the cash advance APR.

Supporting quotations

Either $10 or 5% of the amount of each cash advance, whichever is greater.

Cash Advance: 5% of the cash advance transaction (including fees charged by the ATM operator, if any), with a minimum of $10. We will add this fee to the Cash Advance balance.

Qualifications & exceptions

• What counts as a cash advance is defined in Part 2 and includes cash equivalents and betting transactions.

Charges & Financial Obligations · Company practice

Foreign transaction fee: 2.7% of the converted U.S. dollar amount of each transaction

A foreign transaction fee of 2.7% applies to each transaction after conversion to U.S. dollars. The rates section points to the 'Converting charges made in a foreign currency' passage for how conversion works.

Supporting quotations

2.7% of each transaction after conversion to US dollars.

Foreign Transaction: 2.7% of the converted U.S. dollar amount. See Converting charges made in a foreign currency in Part 2.

Qualifications & exceptions

• The passage titled 'Converting charges made in a foreign currency' appears in Part 3 of the saved text, not Part 2 as the cross-reference says.

Charges & Financial Obligations · Company practice

Penalty fees: late and returned payments up to $40 each, and no overlimit fee

The Penalty Fees row lists three fees: Late Payment up to $40, Returned Payment up to $40, and Overlimit None. The detailed late and returned payment rules are in the fee explanations.

Supporting quotations

Penalty Fees • Late Payment • Returned Payment • Overlimit | Up to $40. Up to $40. None

Qualifications & exceptions

• The row's fee names and values are in one flattened cell; values are matched to names in order.

Charges & Financial Obligations · Company practice

Late payment fee is $29 the first time and $40 if repeated within 6 billing periods

If the Minimum Payment Due is not received by its Payment Due Date, the late fee is $29. If it happens again within the next 6 billing periods, the fee is $40. A late fee on a billing statement will not exceed the Minimum Payment Due on your prior billing statement. The table summarises this as 'up to $40'.

Supporting quotations

Late Payment: Up to $40. If we do not receive the Minimum Payment Due by its 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 Minimum Payment Due on your prior billing statement.

Charges & Financial Obligations · Company practice

Returned payment fee is $29 the first time and $40 if repeated, capped at the prior minimum payment due

If a payment you make is returned unpaid the first time it is presented to your bank, the fee is $29. If it happens 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 applicable Minimum Payment Due on your prior billing statement. The Rates and Fees Table summarises it as 'up to $40'.

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 applicable Minimum Payment Due on your prior billing statement.

Qualifications & exceptions

• A returned payment can also be a trigger for the Penalty APR (see the Penalty APR card).

Charges & Financial Obligations · Company practice

Returned check fee is $38, plus the unpaid amount, for checks cashed with the Card at approved locations

If you use your Card to cash a check at one of the issuer's approved locations and the check is returned unpaid, the fee is $38 and the issuer will also charge you the unpaid amount.

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.

Not stated here

• The source does not list the approved locations.

Charges & Financial Obligations · Company practice

Account re-opening fee is $25 after a cancelled account is re-opened at your request

If your Account is cancelled, you ask the issuer to re-open it, and it does so, the fee is $25.

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 repeats this as a fee the issuer 'may charge' if it re-opens a cancelled account at your request.

Charges & Financial Obligations · Company practice

No overlimit fee, but the issuer may ask you to promptly repay the amount over your credit limit

The overlimit fee is None. The issuer may approve charges that put the Account balance over the Credit Limit; if it does, it will not charge an overlimit fee. If it asks you to promptly pay the amount over the Credit Limit, you agree to do so. Going over the limit can still raise the Minimum Payment Due (see the Minimum Payment Due card).

Supporting quotations

Overlimit: None. See Credit Limit and Cash Advance Limit in Part 1.

We may approve charges that cause your Account balance to go over your Credit Limit. If we do this, we will not charge an overlimit fee. If we ask you to promptly pay the amount of your Account balance above your Credit Limit, you agree to do so.

Qualifications & exceptions

• The issuer may also decline charges, including when they would not cause you to go over your Credit Limit.

Charges & Financial Obligations · Restriction or exception

Person-to-person transactions are capped at $2,000 per 30 days and may be declined

Person-to-person transactions (funds sent to another person, or funds added to an Amex Send account) count as purchases under the agreement's definition. They may not exceed $2,000 within any 30-day period, and you agree to manage your Account to stay within that Person-to-Person Limit. The issuer may not approve a person-to-person transaction that would exceed the applicable limit or your Credit Limit.

Supporting quotations

Person-to-Person Limit: Your person-to-person transactions may not exceed $2,000 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 do 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 transaction limit or your Credit Limit.

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

Qualifications & exceptions

• The rewards supplement excludes person-to-person transactions from eligible purchases (see the rewards cards).

Charges & Financial Obligations · Company practice

Minimum Payment Due: highest of three formulas plus fees, plan payments and past-due amounts, capped at New Balance

Each statement's Minimum Payment Due starts with the highest of: (1) the interest charged on the statement plus 1% of the New Balance (excluding any interest, penalty fees, overlimit amount and plan balances); (2) 2% of the New Balance (excluding any penalty fees, overlimit amount and plan balances); or (3) $40. The issuer then adds any penalty fees shown on the statement, up to 1/24th of any overlimit amount, any plan payment due and any amount past due. The Minimum Payment Due will not exceed the New Balance, and you may pay more than the minimum, up to the New Balance, at any time.

Supporting quotations

To calculate the Minimum Payment Due for each billing statement, we start with the highest of:

Interest charged on the billing statement plus 1% of the New Balance (excluding any interest, penalty fees, overlimit amount, and plan balances); or

2% of the New Balance (excluding any penalty fees, overlimit amount, and plan balances); or

$40.

Then we add any penalty fees shown on the billing statement, up to 1/24th of any overlimit amount, any plan payment due, and any amount past due.

Your Minimum Payment Due will not exceed your New Balance. You may pay more than the Minimum Payment Due, up to your New Balance, at any time.

Qualifications & exceptions

• Penalty fees, plan payments, past-due amounts and part of any overlimit amount are added on top of the highest formula result, so the Minimum Payment Due can be higher than the formula figure.

Not stated here

• 'New Balance' is not defined in this section.

Charges & Financial Obligations · Context

Worked example: a $2,900 New Balance with $29.57 interest gives a $58.27 Minimum Payment Due

The agreement's example assumes a New Balance of $2,900, interest of $29.57, and no active plans, overlimit amount, penalty fees or past-due amounts. The three formulas give $58.27 ($29.57 plus 1% of $2,900 minus $29.57), $58 (2% of $2,900) and $40. The highest is $58.27. If the account has any active plans, overlimit amount, penalty fees or past-due amounts, the Minimum Payment Due will be higher.

Details not recorded for this card

Supporting quotations

EXAMPLE: Assume that your New Balance is $2,900, interest is $29.57, and you have no active plans, overlimit amount, penalty fees, or amounts past due.

$29.57 plus 1% multiplied by ($2,900 minus $29.57) equals $58.27

$58 (2% of $2,900)

$40

The highest of 1., 2., or 3. is $58.27. If your account has any active plans, overlimit amount, penalty fees, or amounts past due, your Minimum Payment Due will be higher.

Qualifications & exceptions

• The example is illustrative and uses assumed figures.

Charges & Financial Obligations · User right or choice

Purchases carry no interest in an Interest Free Period; balance transfers and cash advances never get one

You are not charged interest on purchases while in an Interest Free Period. The account enters one when you pay the New Balance shown on your statement by the Payment Due Date, or when the account had no previous balance. When it is not in an Interest Free Period, interest on purchases is charged from the transaction date. Balance transfers and cash advances are charged interest from the transaction date and have no Interest Free Period. The section points to the 'How we calculate interest' section for how interest is figured.

Supporting quotations

You are not charged interest on purchases when you are in an Interest Free Period.

Your account enters an Interest Free Period when you pay your New Balance as shown on your statement by the Payment Due Date or your account had no previous balance.

When your account is not in an Interest Free Period, we charge interest on purchases from the date of the transaction.

Balance Transfers and Cash Advances will be charged interest from the date of the transaction and do not have an Interest Free Period.

For more details about how we calculate your interest charges, see the How we calculate interest section of this agreement.

Qualifications & exceptions

• The Rates and Fees Table phrases the purchase condition as paying your entire balance (or the balance adjusted for plans) by the due date.

Charges & Financial Obligations · Company practice

After you regain an Interest Free Period, interest from earlier in that cycle may still appear on the next statement

After your account re-enters an Interest Free Period, interest may appear on your next billing statement. That interest reflects interest charged from the beginning of that billing cycle through the date your payment was received.

Supporting quotations

After you enter an Interest Free Period again, interest may appear on your next billing statement. This reflects interest charged from the beginning of that billing cycle through the date the payment was received.

Charges & Financial Obligations · User right or choice

With an active Plan It plan, paying the balance adjusted for plans by the due date restores the Interest Free Period

If you have an active plan created through Plan It, you can enter an Interest Free Period by paying at least the Balance Adjusted for Plans (also called the Adjusted Balance) by the Payment Due Date, rather than the full New Balance.

Supporting quotations

If you have an active plan created through Plan It, you can enter an Interest Free Period by paying at least the Balance Adjusted for Plans (or Adjusted Balance) by the Payment Due Date.

Charges & Financial Obligations · Company commitment

Earn 1.5% in reward dollars on eligible purchases for personal, family or household use

You earn reward dollars at 1.5 percent of the dollar amount of eligible purchases in each billing period. Eligible purchases are purchases made on the Card for goods and services minus returns and other credits. They do not include fees or interest charges, balance transfers, cash advances, purchases of traveler's checks, purchases or reloading of prepaid cards, purchases of any cash equivalents (including gift cards), or person-to-person transactions. Rewards are given only for eligible purchases for personal, family or household use. The supplement points to americanexpress.com/rewards-info for more information about rewards.

Supporting quotations

You will earn a reward of 1.5 percent on your eligible purchases. Eligible purchases are purchases made on your Card for goods and services minus returns and other credits. Eligible purchases do NOT include: fees or interest charges, balance transfers, cash advances, purchases of traveler's checks, purchases or reloading of prepaid cards, purchases of any cash equivalents, including gift cards, or person-to-person transactions.

You will only receive rewards for eligible purchases for personal, family or household use.

Please visit americanexpress.com/rewards-info for more information about rewards.

A purchase is a charge for goods, services, or person-to-person transactions.

Qualifications & exceptions

• The agreement's general definition of a purchase includes person-to-person transactions, but this supplement expressly excludes them from eligible purchases.
• The earning terms are conditioned on paying the Minimum Payment Due on time (see the next card).

Not stated here

• The americanexpress.com/rewards-info page is not part of the supplied text, so any terms there are unknown.

Charges & Financial Obligations · Restriction or exception

No reward dollars for a billing period if the Minimum Payment Due is not paid by its due date

You do not earn reward dollars on eligible purchases posted during a billing period if the Minimum Payment Due shown on that period's statement is not paid by the Payment Due Date shown on that statement.

Supporting quotations

You will not earn reward dollars for eligible purchases posted to your Card Account during a billing period if the Minimum Payment Due shown on the statement for that billing period is not paid by the Payment Due Date shown on that statement.

Charges & Financial Obligations · Company practice

Credits reduce reward dollars, and the Reward Dollars Summary on a statement is only informational

Credits for eligible purchases reduce the reward dollars you earn. The Reward Dollars Summary on the billing statement is only for information and does not show the reward dollars you may actually be entitled to receive; a credit can lower the figure shown, and if credits put eligible purchases in a negative status the summary shows a negative balance until new eligible purchases exceed the negative amount.

Supporting quotations

Credits for eligible purchases will reduce the number of reward dollars you earn.

The reward dollars shown on your billing statement under the heading Reward Dollars Summary is only for informational purposes. It does not show the actual reward dollars that you may be entitled to receive.

Charges & Financial Obligations · User right or choice

Redeem reward dollars for statement credits at $1 each, with no minimum, but not as cash

Reward dollars can be redeemed for statement credits with no minimum amount. The credit appears on the Card Account within 3 days and applies to the billing period in which it appears. Each reward dollar redeems for a $1 statement credit, and partial reward dollars receive an equivalent credit (for example, 32.11 reward dollars give a $32.11 credit). Redeemed reward dollars cannot be used to pay the Minimum Payment Due. The issuer may at its option offer other ways to redeem, such as gift cards or merchandise. Reward dollars are redeemable for rewards as described, and are not cash.

Supporting quotations

You can redeem reward dollars for statement credits with no minimum redemption amount. The statement credit will appear on your Card Account within 3 days and will apply to the billing period in which it appears. Reward dollars redeemed for a statement credit cannot be used to pay your Minimum Payment Due. Redemption will be in the form of a statement credit of $1 for every reward dollar redeemed.

From time to time we may, at our option, offer you other ways to redeem reward dollars, such as for gift cards or merchandise.

Reward dollars are redeemable for rewards as described above, they are not cash.

Qualifications & exceptions

• Other redemption options are at the issuer's option and not guaranteed.

Charges & Financial Obligations · Restriction or exception

Reward dollars cannot be redeemed if the account is cancelled or past due, with New York exceptions

You cannot redeem reward dollars if your Card Account is cancelled or past due. New York Card Members (those whose Card Account has a New York billing address) can redeem while the account is past due, but must call the number on the back of the Card; they cannot redeem in the online Account or mobile application in that case.

Supporting quotations

You cannot redeem reward dollars if your Card Account is cancelled or past due.

New York Card Members can also redeem reward dollars while their Card Account is past due. You must call the number on the back of your Card to redeem after notification of account cancellation or while your account is past due. You will not be able to redeem in your online Account or mobile application. You are a New York Card Member if your Card Account has a New York billing address.

Qualifications & exceptions

• For cancelled accounts, see the forfeiture card for the New York 90-day redemption period.

Charges & Financial Obligations · Restriction or exception

Cancelling the account for any reason forfeits all reward dollars, but New York Card Members get 90 days to redeem

You forfeit your entire reward dollar balance if your Card Account is cancelled for any reason. New York Card Members receive 90 days from notification of the cancellation to redeem reward dollars, and must call the number on the back of the Card to redeem after notification of cancellation. A New York Card Member is one whose Card Account has a New York billing address.

Supporting quotations

You will forfeit your entire reward dollar balance if your Card Account is cancelled for any reason.

New York Card Members receive 90 days to redeem reward dollars from notification of the cancellation of your Card Account. You are a New York Card Member if your Card Account has a New York billing address.

New York Card Members receive 90 days to redeem reward dollars from notification of the cancellation of your Card Account.

Qualifications & exceptions

• The general forfeiture statement does not itself mention the New York 90-day period; that comes from the New York-only paragraphs.

Not stated here

• The text does not say how the issuer notifies a Card Member of cancellation.

Charges & Financial Obligations · Permission or license

The issuer may change the reward program at its discretion, and abuse can forfeit accrued reward dollars

The issuer may change the terms of the reward program at its discretion. If you violate or abuse the program, you may forfeit some or all of your accrued reward dollars. The supplement is part of the Agreement, which the issuer may change subject to applicable law.

Supporting quotations

We may change the terms of this program at our discretion. If you violate or abuse this program, you may forfeit some or all of your accrued reward dollars.

We may change this Agreement, subject to applicable law.

Any supplements or amendments are also part of the Agreement.

Not stated here

• The text does not define 'violate or abuse' the program or say how notice of changes is given in this supplement.

Charges & Financial Obligations · Context

A cash advance covers cash equivalents such as foreign currency, digital currency, casino chips and betting

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. Cash advance rates, fees and balance rules apply to these charges, and they have no Interest Free Period.

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

• The cash advance rate, fee and interest rules are in Part 1; this card only records what the definition covers.

Charges & Financial Obligations · Context

A payment counts as made 'by' a date only if it is received and credited by that date

'To pay by a certain date' means to send the payment so that the issuer receives it and credits it to the Account by that date. The Closing Date, shown on each billing statement, is the last day of the billing period the statement covers.

Supporting quotations

To pay by a certain date means to send your payment so that we receive it and credit it to your Account by that date. The Closing Date appears on each billing statement and is the last day of the billing period covered by the billing statement.

Qualifications & exceptions

• Part 2's payment section sets the cut-off time and crediting rules for payments; this card records only the definition.

Charges & Financial Obligations · Company practice

Plan It may be offered to spread qualifying purchases over set monthly payments for a plan fee

The issuer may offer Plan It, which lets you create a payment plan for qualifying purchases or a qualifying amount, subject to a plan fee that is a fixed finance charge charged each month a plan is active. You select the qualifying purchases or amount and a plan duration and can see the monthly plan payments, including the plan fee, before creating the plan. Each plan fee is disclosed before you create the plan and is based on the plan duration, the APR that would otherwise apply to the purchase amount, and other factors. Amounts placed in a plan go into a plan balance and bear the plan fee instead of the APR for purchases.

Supporting quotations

About Plan It: We may offer you Plan It, which allows you to create a payment plan for qualifying purchases or a qualifying amount, subject to a plan fee. This fee is a fixed finance charge that will be charged each month that a plan is active.

You may use this feature by selecting qualifying purchases or a qualifying amount 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 and will be based on the plan duration, the APR that would otherwise apply to the purchase amount(s), and other factors. When you set up a plan, the purchases or amount will be added to a plan balance and will be subject to a plan fee instead of the APR for purchases.

Qualifications & exceptions

• Plan availability, durations and eligibility depend on factors the issuer sets (see the plan eligibility card).

Charges & Financial Obligations · Restriction or exception

Plan It covers purchases above a set amount, but not cash, balance transfers, foreign-fee purchases or fees

A qualifying purchase for Plan It is a purchase of at least a specified dollar amount. A qualifying amount is a specified portion of your balance. Qualifying purchases (or a qualifying amount, if you have a Card with a Credit Limit) do not include purchases of cash or cash equivalents, balance transfers (if offered), purchases subject to Foreign Transaction Fees, or any fee owed to the issuer, such as Annual Fees.

Supporting quotations

A qualifying purchase for Plan It is a purchase of at least a specified dollar amount. A qualifying amount for Plan It is a specified portion of your balance. Qualifying purchases (or a qualifying amount, if you have a Card with a Credit Limit) do not include purchases of cash or cash equivalents, balance transfers (if offered), purchases subject to Foreign Transaction Fees, or any fee owed to us, such as Annual Fees.

Not stated here

• The specified dollar amount and portion of balance are not stated in the agreement.

Charges & Financial Obligations · Restriction or exception

Plan creation depends on creditworthiness and account status, and the issuer sets plan counts and durations

Your ability to create plans depends on factors such as your creditworthiness and Credit Limit. You cannot create plans if 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. The issuer tells you how many active plans you may have and may change that number at any time. Plan durations offered, and whether several qualifying purchases or amounts can be combined in one plan, are at the issuer's discretion. You agree to manage the Account so that total plan balances (including plan fees) are not more than the Credit Limit.

Supporting quotations

Your ability to create plans will be based on a variety of factors such as your creditworthiness and your Credit Limit. You will not be able to create plans if 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, or 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 or a qualifying amount 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. You agree to manage your Account so that the total of your plan balances (including plan fees) is not more than your Credit Limit.

Qualifications & exceptions

• The account-status conditions refer to any of your American Express accounts, not only this Card Account.

Not stated here

• The number of active plans allowed and the durations offered are not stated in the agreement.

Charges & Financial Obligations · User right or choice

Plans cannot be cancelled once created, but paying the New Balance in full ends future plan fees

A plan cannot be cancelled after it is created. You can pay a plan early by paying the New Balance shown on your most recent billing statement in full, and if you pay a plan off early you will not incur future plan fees on that plan.

Supporting quotations

Plans cannot be cancelled after they have been created but you can choose to pay them early by paying the 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

You promise to pay all charges, including Additional Card Members', and at least the Minimum Payment Due by its due date

You promise to pay all charges added to the Account, including charges made or permitted by you or your Additional Card Members, even if the Card is not presented or signed for. You must pay at least the Minimum Payment Due on or before the Payment Due Date, in the time and manner shown on each statement. Paying 'by' a date means the issuer receives it and credits it to the Account by that date. You are responsible for all use of the Account by Additional Card Members and anyone they allow to use it.

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 at least the Minimum Payment Due on or before the Payment Due Date in the time and manner shown on each billing statement.

To pay by a certain date means to send your payment so that we receive it and credit it to your Account by that date.

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.

Charges & Financial Obligations · Procedure

Pay in U.S. dollars by single check, negotiable instrument or electronic payment; mailed payments need coupon details

Payments must be made in U.S. dollars by a single check drawn on a U.S. bank, 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 paying by mail, make a separate payment for each Account, mail it to the address on the payment coupon on the statement, and write the Account number on the check or negotiable instrument and include the payment coupon.

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

Payments that meet the requirements are credited the day received; others may be delayed, causing late fees and interest

If a payment meets the requirements, the issuer credits it to the Account as of the day it is received, as long as it is received by the time and in the manner disclosed in the statement; if it arrives after that time, it is credited the day after. If a payment does not meet the requirements, crediting may be delayed, which may result in late payment fees and additional interest charges.

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 (see the How Rates and Fees Work in Part 1).

Not stated here

• The cut-off time for same-day crediting is on the billing statement and is not stated in the agreement.

Charges & Financial Obligations · Restriction or exception

Foreign-currency and non-U.S. bank payments are refused; taking a late or partial payment waives no rights

The issuer will not accept a payment made in a foreign currency or drawn on an account at a bank 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.

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.

Charges & Financial Obligations · Company practice

Payments cover the plan amounts and lowest-rate balance first up to the minimum, then the highest-rate balance

Where the Account has balances at different interest rates, plan balances or plan fees, payments are generally applied as follows. Up to the Minimum Payment Due, payment goes first to any plan amounts included in the Minimum Payment Due, then to the balance subject to the lowest interest rate, then to balances subject to higher rates. After the Minimum Payment Due is paid, payment goes to the balance subject to the highest interest rate, then to lower-rate balances, and then to any plan balances.

Supporting quotations

How we apply payments and credits: Your Account may have balances with different interest rates. For example, purchases may have 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 any Plan amounts included in your Minimum Payment Due, then to the balance subject to the lowest interest rate, and then to balances subject to higher interest rates.

After the Minimum Payment Due has been paid, we apply your payments to the balance subject to the highest interest rate, then to balances subject to lower interest rates, and then to any Plan balances.

Qualifications & exceptions

• The source says this is how payments are 'generally' applied.

Charges & Financial Obligations · Company practice

Credits usually go to the balance of the related charge; the issuer picks the order within balances of equal rate

In most cases a credit is applied to the same balance as the related charge, for example a purchase credit to the purchase balance. The issuer may apply payments and credits within balances, and among balances with the same interest rate, in any order it chooses. A negative balance at the end of a billing period is redistributed to other balances under the payment rules, which in some cases means plan balances get paid before they otherwise would. If you receive a credit for a purchase placed into a plan, you must call the number on the back of your Card to have the credit applied to the plan balance.

Supporting quotations

In most cases, we apply a credit to the same balance as the related charge. For example, we apply a credit for a purchase to the purchase balance. 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 placed into 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 figured separately on each balance by the average daily balance method, including new transactions

The issuer figures interest for a billing period on each balance separately; different categories of transactions, such as purchases and cash advances, and balances within a category may have different interest rates. It uses the Average Daily Balance method (including new transactions) for each balance, and the total interest for the billing period is the sum of the interest on each balance. The average daily balance for a balance is the sum of its daily balances divided by the number of days in the billing period.

Supporting quotations

We calculate interest for a billing period by first figuring the interest on each balance. Different categories of transactions--such as purchases and cash advances--may have different interest rates. Balances within each category may also 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.

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.

Charges & Financial Obligations · Company practice

Interest on a balance is its average daily balance times its daily periodic rate times the days in the period

Apart from rounding, the interest on a balance in a billing period equals its Average Daily Balance multiplied by its Daily Periodic Rate (DPR) multiplied by the number of days in the billing period. A DPR 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'; see the DPR card for what the published agreement shows.

Supporting quotations

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.

DPR: A DPR is 1/365th of an APR, rounded to one ten-thousandth of a percentage point.

Charges & Financial Obligations · Context

A DPR is 1/365th of an APR; the agreement says Part 1 shows your DPRs, but its Part 1 lists no DPR values

The agreement defines a Daily Periodic Rate (DPR) as 1/365th of an APR, rounded to one ten-thousandth of a percentage point, and says 'Your DPRs are shown in How Rates and Fees Work in Part 1.' The published Card Member Agreement does not list any DPR: its How Rates and Fees Work section holds the Explanation of Variable Rates, Determining the Prime Rate and Fees, and the Rates and Fees Table gives APRs as the Prime Rate plus a margin (some as a range) with no DPR values. This analysis does not compute DPR values from the APRs or take them from another agreement or a Card Member's personal Part 1.

Supporting quotations

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.

If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase.

How Rates and Fees Work

Determining the Prime Rate: Prime Rate means the highest U.S. Prime Rate published in the rates section of The Wall Street Journal

Not stated here

• The DPR values for this Account are not in the published agreement; they may be shown in an individual Card Member's own Part 1, which is not supplied here.

Charges & Financial Obligations · Context

Worked example: a 15.99% rate, $2,250 average daily balance and 30 days gives $29.57 of interest

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, or 0.0438%, and the interest is $2,250 multiplied by 0.0438% multiplied by 30 days, which equals $29.57.

Supporting quotations

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 and the other figures are assumptions for illustration; they are not this Card's rates.

Charges & Financial Obligations · Company practice

The daily balance adds new charges on their transaction date, and interest compounds daily

The issuer figures each balance's daily balance by taking the beginning balance for the day, adding any new charges, subtracting any payments or credits and making any appropriate adjustments. A new charge is added as of its transaction date, and a negative daily balance is treated as zero. On the first day of a billing period the beginning balance is the prior period's ending balance, including unpaid interest. For the rest of the period it is the previous day's daily balance plus interest equal to that daily balance multiplied by the DPR for that balance, which the agreement says results in daily compounding of interest.

Supporting quotations

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. If the daily balance is negative, we treat it as zero. 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.

Not stated here

• 'Appropriate adjustments' is not defined.

Charges & Financial Obligations · Permission or license

The issuer may use other equivalent interest methods and may choose not to charge interest on certain charges

To figure the average daily balance and interest charges, the issuer may use other formulas or methods that produce equivalent results. It may also choose not to charge interest on certain types of charges.

Supporting quotations

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 source does not say which types of charges may be treated this way.

Charges & Financial Obligations · Restriction or exception

You agree to pay the issuer's reasonable collection costs, including attorneys' fees

You agree to pay all reasonable costs, including attorneys' fees, that the issuer incurs to collect amounts you owe.

Supporting quotations

Collection costs: You agree to pay all reasonable costs, including attorneys' fees, that we incur to collect amounts you owe.

Charges & Financial Obligations · Permission or license

Paying by check authorises a one-time electronic withdrawal, possibly the same day, and the check is not returned

When you pay by check, you authorise the issuer to use information from the 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 the check is received, and you will not receive the check back from your bank or financial institution. In certain circumstances the issuer may process the payment as a check transaction.

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.

Not stated here

• The source does not say which circumstances lead to processing as a check transaction.

Charges & Financial Obligations · Company practice

AEEML converts foreign-currency charges at a rate no higher than the highest official or interbank rate

If you make a charge in a foreign currency, AE Exposure Management Ltd. (AEEML) converts it into U.S. dollars on the date the issuer or its agents process it, and you are billed in U.S. dollars on that conversion. Unless a particular rate is required by law, AEEML chooses a rate acceptable to the issuer 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, and it may differ from rates in effect on the date of your charge. Charges converted by establishments (such as airlines) are billed at the rates they use. The 2.7% foreign transaction fee applies to the converted U.S. dollar amount.

Supporting quotations

Converting charges made in a foreign currency: If you make a charge in a foreign currency, AE Exposure Management Ltd.

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 Part 1 foreign transaction fee (2.7% of the converted amount) is carded separately.

Not stated here

• The conversion date can differ from the date of your charge, so the rate applied is not fixed at the time you make the charge.

Charges & Financial Obligations · Context

Oregon residents: service charges are limited to what the law permits, and you may pay more than the minimum at any time

The notice to Oregon residents states that service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month, and that you may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.

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.

Not stated here

• The source does not say how an Oregon resident is identified, for example by billing address.

Charges & Financial Obligations · User right or choice

Washington residents: no interest owed that results solely from a delay in posting a return credit

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 payment of interest charges that result solely from a merchant's failure to transmit to the issuer within seven working days a credit for goods or services accepted for return or forgiven, if you have notified the issuer of the merchant's delay in posting the credit, or from the issuer's failure to post the credit to your Account within three working days of receiving it.

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

• Applies to interest charges that result 'solely' from the stated delays.

Not stated here

• The sentence does not make clear whether the condition 'if you have notified us of the merchant's delay' also applies to the issuer's own failure to post the credit within three working days; the source's wording is quoted rather than resolved.
• The cited Washington statute is not supplied here, so its text is not relied on.
• The source does not say how a Washington resident is identified.