The Charles Schwab Investor Credit Card® from American Express Agreement

Charges & Financial Obligations · Company practice

Purchase APR is variable: Prime Rate plus 12.74% to 21.74%

The Rates and Fees Table gives the purchase APR as the Prime Rate plus a margin that runs from 12.74% to 21.74%, and calls it variable. The table sends the reader to "Explanation of Variable Rates" for how it changes. The table shows a range of margins rather than one rate, and it does not state the current Prime Rate.

Supporting quotations

Annual Percentage Rate (APR) for Purchases | Prime Rate + 12.74% to Prime Rate + 21.74%

This is a variable APR. See Explanation of Variable Rates below.

Qualifications & exceptions

• Variable APRs "will not exceed 29.99%" according to the Explanation of Variable Rates.
• Interest on purchases is not charged while the Account is in an Interest Free Period (see the grace-period cards).

Not stated here

• The source does not say what determines where within the 12.74% to 21.74% range a particular Account's margin falls.
• The source does not state the current Prime Rate, so it does not give a single APR figure.

Cross-references

• qualified by (model-proposed): Variable APRs rise with the Prime Rate and are capped at 29.99% — The cap on variable APRs and the effect of Prime Rate changes qualify the purchase APR range in the table.

Charges & Financial Obligations · Company practice

Cash advance APR is variable: Prime Rate plus 21.99%

The table gives the APR for cash advances as the Prime Rate plus 21.99%, and calls it variable. In Part 2, a "cash advance" is a charge to get cash or cash equivalents, and the list of examples includes travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, and other offline and online betting transactions, so these transactions are treated as cash advances rather than purchases.

Supporting quotations

APR for Cash Advances | Prime Rate + 21.99%

This is a variable APR. See Explanation of Variable Rates below.

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

• Interest on cash advances begins on the transaction date, and there is no Interest Free Period for them (see the paying-interest card).
• Variable APRs "will not exceed 29.99%" according to the Explanation of Variable Rates.

Not stated here

• The source does not state the current Prime Rate, so it does not give a single APR figure.

Cross-references

• defined by (model-proposed): Transaction definitions: cash advances include cash equivalents and betting; purchases include person-to-person — The Part 2 definition of a cash advance determines which transactions receive the cash advance APR.

Charges & Financial Obligations · Restriction or exception

Penalty APR: Prime Rate plus 26.74% on new transactions after a missed or returned payment

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

Supporting quotations

Penalty APR and When it Applies | Prime Rate + 26.74%

We have the right to apply the Penalty APR to new Transactions if:

you do not pay at least the Minimum Payment Due by the Payment Due Date; or

your payment is returned by your bank and we will notify you if we do.

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

Qualifications & exceptions

• The text says the Penalty APR applies to "new Transactions"; it does not say it applies to existing balances.
• The words "we will notify you if we do" appear at the end of the returned-payment trigger. The text does not say how or when notice is given, or whether the notice commitment also covers the missed-payment trigger.
• Variable APRs "will not exceed 29.99%" according to the Explanation of Variable Rates.

Not stated here

• The source does not define "timely payments" beyond the wording quoted.

Cross-references

• qualified by (model-proposed): Variable APRs rise with the Prime Rate and are capped at 29.99% — The same 29.99% cap applies to variable APRs generally; the Penalty APR is also described as a variable APR.

Charges & Financial Obligations · Company practice

Paying interest: due date, purchase grace period and cash advance interest

The table says the Due Date is at least 25 days after the close of each billing period. Interest is not charged on purchases if the entire balance is paid each month by the due date (or, with a plan outstanding, the balance adjusted for plans). Interest on cash advances starts on the transaction date, so cash advances do not get this grace period.

Supporting quotations

Your Due Date is at least 25 days after the close of each billing period.

We will not charge you interest on purchases if you pay each month your entire balance (or, if you have a plan outstanding, your balance adjusted for plans) by the due date.

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

Qualifications & exceptions

• The Part 1 section "When We Charge Interest (Grace Period)" gives more detail, including how an Interest Free Period starts and what happens to balance transfers.

Not stated here

• "Balance adjusted for plans" is not defined in the table; the later section calls it "Balance Adjusted for Plans (or Adjusted Balance)" without a formula.

Cross-references

• refers to (model-proposed): Interest Free Period: no interest on purchases if you pay the New Balance by the due date — The table summarizes the purchase grace period that Part 1 describes in more detail.

Charges & Financial Obligations · Company practice

Plan Fee: a monthly fixed finance charge of up to 1.33% on Plan It balances

When a purchase or an amount is moved into a Plan It payment plan, the Account is charged a Plan Fee each month the plan is active, instead of the purchase APR. The fee is up to 1.33% of each purchase or amount placed into the plan per month, and the exact figure depends on the plan duration, the APR that would otherwise apply, and other factors. The dollar amount is disclosed before a plan is set up. The text calls the fee a "fixed finance charge."

Supporting quotations

A monthly fee of up to 1.33% of each purchase or amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.

This fee is a fixed finance charge that will be charged each month that a plan is active. The dollar amount of your plan fee will be disclosed before you set up a plan.

will be subject to a plan fee instead of the APR for purchases

Qualifications & exceptions

• Plan It is something the company "may offer"; it is not guaranteed to every Account (see the Plan It cards from Part 2).

Not stated here

• "Other factors" that affect the plan fee are not listed.

Cross-references

• refers to (model-proposed): Plan It: a payment plan with a monthly plan fee instead of the purchase APR — The table and Fees section refer to Plan It in Part 2 for more on plan fees.

Charges & Financial Obligations · Context

The table points readers to the CFPB's credit card tips website

The table includes a pointer to the Consumer Financial Protection Bureau's website for credit card tips, for readers who want to learn about factors to consider when applying for or using a credit card.

Supporting quotations

To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.

Not stated here

• The linked website is not part of this document and was not supplied.

Charges & Financial Obligations · Company commitment

No annual fee, including for additional cards

The table lists the Annual Fee as None, and Part 1's Fees section repeats that the Annual Fee for Additional Cards is None.

Supporting quotations

Annual Fee | None

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

Annual Fee for Additional Cards: None.

Qualifications & exceptions

• Later sections that describe annual fee refunds apply only "If an Annual Fee applies," so they have no effect while the Annual Fee is None.

Cross-references

• qualified by (model-proposed): You can close the Account by call or letter; an annual fee is refundable only within 30 days (not in Massachusetts) — The annual fee refund rule applies only if an Annual Fee applies, which it does not while the Annual Fee is None.

Charges & Financial Obligations · Procedure

Where fees are added: to the purchase balance unless the company says otherwise

Part 1 says fees are added to the purchase balance unless the company tells you otherwise. The cash advance fee is one stated exception: it is added to the Cash Advance balance.

Supporting quotations

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

We will add this fee to the Cash Advance balance.

Not stated here

• The source does not say how the company will "tell you otherwise" for other fees.

Charges & Financial Obligations · Company practice

Cash advance fee: 5% of the advance (minimum $10), including ATM operator fees

The table says the cash advance fee is $10 or 5% of each cash advance, whichever is greater. Part 1 adds that the 5% is calculated on the cash advance transaction including any fees charged by the ATM operator, with a minimum of $10, and that the fee is added to the Cash Advance balance.

Supporting quotations

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

Cash Advance: 5% of the cash advance transaction (including fees charged by the ATM operator, if any), with a minimum of $10.

Qualifications & exceptions

• The table row lists the Cash Advance and Foreign Transaction fee labels together before their values; the Part 1 text states the cash advance fee separately and confirms the pairing.

Charges & Financial Obligations · Company practice

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

The table lists a foreign transaction fee of 2.7% of each transaction after conversion to US dollars. Part 1 says the same and refers to the "Converting charges made in a foreign currency" section in Part 2.

Supporting quotations

2.7% of each transaction after conversion to US dollars.

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

Qualifications & exceptions

• Plan It excludes purchases that are subject to Foreign Transaction Fees.

Charges & Financial Obligations · Company practice

Late payment fee: up to $40, starting at $29 and capped at the prior Minimum Payment Due

The table lists a late payment fee of up to $40. Part 1 explains the tiers: if the Minimum Payment Due is not received by its Payment Due Date, the 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 Minimum Payment Due on the prior billing statement.

Supporting quotations

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

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

Qualifications & exceptions

• The table row lists three penalty fee labels followed by three values in the same order; Part 1 confirms Late Payment is up to $40, Returned Payment up to $40, and Overlimit none.
• Penalty fees are added to the Minimum Payment Due.

Charges & Financial Obligations · Company practice

Returned payment fee: up to $40, starting at $29 and capped at the prior Minimum Payment Due

The table lists a returned payment fee of up to $40. Part 1 says that if a payment is returned unpaid the first time it is presented to your bank, the fee is $29. If it happens again within the same billing period or the next 6 billing periods, the fee is $40. The fee on a billing statement will not exceed the applicable Minimum Payment Due on the prior billing statement.

Supporting quotations

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

Qualifications & exceptions

• A returned payment is also one of the triggers for the Penalty APR.

Charges & Financial Obligations · Company practice

Returned check fee: $38, plus the unpaid amount

If you use your card to cash a check at one of the company's approved locations and the check is returned unpaid, the company charges $38 and also charges you the unpaid amount.

Supporting quotations

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

Not stated here

• The source does not list the approved locations where a card can be used to cash a check.

Charges & Financial Obligations · Company commitment

Overlimit fee: none

The table lists the Overlimit fee as None, and Part 1 repeats that and points to the Credit Limit and Cash Advance Limit section. That section says the company may approve charges that put the balance over the Credit Limit and in that case will not charge an overlimit fee.

Supporting quotations

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

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

Qualifications & exceptions

• Even with no overlimit fee, the Minimum Payment Due can include up to 1/24th of any overlimit amount (see the Minimum Payment Due card).

Cross-references

• qualified by (model-proposed): Going over the Credit Limit: the company may approve it with no overlimit fee, but can ask for the excess back — No overlimit fee is charged, but the Minimum Payment Due can still include up to 1/24th of any overlimit amount and the company can ask for the excess to be paid.

Charges & Financial Obligations · Company practice

Account re-opening fee: $25

The Fees section says an Account re-opening fee of $25 applies if the Account is cancelled, you ask the company to re-open it, and it does so.

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 describes the same fee with "may charge", which is less definite than "$25 if" in this section.

Cross-references

• contrast (model-proposed): You can close the Account by call or letter; an annual fee is refundable only within 30 days (not in Massachusetts) — The Fees section states a $25 re-opening fee; the Part 3 paragraph says the company "may charge" $25. The source does not reconcile the two wordings.

Charges & Financial Obligations · Procedure

Interest method: average daily balance, referring to Part 2

The table says interest is calculated with the average daily balance method and sends the reader to the "How we calculate interest" section in Part 2, which gives the actual formula.

Supporting quotations

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

Qualifications & exceptions

• Part 2 describes the method as including "new transactions", a wider term than the "new purchases" used here.

Charges & Financial Obligations · Company practice

Variable APRs rise with the Prime Rate and are capped at 29.99%

If the Prime Rate increases, variable APRs (and the corresponding daily rates) increase, so interest and the Minimum Payment Due may be higher. 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 changed. Variable APRs will not exceed 29.99%.

Supporting quotations

If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase. In that case, you may pay more interest and may have a higher Minimum Payment Due.

When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the billing period during which the Prime Rate has changed.

Variable APRs will not exceed 29.99%.

Qualifications & exceptions

• The sentence about effect on APRs is written for an increase; the next sentence applies to a change in the Prime Rate generally.

Not stated here

• The published agreement does not list the corresponding daily periodic rates (see the cards on the DPR reference in Part 2).

Cross-references

• qualifies (model-proposed): Purchase APR is variable: Prime Rate plus 12.74% to 21.74% — The cap on variable APRs and the effect of Prime Rate changes qualify the purchase APR range in the table.
• qualifies (model-proposed): Penalty APR: Prime Rate plus 26.74% on new transactions after a missed or returned payment — The same 29.99% cap applies to variable APRs generally; the Penalty APR is also described as a variable APR.

Charges & Financial Obligations · Procedure

Prime Rate means the highest U.S. Prime Rate 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 Journal does not publish it that day, the company uses the rate from the previous day it was published. If the Journal is no longer published or stops publishing the Prime Rate, the company may use the Prime Rate published in another newspaper of general circulation.

Supporting quotations

Prime Rate means the highest U.S. Prime Rate published in the rates section of The Wall Street Journal on the Closing Date of the billing period.

If The Wall Street Journal does not publish the Prime Rate on that day, we will use the Prime Rate from the previous day it was published.

we may use the Prime Rate published in another newspaper of general circulation.

Not stated here

• The source does not name the replacement newspaper, so which one the company would choose is unknown.

Charges & Financial Obligations · Company practice

Credit Limit and Cash Advance Limit: the company sets them and may change them at any time

The company assigns a Credit Limit to the Account and may make part of it available for cash advances (the Cash Advance Limit). There may also be a limit on ATM withdrawals in a given period. The company may increase or reduce either limit, even if you pay on time and the Account is not in default. You agree to manage the Account so that the total balance (including fees and interest) stays within the Credit Limit, the cash advance balance (including fees and interest) stays within the Cash Advance Limit, and the total of plan balances including plan fees is not more than the Credit Limit.

Supporting quotations

We assign a Credit Limit to your Account. We may make part of your Credit Limit available for cash advances (Cash Advance Limit). There may also be a limit on the amount you can withdraw from ATMs in a given period.

We may increase or reduce your Credit Limit and Cash Advance Limit. We may do so even if you pay on time and your Account is not in default. You agree to manage your Account so that:

your Account balance (including fees and interest) is not more than your Credit Limit, and

your cash advance balance (including fees and interest) is not more than your Cash Advance Limit

You agree to manage your Account so that the total of your plan balances (including plan fees) is not more than your Credit Limit.

Qualifications & exceptions

• The text says the limits are "shown on page 1 of Part 1 and on each billing statement."

Not stated here

• The actual Credit Limit, Cash Advance Limit and any ATM withdrawal limit are not given in this public text.
• The text does not say how much notice, if any, comes with a limit change.

Charges & Financial Obligations · Company practice

Going over the Credit Limit: the company may approve it with no overlimit fee, but can ask for the excess back

The company may approve charges that put the balance over the Credit Limit. If it does, it will not charge an overlimit fee. If the company asks you to promptly pay the part of the balance above the Credit Limit, you agree to do so. Separately, the Minimum Payment Due includes up to 1/24th of any overlimit amount.

Supporting quotations

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

up to 1/24th of any overlimit amount

Qualifications & exceptions

• The text says the company "may" approve such charges; it does not promise to.
• "Promptly" is not defined.

Cross-references

• qualifies (model-proposed): Overlimit fee: none — No overlimit fee is charged, but the Minimum Payment Due can still include up to 1/24th of any overlimit amount and the company can ask for the excess to be paid.

Charges & Financial Obligations · Restriction or exception

Person-to-person transactions are limited to $2,000 in any 30-day period

Person-to-person transactions may not exceed $2,000 within any 30-day period, and you agree to manage the Account so the total stays within that limit. The company may decline a person-to-person transaction that would take the Account over this limit or over the Credit Limit. A person-to-person transaction means a charge for funds sent to another person or a charge to add funds to an Amex Send Account.

Supporting quotations

Person-to-Person Limit: Your person-to-person transactions may not exceed $2,000 within any 30-day period. You agree to manage your Account so that the total of your person-to-person transactions in any 30-day period do not exceed the Person-to-Person Limit.

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

A person-to-person transaction is a charge for funds sent to another person or a charge to add funds to your Amex SendTM Account.

Qualifications & exceptions

• Under the Part 2 definitions a "purchase" includes person-to-person transactions, but person-to-person transactions are excluded from the eligible purchases that earn cash back.

Not stated here

• The text does not say how the 30-day period is measured (rolling or fixed).

Charges & Financial Obligations · Procedure

Minimum Payment Due: the highest of three amounts, plus fees, past-due amounts and plan payments

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

Supporting quotations

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

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

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

$40.

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

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

Qualifications & exceptions

• The exclusions in the first two bases differ: the first excludes interest as well, the second does not mention interest.
• Because the Minimum Payment Due will not exceed the New Balance, a New Balance under $40 caps the minimum at the New Balance.

Charges & Financial Obligations · Context

Worked example of the Minimum Payment Due (New Balance $2,900)

The example assumes a New Balance of $2,900, interest of $29.57, and no active plans, overlimit amount, penalty fees or past-due amounts. The three measures come to $58.27, $58 and $40; the highest, $58.27, is the Minimum Payment Due. The example says the Minimum Payment Due will be higher if the Account has active plans, an overlimit amount, penalty fees or amounts past due.

Supporting quotations

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

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

$58 (2% of $2,900)

$40

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

Qualifications & exceptions

• The figures are an illustration, not the amounts for any Account.

Charges & Financial Obligations · Company practice

Interest Free Period: no interest on purchases if you pay the New Balance by the due date

You are not charged interest on purchases while you are in an Interest Free Period. The Account enters one when you pay the New Balance shown on your statement by the Payment Due Date, or when it had no previous balance. When the Account is not in an Interest Free Period, interest on purchases is charged from the date of the transaction. After you enter an Interest Free Period again, interest may still appear on your next statement, reflecting interest from the start of that billing cycle through the date the payment was received. With an active Plan It plan, you can enter an Interest Free Period by paying at least the Balance Adjusted for Plans (or Adjusted Balance) by the Payment Due Date.

Supporting quotations

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

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

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

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

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

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

Qualifications & exceptions

• This applies to purchases; balance transfers and cash advances have no Interest Free Period.

Not stated here

• "Balance Adjusted for Plans (or Adjusted Balance)" is not defined with a formula.

Cross-references

• referred to by (model-proposed): Paying interest: due date, purchase grace period and cash advance interest — The table summarizes the purchase grace period that Part 1 describes in more detail.
• has exception (model-proposed): Balance transfers and cash advances are charged interest from the transaction date with no Interest Free Period — Balance transfers and cash advances are carved out of the Interest Free Period that applies to purchases.

Charges & Financial Obligations · Restriction or exception

Balance transfers and cash advances are charged interest from the transaction date with no Interest Free Period

Balance transfers and cash advances are charged interest from the date of the transaction and do not have an Interest Free Period, so paying the New Balance on time does not avoid interest on them.

Supporting quotations

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

Qualifications & exceptions

• Part 2 says balance transfers and cash advances are permitted only at the company's discretion, and that balances cannot be transferred from other accounts issued by the company or its affiliates.

Cross-references

• exception to (model-proposed): Interest Free Period: no interest on purchases if you pay the New Balance by the due date — Balance transfers and cash advances are carved out of the Interest Free Period that applies to purchases.

Charges & Financial Obligations · Company commitment

Cash back rate: 1.5% of eligible purchases per billing period

You receive cash back for eligible purchases made on the Card Account at 1.5% of the dollar amount of eligible purchases during a billing period. Eligible purchases are purchases for goods and services minus returns and other credits; they do not include fees or interest charges, cash advances, travelers checks, purchases or reloading of prepaid cards, cash equivalents including gift cards, or person-to-person transactions.

Supporting quotations

How you receive cash back: You will receive cash back for eligible purchases made on your Card Account. The cash back you receive is 1.5% of the dollar amount of eligible purchases during a billing period.

Eligible purchases do NOT include: fees or interest charges, cash advances, purchases of traveler's checks, purchases or reloading of prepaid cards, purchases of any cash equivalents, including gift cards, or person-to-person transactions.

Qualifications & exceptions

• Cash back is not earned for a billing period if the Minimum Payment Due is not paid by the Payment Due Date, and credits for eligible purchases reduce cash back (see the next section).

Cross-references

• qualified by (model-proposed): No cash back for a billing period if its Minimum Payment Due is not paid by the Payment Due Date — Cash back for a billing period is not paid if its Minimum Payment Due is not paid by the Payment Due Date.

Charges & Financial Obligations · Company practice

Cash back is calculated on eligible purchases net of returns and other credits

Eligible purchases are purchases on the Card Account for goods and services minus returns and other credits. Credits for eligible purchases reduce the amount of cash back you receive. Under the Part 2 definitions a "purchase" includes person-to-person transactions, but person-to-person transactions are listed among the things that are not eligible purchases.

Supporting quotations

Eligible purchases are purchases made on your Card Account for goods and services minus returns and other credits.

Credits for eligible purchases will reduce the amount of cash back you receive.

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

Qualifications & exceptions

• The list of what eligible purchases do not include (fees and interest, cash advances, travelers checks, prepaid cards, cash equivalents including gift cards, person-to-person transactions) is in the preceding section of the same supplement.

Charges & Financial Obligations · Restriction or exception

Promotional cash back offers carry their own terms, and the Account must not be cancelled or delinquent at fulfillment

From time to time the company may make promotional offers that include terms about how you can earn cash back. Those terms may differ from the standard cash back terms. Your Account must not be cancelled or delinquent when any offer is fulfilled.

Supporting quotations

From time to time, we may make promotional offers. These offers include terms about how you can earn cash back. These offer terms may differ from the terms above concerning cash back earned for charges to your Card Account. Your account must not be cancelled or delinquent at the time of fulfillment of any offers.

Not stated here

• "Delinquent" is not defined here.
• No specific promotional offer is described in this text.

Charges & Financial Obligations · Restriction or exception

No cash back for a billing period if its Minimum Payment Due is not paid by the Payment Due Date

You will not receive cash back on eligible purchases posted during a billing period if the Minimum Payment Due on the statement for that billing period is not paid by the Payment Due Date shown on that statement. This qualifies the 1.5% cash back rate.

Supporting quotations

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

The cash back you receive is 1.5% of the dollar amount of eligible purchases during a billing period.

Not stated here

• The text does not say whether cash back for that period is restored if the payment is made late.

Cross-references

• qualifies (model-proposed): Cash back rate: 1.5% of eligible purchases per billing period — Cash back for a billing period is not paid if its Minimum Payment Due is not paid by the Payment Due Date.

Charges & Financial Obligations · Company practice

Cash back is deposited by Charles Schwab into your eligible account about 6 to 8 weeks after the billing period

Charles Schwab, not the card issuer, deposits cash back into your eligible account approximately 6 to 8 weeks from the end of the billing period in which it is earned. An eligible account is a qualifying Schwab brokerage account or IRA as defined earlier in the supplement, and it is linked to the Card at the time the Card Account is approved. If you have several eligible Schwab accounts and want to change the linked account, you contact Charles Schwab.

Supporting quotations

Charles Schwab will deposit cash back into your eligible account approximately 6 to 8 weeks from the end of the billing period in which it is earned.

An eligible account will be linked to your Charles Schwab Investor Credit Card from American Express at time of Card Account approval. If you have multiple eligible Schwab accounts and would like to update your linked account, please contact Charles Schwab.

a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor

Qualifications & exceptions

• Timing is stated as "approximately".

Charges & Financial Obligations · Restriction or exception

Cash back not yet transferred may be lost if the Card Account is cancelled by either party

If the company or you cancel the Card Account for any reason, you may lose any cash back not already transferred to your eligible account. The label of this paragraph says "received cash back," but the sentence itself refers to cash back "not already transferred," so what is at risk according to the sentence is cash back not yet deposited. The company may also cancel the Card Account if you do not maintain an eligible account.

Supporting quotations

When you will forfeit received cash back: If we or you cancel your Card Account for any reason, you may lose any cash back not already transferred to your eligible account.

We may cancel your Charles Schwab Investor Credit Card® from American Express Card Account (Card Account) and participation in this program if you do not maintain an eligible account.

Qualifications & exceptions

• The text says "may lose", so it does not state that all untransferred cash back is always forfeited.

Not stated here

• The wording difference between "received" in the label and "not already transferred" in the sentence is not explained by the source.

Charges & Financial Obligations · Context

The statement's Cash Back Earnings Summary is informational and may show a negative balance

The cash back shown on the billing statement under Cash Back Earnings Summary is only for information and does not show the actual cash back you may be entitled to receive. A credit for eligible purchases can lower the amount, and if credits push eligible purchases into a negative status the summary shows a negative balance until eligible purchases exceed the negative amount.

Supporting quotations

The cash back shown on your billing statement under the heading Cash Back Earnings Summary is only for informational purposes. It does not show the actual cash back that you may be entitled to receive.

Also, if a credit to your Card Account places your eligible purchases in a negative status, the Cash Back Summary on your billing statement will show a negative balance. It will continue to show a negative balance until you accumulate eligible purchases exceeding the negative eligible purchases.

Charges & Financial Obligations · Restriction or exception

The company may change the rewards program terms at its discretion, and abuse can forfeit cash back

The company may change the terms of the rewards program at its discretion. If you violate the program terms or abuse the program, you may forfeit some or all of your cash back.

Supporting quotations

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

Not stated here

• "Abuse" is not defined in this text.
• The text does not say whether or how notice of a program change is given.

Charges & Financial Obligations · Context

Transaction definitions: cash advances include cash equivalents and betting; purchases include person-to-person

A charge is any amount added to the Account, including purchases, cash advances, balance transfers, fees and interest charges. A purchase is a charge for goods, services or person-to-person transactions. A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, and other offline and online betting transactions. A balance transfer is a charge to pay an amount owed on another credit card account. A person-to-person transaction is a charge for funds sent to another person or to add funds to an Amex Send Account. A plan is a portion of the balance selected to be paid over time in a set number of monthly payments using Plan It.

Supporting quotations

A charge is any amount added to your Account, such as purchases, cash advances, balance transfers, fees, and interest charges. A purchase is a charge for goods, services, or person-to-person transactions.

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

A balance transfer is a charge to pay an amount you owe on another credit card account. A person-to-person transaction is a charge for funds sent to another person or a charge to add funds to your Amex SendTM Account. A plan is a portion of your account balance that you have selected to pay over time through a set number of monthly payments using Plan It.

Qualifications & exceptions

• These definitions control which APR, fee and Interest Free Period rules apply to a transaction, because cash advances and balance transfers are treated differently from purchases.

Cross-references

• defines (model-proposed): Cash advance APR is variable: Prime Rate plus 21.99% — The Part 2 definition of a cash advance determines which transactions receive the cash advance APR.

Charges & Financial Obligations · Context

"Pay by a certain date" means the payment must be received and credited by that date

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

Supporting quotations

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

Qualifications & exceptions

• This means sending a payment is not enough; it counts only if received and credited by the date.

Cross-references

• defines (model-proposed): You promise to pay all charges, including those made by others you permit, by at least the Minimum Payment Due — The definition of paying by a date explains what the Payment Due Date requirement means.

Charges & Financial Obligations · Company practice

Plan It: a payment plan with a monthly plan fee instead of the purchase APR

The company may offer Plan It, which lets you create a payment plan for qualifying purchases or a qualifying amount, subject to a plan fee. You select the purchases or amount and a plan duration and can see the monthly plan payments, including the plan fee, before creating the plan. The plan fee is disclosed before you create the plan and is based on the plan duration, the APR that would otherwise apply, and other factors. The selected amount is added to a plan balance and is subject to the plan fee instead of the APR for purchases. The fee is a fixed finance charge charged each month a plan is active. You cannot create plans if your Account is cancelled.

Supporting quotations

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

You will be able to view the monthly plan payments, including the plan fee, for your selection. Each plan fee will be disclosed before you create the applicable plan and will be based on the plan duration, the APR that would otherwise apply to the purchase amount(s), and other factors.

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

You will not be able to create plans if your Account is cancelled.

Qualifications & exceptions

• Plan It is something the company "may offer"; whether it is offered to a given Account is at its discretion.
• Further limits on creating plans are in the next section.

Cross-references

• referred to by (model-proposed): Plan Fee: a monthly fixed finance charge of up to 1.33% on Plan It balances — The table and Fees section refer to Plan It in Part 2 for more on plan fees.

Charges & Financial Obligations · Restriction or exception

Plan It qualifying purchases: a minimum amount; cash, balance transfers, foreign-fee purchases and fees excluded

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

Supporting quotations

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

Not stated here

• The "specified dollar amount" and "specified portion" are not stated in this text.

Charges & Financial Obligations · Restriction or exception

Plan It eligibility depends on creditworthiness and limit, and is blocked by cancellation or payment problems

Your ability to create plans is based on factors such as creditworthiness and your Credit Limit. You cannot create plans if the Account is cancelled, if one or more of your American Express accounts is enrolled in a payment program, or has a payment returned unpaid or past due. The company tells you the number of active plans you may have and may change it at any time. The plan durations offered, and whether you can include several qualifying purchases in a single plan, are at the company's discretion based on factors such as creditworthiness, the purchase amounts and your Account history. You agree to manage the Account so that the total of your plan balances (including plan fees) is not more than your Credit Limit.

Supporting quotations

Your ability to create plans will be based on a variety of factors such as your creditworthiness and your Credit Limit. You will not be able to create plans if your Account is cancelled. You will also not be able to create plans if one or more of your American Express accounts is enrolled in a payment program, or has a payment that is returned unpaid, or is past due.

We will tell you the number of active plans you may have and we may change this number at any time. The plan durations offered to you, and your ability to include multiple qualifying purchases or a qualifying amount in a single plan, will be at our discretion and will be based on a variety of factors such as your creditworthiness, the purchase amount(s), and your Account history.

You agree to manage your Account so that the total of your plan balances (including plan fees) is not more than your Credit Limit.

At our discretion, we may permit you to create plans, make cash advances or balance transfers.

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

Qualifications & exceptions

• The restrictions refer to "one or more of your American Express accounts," not only this Account.

Not stated here

• The number of active plans allowed and the plan durations are not given in this text.
• "Payment program" is not defined here.

Charges & Financial Obligations · Procedure

Plans cannot be cancelled once created, but can be paid off early by paying the New Balance in full

Plans cannot be cancelled after they are created. You can pay a plan early by paying the New Balance shown on your most recent billing statement in full. If you pay a plan off early, you do not incur future plan fees on that plan.

Supporting quotations

Plans cannot be cancelled after they have been created but you can choose to pay them early by paying the New Balance shown on your most recent billing statement in full. If you pay a plan off early, you will not incur any future plan fees on that plan.

Not stated here

• The text does not say whether plan fees already charged are refunded when a plan is paid early.

Charges & Financial Obligations · User right or choice

You promise to pay all charges, including those made by others you permit, by at least the Minimum Payment Due

You promise to pay all charges added to the Account, including charges that you or your Additional Card Members make, or permit others to make, even if the Card is not presented or signed for. You must pay at least the Minimum Payment Due on or before the Payment Due Date, in the time and manner shown on each billing statement. You are responsible for all use of the Account by Additional Card Members and anyone they allow to use it.

Supporting quotations

You promise to pay all charges added to your Account, including charges that you or your Additional Card Members make, or permit others to make, even if you or they do not present the Card or sign for the transaction.

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

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.

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

Cross-references

• defined by (model-proposed): "Pay by a certain date" means the payment must be received and credited by that date — The definition of paying by a date explains what the Payment Due Date requirement means.

Charges & Financial Obligations · Procedure

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

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.

Supporting quotations

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

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

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

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

Charges & Financial Obligations · Procedure

Paying by mail: a separate payment per Account, to the coupon address, with the Account number and coupon

When paying by mail, make a separate payment for each Account, mail it to the address shown on the payment coupon on your billing statement, and write your Account number on the check or negotiable instrument and include the payment coupon.

Supporting quotations

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

Payment crediting: same day if requirements are met and received on time, otherwise the next day or delayed

If a payment meets the stated requirements, the company credits it to the Account as of the day it is received, as long as it is received by the time and in the manner disclosed on the billing statement. If it is received after that time, it is credited on 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.

Supporting quotations

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

If your payment does not meet the above requirements, there may be a delay in crediting your Account. This may result in late payment fees and additional interest charges (see the How Rates and Fees Work in Part 1).

Not stated here

• The specific cut-off time is not given here; the text says it is on the billing statement.

Charges & Financial Obligations · Restriction or exception

Foreign-currency and non-U.S.-bank payments refused; late, partial or conditional payments change nothing

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

Supporting quotations

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

Charges & Financial Obligations · Procedure

How payments are applied: minimum first to plans and the lowest-rate balance, the rest to the highest-rate balance first

The text says it "generally" applies payments as follows when the Account has balances at different rates, plan balances or plan fees. Payments up to the Minimum Payment Due go first to any plan amounts included in the Minimum Payment Due, then to the balance with the lowest interest rate, then to balances with higher rates. After the Minimum Payment Due is paid, payments go to the balance with the highest interest rate, then to lower-rate balances, and then to any plan balances.

Supporting quotations

Your Account may have balances with different interest rates. For example, purchases may have a lower interest rate than cash advances. Your Account may also have Plan balances which are assessed Plan fees. If your Account has balances with different interest rates, Plan balances, or Plan fees, here is how we generally apply payments in a billing period:

We apply your payments, up to the Minimum Payment Due, first to any Plan amounts included in your Minimum Payment Due, then to the balance subject to the lowest interest rate, and then to balances subject to higher interest rates.

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

Qualifications & exceptions

• The company says this is how it "generally" applies payments; the text does not say there are no other cases.

Charges & Financial Obligations · Procedure

Credits go to the matching balance; the company may order payments within a balance; a plan credit needs a call

In most cases a credit is applied to the same balance as the related charge, for example a purchase credit to the purchase balance. The company 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 be paid before they otherwise would. If you receive a credit for a purchase placed into a plan, you must call the number on the back of the Card to have the credit applied to the plan balance.

Supporting quotations

In most cases, we apply a credit to the same balance as the related charge. For example, we apply a credit for a purchase to the purchase balance. We may apply payments and credits within balances, and among balances with the same interest rate, in any order we choose.

If there is a negative balance in any balance on the account at the end of a billing period, that excess credit will be redistributed to other balances in accordance with how we apply payments described above. This means that in certain circumstances, Plan balances may get paid before they otherwise would.

If you receive a credit for a purchase placed into a plan, you must call us at the number on the back of your Card to have the credit applied to the Plan balance.

Charges & Financial Obligations · Procedure

Interest formula: Average Daily Balance times Daily Periodic Rate times days in the billing period

The company figures interest for each balance separately, because different categories and balances may have different rates, then adds them up. It uses the Average Daily Balance method, including new transactions. For each balance, interest equals the Average Daily Balance multiplied by the Daily Periodic Rate multiplied by the number of days in the billing period (apart from rounding). A DPR is 1/365th of an APR, rounded to one ten-thousandth of a percentage point.

Supporting quotations

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

We use the Average Daily Balance method (including new transactions) to figure interest charges for each balance. The total interest charged for a billing period is the sum of the interest charged on each balance.

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.

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

Not stated here

• The published agreement does not show the Daily Periodic Rates themselves (see the card on the DPR reference).

Cross-references

• qualified by (model-proposed): The published agreement does not show the Daily Periodic Rates it says it shows — The interest formula uses DPRs, which the published agreement says are shown in Part 1 but does not list.

Charges & Financial Obligations · Procedure

Average Daily Balance: the sum of daily balances divided by the days in the billing period

To get the Average Daily Balance for a balance, the company adds up its daily balances and divides the result by the number of days in the billing period. A Daily Periodic Rate is defined as 1/365th of an APR, rounded to one ten-thousandth of a percentage point.

Supporting quotations

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

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

Charges & Financial Obligations · Context

The published agreement does not show the Daily Periodic Rates it says it shows

Part 2 says "Your DPRs are shown in How Rates and Fees Work in Part 1." The How Rates and Fees Work section in Part 1 of this public agreement does not list any Daily Periodic Rate: it holds only the Explanation of Variable Rates, Determining the Prime Rate and Fees. The Rates and Fees Table gives APRs as the Prime Rate plus a margin (some as a range) and shows no DPR values. A DPR is defined in Part 2 as 1/365th of an APR. This analysis does not calculate DPR values from the APRs and does not take them from any other agreement or from a Card Member's own Part 1; the published text does not show them.

Supporting quotations

Your DPRs are shown in How Rates and Fees Work in Part 1.

How Rates and Fees Work

variable APRs (and corresponding DPRs) will increase

Qualifications & exceptions

• Because the DPR values are not in the public text, the interest formula (ADB multiplied by DPR multiplied by days) cannot be completed with numbers from this document alone.

Not stated here

• The actual DPR for each balance is not shown anywhere in this published agreement.
• Whether a Card Member's own copy of Part 1 lists DPRs is not stated.

Cross-references

• qualifies (model-proposed): Interest formula: Average Daily Balance times Daily Periodic Rate times days in the billing period — The interest formula uses DPRs, which the published agreement says are shown in Part 1 but does not list.

Charges & Financial Obligations · Context

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

The example assumes a single interest rate of 15.99%, an ADB of $2,250 and 30 days in the billing period. The DPR is 15.99% divided by 365, which equals 0.0438%, and the interest is $2,250 multiplied by 0.0438% multiplied by 30 days, which equals $29.57.

Supporting quotations

Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period. The DPR is 15.99% divided by 365 days equals 0.0438%

The Interest is $2,250 multiplied by 0.0438% multiplied by 30 days equals $29.57

Qualifications & exceptions

• The 15.99% rate is an illustration and is not stated to be a rate that applies to this Card.

Charges & Financial Obligations · Procedure

Daily balance: beginning balance plus new charges minus payments and credits; negative treated as zero

The company figures 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. A new charge is added as of its transaction date, and a negative daily balance is treated as zero.

Supporting quotations

Daily Balance: We figure the daily balance for each balance by:

taking the beginning balance for the day,

adding any new charges,

subtracting any payments or credits; and

making any appropriate adjustments.

We add a new charge to a daily balance as of its transaction date. If the daily balance is negative, we treat it as zero.

Not stated here

• The "appropriate adjustments" are not listed.

Charges & Financial Obligations · Company practice

Interest compounds daily

For the first day of a billing period, the beginning balance is the ending balance of 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 the previous day's interest (the previous day's daily balance multiplied by the DPR). The text states that this method results in daily compounding of interest.

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

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

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

Supporting quotations

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 types of charges on which the company might not charge interest are not identified.

Charges & Financial Obligations · User right or choice

Military Lending Act: a 36 percent APR cap for covered borrowers, counting certain fees and costs

The text says federal law protects members of the Armed Forces and their dependents in consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. That rate must include, as applicable to the credit transaction or Account, credit insurance premium costs, fees for ancillary products sold in connection with the credit transaction, any application fee (other than certain application fees), and any participation fee (other than certain participation fees for a credit card account).

Supporting quotations

Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent.

This rate must include, as applicable to the credit transaction or Account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or Accounts); and any participation fee (other than certain participation fees for a credit Card Account).

Qualifications & exceptions

• The text speaks "in general" and refers to "certain" fees without listing them.

Not stated here

• The text does not say how this cap applies to this Account's APRs or which fees are the excluded "certain" fees.

Charges & Financial Obligations · Company practice

Foreign currency charges are converted by AEEML at a rate no higher than the highest official or interbank rate

If you make a charge in a foreign currency, AE Exposure Management Ltd. ("AEEML") converts it into U.S. dollars on the date the company or its agents process it, and the company bills the charge in U.S. dollars based on that conversion. Unless a particular rate is required by law, AEEML chooses a conversion rate acceptable to the company 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. This 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. The 2.7% foreign transaction fee applies on the converted amount.

Supporting quotations

If you make a charge in a foreign currency, AE Exposure Management Ltd. ("AEEML") will convert it into U.S. dollars on the date we or our agents process it, so that we bill you for the charge in U.S. dollars based upon this conversion.

Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for that date. The rate AEEML uses is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day. This rate may differ from rates that are in effect on the date of your charge.

We will bill charges converted by establishments (such as airlines) at the rates they use.

Qualifications & exceptions

• The rate is described as "no more than" the highest official or interbank rate; the text does not say the rate equals either.

Not stated here

• The actual rate used for a given charge is not stated; the text says it is chosen by AEEML and "acceptable to us".

Charges & Financial Obligations · Context

Notice to Oregon residents: service charges not above legal limits, and you may pay more than the minimum at any time

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

Supporting quotations

Notice to Oregon Residents: Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month. You may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.

Qualifications & exceptions

• The notice is addressed to Oregon residents; the right to pay more than the Minimum Payment Due also appears in Part 1 without a state limit.

Charges & Financial Obligations · User right or choice

Washington State notice: no interest that results solely from delayed posting of a return credit

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

Supporting quotations

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

Qualifications & exceptions

• The notice applies to Washington State residents, covers interest that results "solely" from the delays described, and conditions the merchant-delay case on your having notified the company.

Not stated here

• The cited statute is outside this document and was not supplied; its text is not relied on here.
• The sentence does not say whether the notice requirement also applies to the company's own delay in posting a credit.

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 the company incurs to collect amounts you owe.

Supporting quotations

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

Not stated here

• The text does not say how such costs are billed.

Charges & Financial Obligations · Permission or license

Paying by check lets the company make a one-time electronic debit from your bank account, as soon as the same day

When you pay by check, you authorize the company 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 the company receives your check, and you will not receive the check back from your bank or financial institution. In certain circumstances, the company may process your payment as a check transaction.

Supporting quotations

When you pay us by check, you authorize us to use information from your check (such as routing number, account number and check serial number) to make a one-time electronic fund transfer from your bank or other asset account.

When we do this, your payment may be withdrawn from your bank or other asset account as soon as the same day we receive your check, and you will not receive that check back from your bank or financial institution. In certain circumstances, we may process your payment as a check transaction.

Not stated here

• The "certain circumstances" in which a check is processed as a check transaction are not described.