The Platinum Card® from American Express Exclusively for Charles Schwab Agreement

Charges & Financial Obligations · Company practice

Pay Over Time purchases carry a variable APR of Prime Rate plus 12.74% to plus 21.74%

The Annual Percentage Rate for Pay Over Time is shown as a range: the Prime Rate plus 12.74% up to the Prime Rate plus 21.74%. The table calls it a variable APR and points to the Explanation of Variable Rates.

Details not recorded for this card

Supporting quotations

| Annual Percentage Rate (APR) for Pay Over Time | Prime Rate + 12.74% to Prime Rate + 21.74% This is a variable APR. See Explanation of Variable Rates below. |

Qualifications & exceptions

• Variable means the rate moves with the Prime Rate; the separate Explanation of Variable Rates card covers when changes take effect and the 29.99% ceiling.

Not stated here

• The table does not say which point in the range applies to a particular Card Member or what decides it.
• The table gives no resulting percentage, because the Prime Rate value changes over time.

Charges & Financial Obligations · Company practice

Cash advances carry a variable APR of Prime Rate plus 21.99%

The APR for cash advances is the Prime Rate plus 21.99%. The table says it is variable and points to the Explanation of Variable Rates.

Details not recorded for this card

Supporting quotations

| APR for Cash Advances | Prime Rate + 21.99% This is a variable APR. See Explanation of Variable Rates below. |

Qualifications & exceptions

• Interest on cash advances is charged from the transaction date (see the Paying Interest card).

Not stated here

• The table gives no resulting percentage, because the Prime Rate value changes over time.

Charges & Financial Obligations · Permission or license

A penalty APR of Prime Rate plus 26.74% can be applied after a missed or returned payment

American Express reserves the right to apply a penalty APR of the Prime Rate plus 26.74% to new transactions in a Pay Over Time balance in two situations: you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date, or your payment is returned by your bank. The returned-payment trigger ends with the words "and we will notify you if we do".

Details not recorded for this card

Supporting quotations

| Penalty APR and When it Applies | Prime Rate + 26.74% This is a variable APR.

We have the right to apply the penalty APR to new transactions in a Pay Over Time balance if: • you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date; or • your payment is returned by your bank and we will notify you if we do.

Qualifications & exceptions

• The penalty APR applies to new transactions in a Pay Over Time balance, according to the table.
• It is a variable APR, like the other rates in the table.

Not stated here

• The table does not say whether the penalty APR also applies to balances that already existed when it is triggered, beyond the words "new transactions in a Pay Over Time balance".
• The words "we will notify you if we do" are ambiguous about what "do" refers to (applying the penalty APR or the returned payment), and the table does not say how or when notice is given.

Cross-references

• referred to by (model-proposed): A late payment fee is $29, rising to $40 if repeated within 6 billing periods, and is capped by the prior statement — A missed Minimum Payment Due is both a late fee trigger and a penalty APR trigger.

Charges & Financial Obligations · Restriction or exception

Once applied, the penalty APR lasts at least 6 months and ends only after 6 months of timely payments

If the penalty APR is applied, it applies for at least 6 months. American Express reviews the Account every 6 months after that. The penalty APR continues until you have made timely payments with no returned payments during the 6 months being reviewed.

Details not recorded for this card

Supporting quotations

How Long Will the Penalty APR Apply? If the penalty APR is applied, it will apply for at least 6 months. We will review your Account every 6 months after the penalty APR is applied. The penalty APR will continue to apply until you have made timely payments with no returned payments during the 6 months being reviewed.

Qualifications & exceptions

• The review is every 6 months after the penalty APR is applied, so the rate can last longer than 6 months if a review period includes a late or returned payment.

Charges & Financial Obligations · User right or choice

Interest-free period on automatic Pay Over Time charges depends on paying in full; cash advances accrue at once

The table says your Payment Due Date is at least 25 calendar days after each billing period closes, and that no interest is charged on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance (or Adjusted Balance, if you have a Plan balance) by the Payment Due Date. The full grace-period section is more specific: charges added automatically to Pay Over Time are interest-free in a billing period only if a listed condition is met, and one listed condition is having paid the Account Total New Balance (or Adjusted Balance with an active Plan It plan) in full by the Payment Due Date for each of the previous two billing periods. Charges automatically moved to Pay Over Time on the Closing Date start accruing interest the day after they are moved. Cash advances are different: interest begins on the transaction date.

Details not recorded for this card

Supporting quotations

Your Payment Due Date is at least 25 calendar days after the close of each billing period. We will not charge you interest on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance on your billing statement (or, if you have a Plan balance, your Adjusted Balance on your billing statement) by the Payment Due Date. If you have Cash Advance on your Account, we will begin charging interest on cash advances on the transaction date.

When We Charge Interest on Pay Over Time and Cash Advance Balances (Grace Period)

For charges added automatically to a Pay Over Time balance at the time they post to your account, we charge interest from the transaction date until they are paid. For charges or portions of charges that we automatically move from your Pay In Full balance to your Pay Over Time balance on your Closing Date, we charge interest from the day after they are added to your Pay Over Time balance until they are paid. However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:

you paid the Account Total New Balance on your billing statement (if any) or Adjusted Balance (if you have an active plan created through Plan It) for each of the previous two billing periods in full by the Payment Due Date shown on each of those billing statements.

Qualifications & exceptions

• The table's summary is shorter than the grace-period section, which sets the specific conditions; read them together.
• Interest on cash advances starts on the transaction date, according to the table.

Cross-references

• qualified by (model-proposed): Pay Over Time interest runs from the transaction date unless the balance was zero or paid in full two periods — The table's one-line summary of the interest-free rule (paying in full each month) is qualified by the grace-period section, which sets the specific conditions: a zero Pay Over Time Previous Balance, or full payment for each of the previous two billing periods.

Charges & Financial Obligations · Company practice

Plan It charges a monthly plan fee of up to 1.33% of each purchase placed in a plan

A purchase placed in a Plan It plan carries a monthly plan fee (a fixed finance charge) of up to 1.33% of the purchase. The percentage depends on the APR that would otherwise apply to the purchase (or the APR for Pay Over Time when the plan is created, or the lower of the two for a split purchase), the plan duration and other factors. Each plan fee is disclosed before the plan is created, and paying a plan off early means no future plan fees on that plan.

Details not recorded for this card

Supporting quotations

| Plan Fee (Fixed Finance Charge) | A monthly plan fee of up to 1.33% of each purchase placed in a plan based on: either the APR that would otherwise apply to that purchase (for purchases in a Pay Over Time balance), the APR that applies to the Pay Over Time feature at the time you create the plan (for purchases in a Pay In Full balance), or the lower of the two APRs (for purchases that are divided between a Pay Over Time balance and a Pay In Full balance); the plan duration; and other factors.

Each plan fee will be disclosed before you create the applicable plan.

If you pay a plan off early, you will not incur any future plan fees on that plan.

Qualifications & exceptions

• The table points to the Plan It section for details; the specific fee for a plan is disclosed when you create it.

Not stated here

• The table lists "other factors" without naming them.
• The table does not state the minimum purchase size for Plan It; the agreement elsewhere refers to "a specified dollar amount" without giving it.

Charges & Financial Obligations · Company practice

The annual fee is $895

The Rates and Fees Table lists an Annual Fee of $895 for this Card.

Details not recorded for this card

Supporting quotations

| Annual Fee | $895 |

Qualifications & exceptions

• The fee for Additional Cards is separate (see the Additional Card annual fee card).

Not stated here

• The table does not say when the annual fee is billed or how a refund works on this page; Part 3 covers refunds.

Cross-references

• qualified by (model-proposed): You can close the Account by call or letter; the annual fee is refunded only if you close within 30 days — The $895 annual fee is refundable only if the Account is voluntarily closed within 30 days after the Closing Date of the statement showing it, with a Massachusetts exception stated in Part 3.

Charges & Financial Obligations · Company practice

A cash advance costs the greater of $10 or 5% of the amount

The transaction fee for a cash advance is either $10 or 5% of the amount of each cash advance, whichever is greater.

Details not recorded for this card

Supporting quotations

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

Qualifications & exceptions

• The fee is in addition to the cash advance APR and interest from the transaction date.

Charges & Financial Obligations · Company practice

The Rates and Fees Table lists no foreign transaction fee

The table lists the Foreign Transaction fee as "None".

Details not recorded for this card

Supporting quotations

Foreign Transaction: None.

Qualifications & exceptions

• This line is about the fee only. How foreign-currency charges are converted into U.S. dollars is covered separately in Part 3.

Cross-references

• qualified by (model-proposed): AEEML converts foreign-currency charges to dollars at a rate it chooses, which can differ from the charge-date rate — The table's "Foreign Transaction: None" is qualified by the Part 3 conversion terms: there is no fee, but AEEML chooses the exchange rate.

Charges & Financial Obligations · Company practice

Late and returned payment fees are up to $40 each

The Rates and Fees Table lists a Late Payment fee of up to $40 and a Returned Payment fee of up to $40.

Details not recorded for this card

Supporting quotations

| Penalty Fees | Late Payment: Up to $40. Returned Payment: Up to $40. |

Qualifications & exceptions

• The table gives only the maximum; the actual amounts, the repeat-offense rule and the cap relative to the prior statement are in How Rates and Fees Work (see the late and returned payment fee card).

Charges & Financial Obligations · Company practice

Interest uses the average daily balance method including new purchases

Interest is calculated using the average daily balance method (including new purchases). The table points to Part 2 for how interest is calculated on Pay Over Time and Cash Advance balances.

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 move with the Prime Rate, take effect at the start of the billing period, and are capped at 29.99%

If the Prime Rate increases, the variable APRs (and the corresponding DPRs, the daily periodic rates) increase, so you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting APR changes take effect as of the first day of the billing period during which the Prime Rate changed. Variable APRs will not exceed 29.99%.

Details not recorded for this card

Supporting quotations

Explanation of Variable Rates: If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase. In that case, you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the billing period during which the Prime Rate has changed. Variable APRs will not exceed 29.99%.

Qualifications & exceptions

• The sentence says what happens if the Prime Rate increases; it does not spell out what happens when it decreases.

Not stated here

• This section does not list any DPR values or the resulting APR numbers; the Prime Rate changes over time.

Cross-references

• defined by (model-proposed): The daily periodic rate is 1/365th of an APR, but this published agreement shows no daily periodic rate values — The Part 2 definition of a DPR explains the "corresponding DPRs" mentioned in the variable rate explanation, while the published agreement shows no DPR values.

Charges & Financial Obligations · Context

The Prime Rate is the highest U.S. Prime Rate published in The Wall Street Journal on the Closing Date

Prime Rate means the highest U.S. Prime Rate published in the rates section of The Wall Street Journal on the Closing Date of the billing period. If The Wall Street Journal does not publish it that day, the Prime Rate from the previous day it was published is used. If The Wall Street Journal is no longer published or stops publishing the Prime Rate, American Express may use the Prime Rate published in another newspaper of general circulation.

Details not recorded for this card

Supporting quotations

Determining the Prime Rate: Prime Rate means the highest U.S. Prime Rate published in the rates section of The Wall Street Journal on the Closing Date of the billing period. If The Wall Street Journal does not publish the Prime Rate on that day, we will use the Prime Rate from the previous day it was published. If The Wall Street Journal is no longer published or stops publishing the Prime Rate, we may use the Prime Rate published in another newspaper of general circulation.

Qualifications & exceptions

• The replacement-newspaper rule is permissive ("may use"); the section does not name the other newspaper.

Charges & Financial Obligations · Company practice

Additional Platinum Cards cost $195 a year and Companion Platinum Cards cost $0

Each Additional Platinum Card has a $195 annual fee, and each Companion Platinum Card has a $0 annual fee. If an annual fee applies to an Additional Card, the refund policy is in the Closing or suspending your Account sub-section of Part 3.

Details not recorded for this card

Supporting quotations

Annual Fee for Additional Cards: Each Additional Platinum Card is $195 annually, and each Companion Platinum Card is $0 annually.

About Additional Card Members

If an Annual Fee applies for an Additional Card, please refer to the refund policy disclosed in the Closing or suspending your Account sub-section of Part 3 of this Agreement.

Qualifications & exceptions

• The $895 annual fee for the main Account is in the Rates and Fees Table; this line is about the extra cards only.

Not stated here

• This section does not say how the Additional Card annual fee is billed.

Charges & Financial Obligations · Company practice

The plan fee is a fixed finance charge billed each month a plan is active

The Plan It plan fee is a fixed finance charge that is charged each month that a plan is active. Its dollar amount is disclosed before you set up a plan, and the agreement sends you to About Plan It in Part 2 for more.

Details not recorded for this card

Supporting quotations

This fee is a fixed finance charge that will be charged each month that a plan is active. The dollar amount of your plan fee will be disclosed before you set up a plan. For more information, see About Plan It in Part 2.

Each plan fee will be disclosed before you create the applicable plan.

Qualifications & exceptions

• The Rates and Fees Table gives the maximum monthly percentage (see the plan fee card from the table).

Charges & Financial Obligations · Company practice

A cash advance fee is 5% of the advance, with a $10 minimum, and ATM operator fees count toward the base

The cash advance fee is 5% of an ATM cash advance (including any fee charged by the ATM operator) or other cash advance, with a minimum of $10. American Express adds this fee to the Cash Advance balance.

Details not recorded for this card

Supporting quotations

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

Qualifications & exceptions

• The 5% is calculated on the cash advance amount including any ATM operator fee, so the operator's fee is itself subject to the 5% fee.

Cross-references

• defined by (model-proposed): A cash advance includes cash equivalents, foreign currency, digital currency and betting transactions — The definition of a cash advance in Part 2 sets what the cash advance fee in Part 1 applies to.

Charges & Financial Obligations · Company practice

No foreign transaction fee, but foreign charges are converted at a rate AEEML chooses

The Foreign Transaction fee is "None". The agreement separately explains that AE Exposure Management Ltd. (AEEML) converts a foreign-currency charge into U.S. dollars on the date American Express or its agents process it, and picks a conversion rate acceptable to American Express. That rate may differ from rates in effect on the date of the charge.

Details not recorded for this card

Supporting quotations

Foreign Transaction: None.

AEEML will choose a conversion rate that is acceptable to us for that date.

The rate AEEML uses is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day.

This rate may differ from rates that are in effect on the date of your charge.

Qualifications & exceptions

• No fee does not mean a market exchange rate: the rate is chosen by AEEML, which the agreement says is no more than the highest official or interbank rate it identifies for the conversion date or prior business day.

Cross-references

• qualified by (model-proposed): AEEML converts foreign-currency charges to dollars at a rate it chooses, which can differ from the charge-date rate — The no-foreign-fee line in How Rates and Fees Work is qualified by the Part 3 conversion terms.

Charges & Financial Obligations · Company practice

A late payment fee is $29, rising to $40 if repeated within 6 billing periods, and is capped by the prior statement

If American Express does not receive the Amount Due (or Minimum Payment Due, if applicable) by the Payment Due Date, the late payment fee is $29. If this happens again within the next 6 billing periods, the fee is $40. The late fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.

Details not recorded for this card

Supporting quotations

Late Payment: Up to $40. If we do not receive the Amount Due (or Minimum Payment Due, if applicable) by the Payment Due Date, the fee is $29. If this happens again within the next 6 billing periods, the fee is $40. However, the late fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.

you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date

Qualifications & exceptions

• The Rates and Fees Table describes this as "Up to $40".
• A late payment can also trigger the penalty APR, because the same missed minimum payment is a trigger for it.

Cross-references

• refers to (model-proposed): A penalty APR of Prime Rate plus 26.74% can be applied after a missed or returned payment — A missed Minimum Payment Due is both a late fee trigger and a penalty APR trigger.

Charges & Financial Obligations · Company practice

A returned payment fee is $29, then $40 on repeats in the same or next 6 billing periods, with a cap

If you make a payment that is returned unpaid the first time American Express presents it to your bank, the fee is $29. If you do this again within the same billing period or the next 6 billing periods, the fee is $40. The returned payment fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.

Details not recorded for this card

Supporting quotations

Returned Payment: Up to $40. If you make a payment that is returned unpaid the first time we present it to your bank, the fee is $29. If you do this again within the same billing period or the next 6 billing periods, the fee is $40. However, the returned payment fee on a billing statement will not exceed the Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.

your payment is returned by your bank

Qualifications & exceptions

• The Rates and Fees Table describes this as "Up to $40".
• A returned payment can also trigger the penalty APR.

Charges & Financial Obligations · Company practice

A returned check costs $38 plus the unpaid amount when you cash a check with the card

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

Details not recorded for this card

Supporting quotations

Returned Check: $38 if you use your card to cash a check at one of our approved locations and the check is returned unpaid. We will also charge you the unpaid amount.

Charges & Financial Obligations · Company practice

Re-opening a cancelled Account costs $25

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

Details not recorded for this card

Supporting quotations

Account Re-opening: $25 if your Account is cancelled, you ask us to re-open it, and we do so.

Qualifications & exceptions

• Part 3 uses softer wording ("may charge you a $25 fee"); see the closing and re-opening card there.

Cross-references

• contrast (model-proposed): American Express may charge a $25 fee if it re-opens a cancelled Account at your request — Part 1 lists the $25 re-opening fee as applying if the Account is cancelled, re-opened at your request and American Express does so; Part 3 says American Express "may charge" a $25 fee. The wording differs between permissive and fixed, and the document does not reconcile them.

Charges & Financial Obligations · Restriction or exception

The cash advance balance may not exceed $8,000, and cash advances can also be limited by the Pay Over Time Limit

Your cash advance balance may not exceed $8,000, and you agree to manage the Account so that it (including fees and interest) stays within the Cash Advance Limit. The balance for this limit is figured by adding new cash advance transactions to the prior day's ending cash advance balance. There may also be a limit on the amount of cash and number of times you can get cash from ATMs in a given period. American Express may not approve a cash advance if it would take the total of your Pay Over Time and/or Cash Advance balance and Plan balance over your Pay Over Time Limit.

Details not recorded for this card

Supporting quotations

Cash Advance Limit: Your cash advance balance may not exceed $8,000.

There may also be a limit on the amount of cash and number of times you can obtain cash from ATMs in a given period. You agree to manage your Account so that your cash advance balance (including fees and interest) is not more than the Cash Advance Limit.

your cash advance balance will be determined by adding new cash advance transactions to the ending cash advance balance of the prior day

we may not approve a cash advance transaction if it would cause the total of your Pay Over Time and/or Cash Advance balance and Plan balance to go over your Pay Over Time Limit

Qualifications & exceptions

• The limit includes fees and interest, which grow the balance without a new transaction.

Not stated here

• The ATM cash and frequency limits are not stated in this section.
• The Pay Over Time Limit amount is not stated in this section.

Charges & Financial Obligations · Restriction or exception

Person-to-person transactions are limited to $4,000 in any 30-day period

Your person-to-person transactions may not exceed $4,000 within any 30-day period, and you agree to manage your Account so the total stays within the Person-to-Person Limit. American Express may not approve a person-to-person transaction that would cause the Account to exceed the limit.

Details not recorded for this card

Supporting quotations

Person-to-Person Limit: Your person-to-person transactions may not exceed $4,000 within any 30-day period. You agree to manage your Account so that the total of your person-to-person transactions in any 30-day period does not exceed the Person-to-Person Limit.

We may not approve a person-to-person transaction if it would cause your Account to exceed the applicable Person-to- Person Limit.

Qualifications & exceptions

• This section does not define what counts as a person-to-person transaction.

Charges & Financial Obligations · Company practice

The monthly amount due is the Pay In Full balance plus Pay Over Time and Cash Advance minimum plus any Plan payment

The amount you owe each month is the sum of three items on your billing statement: the Pay In Full New Balance, any Pay Over Time and/or Cash Advance Minimum Due, and any Plan Payment Due. Those amounts include any past-due amounts.

Details not recorded for this card

Supporting quotations

The amount you owe each month is the sum of the following on your billing statement:

The Pay In Full New Balance

Any Pay Over Time and/or Cash Advance Minimum Due

Any Plan Payment Due

Above amounts include any past due amounts.

Charges & Financial Obligations · Company practice

The Pay Over Time and Cash Advance minimum is the highest of $40, 2% of the balance or a tiered formula

The Pay Over Time and/or Cash Advance Minimum Due is the highest of three figures: $40; 2% of the Pay Over Time and/or Cash Advance New Balance; or a tiered total. For the tiered total, take the Pay Over Time and/or Cash Advance New Balance minus the Interest charged on the statement as the Amount; apply 1% to the part from $0 through $20,000, 2% to the part from $20,000.01 through $35,000, 5% to the part from $35,000.01 through $50,000 and 10% to the part above $50,000; add those pieces; divide by the Amount and round to four decimals; multiply by the Amount; then add the Interest charged plus any Pay Over Time and/or Cash Advance amount past due. The Minimum Due will not exceed the Pay Over Time and/or Cash Advance New Balance, and you may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.

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

• The dollar tiers apply to the Amount, which excludes the Interest charged on the statement; the interest is added back at the end.

Charges & Financial Obligations · Context

Minimum due example, setup: $200 Pay In Full and $30,300 Pay Over Time balance including $300 interest

The agreement's worked example assumes a Pay In Full New Balance of $200 and a Pay Over Time and/or Cash Advance New Balance of $30,300 that includes Interest of $300. Under the three tests, the first gives $40, the second gives 2% of $30,300 which is $606, and the third starts from $30,300 minus $300 which is $30,000. The next section carries the third test through to its result.

Details not recorded for this card

Supporting quotations

EXAMPLE: You have: a Pay In Full New Balance of $200 and a Pay Over Time and/or Cash Advance New Balance of $30,300, which includes Interest of $300.

$40

2% multiplied by $30,300 equals $606

$30,300 minus $300 equals $30,000

Qualifications & exceptions

• The example is illustrative arithmetic for the minimum due rule; it is not a statement about any actual Account.

Charges & Financial Obligations · Context

Minimum due example, result: the third test gives $699 and the example Minimum Payment Due is $899

In the agreement's worked example, the tiered test works out to $699: 1% of $20,000 is $200, 2% of the next $10,000 is $200, the upper tiers are $0, the sum of $400 divided by $30,000 is 0.0133, $30,000 times 0.0133 is $399, and adding the $300 interest gives $699. The highest of the three tests ($40, $606 and $699) is $699. Adding the $200 Pay In Full New Balance gives a Minimum Payment Due of $899.

Details not recorded for this card

Supporting quotations

2% multiplied by $30,300 equals $606

$30,300 minus $300 equals $30,000

a. 1% multiplied by $20,000 equals $200

b. 2% multiplied by ($30,000 minus $20,000) equals $200

c. 5% multiplied by $0 equals $0

d. 10% multiplied by $0 equals $0

e. ($200 plus $200) divided by $30,000 equals 0.0133

f. $30,000 multiplied by 0.0133 equals $399

g. $399 plus $300 equals $699

The highest of 1., 2. or 3. is $699. The Pay Over Time and/or Cash Advance Minimum Due of $699 plus the Pay in Full New Balance of $200 together make up the Minimum Payment Due of $899.

Qualifications & exceptions

• The example shows how the Pay In Full New Balance is added on top of the Pay Over Time and/or Cash Advance Minimum Due to reach the Minimum Payment Due.

Charges & Financial Obligations · Company practice

Cash advances accrue interest from the transaction date and the interest cannot be avoided

For cash advances, American Express charges interest from the transaction date, and the agreement says you cannot avoid paying interest on cash advances.

Details not recorded for this card

Supporting quotations

When We Charge Interest on Pay Over Time and Cash Advance Balances (Grace Period)

For cash advances, we charge interest from the transaction date. You cannot avoid paying interest on cash advances.

Charges & Financial Obligations · Restriction or exception

Pay Over Time interest runs from the transaction date unless the balance was zero or paid in full two periods

Charges added automatically to a Pay Over Time balance when they post accrue interest from the transaction date until paid. Charges moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date accrue interest from the day after they are added. But no interest is charged on charges added automatically to the Pay Over Time balance in a billing period if either (1) your Pay Over Time Previous Balance for that billing period is zero, or (2) you paid the Account Total New Balance (or the Adjusted Balance, if you have an active Plan It plan) in full by the Payment Due Date shown on each of the previous two billing statements.

Details not recorded for this card

Supporting quotations

For charges added automatically to a Pay Over Time balance at the time they post to your account, we charge interest from the transaction date until they are paid. For charges or portions of charges that we automatically move from your Pay In Full balance to your Pay Over Time balance on your Closing Date, we charge interest from the day after they are added to your Pay Over Time balance until they are paid. However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:

your Pay Over Time Previous Balance for the billing period is zero; or

you paid the Account Total New Balance on your billing statement (if any) or Adjusted Balance (if you have an active plan created through Plan It) for each of the previous two billing periods in full by the Payment Due Date shown on each of those billing statements.

We will not charge you interest on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance on your billing statement (or, if you have a Plan balance, your Adjusted Balance on your billing statement) by the Payment Due Date.

you authorize us to automatically move all or a portion of those charges to your Pay Over Time balance, subject to your Pay Over Time Limit

A new charge, or a portion of a new charge, will not be eligible to be moved to your Pay Over Time balance on your Closing Date if:

Qualifications & exceptions

• The Rates and Fees Table summarizes this as paying the balance in full "each month"; this section sets the more specific conditions.
• The two-statement condition and the zero-balance condition are alternatives (the list is joined by "or").
• Moving charges on the Closing Date is not automatic for every charge; Part 2 lists charges that are not eligible to be moved.

Cross-references

• qualifies (model-proposed): Interest-free period on automatic Pay Over Time charges depends on paying in full; cash advances accrue at once — The table's one-line summary of the interest-free rule (paying in full each month) is qualified by the grace-period section, which sets the specific conditions: a zero Pay Over Time Previous Balance, or full payment for each of the previous two billing periods.

Charges & Financial Obligations · Company practice

Pay Over Time Select purchases accrue interest from the date they are added until paid

For Pay Over Time Select, American Express charges interest on purchases added at your request to a Pay Over Time Select balance, from the date they are added to that balance until they are paid.

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.

Qualifications & exceptions

• This sentence does not repeat the interest-free conditions that apply to automatically added Pay Over Time charges.

Not stated here

• This section does not say what Pay Over Time Select is or how it is set up.

Charges & Financial Obligations · Context

A cash advance includes cash equivalents, foreign currency, digital currency and betting transactions

A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, and other offline and online betting transactions.

Details not recorded for this card

Supporting quotations

A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, and other offline and online betting transactions.

Qualifications & exceptions

• Whether a given transaction is a cash advance depends on this definition rather than on how a merchant describes it.

Cross-references

• defines (model-proposed): A cash advance fee is 5% of the advance, with a $10 minimum, and ATM operator fees count toward the base — The definition of a cash advance in Part 2 sets what the cash advance fee in Part 1 applies to.

Charges & Financial Obligations · User right or choice

Pay Over Time can be set active or inactive, and inactive-period purchases go to a balance due in full each month

If Pay Over Time is a feature of your Account, you may carry a balance with interest, up to your Pay Over Time Limit. It has two settings, active and inactive, which you can view or change at any time through your online account or by calling the number on the back of your Card. Purchases made and Annual Fees charged while Pay Over Time is inactive are added to your Pay In Full balance, which is due in full each month. Charges are added to the Pay Over Time balance as described in the rules that follow, which begin with the transaction date.

Details not recorded for this card

Supporting quotations

Pay Over Time: If Pay Over Time is a feature of your Account, you may carry a balance with interest, up to your Pay Over Time Limit. Pay Over Time has two settings: active and inactive. You can change or view your Pay Over Time setting at any time through your online account or by calling the number on the back of your Card. Purchases made and Annual Fees charged when Pay Over Time is set to inactive will be added to your Pay In Full balance, which will be due in full each month.

Charges will be added to your Pay Over Time balance as described below.

On the Transaction Date:

Charges & Financial Obligations · User right or choice

With a Pay Over Time balance you choose each month to pay in full, the minimum, or anything in between

If you have a Pay Over Time balance, you can choose each month to pay your Account Total New Balance in full, the Minimum Payment Due, or any amount in between.

Details not recorded for this card

Supporting quotations

If you have a Pay Over Time balance, you can choose each month to pay your Account Total New Balance in full, the Minimum Payment Due, or any amount in between.

Charges & Financial Obligations · Company practice

Eligible charges go to Pay Over Time if active at 8 p.m. ET on the merchant's transaction date, up to the limit

If Pay Over Time is set to active at 8 p.m. ET on the transaction date the merchant provides for an eligible charge, or on the date an eligible Annual Fee is charged, the charge is automatically added to your Pay Over Time balance, subject to your Pay Over Time Limit. If adding the entire charge would push the total of your Pay Over Time, Cash Advance and Plan balances over the Pay Over Time Limit, the charge goes to your Pay In Full balance instead. The merchant's transaction date may differ from the purchase date, for example because of a delay in submitting the transaction or because the merchant uses the shipping date. Charges with the same transaction date are added to Pay Over Time in any order American Express chooses.

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.

Charges will be added to your Pay Over Time balance as described below.

Qualifications & exceptions

• The merchant's transaction date, not the date you made the purchase, controls which setting applies.

Charges & Financial Obligations · Permission or license

On the Closing Date, eligible Pay In Full charges are moved to Pay Over Time if conditions are met, up to the limit

If on your Closing Date the total of your Pay Over Time, Cash Advance and Plan balances is less than your Pay Over Time Limit, Pay Over Time is set to active at 8 p.m. ET, and there are eligible new charges in your Pay In Full balance with a transaction date when Pay Over Time was set to active, you authorize American Express to automatically move all or a portion of those charges to your Pay Over Time balance, subject to your Pay Over Time Limit. If moving a charge would exceed the limit, a portion up to the limit is moved and the rest stays in the Pay In Full balance. Charges are moved in order of transaction date, and same-date charges in any order American Express chooses. Charges moved this way accrue interest from the day after they are added.

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.

we charge interest from the day after they are added to your Pay Over Time balance until they are paid.

Qualifications & exceptions

• The extracted text shows the list of three conditions with the number "2)" missing: condition 1 is in one block and the second condition ("Pay Over Time is set to active at 8 p.m. ET") appears at the start of the next block joined to "3)". This card reads them as three conditions.

Not stated here

• It is not stated what Pay Over Time "active at 8 p.m. ET" refers to on the Closing Date (the Closing Date itself or the charge's transaction date).

Charges & Financial Obligations · Restriction or exception

Listed charges, such as disputed or fraud-reported ones, are not moved to Pay Over Time on the Closing Date

A new charge, or a portion of one, will not be eligible to be moved to your Pay Over Time balance on your Closing Date if: it is subject to a Foreign Transaction Fee; it is disputed for a reason other than fraud and the dispute is not resolved in the billing period in which it was opened; it is reported as fraudulent and either was determined fraudulent in the billing period it posted or has not yet been determined in that billing period; you created a plan for it using Plan It; Pay Over Time is suspended on your Account; or your Account is cancelled or enrolled in a payment program.

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 transaction-date rule for eligible charges is separate.

Charges & Financial Obligations · Restriction or exception

Cash advances are not eligible for Pay Over Time, and American Express can suspend Pay Over Time at any time

Certain charges are not eligible for Pay Over Time, such as cash advances, and American Express may change which other charges are eligible. It may suspend Pay Over Time at any time based on its assessment of your creditworthiness, the status of your Account and/or your enrollment in a payment program. If your Account is past due or Pay Over Time is suspended, you cannot change your Pay Over Time setting from inactive to active.

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

• The reasons for suspension are listed in general terms and the agreement does not give thresholds or notice terms.

Not stated here

• The agreement does not say whether American Express will tell you before suspending Pay Over Time.

Charges & Financial Obligations · Restriction or exception

Pay Over Time Travel adds eligible travel purchases regardless of the setting; no re-enrollment after cancelling

If you have the Pay Over Time Travel feature, American Express automatically adds eligible travel-related purchases to your Pay Over Time Travel balance, subject to your Pay Over Time Limit, whether your Pay Over Time setting is active or inactive. If you request to cancel the Pay Over Time Travel feature, you will not be able to re-enroll.

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.

Not stated here

• The agreement does not say which purchases count as eligible travel-related purchases.

Charges & Financial Obligations · Permission or license

American Express may offer Plan It, which turns qualifying purchases into monthly payments for a fixed fee

American Express may offer Plan It, which lets you create a payment plan for qualifying purchases subject to a plan fee. The plan fee is a fixed finance charge charged each month that a plan is active. You can see the monthly plan payments, including the plan fee, before you select a plan, and plans cannot be cancelled once created, though you can pay them off early.

Details not recorded for this card

Supporting quotations

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

You will be able to view the monthly plan payments, including the plan fee, for your selection.

Plans cannot be cancelled after they have been created, but you can choose to pay them early by paying the Account Total New Balance shown on your most recent billing statement in full.

Qualifications & exceptions

• Further Plan It conditions are in the next section of Part 2.

Charges & Financial Obligations · Company practice

Up to the minimum, payments go to Pay In Full and low-rate balances first; above it, highest rate first

If your Account has balances with different interest rates, plan balances or plan fees, payments are generally applied in a set order. Up to the Minimum Payment Due, payments go first to the Pay In Full New Balance, then to any plan amounts included in the Minimum Payment Due, then to the Pay Over Time and/or Cash Advance New Balance, first to the balance with the lowest interest rate and then to higher-rate balances. After the Minimum Payment Due has been paid, payments go first to the Pay Over Time and/or Cash Advance balances with the highest interest rate, then to lower-rate balances, and then to any Plan balances.

Details not recorded for this card

Supporting quotations

How we apply payments and credits: Your Account may have balances with different interest rates. For example, purchases may have no interest rate or a lower interest rate than cash advances. Your Account may also have plan balances which are assessed plan fees. If your Account has balances with different interest rates, plan balances, or plan fees, here is how we generally apply payments in a billing period:

We apply your payments – up to the Minimum Payment Due – first to the Pay in Full New Balance; then to any plan amounts included in your Minimum Payment Due; and then to the Pay Over Time and/or Cash Advance New Balance, first to the balance with the lowest interest rate and then to balances with higher interest rates.

After the Minimum Payment Due has been paid, we apply payments first to the Pay Over Time and/or Cash Advance balances with the highest interest rate and then to balances with lower interest rates, and then to any Plan balances.

Qualifications & exceptions

• The wording is "generally apply", so this is the usual order rather than a fixed rule.

Charges & Financial Obligations · Company practice

Credits usually go to the balance of the related charge, with exceptions, and plan credits may need a phone call

In most cases a credit is applied to the same balance as the related charge. American Express may apply payments and credits within balances, and among balances with the same interest rate, in any order it chooses. If a balance is negative at the end of a billing period, the excess credit is redistributed to other balances under the payment order above, which means plan balances may sometimes be paid before they otherwise would be. If you receive a credit for a purchase added to a plan, you must call the number on the back of your Card to have the credit applied to the plan balance.

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.

Charges & Financial Obligations · Company practice

Interest is average daily balance times daily periodic rate times days, added up across each balance

American Express calculates interest for a billing period by first figuring the interest on each balance, because Pay Over Time and Cash Advance balances may have different rates. It uses the Average Daily Balance method (including new transactions) for each balance, and the total interest for the period is the sum across balances. Interest for a balance, except for rounding, equals the Average Daily Balance multiplied by the Daily Periodic Rate multiplied by the number of days in the billing period. The Average Daily Balance is the sum of the daily balances divided by the number of days in the billing period.

Details not recorded for this card

Supporting quotations

How we calculate interest on Pay Over Time and Cash Advance balances: We calculate interest for a billing period by first figuring the interest on each balance. Balances within the Pay Over Time feature and Cash Advance balances may have different interest rates. We use the Average Daily Balance method (including new transactions) to figure interest charges for each balance. The total interest charged for a billing period is the sum of the interest charged on each balance.

Interest: The interest charged for a balance in a billing period, except for variations caused by rounding, equals:

Average Daily Balance (ADB) multiplied by

Daily Periodic Rate (DPR) multiplied by

number of days in the billing period.

ADB: To get the ADB for a balance, we add up its daily balances. Then we divide the result by the number of days in the billing period.

Charges & Financial Obligations · Context

The daily periodic rate is 1/365th of an APR, but this published agreement shows no daily periodic rate values

A DPR (daily periodic rate) is 1/365th of an APR, rounded to one ten-thousandth of a percentage point. The agreement says "Your DPRs are shown in How Rates and Fees Work in Part 1." The publicly available agreement does not list any DPR: the How Rates and Fees Work section in Part 1 holds the Explanation of Variable Rates, Determining the Prime Rate, fees and limits, and the Rates and Fees Table gives APRs only as the Prime Rate plus a margin (some as a range).

Details not recorded for this card

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.

Daily Periodic Rate (DPR) multiplied by

Qualifications & exceptions

• Because the APRs are variable and given as a Prime Rate plus a margin, the published agreement gives no DPR values to apply.

Not stated here

• The DPRs for a particular Account are not shown in the published agreement and are not calculated or taken from another agreement here.

Cross-references

• defines (model-proposed): Variable APRs move with the Prime Rate, take effect at the start of the billing period, and are capped at 29.99% — The Part 2 definition of a DPR explains the "corresponding DPRs" mentioned in the variable rate explanation, while the published agreement shows no DPR values.

Charges & Financial Obligations · Context

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

The agreement's example assumes a single interest rate of 15.99%, an average daily balance of $2,250 and 30 days in the billing period. The DPR is 15.99% divided by 365 days, equal to 0.0438%. The interest is $2,250 multiplied by 0.0438% multiplied by 30 days, equal to $29.57.

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

Qualifications & exceptions

• The 15.99% rate is an assumption for the example and is not stated as a rate for this Card.

Charges & Financial Obligations · Company practice

Daily balances add new charges from the transaction date, but moved charges start the next day

The daily balance for each balance is the beginning balance for the day, plus any new charges, minus any payments or credits, with any appropriate adjustments. A new charge is added to a daily balance as of its transaction date, except charges automatically moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date, which are added as of the day after they are moved. If a daily balance is negative, it is treated as zero.

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.

we charge interest from the day after they are added to your Pay Over Time balance until they are paid.

Charges & Financial Obligations · Company practice

Interest compounds daily because unpaid interest is added to each day's starting balance

For the first day of a billing period, the beginning balance is the ending balance for the prior billing period, including unpaid interest. For the rest of the period, the beginning balance is the previous day's daily balance plus interest equal to that day's balance multiplied by the DPR. The agreement states that this method results in daily compounding of interest.

Details not recorded for this card

Supporting quotations

Beginning balance: For the first day of a billing period, the beginning balance is the ending balance for the prior billing period, including unpaid interest. For the rest of the billing period, the beginning balance is the previous day's daily balance plus an amount of interest equal to the previous day's daily balance multiplied by the DPR for that balance. This method of figuring the beginning balance results in daily compounding of interest.

Charges & Financial Obligations · Permission or license

American Express may use other equivalent methods and may choose not to charge interest on some charges

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

Details not recorded for this card

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 agreement does not say which types of charges might be left without interest.

Charges & Financial Obligations · Restriction or exception

You are responsible for everything charged by Additional Card Members and anyone they let use the Account

You are responsible for all use of your Account by Additional Card Members and anyone they allow to use your Account, and you must pay for all charges made.

Details not recorded for this card

Supporting quotations

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 · Company practice

AEEML converts foreign-currency charges to dollars at a rate it chooses, which can differ from the charge-date rate

If you make a charge in a foreign currency, AE Exposure Management Ltd. (AEEML) converts it into U.S. dollars on the date American Express or its agents process it, and you are billed in U.S. dollars at that conversion. Unless a particular rate is required by law, AEEML chooses a rate acceptable to American Express for that date. The rate is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day. That rate may differ from rates in effect on the date of your charge. Charges converted by establishments, such as airlines, are billed at the rates those establishments use.

Details not recorded for this card

Supporting quotations

Converting charges made in a foreign currency: If you make a charge in a foreign currency, AE Exposure Management Ltd. ("AEEML") will convert it into U.S. dollars on the date we or our agents process it, so that we bill you for the charge in U.S. dollars based upon this conversion. Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for that date. The rate AEEML uses is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day. This rate may differ from rates that are in effect on the date of your charge. We will bill charges converted by establishments (such as airlines) at the rates they use.

Qualifications & exceptions

• The Rates and Fees Table lists no Foreign Transaction fee, but this conversion rate applies separately.

Not stated here

• The agreement does not say how much the chosen rate can fall below the stated maximum.

Cross-references

• qualifies (model-proposed): The Rates and Fees Table lists no foreign transaction fee — The table's "Foreign Transaction: None" is qualified by the Part 3 conversion terms: there is no fee, but AEEML chooses the exchange rate.
• qualifies (model-proposed): No foreign transaction fee, but foreign charges are converted at a rate AEEML chooses — The no-foreign-fee line in How Rates and Fees Work is qualified by the Part 3 conversion terms.

Charges & Financial Obligations · User right or choice

Washington residents owe no interest caused solely by a delayed merchant credit or delayed posting by American Express

The Notice for residents of Washington State says that, in accordance with the Revised Code of Washington Statutes, Section 63.14.167, you are not responsible for interest charges that result solely from a merchant's failure to transmit to American Express a credit for goods or services accepted for return or forgiven within seven working days, if you have notified American Express of the merchant's delay in posting the credit, or from American Express's failure to post the credit to your Account within three working days of receiving it.

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

• The notice is addressed to residents of Washington State.
• It cites a Washington statute by number; the statute's text is not supplied here.

Not stated here

• What the cited Washington statute says beyond this notice is not part of this document.

Charges & Financial Obligations · Restriction or exception

You agree to pay reasonable collection costs including attorneys' fees

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

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 can close the Account by call or letter; the annual fee is refunded only if you close within 30 days

You may close your Account by calling or writing to American Express. If an Annual Fee applies, it will be refunded if you tell American Express you are voluntarily closing the Account within 30 days after the Closing Date of the billing statement on which that fee appears. For cancellations after that 30-day period, the Annual Fee is non-refundable. If your billing address is in the Commonwealth of Massachusetts when you close your Account, this policy will not apply to you.

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

• The Massachusetts sentence says the refund policy "will not apply" to Massachusetts billing addresses.

Not stated here

• The agreement does not say what rule applies to the annual fee instead for a Massachusetts billing address, so whether the fee would be refundable there is not stated.

Cross-references

• qualifies (model-proposed): The annual fee is $895 — The $895 annual fee is refundable only if the Account is voluntarily closed within 30 days after the Closing Date of the statement showing it, with a Massachusetts exception stated in Part 3.
• referred to by (model-proposed): You contact American Express to remove an Additional Card Member; fee refunds follow the Part 3 policy — The Additional Card fee refund policy is the Closing or suspending your Account policy in Part 3.

Charges & Financial Obligations · Permission or license

American Express may charge a $25 fee if it re-opens a cancelled Account at your request

If your Account is cancelled and American Express re-opens it at your request, it may charge you a $25 fee.

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.

Qualifications & exceptions

• Part 1 lists a $25 Account Re-opening fee (see that card).

Cross-references

• contrast (model-proposed): Re-opening a cancelled Account costs $25 — Part 1 lists the $25 re-opening fee as applying if the Account is cancelled, re-opened at your request and American Express does so; Part 3 says American Express "may charge" a $25 fee. The wording differs between permissive and fixed, and the document does not reconcile them.

Charges & Financial Obligations · Permission or license

Paying by check lets American Express make a one-time electronic debit, possibly same day, and keep the check

When you pay by check, you authorize American Express to use information from your check (such as routing number, account number and check serial number) to make a one-time electronic fund transfer from your bank or other asset account. Your payment may be withdrawn as soon as the same day American Express receives your check, and you will not receive the check back from your bank or financial institution. In certain circumstances it may process your payment as a check transaction.

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.

Charges & Financial Obligations · Restriction or exception

The Schwab Appreciation Bonus goes only to the Basic Card Member, once per year of Card Membership

The Schwab Appreciation Bonus is only available to the Basic Card Member on the Card Account. It is awarded based on either (1) the Basic Card Member's membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth, or (2) the Basic Card Member's Qualifying Schwab Holdings. A Basic Card Member may receive only one Schwab Appreciation Bonus each year of Card Membership.

Details not recorded for this card

Supporting quotations

Schwab Appreciation Bonus: This benefit is only available to the Basic Card Member on the Card Account and will be awarded based on either 1) the Basic Card Member’s membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth or 2) the Basic Card Member’s Qualifying Schwab Holdings, in each case as described below. Basic Card Members may only receive one Schwab Appreciation Bonus each year of Card Membership.

Not stated here

• The supplement does not say how a "year of Card Membership" is counted beyond the annual renewal month described in the measurement dates.

Charges & Financial Obligations · Company practice

Membership and holdings are measured only on two Measurement Dates each year

Membership in the listed Schwab programs, or Qualifying Schwab Holdings, is measured within five business days after (a) Card account approval and then (b) the first calendar day of your annual Card account renewal month. Each of these dates is a Measurement Date. Only holdings or membership as of each Measurement Date are evaluated for the bonus. To find your annual renewal month, you call the number on the back of the Card.

Details not recorded for this card

Supporting quotations

Your membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, Advisor Services Ultra-High Net Worth, or Qualifying Schwab Holdings will be measured within five business days after (a) Card account approval and then (b) the first calendar day of your annual Card account renewal month (each date, a "Measurement Date").

Only Qualifying Schwab Holdings, or membership in Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits or Advisor Services Ultra-High Net Worth programs, in each case as of each Measurement Date will be evaluated to determine eligibility for this benefit.

For information about your annual Card Account renewal month, please call the number on the back of your Card.

Qualifications & exceptions

• Holdings or membership on other days do not count under this wording.

Charges & Financial Obligations · Company practice

The bonus is a $100, $200 or $1,000 statement credit based on holdings, or $1,000 for program membership

If on a Measurement Date your Qualifying Schwab Holdings are at least $250,000 but under $1,000,000, you receive a $100 Card statement credit; at least $1,000,000 but under $10,000,000, $200; and $10,000,000 or more, $1,000. If you are a member of Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth, you receive a $1,000 Card statement credit.

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Supporting quotations

Schwab Appreciation Bonus Amounts: If on a Measurement Date either:

your Qualifying Schwab Holdings are:

a. equal to or greater than $250,000 and less than $1,000,000, you will receive a $100 Card statement credit; or

b. equal to or greater than $1,000,000 and less than $10,000,000, you will receive a $200 Card statement credit; or;

c. equal to or greater than $10,000,000, you will receive a $1,000 Card statement credit. or

you are a member of Schwab Private Wealth Services, Schwab Private Wealth Services Family Benefits, or Advisor Services Ultra-High Net Worth, you will receive a $1,000 Card statement credit.

Qualifications & exceptions

• Only one Schwab Appreciation Bonus can be received each year of Card Membership.
• Another section of the Agreement says American Express has the right to add, modify or remove any benefit, feature or service related to the Account at its discretion (see the Changing benefits card in Part 3).

Not stated here

• The supplement does not say which amount applies if a Card Member meets both a holdings tier and the membership condition on the same Measurement Date.
• No credit amount is listed for Qualifying Schwab Holdings below $250,000.

Cross-references

• qualified by (model-proposed): American Express can add, change or remove any benefit, feature or service at its discretion — The Schwab Appreciation Bonus amounts are subject to American Express's stated right to add, modify or remove any benefit, feature or service related to the Account at its discretion.

Charges & Financial Obligations · Company practice

The Schwab Appreciation Bonus may be taxable income and you are responsible for any taxes

The Schwab Appreciation Bonus may be taxable income and may be reported on Form 1099. You are responsible for any federal or state taxes resulting from it. The supplement suggests consulting a tax advisor with questions.

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The Schwab Appreciation bonus may be taxable income and may be reported on Form 1099. You are responsible for any federal or state taxes resulting from the Schwab Appreciation Bonus. Please consult your tax advisor if you have questions about the tax treatment of the Schwab Appreciation Bonus.

Charges & Financial Obligations · Context

Qualifying Schwab Holdings add up listed brokerage, retirement and Schwab Bank accounts plus Schwab Bank loan balances

Qualifying Schwab Holdings are the sum of the aggregate assets in listed non-retirement Schwab Brokerage account types (individual, joint, revocable living trusts where the grantor and trustee are the same, testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct and life estate accounts) where the Basic Card Member is an owner, grantor or trustee; plus listed retirement account types (Traditional IRAs, Roth and Roth Conversion IRAs and Rollover IRAs, excluding any managed by an independent investment advisor under a direct contractual relationship); plus listed Schwab Bank account types where the Basic Card Member is an owner or grantor (checking, savings, money market, certificate of deposit and pledged asset accounts); plus the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in the listed accounts are excluded.

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Supporting quotations

Qualifying Schwab Holdings are the sum of the following assets and obligations: the aggregate assets held in the following non-retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: individual, joint, revocable living trusts (where the grantor and trustee are the same), testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct, and life estate accounts; plus the aggregate assets held in the following retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: Traditional Individual Retirement Accounts ("IRAs"), Roth and Roth Conversion IRAs and Rollover IRAs, but excluding IRAs, Roth and Roth Conversion IRAs and Rollover IRAs that are managed by an independent investment advisor pursuant to a direct contractual relationship between the Basic Card Member and such independent investment advisor; plus the aggregate assets held in the following Schwab Bank Account types over which the Basic Card Member is an owner or grantor: checking, savings, money market, certificate of deposit, and pledged asset accounts; plus the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in accounts listed above are excluded.

Qualifications & exceptions

• As written, the Schwab Bank mortgage and home equity loan balances are added ("plus") to the total; the definition calls the components "assets and obligations" but does not explain how the loan balances are treated beyond that wording.

Not stated here

• The definition does not say whether holdings of Additional Card Members count; it refers only to the Basic Card Member.

Charges & Financial Obligations · Restriction or exception

The bonus can take up to 8 weeks to post and may be lost if the Card Account is cancelled or past due

American Express asks you to allow up to 8 weeks after each Measurement Date for the Schwab Appreciation Bonus to post to your Card account. If the Card Account is cancelled or past due when the statement credit is to be fulfilled, it may not qualify to receive the statement credit.

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Supporting quotations

Please allow up to 8 weeks after each Measurement Date for the Schwab Appreciation Bonus to be posted to your Card account. If the Card Account is cancelled or past due at the time of statement credit fulfillment, it may not qualify to receive a statement credit.

Qualifications & exceptions

• The wording is "may not qualify", so the supplement does not say the credit is always lost.

Charges & Financial Obligations · Procedure

Schwab statements and schwab.com show your account types and balances; Schwab answers holdings questions

Your Schwab Brokerage and Schwab Bank account types are described on your account statements at schwab.com (or schwaballiance.com for clients of independent investment advisors). You can view your Schwab Brokerage and Schwab Bank balances on the Account Summary page of schwab.com (or schwaballiance.com for clients of independent investment advisors). For questions about your Qualifying Schwab Holdings, you contact Schwab at 866-385-1227.

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Supporting quotations

Your Schwab Brokerage and Schwab Bank Account types are described on your account statements available at schwab.com (or schwaballiance.com for clients of independent investment advisors). You can view your Schwab Brokerage and Schwab Bank balances on the Account Summary page of schwab.com (or schwaballiance.com for clients of independent investment advisors).

For questions about your Qualifying Schwab Holdings, please contact Schwab at 866-385-1227.

Charges & Financial Obligations · Company practice

A Plan It plan fee depends on which balance the purchase was in when the plan is created

You create a plan by selecting qualifying purchases and a plan duration, and you can view the monthly plan payments, including the plan fee, before creating it. For a purchase in your Pay Over Time balance, the plan fee is based on the APR that would otherwise apply to it. For a purchase in your Pay In Full balance, it is based on the APR that applies to the Pay Over Time feature when you create the plan. For a purchase divided between the two balances because only part was moved on the Closing Date, it is based on the lower of those two APRs. The table caps the monthly fee at up to 1.33% of each purchase placed in a plan.

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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. If you create a plan for a purchase that is divided between your Pay Over Time and Pay In Full balances, because only a portion of that purchase was moved to your Pay Over Time balance on your Closing Date, the purchase will be added to a plan balance and will be subject to a plan fee based on either the APR that would otherwise apply (to the portion of the purchase that was in your Pay Over Time balance) or the APR that applies to the Pay Over Time feature at the time you create the plan, whichever is lower.

A monthly plan fee of up to 1.33% of each purchase placed in a plan

subject to a plan fee

Qualifications & exceptions

• The fee is described as a fixed finance charge that is charged each month a plan is active.

Not stated here

• The agreement does not state how the plan duration and "other factors" change the monthly percentage within the 1.33% maximum.

Charges & Financial Obligations · Restriction or exception

Only purchases of at least a set dollar amount qualify for Plan It, excluding cash, foreign-fee purchases and fees

A qualifying purchase for Plan It is a purchase of at least a specified dollar amount. Qualifying purchases do not include purchases of cash or cash equivalents, purchases subject to Foreign Transaction Fees, or any fee owed to American Express, such as Annual Fees.

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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 minimum dollar amount is not given in this agreement.

Charges & Financial Obligations · Restriction or exception

Whether you can create a plan depends on creditworthiness, limits and the status of your American Express Accounts

Your ability to create plans is based on a variety of factors such as your creditworthiness and your Pay Over Time Limit, and you may not be able to create a plan if it would make you exceed the Pay Over Time Limit. You cannot create plans if your Pay Over Time feature is suspended or your Account is cancelled, or if one or more of your American Express Accounts is enrolled in a payment program, has a payment returned unpaid, or is past due. American Express will tell you the number of active plans you may have and may change that number at any time. The plan durations offered, and whether you can include multiple qualifying purchases in one plan, are at its discretion based on factors such as creditworthiness, the purchase amounts and your Account history.

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Supporting quotations

Your ability to create plans will be based on a variety of factors such as your creditworthiness and your Pay Over Time Limit. You may not be able to create a plan if it would cause you to exceed your Pay Over Time Limit. You will not be able to create plans if your Pay Over Time feature is suspended or your Account is cancelled. You will also not be able to create plans if one or more of your American Express Accounts is enrolled in a payment program, has a payment that is returned unpaid, or is past due. We will tell you the number of active plans you may have, and we may change this number at any time. The plan durations offered to you, and your ability to include multiple qualifying purchases in a single plan, will be at our discretion and will be based on a variety of factors such as your creditworthiness, the purchase amount(s), and your Account history.

Qualifications & exceptions

• The payment-program, returned-payment and past-due conditions refer to any of your American Express Accounts, not only this Account.

Not stated here

• The agreement does not give the number of plans allowed or the available durations.

Charges & Financial Obligations · User right or choice

Plans cannot be cancelled once created, but you can pay one off early and stop future plan fees

Plans cannot be cancelled after they are created. You can choose to pay a plan early by paying the Account Total New Balance shown on your most recent billing statement in full, and if you pay a plan off early you will not incur any future plan fees on it.

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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.

Charges & Financial Obligations · Restriction or exception

The Pay Over Time Limit caps your Pay Over Time, Cash Advance and Plan balances but is not a spending limit

If you have Pay Over Time, American Express assigns a Pay Over Time Limit to your Account, shown on page 1 of Part 1 and on each billing statement. It applies to the total of your Pay Over Time, Cash Advance and Plan balances, and your Pay Over Time balance cannot exceed it. If adding a charge would exceed it, the charge goes to your Pay In Full balance. Delays in posting cash advances or plans can let the total exceed the limit. The limit is not a spending limit: American Express may approve or decline a charge whether your balance is above or below it. You must pay in full, by the Payment Due Date, all charges that are not added to a Pay Over Time, Cash Advance or Plan balance.

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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.

You must pay in full, by the Payment Due Date, all charges that are not added to a Pay Over Time, Cash Advance, or Plan balance.

Not stated here

• The Pay Over Time Limit amount is not given in this document, although the text says it is shown on page 1 of Part 1; the Part 1 text provided here lists no limit amount.

Charges & Financial Obligations · Permission or license

American Express may raise or lower the Pay Over Time Limit at any time, even if you pay on time

American Express may increase or reduce your Pay Over Time Limit at any time, even if you pay on time and your Account is not in default. It says it will tell you if it changes the limit.

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Supporting quotations

We may increase or reduce your Pay Over Time Limit at any time. We may do so even if you pay on time and your Account is not in default. We will tell you if we change your Pay Over Time Limit.

Not stated here

• The agreement does not say how far ahead of a change you will be told.

Charges & Financial Obligations · Company practice

You promise to pay all charges, including those made by Additional Card Members or others you permit

You promise to pay all charges added to your Account, including charges that you or your Additional Card Members make, or permit others to make, even if the Card is not presented or the transaction is not signed for. You must pay the Amount Due, or at least the Minimum Payment Due as applicable, on or before the Payment Due Date, in the time and manner shown on each billing statement.

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Supporting quotations

Promise to pay: You promise to pay all charges added to your Account, including charges that you or your Additional Card Members make, or permit others to make, even if you or they do not present the Card or sign for the transaction. When you must pay: You must pay the Amount Due, or at least the Minimum Payment Due, as applicable, on or before the Payment Due Date in the time and manner shown on each billing statement.

Charges & Financial Obligations · Procedure

Payments must be in U.S. dollars by check, negotiable instrument or electronic payment, with mailing rules

Payments must be made in U.S. dollars with a single check drawn on a U.S. bank, a single negotiable instrument clearable through the U.S. banking system (such as a money order), or an electronic payment that can be cleared through the U.S. banking system. When paying by mail, make a separate payment for each Account, mail it to the address on the payment coupon on your billing statement, and write your Account number on your check or negotiable instrument and include the payment coupon.

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Supporting quotations

How to make payments: Make payments to us in U.S. dollars with:

a single check drawn on a U.S. bank, or

a single negotiable instrument clearable through the U.S. banking system, for example a money order, or

an electronic payment that can be cleared through the U.S. banking system.

When making a payment by mail:

make a separate payment for each Account,

mail your payment to the address shown on the payment coupon on your billing statement, and

write your Account number on your check or negotiable instrument and include the payment coupon.

Charges & Financial Obligations · Company practice

A compliant payment is credited the day received; non-compliant payments can be delayed and cost fees and interest

If your payment meets the stated requirements, it is credited to your Account as of the day American Express receives it, as long as it arrives by the time and in the manner shown on your billing statement; if it arrives after that time, it is credited the day after receipt. If a payment does not meet the requirements, crediting may be delayed, which may result in late payment fees and additional interest charges.

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Supporting quotations

If your payment meets the above requirements, we will credit it to your Account as of the day we receive it, as long as we receive it by the time and in the manner disclosed in your billing statement. If we receive it after that time, we will credit the payment on the day after we receive it.

If your payment does not meet the above requirements, there may be a delay in crediting your Account. This may result in late payment fees and additional interest charges.

Not stated here

• The cut-off time and manner are set on the billing statement, not in this agreement.

Charges & Financial Obligations · Restriction or exception

Foreign-currency and non-U.S.-bank payments are refused, and accepting a late or partial payment waives nothing

American Express will not accept a payment made in a foreign currency or drawn on an account at a bank located outside the U.S. If it processes a late payment, a partial payment, or a payment marked with any restrictive language, that has no effect on its rights and does not change the Agreement.

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Supporting quotations

We will not accept a payment made in a foreign currency or a payment drawn on an account at a bank located outside of the U.S. If we process a late payment, a partial payment, or a payment marked with any restrictive language, that will have no effect on our rights and will not change this Agreement.