59 of 106 cards in Charges & Financial Obligations
Charges & Financial Obligations · Company practice
Pay Over Time APR is Prime Rate + 12.74% to + 21.74%; cash advance APR is Prime Rate + 21.99%
The Rates and Fees Table gives the Annual Percentage Rate for Pay Over Time as the Prime Rate plus 12.74% up to the Prime Rate plus 21.74%, and the APR for cash advances as the Prime Rate plus 21.99%. Both are labeled variable APRs, so the actual percentage moves with the Prime Rate; the table sends the reader to the Explanation of Variable Rates in How Rates and Fees Work for how that happens. The table does not state which margin inside the Pay Over Time range applies to a particular account.
Details not recorded for this card
Supporting quotations
Prime Rate + 12.74% to Prime Rate + 21.74%
This is a variable APR. See Explanation of Variable Rates below.
Prime Rate + 21.99%
This is a variable APR. See Explanation of Variable Rates below.
Qualifications & exceptions
Both rates are variable APRs.
Pay Over Time is a range; cash advances have a single stated margin.
Not stated here
The table does not say which margin within the Pay Over Time range applies to a given Card Member, or what factors decide it.
This table gives APRs only as a margin over the Prime Rate; it shows no Daily Periodic Rate (DPR) values.
Cross-references
qualified by (model-proposed): Variable APRs rise with the Prime Rate and will not exceed 29.99% — The Rates and Fees Table labels the Pay Over Time and cash advance APRs variable and points to the Explanation of Variable Rates, which says how Prime Rate changes flow through and states the 29.99% ceiling.
Charges & Financial Obligations · Restriction or exception
Penalty APR of Prime Rate + 26.74% can apply to new Pay Over Time transactions after a missed or returned payment
The penalty APR is a variable rate of the Prime Rate plus 26.74%. American Express has the right to apply it 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 if your payment is returned by your bank (and American Express says it will notify you if that happens). Once applied it lasts at least 6 months; the Account is reviewed every 6 months after that, and the penalty APR continues until you have made timely payments with no returned payments during the 6 months being reviewed.
Details not recorded for this card
Supporting quotations
Prime Rate + 26.74%
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.
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
Applies to new transactions in a Pay Over Time balance, not to every balance.
"We have the right to apply" is a right, not an automatic result.
Not stated here
The table does not say how much notice, if any, is given when the penalty APR is applied other than for a returned payment.
Charges & Financial Obligations · Company practice
Pay Over Time charges avoid interest only if paid in full; cash advances accrue interest from the transaction date
The Rates and Fees Table says the Payment Due Date is at least 25 calendar days after the close of each billing period, and that American Express will not charge interest on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance (or, with a Plan balance, your Adjusted Balance) by the Payment Due Date. The detailed grace-period text later in Part 1 phrases the condition differently: no interest on those charges in a billing period if your Pay Over Time Previous Balance for the period is zero, or if you paid the Account Total New Balance (or Adjusted Balance with an active plan) in full by the Payment Due Date for each of the previous two billing periods. 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)
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.
Qualifications & exceptions
The table summary says "each month"; the detailed section uses a zero-previous-balance test or the previous two billing periods. Both wordings are quoted rather than reconciled.
Covers charges automatically added to a Pay Over Time balance, not cash advances.
Not stated here
The text does not explain how the table summary ("each month") and the detailed two-previous-billing-periods condition fit together beyond their wording.
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 fee depends on the APR that would otherwise apply to the purchase (for a Pay Over Time purchase), the APR for Pay Over Time when the plan is created (for a Pay In Full purchase), or the lower of the two APRs (for a purchase divided between the two balances), plus the plan duration and other factors. Part 2 adds that each plan fee is disclosed before a plan is created.
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Supporting quotations
A monthly plan fee of up to 1.33% of each purchase placed in a plan
the plan duration; and other factors.
Each plan fee will be disclosed before you create the applicable plan.
Qualifications & exceptions
"Up to 1.33%" is a ceiling; the table says the actual fee depends on APR, plan duration and other factors.
Charged monthly on each purchase placed in a plan.
Not stated here
The table does not list what the "other factors" are.
Charges & Financial Obligations · Company practice
Annual fee on the Platinum Card is $895
The Rates and Fees Table lists an Annual Fee of $895 for the Platinum Card. Annual fees for additional cards are covered separately in How Rates and Fees Work.
Details not recorded for this card
Supporting quotations
Annual Fee | $895
Charges & Financial Obligations · Company practice
Cash advance fee is the greater of $10 or 5%; no foreign transaction fee
The table lists a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is greater, and states that the foreign transaction fee is "None."
Details not recorded for this card
Supporting quotations
Cash Advance: Either $10 or 5% of the amount of each cash advance, whichever is greater.
Charges & Financial Obligations · Company practice
Late payment and returned payment fees are each up to $40
The table lists a Late Payment fee of up to $40 and a Returned Payment fee of up to $40. The table does not say when a lower amount applies; How Rates and Fees Work gives the amounts and conditions.
Details not recorded for this card
Supporting quotations
Late Payment: Up to $40. Returned Payment: Up to $40.
Qualifications & exceptions
Both are stated as "up to" amounts.
Not stated here
The table itself does not show the lower fee amount or how the amount is decided.
Charges & Financial Obligations · Company practice
Interest uses the average daily balance method including new purchases
The table states that interest is calculated with the average daily balance method (including new purchases) and points to the Part 2 section on how interest is calculated on Pay Over Time and Cash Advance balances.
Details not recorded for this card
Supporting quotations
We use a method called average daily balance method (including new purchases).
Charges & Financial Obligations · Company practice
Variable APRs rise with the Prime Rate and will not exceed 29.99%
If the Prime Rate increases, variable APRs (and the corresponding DPRs) will increase, so you may pay more interest and may have a higher Minimum Payment Due. A change in the Prime Rate changes the variable APRs as of the first day of the billing period during which the Prime Rate changed. The agreement states that variable APRs will not exceed 29.99%. This explanation is what the Rates and Fees Table points to for the Pay Over Time, cash advance and penalty APRs, each of which is labeled a variable APR.
Details not recorded for this card
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%.
This is a variable APR. See Explanation of Variable Rates below.
Qualifications & exceptions
The change takes effect from the first day of the billing period in which the Prime Rate changed, not from the day of the change.
The 29.99% ceiling is stated for "variable APRs"; the text does not separately discuss how it applies to the penalty APR (Prime Rate + 26.74%).
Not stated here
This section mentions DPRs but lists no DPR values; the published agreement does not show them (see the interest calculation card).
Prime Rate means the highest U.S. Prime Rate published in The Wall Street Journal on the Closing Date
For this agreement, the Prime Rate is 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 Journal does not publish the rate that day, American Express uses the rate from the previous day it was published. If the Journal stops being published or stops publishing the Prime Rate, American Express "may" use the Prime Rate published in another newspaper of general circulation.
Details not recorded for this card
Supporting quotations
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.
we may use the Prime Rate published in another newspaper of general circulation
Qualifications & exceptions
The replacement newspaper is at American Express's choice ("may"), and the text names no specific alternative.
Besides the Card's own Annual Fee (listed on the Rates and Fees Table), each Additional Platinum Card is $195 annually and each Companion Platinum Card is $0 annually. If an Annual Fee applies to an Additional Card, the refund policy is the one in the Closing or suspending your Account sub-section of Part 3.
Details not recorded for this card
Supporting quotations
Annual Fee: This fee is on the Rates and Fees Table on page 1 of Part 1.
Each Additional Platinum Card is $195 annually, and each Companion Platinum Card is $0 annually.
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.
Qualifications & exceptions
If a single Annual Fee applies to a group of Additional Cards, the refund policy applies when you cancel the Additional Card on which the fee was assessed.
Charges & Financial Obligations · Company practice
The plan fee is a fixed finance charge billed each month a plan is active, disclosed before you set up a plan
The plan fee is a fixed finance charge charged each month that a plan is active. Its dollar amount is disclosed before you set up a plan, and the Rates and Fees Table and the Plan It text in Part 2 give more detail.
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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.
Each plan fee will be disclosed before you create the applicable plan.
Charges & Financial Obligations · Company practice
Cash advance fee is 5% (including any ATM operator fee), minimum $10, added to the Cash Advance balance
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.
Details not recorded for this card
Supporting quotations
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 figured on the cash advance amount including any ATM operator fee.
Charges & Financial Obligations · Company practice
No foreign transaction fee, but American Express chooses the conversion rate for foreign-currency charges
The fee list says Foreign Transaction: None. Separately, Part 3 says that a charge in a foreign currency is converted into U.S. dollars by AE Exposure Management Ltd. (AEEML) on the date American Express or its agents process it. Unless law requires a particular rate, AEEML chooses a conversion rate acceptable to American Express; that 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. The rate may differ from the rate on the date of the charge.
Details not recorded for this card
Supporting quotations
Foreign Transaction: None.
AE Exposure Management Ltd. ("AEEML") will convert it into U.S. dollars on the date we or our agents process it
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.
Qualifications & exceptions
"None" refers to a foreign transaction fee; conversion still happens at a rate chosen by AEEML.
Charges converted by establishments such as airlines are billed at the rates those establishments use.
Not stated here
The text does not give the conversion rate or margin actually applied; it states only an upper bound.
Charges & Financial Obligations · Company practice
Late and returned payment fees are $29 the first time and $40 if repeated within 6 billing periods
A late payment fee is charged if American Express does not receive the Amount Due (or Minimum Payment Due, if applicable) by the Payment Due Date: $29, and $40 if it happens again within the next 6 billing periods. A returned payment fee applies if a payment is returned unpaid the first time it is presented to your bank: $29, and $40 if it happens again within the same billing period or the next 6 billing periods. For each fee, the amount on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement. The Rates and Fees Table summarizes both as "up to $40."
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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.
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.
Qualifications & exceptions
Repeat window: next 6 billing periods for late payment; same billing period or next 6 billing periods for returned payment.
Cap: the fee will not exceed the Amount Due (or Minimum Payment Due, if applicable) on the prior billing statement.
Cross-references
qualifies (model-proposed): Late payment and returned payment fees are each up to $40 — The table lists late and returned payment fees as "up to $40"; How Rates and Fees Work gives the $29 first-time amount, the $40 repeat amount and the cap by prior Amount Due.
Charges & Financial Obligations · Company practice
Returned check fee is $38 plus the unpaid amount when a check cashed with the Card is returned
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 and American Express will also charge you the unpaid amount.
Details not recorded for this card
Supporting quotations
$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
Account re-opening fee is $25 after a cancelled Account is re-opened at your request
A $25 fee applies if your Account is cancelled, you ask American Express to re-open it, and American Express does so.
Details not recorded for this card
Supporting quotations
$25 if your Account is cancelled, you ask us to re-open it, and we do so.
Charges & Financial Obligations · Restriction or exception
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 your Account so that the cash advance balance (including fees and interest) is not more than that Cash Advance Limit. For this limit, the balance 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 push the total of your Pay Over Time and/or Cash Advance balance and Plan balance over your Pay Over Time Limit.
Details not recorded for this card
Supporting quotations
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 $8,000 limit counts fees and interest in the cash advance balance.
"May not approve" is permissive; the text does not say American Express will always decline.
Not stated here
The text does not state the ATM cash or frequency limits; it says only that there "may" be such a limit.
Charges & Financial Obligations · Restriction or exception
Person-to-person transactions may not exceed $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 in any 30-day period stays within that Person-to-Person Limit. American Express may decline a person-to-person transaction that would cause the Account to exceed the limit.
Details not recorded for this card
Supporting quotations
Your person-to-person transactions may not exceed $4,000 within any 30-day period.
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
Measured over any 30-day period, not a calendar month.
Charges & Financial Obligations · Procedure
The monthly amount owed adds the Pay In Full balance, any Pay Over Time/Cash Advance minimum and 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. Each of these amounts includes 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:
Pay Over Time/Cash Advance Minimum Due is the highest of $40, 2% of the balance, or a tiered formula plus interest
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 third total built in steps. For the third figure, start with the Pay Over Time and/or Cash Advance New Balance minus the Interest charged on the statement (the "Amount"), then add 1% of the Amount from $0 through $20,000, 2% of the portion from $20,000.01 through $35,000, 5% from $35,000.01 through $50,000 and 10% above $50,000; divide that sum by the Amount and round to four decimals; multiply by the Amount; and add the Interest charged on the statement 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.
Details not recorded for this card
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
Step labels in the source run a through g; the third option uses all of them.
Capped at the Pay Over Time and/or Cash Advance New Balance.
Worked example: $30,300 balance including $300 interest, with $40 and $606 as the first two options
The agreement's 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 $300 of interest. The first option is $40; the second is 2% multiplied by $30,300, which equals $606. For the third option the Amount is $30,300 minus $300, which equals $30,000. The example continues in the next section with the tiered calculation and the final Minimum Payment Due.
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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.
Worked example result: a $699 Pay Over Time minimum plus $200 Pay In Full gives a $899 Minimum Payment Due
Continuing the agreement's example with an Amount of $30,000: 1% of $20,000 is $200; 2% of the next $10,000 is $200; the 5% and 10% tiers are $0; ($200 + $200) divided by $30,000 is 0.0133; $30,000 times 0.0133 is $399; adding the $300 of interest gives $699. The highest of the three options is $699. That Pay Over Time and/or Cash Advance Minimum Due of $699 plus the $200 Pay In Full New Balance makes a Minimum Payment Due of $899.
Details not recorded for this card
Supporting quotations
$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.
2% multiplied by $30,300 equals $606
How We Calculate the Amount Due Each Month
Qualifications & exceptions
An illustration of the formula in the previous section, using the example's own figures.
Charges & Financial Obligations · Company practice
Automatic Pay Over Time charges bear interest from the transaction date unless a zero-balance or two-period test is met
If Pay Over Time is a feature of the Account, charges are added to a Pay Over Time balance and interest is charged on them as follows. For charges added automatically at the time they post, interest runs from the transaction date until paid. For charges or portions of charges that are moved automatically from the Pay In Full balance to the Pay Over Time balance on the Closing Date, interest runs from the day after they are added until paid. However, there is no interest on charges added automatically to the Pay Over Time balance in a billing period if either (1) the Pay Over Time Previous Balance for that billing period is zero, or (2) you paid the Account Total New Balance (or, with an active Plan It plan, the Adjusted Balance) in full by the Payment Due Date for each of the previous two billing periods.
Details not recorded for this card
Supporting quotations
We charge interest on Pay Over Time balances as described below.
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
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 Pay Over Time is a feature of your Account, you may carry a balance with interest, up to your Pay Over Time Limit.
Qualifications & exceptions
Applies to charges added automatically to a Pay Over Time balance, not to cash advances or Pay Over Time Select purchases.
The two exceptions are alternatives ("or"); the second looks back over the previous two billing periods.
Not stated here
The Rates and Fees Table summary says "each month"; this section states the zero-previous-balance and two-previous-billing-periods conditions. The text does not explain how the two wordings relate.
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. The grace-period conditions described for Pay Over Time charges do not apply to cash advances.
Details not recorded for this card
Supporting quotations
For cash advances, we charge interest from the transaction date. You cannot avoid paying interest on cash advances.
Charges & Financial Obligations · Company practice
Pay Over Time Select purchases accrue interest from the date they are added at your request
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 until they are paid.
Details not recorded for this card
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.
Not stated here
The text in this agreement does not otherwise define Pay Over Time Select or say how a purchase is added to a Pay Over Time Select balance.
Charges & Financial Obligations · Context
A cash advance includes foreign currency, money orders, digital currency, casino chips and betting transactions
A "charge" is any amount added to the Account, such as purchases, cash advances, fees and interest. A "purchase" is a charge for goods, services or person-to-person 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. A "person-to-person transaction" is a charge for funds sent to another person or to add funds to an Amex Send account. These definitions decide which rates and fees apply, because cash advances carry their own APR, fee and limit.
Details not recorded for this card
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 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.
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.
Qualifications & exceptions
The cash advance list is introduced by "including," so it is not stated to be the complete list.
A plan is a part of the balance paid in set monthly payments through Plan It; the Closing Date ends a billing period
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 that statement.
Details not recorded for this card
Supporting quotations
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.
Charges & Financial Obligations · Company practice
Pay Over Time lets you carry a balance with interest up to your limit; when inactive, purchases are due in full
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 change or view at any time through your online account or by phone. 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. With a Pay Over Time balance, each month you can pay the Account Total New Balance in full, the Minimum Payment Due, or any amount in between. How charges are added to the Pay Over Time balance is described in the following text.
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Supporting quotations
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. 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 will be added to your Pay Over Time balance as described below.
Qualifications & exceptions
Applies only "if Pay Over Time is a feature of your Account."
Charges & Financial Obligations · Company practice
Eligible charges join Pay Over Time if it is active at 8 p.m. ET on the merchant's 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 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 an entire charge would push the total of your Pay Over Time, Cash Advance and Plan balances over the Pay Over Time Limit, that charge goes to your Pay In Full balance instead. Charges made or Annual Fees charged while Pay Over Time is inactive go to the Pay In Full balance, due in full each month. The merchant's transaction date may differ from the date you made the purchase, for example if the merchant is slow to submit the transaction or uses the shipping date. Charges with the same transaction date are added in any order American Express chooses.
Details not recorded for this card
Supporting quotations
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.
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.
The Pay Over Time Limit applies to the total of your Pay Over Time, Cash Advance, and Plan balances.
Qualifications & exceptions
The test is the Pay Over Time setting at 8 p.m. ET on the merchant-provided transaction date, not the date of purchase.
Pay Over Time Limit applies to the total of Pay Over Time, Cash Advance and Plan balances.
Charges & Financial Obligations · Company practice
On the Closing Date, eligible Pay In Full charges can be moved to Pay Over Time, in whole or in part, up to the limit
On your Closing Date, if 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 move all or part of those charges to your Pay Over Time balance, subject to the limit. If a charge would take the total over the limit, a portion up to the limit is moved and the rest stays in the Pay In Full balance. Eligible charges move in order of transaction date, with same-date charges in any order American Express chooses. Interest on charges moved this way runs from the day after they are added to the Pay Over Time balance (see the grace-period card for when no interest is charged). Certain charges are not eligible for this move (see the exclusions card).
Details not recorded for this card
Supporting quotations
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.
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.
When We Charge Interest on Pay Over Time and Cash Advance Balances (Grace Period)
Qualifications & exceptions
You "authorize" the automatic move; it is described as part of how Pay Over Time works, not as a separate request.
The extracted text numbers the conditions "1)" and "3)"; the middle condition appears as the start of the next list item. Read here as three conditions that must all be present, as the passage lists them.
Not stated here
The extracted text does not show a marker for the second condition; the card follows the wording as extracted and does not supply one.
Charges & Financial Obligations · Restriction or exception
Disputed, fraud-reported, foreign-fee and plan charges are not moved to Pay Over Time on the Closing Date
A new charge, or a portion of one, is not eligible to be moved to the Pay Over Time balance on the Closing Date if: it is subject to a Foreign Transaction Fee; it (or a portion) is disputed for a reason other than fraud and the dispute is not resolved in the billing period in which it was opened; it (or a portion) is reported as fraudulent and either American Express determined it fraudulent in the billing period it posted or has not yet determined whether it is fraudulent in that billing period; you created a plan for the charge using Plan It; Pay Over Time is suspended on your Account; or your Account is cancelled or enrolled in a payment program.
Details not recorded for this card
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 passage does not itself say they apply to the transaction-date addition.
The fee list shows Foreign Transaction: None for this Card; this passage does not say whether any charge on this Card is subject to a Foreign Transaction Fee.
Charges & Financial Obligations · Restriction or exception
Some charges, such as cash advances, are not eligible for Pay Over Time, and American Express may suspend it at any time
Certain charges are not eligible for Pay Over Time, such as cash advances, and American Express may change the eligibility of other charges. 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 will not be able to change your Pay Over Time setting from inactive to active.
Details not recorded for this card
Supporting quotations
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
Suspension may occur "at any time"; the listed bases are creditworthiness, Account status and payment program enrollment.
Charges & Financial Obligations · Company practice
With Pay Over Time Travel, eligible travel purchases are added automatically whether Pay Over Time is active or inactive
If your Account has 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, regardless of whether your Pay Over Time setting is active or inactive. If you request to cancel Pay Over Time Travel, you will not be able to re-enroll.
Details not recorded for this card
Supporting quotations
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.
Qualifications & exceptions
Applies only to Accounts that have the Pay Over Time Travel feature.
Cancelling the feature is permanent: no re-enrollment.
Not stated here
The text does not say which purchases count as "eligible travel-related purchases."
Charges & Financial Obligations · Company practice
Plan It may be offered for qualifying purchases, subject to a monthly plan fee
American Express may offer Plan It, which lets you create a payment plan for qualifying purchases subject to a plan fee. The fee is a fixed finance charge charged each month that a plan is active. You use the feature by selecting qualifying purchases and a plan duration. Plan details are in the next section.
Details not recorded for this card
Supporting quotations
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 may use this feature by selecting qualifying purchases and a plan duration.
Qualifications & exceptions
Plan It is something American Express "may offer"; it is not stated to be available on every Account.
Charges & Financial Obligations · Company practice
A Plan It fee depends on the purchase's APR, plan duration and other factors, and is shown before you create the plan
You use Plan It by selecting qualifying purchases and a plan duration. You can view the monthly plan payments, including the plan fee, for your selection, and each plan fee is disclosed before you create the plan. The APR behind the fee depends on where the purchase sits: for a purchase in your Pay Over Time balance, the APR that would otherwise apply to it; for a purchase in your Pay In Full balance, the APR that applies to the Pay Over Time feature when you create the plan; and for a purchase divided between the two (because only part was moved to Pay Over Time on the Closing Date), whichever of those two APRs is lower. The Rates and Fees Table adds that the plan duration and other factors also affect the fee.
Details not recorded for this card
Supporting quotations
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.
or the APR that applies to the Pay Over Time feature at the time you create the plan, whichever is lower.
the plan duration; and other factors.
We may offer you Plan It
Qualifications & exceptions
Which APR applies depends on whether the purchase is in the Pay Over Time balance, the Pay In Full balance, or divided between them.
Not stated here
The text does not say what "other factors" besides APR and plan duration affect the plan fee.
Charges & Financial Obligations · Restriction or exception
A qualifying Plan It purchase must meet a minimum amount; cash equivalents, foreign-fee purchases and fees are excluded
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.
Details not recorded for this card
Supporting quotations
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 dollar amount" is not given in this agreement text.
Charges & Financial Obligations · Restriction or exception
Plan creation depends on creditworthiness and the limit; suspension or any past-due American Express Account blocks it
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 that would cause you to exceed the limit. You cannot create plans if Pay Over Time 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 several qualifying purchases in one plan, are at its discretion based on factors such as creditworthiness, the purchase amounts and your Account history.
Details not recorded for this card
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 tests look at "one or more of your American Express Accounts," not only this Card.
Not stated here
The number of active plans permitted is not stated; the text says American Express will tell you.
Charges & Financial Obligations · User right or choice
Plans cannot be cancelled, but paying the Account Total New Balance in full pays one off early with no further plan fees
Plans cannot be cancelled after they have been created. 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.
Details not recorded for this card
Supporting quotations
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.
Qualifications & exceptions
Early payoff is by paying the Account Total New Balance in full, not by paying the plan alone.
Charges & Financial Obligations · Restriction or exception
The Pay Over Time Limit caps 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 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; a charge that would push the balance over 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. American Express may increase or reduce the limit at any time, even if you pay on time and are not in default, and says it will tell you if it changes. 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.
Details not recorded for this card
Supporting quotations
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.
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. 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 public text does not show the Pay Over Time Limit for any Account; it says the limit is shown on page 1 of Part 1 and on statements.
Charges & Financial Obligations · Company practice
You promise to pay all charges, including those by others you permit, by the Payment Due Date
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 and nobody signs for the transaction. 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.
Details not recorded for this card
Supporting quotations
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.
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 clearable in the U.S.
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 (for example a money order), or an electronic payment that can be cleared through the U.S. banking system. When paying by mail you 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 the check or negotiable instrument and include the payment coupon.
Details not recorded for this card
Supporting quotations
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 if on time, else the next day; noncompliant payments may be delayed
If your payment meets the stated requirements, American Express credits it to your Account as of the day it receives it, as long as it receives it by the time and in the manner disclosed in your billing statement; if it receives it after that time, it credits the payment on the day after. If your payment does not meet the requirements, there may be a delay in crediting your Account, which may result in late payment fees and additional interest charges.
Details not recorded for this card
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.
Charges & Financial Obligations · Restriction or exception
Foreign-currency and non-U.S.-bank payments are refused; processing a late, partial or restricted payment waives nothing
American Express will not accept a payment made in a foreign currency or a payment 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.
Details not recorded for this card
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 go first to the Pay In Full balance and plan amounts due, then to the lowest-rate balance up to the minimum
Where an Account has balances at different interest rates, plan balances or plan fees, American Express says it "generally" applies payments in a billing period in two stages. Up to the Minimum Payment Due, a payment goes 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, starting with the balance with the lowest interest rate and moving to higher rates. 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.
Details not recorded for this card
Supporting quotations
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
Described as how payments are "generally" applied, not as an exhaustive rule.
The order reverses on rate direction once the Minimum Payment Due is paid: lowest rate first up to the minimum, highest rate first after it.
Charges & Financial Obligations · Procedure
Credits generally go to the balance of the related charge; a credit for a plan purchase must be applied by calling
In most cases a credit is applied to the same balance as the related charge. Payments and credits within a balance, and among balances with the same interest rate, may be applied in any order American Express chooses. A negative balance at the end of a billing period is redistributed to other balances under the payment order described above, which means plan balances may in some circumstances get paid before they otherwise would. If you receive a credit for a purchase added to a plan, you must call American Express at the number on the back of your Card to have the credit applied to the plan balance.
Details not recorded for this card
Supporting quotations
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.
Qualifications & exceptions
"In most cases" signals exceptions to applying a credit to the related charge's balance.
Charges & Financial Obligations · Company practice
Interest is calculated for each balance separately using the Average Daily Balance method including new transactions
American Express calculates interest for a billing period by first figuring the interest on each balance, since balances within the Pay Over Time feature and Cash Advance balances may have different interest rates. It uses the Average Daily Balance method (including new transactions) for each balance, and the total interest charged for the billing period is the sum of the interest on each balance.
Details not recorded for this card
Supporting quotations
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.
Charges & Financial Obligations · Company practice
Interest for a balance equals average daily balance times the daily periodic rate times the days in the billing period
The interest charged on a balance in a billing period, except for rounding, equals the Average Daily Balance (ADB) multiplied by the Daily Periodic Rate (DPR) multiplied by the number of days in the billing period. The ADB is the sum of the daily balances divided 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.
Details not recorded for this card
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.
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. DPR: A DPR is 1/365th of an APR, rounded to one ten-thousandth of a percentage point.
Qualifications & exceptions
Rounding variations are expressly excepted.
Not stated here
The agreement says "Your DPRs are shown in How Rates and Fees Work in Part 1," but that published section lists no DPR values (see the separate card).
The agreement says DPRs are shown in Part 1, but the published Part 1 lists no Daily Periodic Rate values
Part 2 states, "Your DPRs are shown in How Rates and Fees Work in Part 1." The published Part 1 does not contain them: its How Rates and Fees Work section holds only the Explanation of Variable Rates, Determining the Prime Rate, fees and limits, and its Rates and Fees Table gives APRs as the Prime Rate plus a margin (some as a range) with no DPR values. The agreement defines a DPR as 1/365th of an APR, but this card does not compute DPRs from the APRs or take them from another document; the published agreement does not show them.
Details not recorded for this card
Supporting quotations
Your DPRs are shown in How Rates and Fees Work in Part 1.
Prime Rate + 12.74% to Prime Rate + 21.74%
If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase.
Qualifications & exceptions
The reference is to "Your DPRs," which suggests Card Member-specific Part 1 content that the public document does not reproduce; the text itself does not say why they are absent.
Not stated here
The actual DPR values are not stated in this document and are not supplied here.
Worked example: 15.99% APR on a $2,250 average daily balance over 30 days gives $29.57 of interest
The agreement's example assumes a single interest rate of 15.99%, an ADB of $2,250 and 30 days in the billing period. The DPR is 15.99% divided by 365 days, which equals 0.0438%, and the interest is $2,250 multiplied by 0.0438% multiplied by 30 days, which equals $29.57. The 15.99% rate is the example's own assumption and is not a rate stated for this Card.
Details not recorded for this card
Supporting quotations
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
Charges & Financial Obligations · Company practice
Daily balances add new charges as of the transaction date, and interest compounds daily
Each day's daily balance starts with the beginning balance for the day, adds any new charges, subtracts any payments or credits and makes any appropriate adjustments. A new charge is added as of its transaction date, except that charges automatically moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date are added as of the day after they are moved. A negative daily balance is treated as zero. For the first day of a billing period the beginning balance is the prior period's ending balance, including unpaid interest; for later days it is the previous day's daily balance plus interest equal to that daily balance multiplied by the DPR. The agreement states that this method results in daily compounding of interest.
Details not recorded for this card
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, 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.
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.
we charge interest from the day after they are added to your Pay Over Time balance until they are paid
Qualifications & exceptions
"Appropriate adjustments" is not defined in this passage.
Not stated here
The text does not say what adjustments are "appropriate."
Charges & Financial Obligations · Permission or license
American Express may use other equivalent methods and may choose not to charge interest on certain types of 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.
Details not recorded for this card
Supporting quotations
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 text does not say which types of charges might not bear interest.
Charges & Financial Obligations · Company practice
You agree to pay reasonable costs, including attorneys' fees, that American Express incurs to collect what you owe
You agree to pay all reasonable costs, including attorneys' fees, that American Express incurs to collect amounts you owe.
Details not recorded for this card
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 · User right or choice
You may 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 refund the fee if you notify it that you are voluntarily closing the Account within 30 days after the Closing Date of the billing statement on which the fee appears. For cancellations after the 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."
Details not recorded for this card
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
Refund requires notifying American Express that you are voluntarily closing the Account.
The 30 days run from the Closing Date of the statement on which the Annual Fee appears.
Not stated here
For a Massachusetts billing address the text says only that "this policy will not apply to you"; it does not say what refund rule applies instead.
Charges & Financial Obligations · Company practice
If a cancelled Account is re-opened at your request, American Express may charge a $25 fee
If your Account is cancelled and American Express re-opens it at your request, it may charge you a $25 fee. This matches the $25 Account Re-opening fee listed in How Rates and Fees Work, which describes it as a fee that applies when the Account is cancelled, you ask to re-open it and American Express does so.
Details not recorded for this card
Supporting quotations
If your Account is cancelled and we re-open it at your request, we may charge you a $25 fee.
Charges & Financial Obligations · Permission or license
Paying by check authorizes a one-time electronic debit from your bank account, possibly the same day
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 it receives the 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.
Details not recorded for this card
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.
Qualifications & exceptions
The authorization is for a one-time transfer for that check payment.
Not stated here
The passage does not say which "certain circumstances" lead to processing as a check transaction.
Charges & Financial Obligations · Company practice
Foreign-currency charges are converted to U.S. dollars by AE Exposure Management Ltd. at a rate it chooses
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 law requires a particular rate, AEEML chooses a rate acceptable to American Express for that date, which 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. The 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 they use.
Details not recorded for this card
Supporting quotations
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 rate is an upper bound ("no more than the highest"), not a fixed or guaranteed rate.
The conversion date is when American Express or its agents process the charge, which may be later than the charge date.
Not stated here
The text does not state the margin or rate AEEML actually applies.
Oregon notice: service charges not above those permitted by law; 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.
Details not recorded for this card
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.
Qualifications & exceptions
A state-specific notice headed "Notice to Oregon Residents."
Not stated here
The text does not say which Oregon law sets the permitted level of service charges.
Charges & Financial Obligations · User right or choice
Washington notice: no interest owed that results solely from a delay in posting a credit
The notice for residents of Washington State cites Section 63.14.167 of the Revised Code of Washington Statutes and says you are not responsible for payment of interest charges that result solely from a merchant's failure to transmit to American Express within seven working days a credit for goods or services accepted for return or forgiven if you have notified American Express of the merchant's delay in posting such credit, or from American Express's failure to post such credit to your Account within three working days of its receipt of the credit.
Details not recorded for this card
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
Headed "Notice for residents of Washington State"; the notification condition is worded after the merchant-delay limb, and the sentence does not make clear whether it also attaches to the second limb (American Express's own posting delay).
The relief is limited to interest that results "solely" from the stated delays.
Not stated here
The text of the cited Washington statute is not supplied here; the card reports only what this agreement states.