The Charles Schwab Investor Credit Card® from American Express Agreement

Legal Rights & Agreement Rules · Context

Version: dated as of 06/30/2026, issued by American Express National Bank

This is Part 1 of 3 of a Card Member Agreement for the Charles Schwab Investor Credit Card from American Express. The document gives itself an "As of" date of 06/30/2026 and names American Express National Bank as the issuer.

Supporting quotations

As of: 06/30/2026 Issuer: American Express National Bank

Charles Schwab Investor Credit Card® from American Express

Qualifications & exceptions

• The date is the document's own "As of" date. The text does not call it an effective date or say when it takes effect for any particular Card Member.

Not stated here

• This public text does not say whether a Card Member's own copy of Part 1 differs from it.

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.

Legal Rights & Agreement Rules · Context

The agreement is Parts 1, 2 and 3 plus supplements; a copy can be requested

Part 1, Part 2, Part 3 and any supplements or amendments make up the Card Member Agreement. A copy can be requested through the online account or by calling the number on the back of the Card.

Supporting quotations

Part 1, Part 2, Part 3 and any supplements or amendments make up your Card Member Agreement. You can request a copy of your Card Member Agreement through your online account or by calling the number on the back of your Card.

Not stated here

• Supplements or amendments other than the rewards supplement in this text are not supplied.

Legal Rights & Agreement Rules · Context

The rewards supplement points to pending changes at the end of the document

The Supplement to the Card Member Agreement tells the reader to look at the end of the document for any pending changes to the supplement.

Supporting quotations

Please refer to the end of this document for any pending changes to this Supplement to your Card Member Agreement.

Account & Service Control · Restriction or exception

Card availability depends on keeping an eligible Schwab account; the company may cancel the Card Account if you do not

The card is only available to you if you maintain an eligible account at Schwab. An eligible account means (1) a Schwab One or Schwab General Brokerage Account in your name or in the name of a revocable living trust where you are grantor and trustee, or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor under a direct contractual relationship with you. The company may cancel the Card Account and participation in the program if you do not maintain an eligible account. Eligibility is subject to change.

Supporting quotations

The Charles Schwab Investor Credit Card® from American Express is only available to you if you maintain an eligible account at Schwab.

An eligible account means either (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor. Eligibility is subject to change.

We may 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.

Not stated here

• The text does not say whether the company gives notice or time to restore an eligible account before cancelling.
• The criteria for the eligible account that "may change" are not stated.

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.

Legal Rights & Agreement Rules · Context

No pending updates to the rewards supplement are currently listed

Under the heading for important changes to the supplement, the document says that currently there are no updates.

Supporting quotations

Currently, there are no updates.

Qualifications & exceptions

• This reflects the document as of its "As of" date of 06/30/2026.

Legal Rights & Agreement Rules · User right or choice

Using the Card means you agree; you can cancel without fees if the Account is unused or unpaid

The Card Member Agreement is Part 1, Part 2 and Part 3 plus any supplements or amendments. When you use the Account, or sign or keep the Card, you agree to its terms. If you have not yet used the Account or made a payment on the Account after receiving a billing statement, you can cancel the Card without obligation to pay any fees.

Supporting quotations

Your Card Member Agreement: This document together with Part 1 and Part 3 make up the Card Member Agreement (Agreement) for the Account identified on page 1 of Part 1. Any supplements or amendments are also part of the Agreement. When you use the Account (or you sign or keep the Card), you agree to the terms of the Agreement.

If you have not yet used the Account or made a payment on the Account after receiving a billing statement, you can cancel your Card without obligation to pay any fees.

Part 1, Part 2, Part 3 and any supplements or amendments make up your Card Member Agreement.

Qualifications & exceptions

• The no-fees cancellation right is described only for a Card where the Account has not yet been used or a payment made.

Not stated here

• The sentence uses "or" between "used the Account" and "made a payment ... after receiving a billing statement"; it does not spell out whether the right ends once either has happened or only once both have.
• No time limit for this cancellation right is given in this sentence.

Legal Rights & Agreement Rules · Permission or license

The company may change the Agreement; oral changes do not count

The company may change the Agreement, subject to applicable law. The written Agreement is described as the final expression of the agreement governing the Account and cannot be modified or amended by any alleged oral agreement.

Supporting quotations

We may change this Agreement, subject to applicable law. This written Agreement is a final expression of the agreement governing the Account. The written Agreement may not be modified or amended by any alleged oral agreement.

Not stated here

• This sentence does not say how a change is notified, how much notice is given, or whether you can reject a change.

Legal Rights & Agreement Rules · Context

Key definitions: who "we" and "you" are, Primary and Additional Card Members, and what a Card is

"We, us, and our" mean the issuer shown on page 1 of Part 1. "You and your" mean the person who applied for the Account and for whom the Account was opened, called the Basic or Primary Card Member. You may request a Card for an Additional Card Member, and the company may issue additional Cards at your request. "Card" means any American Express Card or other device that the company issues to access the Account.

Supporting quotations

We, us, and our mean the issuer shown on page 1 of Part 1. You and your mean the person who applied for this Account and for whom we opened the Account. We will refer to you as either the Basic or Primary Card Member. You may request a Card for an Additional Card Member. Card means any American Express Card or other device that we issue to access your Account.

We may issue additional Cards on your Account at your request.

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.

Account & Service Control · Restriction or exception

The Card is for personal, family or household use only

You may use the Card to make charges and you agree to use it for personal, family or household purposes only.

Supporting quotations

You may use the Card to make charges.

You agree to use the Card for personal, family, or household purposes only.

Not stated here

• The text does not say what happens if the Card is used for other purposes.

Account & Service Control · Restriction or exception

Plans, cash advances and balance transfers are at the company's discretion; no transfers from its own accounts

The company may, at its discretion, permit you to create plans, make cash advances or make balance transfers. You cannot transfer balances from any other account issued by the company or its affiliates.

Supporting quotations

At our discretion, we may permit you to create plans, make cash advances or balance transfers. You cannot transfer balances from any other account issued by us or our affiliates.

Not stated here

• The text does not say which Accounts, if any, are currently offered balance transfers.

Sharing & Disclosure · User right or choice

Merchants may store Card details; the company may pass on updates and you can ask it not to

You may arrange for certain merchants and third parties to store your Card number and expiration date, for example so they can charge your Account at regular intervals. The company may, but is not required to, tell those merchants and third parties if your expiration date or Card number changes or if your Account status is updated, including if your Account is cancelled. If you do not want the company to share updated Account information, you can contact it at the number on the back of your Card.

Supporting quotations

You may arrange for certain merchants and third parties to store your Card number and expiration date, so that, for example the merchant may charge your Account at regular intervals; or you may make charges using that stored Card information.

We may (but are not required to) tell these merchants and third parties if your expiration date or Card number changes or if your Account status is updated, including if your Account is cancelled.

If you do not want us to share your updated Account information, please contact us using the number on the back of your Card.

Not stated here

• The text does not identify which merchants and third parties receive updates.

Security & Safeguards · User right or choice

Keep the Card safe, report loss or unauthorized use right away, and do not use it for illegal activities

You are told to keep the Card safe and not let anyone else use it. If the Card is lost or stolen or the Account is being used without your permission, you should contact the company right away. You may not use the Account for illegal activities.

Supporting quotations

Keep your Card safe and don't let anyone else use it. If your Card is lost or stolen or your Account is being used without your permission, contact us right away. You may not use your Account for illegal activities.

Not stated here

• This text does not describe your liability for unauthorized use.

Account & Service Control · Restriction or exception

The company may decline a charge for various reasons, even within the limit, and is not responsible for resulting losses

The company may decline to authorize a charge for various reasons, including suspected fraud or its assessment of your creditworthiness, even if the charge would not take you over the Credit Limit and even if the Account is not in default. It is not responsible for losses if it does not authorize a charge or if a merchant refuses to accept the Card.

Supporting quotations

We may decline to authorize a charge for various reasons, including if we suspect fraud or based on our assessment of your creditworthiness, even if the charge would not cause you to go over your Credit Limit and even if your Account is not in default.

We are not responsible for any losses you incur if we do not authorize a charge or if any merchant refuses to accept the Card.

Not stated here

• The reasons beyond fraud suspicion and creditworthiness are not listed.

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.

Legal Rights & Agreement Rules · User right or choice

Covered borrowers under the Military Lending Act: the arbitration provision does not apply to them

If you are a covered borrower under the Military Lending Act, the Arbitration provision of the Claims Resolution section does not apply to you in connection with this Account. The text adds: "However, if you elect arbitration, we will comply with our obligations under the Claims Resolution section of this Agreement." The document does not explain how those two sentences fit together, for example who may elect arbitration for a covered borrower or what happens when someone does. The paragraph also gives a number (855-531-0379) to hear this statement and a description of the payment obligation.

Supporting quotations

If you are a covered borrower under the Military Lending Act, the Arbitration provision of the Claims Resolution section of this Agreement will not apply to you in connection with this Account. However, if you elect arbitration, we will comply with our obligations under the Claims Resolution section of this Agreement.

To listen to this statement, as well as a description of your payment obligation for this Account, call us at 855-531-0379.

Not stated here

• The document does not define "covered borrower" beyond referring to the Military Lending Act.
• Whether a covered borrower or the company may elect arbitration, and the effect of doing so, is not explained beyond the quoted sentence.

Cross-references

• exception to (model-proposed): Either side may elect individual arbitration, which replaces court and jury trial — For a covered borrower under the Military Lending Act, the Arbitration provision does not apply.

Account & Service Control · Company practice

Additional Cards: issued at your request, usable under the Agreement, and their use may be reported to credit agencies

The company may issue additional Cards on your Account at your request. Additional Card Members can use the Account subject to the Agreement, and the company may report their use of the Account to credit reporting agencies. If an Annual Fee applies to Additional Cards, it is shown on page 2 of Part 1.

Supporting quotations

We may issue additional Cards on your Account at your request. Additional Card Members can use your Account subject to the terms of this Agreement and we may report their use of your Account to credit reporting agencies. If an Annual Fee applies to Additional Cards on your Account, it is shown on page 2 of Part 1 of this Agreement.

Qualifications & exceptions

• This Card's table and Fees section list the Annual Fee for Additional Cards as None.

Account & Service Control · User right or choice

You are responsible for Additional Card Members' use and authorize the company to share Account information with them

You are responsible for all use of the Account by Additional Card Members and anyone they allow to use it, and you must pay for all charges made. You authorize the company to give Additional Card Members information about your Account and to discuss it with them. You contact the company if you want to cancel an Additional Card Member's ability to use the Account. If an Annual Fee applies for an Additional Card, the refund policy in the Closing or suspending your Account section of Part 3 applies, and if a single Annual Fee applies to a group of Additional Cards, that policy applies when you cancel the Additional Card on which the fee was assessed.

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. You also authorize us to give Additional Card Members information about your Account and to discuss it with them.

Contact us if you want to cancel an Additional Card Member's ability to use your Account.

If a single Annual Fee applies for a group of Additional Cards on your Account, this policy will apply when you cancel the Additional Card on which the fee was assessed.

Qualifications & exceptions

• The annual fee refund policy applies only if an Annual Fee applies; the Annual Fee for Additional Cards on this Card is listed as None.

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".

Data Access & Collection · Company practice

Privacy Act of 1974: charge data from federal agencies is used for billing, collections, analysis and marketing

Some federal agencies may accept the Card under authority of statute. When you make charges at these agencies, the company collects certain charge information. That information may be put to routine uses such as processing, billing and collections, and may also be aggregated for reporting, analysis and marketing use. Other routine uses by agencies may be published in the Federal Register.

Supporting quotations

Privacy Act of 1974: Some federal agencies may accept the Card under authority of statute. When you make charges at these agencies, we collect certain charge information. That information may be put to routine uses such as processing, billing and collections. It may also be aggregated for reporting, analysis and marketing use. Other routine uses by agencies may be published in the Federal Register.

Qualifications & exceptions

• This applies to charges made at federal agencies that accept the Card.

Not stated here

• The specific charge information collected is described only as "certain charge information".

Sharing & Disclosure · Company practice

Insurance and other products: affiliates may be paid, and compensation may influence what the company tells you about

The company or its affiliates may tell you about insurance and non-insurance products, services or features that may have a fee. One of its affiliates may act on behalf of a provider of these products and may be compensated. The insurance products are not offered or sold by the company or on its behalf. Affiliates may get additional compensation when AMEX Assurance Company or another affiliate is the insurer or reinsurer. Compensation may influence what products and providers the company or its affiliates tell you about.

Supporting quotations

We or our affiliates may tell you about insurance and non-insurance products, services or features that may have a fee. One of our affiliates may act on behalf of a provider of these products. The affiliate may be compensated for this.

The insurance products are not offered or sold by us or on our behalf. Our affiliates may get additional compensation when AMEX Assurance Company or another affiliate is the insurer or reinsurer. Compensation may influence what products and providers we or our affiliates tell you about.

Not stated here

• The specific products and providers are not named, and compensation amounts are not stated.

Sharing & Disclosure · Company practice

The company may share information about you with affiliates to identify products, and may be paid for it

The company may share information about you with its affiliates so they can identify products that may interest you, and the company may be compensated for this information. Elsewhere you agree that credit report and other information may be used for any purposes, for example marketing to you.

Supporting quotations

We may share information about you with our affiliates so they can identify products that may interest you. We may be compensated for this information.

And you agree that we will use such information for any purposes (for example, marketing to you or evaluating you for a new account), subject to applicable law.

Not stated here

• The text does not say which information is shared, which affiliates receive it, or whether you can limit this sharing; any such choices would be in a separate privacy notice that is not part of this document.

Account & Service Control · Permission or license

The company may add, change or remove any benefit, feature or service at its discretion

The company has the right to add, modify or remove any benefit, feature or service included with or related to your Account at its discretion.

Supporting quotations

We have the right to add, modify or remove any benefit, feature or service included with or related to your Account at our discretion.

Not stated here

• The text does not say whether notice is given before a benefit is changed or removed.

Legal Rights & Agreement Rules · Permission or license

The company may sell or transfer the Agreement and Account without notice; you may not

The company may sell, transfer or assign the Agreement and your Account at any time without notifying you. You may not sell, assign or transfer your Account or any of your obligations under the Agreement.

Supporting quotations

We may sell, transfer or assign this Agreement and your Account. We may do so at any time without notifying you. You may not sell, assign or transfer your Account or any of your obligations under this Agreement.

Legal Rights & Agreement Rules · Company practice

Delay in enforcing rights is not a waiver of them

The company may choose to delay enforcing or not exercise its rights under the Agreement. If it does, it does not waive its rights to exercise or enforce them on any other occasion.

Supporting quotations

We do not waive our rights: We may choose to delay enforcing or to not exercise rights under this Agreement. If we do this, we do not waive our rights to exercise or enforce them on any other occasion.

Legal Rights & Agreement Rules · Company practice

Governing law: Utah and federal law; Maryland residents' accounts are offered under Maryland Commercial Law

Utah law and federal law govern the Agreement and the Account without regard to internal principles of conflicts of law. The Agreement states it was entered into with you in Utah, where the company is located and holds the Account. For Maryland residents (an Account with a Maryland billing address), the company elects to offer the Account under Title 12, Subtitle 9 of the Maryland Commercial Law Article, to the extent, if any, that Maryland law applies.

Supporting quotations

Utah law and federal law govern this Agreement and your Account without regard to internal principles of conflicts of law. We entered into this Agreement with you in Utah, where we are located and hold your Account.

Maryland residents: If your Account has a Maryland billing address, we elect to offer your Account pursuant to Title 12, Subtitle 9 of the Maryland Commercial Law Article to the extent, if any, that Maryland law applies to your Account.

Qualifications & exceptions

• The Maryland statement applies only to an Account with a Maryland billing address and "to the extent, if any" Maryland law applies.

Not stated here

• What Title 12, Subtitle 9 of the Maryland Commercial Law Article provides is not in this document.

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.

Legal Rights & Agreement Rules · User right or choice

Claims Resolution: call Customer Service first; arbitration can be rejected within 45 days of your first Card purchase

The section says most concerns can be resolved by calling Customer Service at the number on the back of the Card. If Customer Service cannot resolve a complaint, the section explains how claims can be resolved through mediation, arbitration or litigation, and it includes an arbitration provision. You may reject the arbitration provision by sending written notice within 45 days after your first Card purchase; the rejection must be mailed within that period and the detailed requirements appear in the Right to Reject Arbitration paragraph.

Supporting quotations

Most customer concerns can be resolved by calling our Customer Service Department at the number listed on the back of your Card. In the event Customer Service is unable to resolve a complaint to your satisfaction, this section explains how claims can be resolved through mediation, arbitration or litigation. It includes an arbitration provision.

You may reject the arbitration provision by sending us written notice within 45 days after your first Card purchase.

Your rejection notice must be mailed within 45 days after your first Card purchase.

Qualifications & exceptions

• The rejection window runs from the first Card purchase; the text does not say it extends if there is no purchase.

Legal Rights & Agreement Rules · Context

In this section, "you" and "us" include corporate parents, subsidiaries, affiliates and related persons

For the Claims Resolution section, "you" and "us" include any corporate parents, subsidiaries, affiliates or related persons or entities.

Supporting quotations

For this section, you and us includes any corporate parents, subsidiaries, affiliates or related persons or entities.

Not stated here

• "Related persons or entities" is not defined.

Legal Rights & Agreement Rules · Context

What counts as a "Claim": almost any dispute about the Account, the Agreement or your relationship with the company

"Claim" means any current or future claim, dispute or controversy relating to your Account(s), the Agreement, or any agreement or relationship you have or had with the company, except for the validity, enforceability or scope of the Arbitration provision. It includes initial claims, counterclaims, crossclaims and third-party claims; claims based on contract, tort, fraud, statute, regulation, common law and equity; claims by or against any third party using or providing any product, service or benefit in connection with any account; and claims arising from or relating to any account created under any of the agreements or its balances, advertisements, promotions or statements related to accounts, goods or services financed under any account, benefits and services related to Card Membership (including fee-based or free benefit programs, enrollment services and rewards programs), and your application for any account. You may not sell, assign or transfer a claim.

Supporting quotations

Claim means any current or future claim, dispute or controversy relating to your Account(s), this Agreement, or any agreement or relationship you have or had with us, except for the validity, enforceability or scope of the Arbitration provision.

(1) initial claims, counterclaims, crossclaims and third-party claims; (2) claims based upon contract, tort, fraud, statute, regulation, common law and equity; (3) claims by or against any third party using or providing any product, service or benefit in connection with any account; and

(4) claims that arise from or relate to (a) any account created under any of the agreements, or any balances on any such account, (b) advertisements, promotions or statements related to any accounts, goods or services financed under any accounts or terms of financing, (c) benefits and services related to Card Membership (including fee-based or free benefit programs, enrollment services and rewards programs) and (d) your application for any account. You may not sell, assign or transfer a claim.

Qualifications & exceptions

• Claims about the validity, enforceability or scope of the Arbitration provision itself are carved out of the definition of a Claim.

Not stated here

• The text does not say who decides questions about the validity, enforceability or scope of the Arbitration provision, since they are excluded from the definition of Claim.

Legal Rights & Agreement Rules · Procedure

Before suing, mediating or arbitrating, send a written claim notice describing the claim and the relief demanded

Before beginning a lawsuit, mediation or arbitration, you and the company agree to send a written claim notice to each party against whom a claim is asserted, to give an opportunity to resolve the claim informally or through mediation. A sample notice is at americanexpress.com/claim. The notice must describe the claim and state the specific relief demanded. Notice to you may be provided by your billing statement or sent to your billing address. Notice to the company must include your name, address and Account number and be sent to American Express ADR c/o CT Corporation System, 28 Liberty Street, New York, New York 10005. If the claim proceeds to arbitration, the amount of relief demanded in a claim notice is not disclosed to the arbitrator until after the arbitrator rules.

Supporting quotations

Before beginning a lawsuit, mediation or arbitration, you and we agree to send a written notice (a claim notice) to each party against whom a claim is asserted, in order to provide an opportunity to resolve the claim informally or through mediation.

The claim notice must describe the claim and state the specific relief demanded. Notice to you may be provided by your billing statement or sent to your billing address. Notice to us must include your name, address and Account number and be sent to American Express ADR c/o CT Corporation System, 28 Liberty Street, New York, New York 10005.

If the claim proceeds to arbitration, the amount of any relief demanded in a claim notice will not be disclosed to the arbitrator until after the arbitrator rules.

Not stated here

• The text does not say how long the parties must wait after a claim notice before starting a lawsuit or arbitration.

Legal Rights & Agreement Rules · User right or choice

Mediation: either side may use JAMS or AAA within 30 days after a claim notice, and the company pays the mediator

In mediation, a neutral mediator helps the parties reach agreement but does not decide the claim. A claim notice must be sent first. Within 30 days after sending or receiving a claim notice, you or the company may submit the claim to JAMS or the American Arbitration Association for mediation, and the company pays the mediator's fees. Mediation communications are confidential, inadmissible in court and not subject to discovery. Statutes of limitation are tolled from the date the claim notice is sent until the mediation ends, either party may end mediation at any time, and submitting or not submitting a claim to mediation does not affect the right to elect arbitration.

Supporting quotations

Within 30 days after sending or receiving a claim notice, you or we may submit the claim to JAMS (1-800-352-5267, jamsadr.com) or the American Arbitration Association ("AAA") (1-800-778- 7879, adr.org) for mediation. We will pay the fees of the mediator.

All mediation-related communications are confidential, inadmissible in court and not subject to discovery.

All applicable statutes of limitation will be tolled from the date you or we send the claim notice until termination of the mediation. Either you or we may terminate the mediation at any time. The submission or failure to submit a claim to mediation will not affect your or our right to elect arbitration.

Legal Rights & Agreement Rules · Restriction or exception

Either side may elect individual arbitration, which replaces court and jury trial

You or the company may elect to resolve any claim by individual arbitration, decided by a neutral arbitrator. If arbitration is chosen by any party, neither you nor the company has the right to litigate that claim in court or have a jury trial on that claim. The company says it will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. Otherwise either side may elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered.

Supporting quotations

You or we may elect to resolve any claim by individual arbitration. Claims are decided by a neutral arbitrator.

If arbitration is chosen by any party, neither you nor we will have the right to litigate that claim in court or have a jury trial on that claim.

We will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. You or we may otherwise elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered.

Qualifications & exceptions

• The small claims carve-out limits only the company's election and only while the claim is individual and pending only in small claims court.
• Unless you reject the arbitration provision within 45 days after your first Card purchase, it applies to you.

Cross-references

• has exception (model-proposed): Covered borrowers under the Military Lending Act: the arbitration provision does not apply to them — For a covered borrower under the Military Lending Act, the Arbitration provision does not apply.
• has exception (model-proposed): Small claims court carve-out, timing of the election to arbitrate, and no waiver by delay — The company will not elect arbitration for an individual claim pending only in small claims court.
• qualified by (model-proposed): How to reject arbitration: a signed notice mailed within 45 days, which also covers your other open accounts — Arbitration applies unless it is rejected by a compliant notice mailed within 45 days of the first Card purchase.

Legal Rights & Agreement Rules · Restriction or exception

Arbitration limits: no class or representative participation, more limited discovery, and very limited review

If arbitration is chosen, you and the company will not have the right to participate in a representative capacity or as a member of any class for a claim subject to arbitration. Arbitration procedures are generally simpler than in court, and discovery is more limited. The arbitrator's authority is limited to claims between you and the company alone, and claims may not be joined or consolidated unless both agree in writing. An award and any judgment confirming it apply only to the specific case and cannot be used in any other case except to enforce the award. The arbitrator's decisions are as enforceable as any court order and are subject to very limited review by a court. Except as set forth in the appeal provisions below, the decision is final and binding, and other rights you or the company would have in court may also not be available. If any portion of the Limitations on Arbitration is held invalid or unenforceable, the entire Arbitration provision (other than that sentence) does not apply.

Supporting quotations

Further, you and we will not have the right to participate in a representative capacity or as a member of any class pertaining to any claim subject to arbitration. Arbitration procedures are generally simpler than the rules that apply in court, and discovery is more limited.

The arbitrator's authority is limited to claims between you and us alone. Claims may not be joined or consolidated unless you and we agree in writing. An arbitration award and any judgment confirming it will apply only to the specific case and cannot be used in any other case except to enforce the award.

The arbitrator's decisions are as enforceable as any court order and are subject to very limited review by a court. Except as set forth below, the arbitrator's decision will be final and binding. Other rights you or we would have in court may also not be available in arbitration.

if any portion of these Limitations on Arbitration is deemed invalid or unenforceable, then the entire Arbitration provision (other than this sentence) will not apply.

Qualifications & exceptions

• These limits apply to claims actually sent to arbitration; they do not apply to a claim you keep in court because arbitration was not elected or was rejected.

Not stated here

• The text says "Other rights you or we would have in court may also not be available" without listing them.

Legal Rights & Agreement Rules · Procedure

Starting arbitration: claim notice first, then JAMS or AAA chosen by the electing party

Before beginning arbitration, a claim notice must first be sent. Claims are referred to either JAMS or AAA, as selected by the party electing arbitration, and are resolved under the Arbitration provision and the selected organization's rules in effect when the claim is filed, except where those rules conflict with the Agreement. If the company chooses the organization, you may select the other within 30 days after receiving notice of the company's selection. Claims may also be referred to another arbitration organization if you and the company agree in writing, or to an arbitrator appointed under section 5 of the Federal Arbitration Act, 9 U.S.C. sec. 1-16.

Supporting quotations

Before beginning arbitration, you or we must first send a claim notice. Claims will be referred to either JAMS or AAA, as selected by the party electing arbitration.

Claims will be resolved pursuant to this Arbitration provision and the selected organization's rules in effect when the claim is filed, except where those rules conflict with this Agreement. If we choose the organization, you may select the other within 30 days after receiving notice of our selection.

Claims also may be referred to another arbitration organization if you and we agree in writing or to an arbitrator appointed pursuant to section 5 of the Federal Arbitration Act, 9 U.S.C. sec. 1-16 (FAA).

Not stated here

• The sentence "If we choose the organization, you may select the other within 30 days" does not say what happens to the claim once you select the other organization.
• The Federal Arbitration Act provision cited is outside this document and was not supplied.

Legal Rights & Agreement Rules · Restriction or exception

Small claims court carve-out, timing of the election to arbitrate, and no waiver by delay

The company will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court. Otherwise you or the company may elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered. Either side may delay enforcing or not exercise rights under the Arbitration provision, including the right to arbitrate, without waiving the right to exercise or enforce them.

Supporting quotations

We will not elect arbitration for any claim you file in small claims court, so long as the claim is individual and pending only in that court.

You or we may otherwise elect to arbitrate any claim at any time unless it has been filed in court and trial has begun or final judgment has been entered.

Either you or we may delay enforcing or not exercise rights under this Arbitration provision, including the right to arbitrate a claim, without waiving the right to exercise or enforce those rights.

Qualifications & exceptions

• The small claims carve-out limits only the company's election and only while the claim is individual and pending only in small claims court.

Cross-references

• exception to (model-proposed): Either side may elect individual arbitration, which replaces court and jury trial — The company will not elect arbitration for an individual claim pending only in small claims court.

Legal Rights & Agreement Rules · Restriction or exception

Limitations on Arbitration: individual basis only, with no class or representative arbitration

If either party elects arbitration, the claim will be arbitrated on an individual basis. There is no right or authority for any claims to be arbitrated on a class action basis or on bases involving claims brought in a purported representative capacity on behalf of the general public, other Card Members or other persons similarly situated.

Supporting quotations

Limitations on Arbitration: If either party elects to resolve a claim by arbitration, that claim will be arbitrated on an individual basis. There will be no right or authority for any claims to be arbitrated on a class action basis or on bases involving claims brought in a purported representative capacity on behalf of the general public, other Card Members or other persons similarly situated.

Qualifications & exceptions

• This applies to a claim for which arbitration has been elected.

Legal Rights & Agreement Rules · Restriction or exception

If a Limitation on Arbitration is held invalid, the entire arbitration provision falls away

Notwithstanding any other provision, and without waiving the right to appeal that decision, if any portion of the Limitations on Arbitration is deemed invalid or unenforceable, then the entire Arbitration provision (other than this sentence) will not apply.

Supporting quotations

Notwithstanding any other provision and without waiving the right to appeal such decision, if any portion of these Limitations on Arbitration is deemed invalid or unenforceable, then the entire Arbitration provision (other than this sentence) will not apply.

Qualifications & exceptions

• The rest of the Claims Resolution section has its own severability sentence in the Continuation paragraph, which excepts this Limitations on Arbitration provision.

Legal Rights & Agreement Rules · Procedure

Arbitration procedures: the FAA governs, substantive law applies, and court discovery and evidence rules do not

The Arbitration provision is governed by the Federal Arbitration Act. The arbitrator applies applicable substantive law, statutes of limitations and privileges, but not federal or state rules of civil procedure or evidence in matters relating to evidence or discovery. Subject to the Limitations on Arbitration, the arbitrator may otherwise award any relief available in court. At your election, arbitration hearings take place in the federal judicial district of your residence. Judgment upon any award may be entered in any court having jurisdiction.

Supporting quotations

This Arbitration provision is governed by the FAA. The arbitrator will apply applicable substantive law, statutes of limitations and privileges. The arbitrator will not apply any federal or state rules of civil procedure or evidence in matters relating to evidence or discovery. Subject to the Limitations on Arbitration, the arbitrator may otherwise award any relief available in court.

Judgment upon any award may be entered in any court having jurisdiction. At your election, arbitration hearings will take place in the federal judicial district of your residence.

Legal Rights & Agreement Rules · Restriction or exception

Arbitration is confidential, with an exception for notifying government authorities

You and the company agree that the arbitration will be confidential and that neither will disclose the content of the arbitration proceeding or its outcome to anyone, but either may notify any government authority of the claim as permitted or required by law.

Supporting quotations

You and we agree that the arbitration will be confidential. You and we agree that we will not disclose the content of the arbitration proceeding or its outcome to anyone, but you or we may notify any government authority of the claim as permitted or required by law.

Not stated here

• The text does not say whether a party may discuss the arbitration with its own advisers or in a later court proceeding to enforce the award.

Legal Rights & Agreement Rules · User right or choice

For claims of $10,000 or less, you choose documents only, a telephone hearing or an in-person hearing

If your claim is for $10,000 or less, you may choose whether the arbitration will be conducted solely on the basis of documents, through a telephonic hearing, or by an in-person hearing. At any party's request, the arbitrator will provide a brief written explanation of the award.

Supporting quotations

If your claim is for $10,000 or less, you may choose whether the arbitration will be conducted solely on the basis of documents, through a telephonic hearing, or by an in-person hearing. At any party's request, the arbitrator will provide a brief written explanation of the award.

Legal Rights & Agreement Rules · Procedure

Appeal: notify within 35 days; a three-arbitrator panel decides anew on written submissions

The arbitrator's award is final and binding, subject to each party's right to appeal as stated in the section and/or to challenge or appeal an award under the Federal Arbitration Act. To start an appeal, a party must notify the arbitration organization and all parties in writing within 35 days after the arbitrator's award is issued. The arbitration organization appoints a three-arbitrator panel to decide anew, by majority vote based on written submissions, any aspect of the decision objected to. The appeal otherwise proceeds under the arbitration organization's appellate rules.

Supporting quotations

The arbitrator's award will be final and binding, subject to each party's right to appeal as stated in this section and/or to challenge or appeal an arbitration award pursuant to the FAA.

To initiate an appeal, a party must notify the arbitration organization and all parties in writing within 35 days after the arbitrator's award is issued. The arbitration organization will appoint a three-arbitrator panel to decide anew, by majority vote based on written submissions, any aspect of the decision objected to. The appeal will otherwise proceed pursuant to the arbitration organization's appellate rules.

Not stated here

• The text does not say who pays for an appeal panel; the arbitration fee paragraph refers only to arbitration fees generally.

Legal Rights & Agreement Rules · User right or choice

Arbitration fees: your share is capped at a court filing fee; a minimum $5,000 award if you beat the final offer

You are responsible for your share of any arbitration fees (including filing, administrative, hearing or other fees), but only up to the amount of the filing fees you would have incurred if you had brought the claim in court. The company is responsible for any additional arbitration fees. At your written request, the company will consider in good faith making a temporary advance of your share of fees, or paying for the reasonable fees of an expert appointed by the arbitrator for good cause. If the arbitrator rules in your favor for an amount greater than any final offer the company made before the final hearing, the award will include any money to which you are entitled, but in no case less than $5,000, and any reasonable attorneys' fees, costs and expert and other witness fees.

Supporting quotations

You will be responsible for paying your share of any arbitration fees (including filing, administrative, hearing or other fees), but only up to the amount of the filing fees you would have incurred if you had brought a claim in court. We will be responsible for any additional arbitration fees.

At your written request, we will consider in good faith making a temporary advance of your share of any arbitration fees, or paying for the reasonable fees of an expert appointed by the arbitrator for good cause.

If the arbitrator rules in your favor for an amount greater than any final offer we made before the final hearing in arbitration, the arbitrator's award will include:

(1) any money to which you are entitled, but in no case less than $5,000; and (2) any reasonable attorneys' fees, costs and expert and other witness fees.

Qualifications & exceptions

• The advance of fees or payment of an expert is only something the company will "consider in good faith", not a commitment to do.

Legal Rights & Agreement Rules · User right or choice

How to reject arbitration: a signed notice mailed within 45 days, which also covers your other open accounts

You may reject the Arbitration provision by sending a written rejection notice to American Express, P.O. Box 981556, El Paso, TX 79998. A sample is at americanexpress.com/reject. The notice must be mailed within 45 days after your first Card purchase, state that you reject the Arbitration provision, and include your name, address, Account number and personal signature; no one else may sign it. If it complies, this Arbitration provision and any other arbitration provisions in the Card Member agreements for any other currently open American Express accounts you have will not apply to you, except for Corporate Card accounts and any claims subject to pending litigation or arbitration when you send the notice. Rejecting does not affect your other rights or responsibilities under the Claims Resolution section or the Agreement, or your ability to use your Card or any other benefit, product or service with your Account.

Supporting quotations

You may reject this Arbitration provision by sending a written rejection notice to us at: American Express, P.O. Box 981556, El Paso, TX 79998.

Your rejection notice must be mailed within 45 days after your first Card purchase. Your rejection notice must state that you reject the Arbitration provision and include your name, address, Account number and personal signature. No one else may sign the rejection notice.

If your rejection notice complies with these requirements, this Arbitration provision and any other arbitration provisions in the Card Member agreements for any other currently open American Express accounts you have will not apply to you, except for Corporate Card accounts and any claims subject to pending litigation or arbitration at the time you send your rejection notice.

Rejection of this Arbitration provision will not affect your other rights or responsibilities under this Claims Resolution section or the Agreement. Rejecting this Arbitration provision will not affect your ability to use your Card or any other benefit, product or service you may have with your Account.

Qualifications & exceptions

• The rejection must be mailed within 45 days after the first Card purchase and must follow the stated content requirements.

Cross-references

• qualifies (model-proposed): Either side may elect individual arbitration, which replaces court and jury trial — Arbitration applies unless it is rejected by a compliant notice mailed within 45 days of the first Card purchase.

Legal Rights & Agreement Rules · Company practice

The Claims Resolution section survives account closure, payoff, collection, bankruptcy and sale of the Account

The Claims Resolution section survives termination of your Account, voluntary payment of your Account balance, any legal proceeding to collect a debt, any bankruptcy and any sale of your Account; if the Account is sold, its terms apply to the buyer. If any portion of the section, except as otherwise provided in the Limitations on Arbitration subsection, is deemed invalid or unenforceable, it does not invalidate the remaining portions.

Supporting quotations

Continuation: This section will survive termination of your Account, voluntary payment of your Account balance, any legal proceeding to collect a debt, any bankruptcy and any sale of your Account (in the case of a sale, its terms will apply to the buyer of your Account).

If any portion of this Claims Resolution section, except as otherwise provided in the Limitations on Arbitration subsection, is deemed invalid or unenforceable, it will not invalidate the remaining portions of this Claims Resolution section.

Legal Rights & Agreement Rules · Company practice

Notices are sent by mail, courier or electronically and count as given when mailed or delivered

The company sends notices by U.S. mail, courier, or electronically using the information in its records. It considers a notice given when it mails it or delivers it electronically.

Supporting quotations

We send notices by U.S. mail, courier, or electronically using the information in our records. We consider a notice given when we mail it or deliver it electronically.

Qualifications & exceptions

• A notice counts as given when sent, not when received.

Use & Processing · Permission or license

You authorize the company, affiliates and agents to contact you by call, text, email or push, incl. automated dialers

To service the account or collect amounts you owe, you authorize the company, its affiliates, agents and contractors (such as debt collection agencies and service providers) to contact you at any phone number or email address you provide, from which you contact the company, or at which the company believes it can reach you. Contact may be by calling, texting, emailing, mobile application push notifications or any other method permitted by law. The company may use an automated dialer or prerecorded messages and may contact you on a mobile, wireless or similar device even if you are charged for it.

Supporting quotations

If we need to contact you to service your account or to collect amounts you owe, you authorize us (and our affiliates, agents and contractors, such as debt collection agencies and service providers) to contact you at any phone number or email address you provide, from which you contact us, or at which we believe we can reach you.

We may contact you in any way, such as calling, texting, emailing, sending mobile application push notifications or using any other method of communication permitted by law. We may contact you using an automated dialer or prerecorded messages. We may contact you on a mobile, wireless or similar device, even if you are charged for it.

Qualifications & exceptions

• The authorization is stated for servicing the account or collecting amounts owed, and methods are limited to those "permitted by law".

Not stated here

• The text does not say how to withdraw this authorization or limit the contact methods.

Data Access & Collection · Company practice

The company may monitor and record calls

The company may monitor and record any calls between you and it.

Supporting quotations

We may monitor and record any calls between you and us.

Not stated here

• The text does not say how long recordings are kept or what they are used for.

Account & Service Control · User right or choice

You must notify the company immediately of changes to your address, email or phone, for each Account

You must notify the company immediately if you change your mailing address, email address or telephone number. If you have more than one Account you need to notify it separately for each Account. The company may update your billing address if it receives information that it has changed or is incorrect.

Supporting quotations

You must notify us immediately if you change your mailing address, email address, or telephone number. If you have more than one Account, you need to notify us separately for each Account. We may update your billing address if we receive information that it has changed or is incorrect.

Not stated here

• The source of the information the company may use to update a billing address is not specified.

Legal Rights & Agreement Rules · Restriction or exception

If the company credits a disputed charge, you transfer your claims against the merchant to it

If you dispute a charge with a merchant, the company may credit the Account for all or part of the disputed charge. If it does, you assign and transfer to the company all rights and claims (excluding tort claims) against the merchant. You agree not to pursue any claim against the merchant for the credited amount, and you must cooperate with the company if it decides to pursue it.

Supporting quotations

If you dispute a charge with a merchant, we may credit the Account for all or part of the disputed charge. If we do so, you assign and transfer to us all rights and claims (excluding tort claims) against the merchant. You agree that you will not pursue any claim against the merchant for the credited amount. And you must cooperate with us if we decide to do so.

Qualifications & exceptions

• Tort claims are excluded from the transfer.

Not stated here

• The sentence "you must cooperate with us if we decide to do so" does not say what "do so" refers to, though it follows the sentence about not pursuing claims against the merchant.

Data Access & Collection · Permission or license

Credit reports: the company may pull reports, verify income, use the information broadly, and report your Account

You agree that the company will obtain credit reports about you, investigate your ability to pay, and obtain information about you from other sources, including to verify and re-verify your employment and income. You agree that it will use that information for any purposes (for example marketing to you or evaluating you for a new account), subject to applicable law. You agree that it will give information about the Account to credit reporting agencies and will tell a credit reporting agency if you fail to comply with the Agreement, which may negatively affect your credit report. If you believe information given to a credit reporting agency is incorrect, you can write to the American Express Credit Bureau Unit at the address given and state the specific information you believe is incorrect.

Supporting quotations

You agree that we will obtain credit reports about you, investigate your ability to pay, and obtain information about you from other sources including information to verify and re-verify your employment and income. And you agree that we will use such information for any purposes (for example, marketing to you or evaluating you for a new account), subject to applicable law.

You agree that we will give information about the Account to credit reporting agencies. We will tell a credit reporting agency if you fail to comply with the terms of this Agreement. This may have a negative impact on your credit report.

If you believe information we have given to a credit reporting agency is incorrect, write to us at: American Express Credit Bureau Unit, P.O. Box 981537, El Paso, TX 79998-1537. When you write to us, tell us the specific information you believe is incorrect.

Qualifications & exceptions

• Use "for any purposes" is subject to applicable law.

Not stated here

• The "other sources" of information are not identified, and the frequency of credit checks is not stated.

Legal Rights & Agreement Rules · Restriction or exception

Default: the company may treat the Account as in default on rule breaks, false information, bankruptcy or doubts

The company may consider the Account to be in default if you violate a provision of the Agreement, give false information, file for bankruptcy, default under another agreement with the company or an affiliate, or if the company believes you are unable or unwilling to pay your debts when due.

Supporting quotations

Default: We may consider your Account to be in default if:

you violate a provision of this Agreement,

you give us false information,

you file for bankruptcy,

you default under another agreement you have with us or an affiliate, or

we believe you are unable or unwilling to pay your debts when due.

Qualifications & exceptions

• The last ground rests on the company's belief, not on a missed payment.

Not stated here

• Provisions of "this Agreement" that sit in supplements or amendments not included in this source text are not supplied here, so the card cannot say what they require.

Legal Rights & Agreement Rules · Permission or license

On default, incapacity or death the company may suspend, cancel and demand the full balance

If the company considers the Account in default, or if you become incapacitated or die, it may, to the extent permitted by federal and applicable state law, suspend your ability to make charges, cancel or suspend any feature on the Account, require you to pay more than the Minimum Payment Due immediately, and require you to pay the whole Account balance immediately.

Supporting quotations

If we consider your Account in default, or if you become incapacitated or die, we may, to the extent permitted by federal and applicable state law:

suspend your ability to make charges,

cancel or suspend any feature on your Account,

require you to pay more than your Minimum Payment Due immediately, and

require you to pay your Account balance immediately.

Qualifications & exceptions

• Each action is limited "to the extent permitted by federal and applicable state law".

Charges & Financial Obligations · Restriction or exception

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

You agree to pay all reasonable costs, including attorneys' fees, that 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.

Legal Rights & Agreement Rules · Permission or license

The company may cancel or suspend the Account at any time for any reason; you still owe all charges

The company may, at any time and for any reason, cancel your Account, suspend your ability to make charges, or cancel or suspend any feature on your Account. If it does, you must still pay for all charges under the Agreement. If it later agrees to reinstate the Account, it may reinstate additional Cards issued on the Account and charge you any applicable annual fees and a fee to reinstate the Account.

Supporting quotations

We may, at any time and for any reason: cancel your Account, suspend your ability to make charges, cancel or suspend any feature on your Account. If we do any of these, you must still pay us for all charges under the terms of this Agreement. If we later agree to reinstate your Account, we may reinstate any additional Cards issued on your Account and charge you any applicable annual fees and a fee to reinstate the Account.

Not stated here

• The amount of the reinstatement fee is not stated in this sentence; the Fees section lists an Account re-opening fee of $25.

Account & Service Control · User right or choice

You can close the Account by call or letter; an annual fee is refundable only within 30 days (not in Massachusetts)

You may close the Account by calling or writing to the company. If an Annual Fee applies, the company refunds it if you notify it that you are voluntarily closing the Account within 30 days after the Closing Date of the billing statement on which that fee appears. After that 30-day period the Annual Fee is non-refundable. If your billing address is in the Commonwealth of Massachusetts when you close the Account, this refund policy does not apply to you. If the Account is cancelled and the company re-opens it at your request, it may charge a $25 fee.

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.

If your account is cancelled and we re-open it at your request, we may charge you a $25 fee.

Qualifications & exceptions

• This Card's Annual Fee is listed as None, so the refund rule applies only if an Annual Fee applies.
• The Fees section lists the Account re-opening fee as $25; this paragraph says the company "may charge" $25.

Cross-references

• qualifies (model-proposed): No annual fee, including for additional cards — The annual fee refund rule applies only if an Annual Fee applies, which it does not while the Annual Fee is None.
• contrast (model-proposed): Account re-opening fee: $25 — 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 · 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.