Marriott Bonvoy® American Express® Card Agreement

Charges & Financial Obligations · Company practice

Purchase and cash advance APRs (variable, Prime Rate plus a margin)

The Annual Percentage Rate for purchases is stated as the Prime Rate plus 12.74% up to the Prime Rate plus 21.74%, and the APR for cash advances is the Prime Rate plus 21.99%. Both are variable APRs, so the rate moves with the Prime Rate as explained under Explanation of Variable Rates. The table gives each APR as Prime Rate plus a margin; it does not give a fixed percentage.

Supporting quotations

Prime Rate + 12.74% to Prime Rate + 21.74%

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

Prime Rate + 21.99%

Qualifications & exceptions

• The purchase APR is shown as a range; the table does not say which point in the range applies to a given account.
• A cash advance is defined in Part 2 and can include more than cash; see the cash advance fee card for that definition.

Not stated here

• The agreement does not state how the margin within the purchase APR range is chosen for a particular Card Member.
• The agreement does not list Daily Periodic Rate (DPR) values for these APRs (see the interest calculation card in Part 2).

Charges & Financial Obligations · Restriction or exception

Penalty APR: when it applies and how long it lasts

The table states a Penalty APR of the Prime Rate plus 26.74%, also variable. The company says it has 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 if your payment is returned by your bank (and it says it will notify you if it does). If applied, it applies for at least 6 months; the company will review the Account every 6 months after that, and the penalty APR continues until you have made timely payments with no returned payments during the 6 months being reviewed.

Supporting quotations

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 wording is "We have the right to apply": applying the Penalty APR is the company's choice, not stated as automatic.
• The table says it applies to new Transactions; it does not say it applies to existing balances.

Charges & Financial Obligations · Company practice

How variable APRs change with the Prime Rate; 29.99% cap

If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase, which can mean more interest and a higher Minimum Payment Due. Changes caused by a Prime Rate change take effect as of the first day of the billing period during which the Prime Rate changed. Variable APRs will not exceed 29.99%. The Prime Rate is the highest U.S. Prime Rate published in the rates section of The Wall Street Journal on the Closing Date of the billing period; if it is not published that day, the company uses the rate from the previous day it was published, and if The Wall Street Journal stops publishing it, the company may use the Prime Rate published in another newspaper of general circulation.

Supporting quotations

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

When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the billing period during which the Prime Rate has changed. Variable APRs will not exceed 29.99%.

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

If The Wall Street Journal is no longer published or stops publishing the Prime Rate, we may use the Prime Rate published in another newspaper of general circulation.

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

Qualifications & exceptions

• The Closing Date is the last day of the billing period shown on each statement (Part 2 definition).

Not stated here

• The text mentions corresponding DPRs, but the published agreement does not list any DPR values.

Charges & Financial Obligations · Company practice

Paying interest: due date, grace period and cash advances

The table says your Due Date is at least 25 days after the close of each billing period. You are not charged interest on purchases if you pay your entire balance each month by the due date, or, if you have a plan outstanding, your balance adjusted for plans. Interest on cash advances begins on the transaction date. A Plan It plan changes what you must pay to be interest-free: with an active 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

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.

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.

Qualifications & exceptions

• The no-interest statement is about purchases; cash advances are charged interest from the transaction date.
• Part 1 explains the grace period further under "When We Charge Interest (Grace Period)".

Charges & Financial Obligations · Company practice

Plan Fee (fixed finance charge) for Plan It

A Plan Fee is a fixed finance charge of up to 1.33% per month of each purchase or amount moved into a plan, set by the plan duration, the APR that would otherwise apply to the purchase and other factors. It is charged each month that a plan is active. The dollar amount of the plan fee is disclosed before you set up a plan, and the purchases or amount in a plan are subject to a plan fee instead of the APR for purchases. For more information the agreement points to About Plan It Feature in Part 2.

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.

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

• "Up to 1.33%" is a ceiling; the actual percentage depends on factors the agreement does not fully list ("and other factors").

Not stated here

• The agreement does not list the "other factors" that set the plan fee.

Charges & Financial Obligations · Company practice

Annual Fee: $95; none for additional cards

The Annual Fee is $95. The Annual Fee for Additional Cards is None. The How Rates and Fees Work section points back to the Rates and Fees Table for the Annual Fee amount. Part 3 separately addresses whether the annual fee is refunded if you close the account.

Supporting quotations

$95

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

Annual Fee for Additional Cards: None.

Qualifications & exceptions

• Refund treatment of the Annual Fee on closing the Account is covered in Part 3 (Closing or suspending your Account).

Charges & Financial Obligations · Company practice

Cash advance fee: greater of $10 or 5%

A cash advance carries a fee of either $10 or 5% of the cash advance, whichever is greater. The fee is 5% of the cash advance transaction, including any fees charged by the ATM operator, with a minimum of $10, and the company adds the fee to the Cash Advance balance. In Part 2, 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.

Supporting quotations

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

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

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

• Cash advances also have their own APR and begin accruing interest on the transaction date (see the interest cards).

Charges & Financial Obligations · Company practice

Foreign Transaction fee: None

The Foreign Transaction fee is listed as None in both the table and the fee explanations. This is a statement about the fee only; how foreign-currency charges are converted into U.S. dollars is described separately in Part 3.

Supporting quotations

None

Foreign Transaction: None.

Qualifications & exceptions

• "None" applies to the Foreign Transaction fee; conversion of foreign-currency charges by AE Exposure Management Ltd. is a separate topic in Part 3.

Charges & Financial Obligations · Restriction or exception

Late payment fee: $29, then $40, with a cap

Late Payment is shown as up to $40. If the company does 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. The late fee on a billing statement will not exceed the Minimum Payment Due on the prior billing statement.

Supporting quotations

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 Late Payment, Returned Payment and Overlimit together with values "Up to $40. Up to $40. None", read in that order.

Charges & Financial Obligations · Restriction or exception

Returned payment fee: $29, then $40, with a cap

Returned Payment is shown as up to $40. If you make a payment that is returned unpaid the first time it is presented to your bank, the fee is $29. If this happens again within the same billing period or the next 6 billing periods, the fee is $40. The returned payment fee on a billing statement will not exceed the applicable Minimum Payment Due on the prior billing statement.

Supporting quotations

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.

Charges & Financial Obligations · Company practice

Overlimit fee: None

The Overlimit fee is None. The fee explanation points to Credit Limit and Cash Advance Limit in Part 1 for the related limit terms.

Supporting quotations

None

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

Qualifications & exceptions

• The Credit Limit section in Part 1 sets what you agree to do about the Credit Limit; "None" here refers only to the fee.

Charges & Financial Obligations · Company practice

Returned check fee and account re-opening fee

A Returned Check fee of $38 applies if you use the card to cash a check at one of the company's approved locations and the check is returned unpaid; the company will also charge you the unpaid amount. An Account Re-opening fee of $25 applies if your Account is cancelled, you ask the company to re-open it, and it does so.

Details not recorded for this card

Supporting quotations

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

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

Qualifications & exceptions

• Part 3 says the company "may" charge a $25 fee when it re-opens a cancelled account at your request; this table entry states $25 as the fee when it re-opens the Account.

Charges & Financial Obligations · Company practice

Fees are added to the purchase balance unless stated otherwise

The company adds fees to the purchase balance unless it tells you otherwise. The cash advance fee is the stated exception in the fee explanations: it is added to the Cash Advance balance.

Details not recorded for this card

Supporting quotations

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

We will add this fee to the Cash Advance balance.

Qualifications & exceptions

• "Unless we tell you otherwise" leaves room for other placements; the agreement does not list other cases.

Charges & Financial Obligations · Company practice

Interest is figured by the average daily balance method (including new purchases)

The Rates and Fees Table states that interest is calculated by the average daily balance method, including new purchases, and points to the How we calculate interest section in Part 2 for the details.

Details not recorded for this card

Supporting quotations

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

Charges & Financial Obligations · Restriction or exception

Credit Limit and Cash Advance Limit: set by the company and changeable

The company assigns a Credit Limit 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 limits are shown on page 1 of Part 1 and on each billing statement. The company may increase or reduce either limit, even if you pay on time and your Account is not in default. You agree to manage your Account so that the Account balance (including fees and interest) is not more than the Credit Limit and the cash advance balance (including fees and interest) is not more than the Cash Advance Limit; you also agree that the total of your plan balances (including plan fees) will not be 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.

Not stated here

• The published agreement does not state the dollar amount of any Credit Limit, Cash Advance Limit or ATM limit; it says they are shown in Part 1 of an individual agreement and on statements.
• The ATM withdrawal limit is not quantified.

Charges & Financial Obligations · Restriction or exception

Charges over the Credit Limit: no overlimit fee, but repayment may be requested

The company may approve charges that cause the Account balance to go over the Credit Limit. If it does, it will not charge an overlimit fee. If it asks you to promptly pay the amount of the Account balance above the Credit Limit, you agree to do so.

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.

Qualifications & exceptions

• The Minimum Payment Due calculation can include up to 1/24th of any overlimit amount (see the Minimum Payment Due card).

Charges & Financial Obligations · Restriction or exception

Person-to-person limit: $2,000 in any 30 days

Your person-to-person transactions may not exceed $2,000 within any 30-day period, and you agree to manage your Account so the total in any 30-day period does not exceed that Person-to-Person Limit. The company may not approve a person-to-person transaction if it would cause the Account to exceed the applicable person-to-person transaction limit or the 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 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.

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

Qualifications & exceptions

• Person-to-person transactions are treated as purchases in the Part 2 definition, but are excluded from eligible purchases for earning Points (see the rewards cards).

Charges & Financial Obligations · Procedure

How the Minimum Payment Due is calculated

The Minimum Payment Due starts with the highest of: (1) interest charged on the billing statement plus 1% of the New Balance (excluding any interest, penalty fees, overlimit amount, and plan balances); (2) 2% of the New Balance (excluding any penalty fees, overlimit amount, and plan balances); or (3) $40. The company then adds 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. The Minimum Payment Due will not exceed the New Balance, and you may pay more than the Minimum Payment Due, up to your 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 three alternatives each exclude different items from the New Balance before the percentage is applied.

Charges & Financial Obligations · Context

Worked example of the Minimum Payment Due

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

Details not recorded for this card

Supporting quotations

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

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

$58 (2% of $2,900)

$40

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

Qualifications & exceptions

• The numbers are an illustration under stated assumptions, not a rate or fee that applies to any account.

Charges & Financial Obligations · Company practice

Interest Free Period (grace period) on purchases

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

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.

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

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

Qualifications & exceptions

• The Rates and Fees Table says no interest on purchases if you pay your entire balance (or balance adjusted for plans) by the due date; this section phrases the condition as paying the New Balance.

Charges & Financial Obligations · Context

Definitions: charge, purchase, cash advance, balance transfer, person-to-person, plan

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 Send Account. A plan is a portion of your account balance selected to be paid over time through a set number of monthly payments using Plan It. To pay by a certain date means to send your payment so that the company receives it and credits 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 statement.

Details not recorded for this card

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.

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

• These definitions decide which fee, APR and rewards rules apply to a given charge (for example, cash advances and person-to-person transactions are treated differently from other purchases elsewhere in the Agreement).

Charges & Financial Obligations · Permission or license

Plan It: optional payment plans for qualifying purchases

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 that is a fixed finance charge charged each month a plan is active. You select qualifying purchases or a qualifying amount and a plan duration, and can view monthly plan payments including the plan fee before setting up. Each 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 purchases or amount become a plan balance subject to a plan fee instead of the APR for purchases. A qualifying purchase is a purchase of at least a specified dollar amount, and a qualifying amount is a specified portion of your balance; qualifying items 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. You will not be able to 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 may use this feature by selecting qualifying purchases or a qualifying amount and a plan duration. You will be able to view the monthly plan payments, including the plan fee, for your selection. Each plan fee will be disclosed before you create the applicable plan and will be based on the plan duration, the APR that would otherwise apply to the purchase amount(s), and other factors. When you set up a plan, the purchases or amount will be added to a plan balance and will be subject to a plan fee instead of the APR for purchases.

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.

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

Not stated here

• The specified dollar amount for a qualifying purchase and the specified portion for a qualifying amount are not stated in the agreement.

Charges & Financial Obligations · Restriction or exception

Plan It: who can create plans, limits, and paying a plan off early

Your ability to create plans is 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, or if one or more of your American Express accounts is enrolled in a payment program, has a payment returned unpaid, or is past due. The company will tell you the number of active plans you may have and may change that number at any time. Plan durations offered, and your ability to include multiple qualifying purchases or a qualifying amount in one plan, are at the company's discretion and based on factors such as creditworthiness, purchase amounts and 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. Plans cannot be cancelled after they have been created, but you can 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.

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.

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.

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

Not stated here

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

Charges & Financial Obligations · Company commitment

Promise to pay and when you must pay

You promise to pay all charges added to your Account, including charges that you or your Additional Card Members make, or permit others to make, even if you or they do not present the Card or sign for the transaction. You must pay at least the Minimum Payment Due on or before the Payment Due Date in the time and manner shown on each billing statement. To pay by a certain date means to send your payment so that the company receives it and credits it to your Account by that date. Missing the minimum payment can also cost Points: the rewards section says Points earned for eligible purchases during a billing period are forfeited if that period's Minimum Payment Due is not paid by the Payment Due Date.

Details not recorded for this card

Supporting quotations

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

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

If the Minimum Payment Due is not paid by the Payment Due Date of the billing period in which it is due, you will forfeit the Points you earned for eligible purchases during that billing period.

Qualifications & exceptions

• The Payment Due Date and the "time and manner" are shown on each billing statement, not in this agreement.

Not stated here

• The specific cut-off time for payment on the Payment Due Date is not stated in the agreement.

Charges & Financial Obligations · Procedure

How to make payments: accepted forms and mailing requirements

Payments must be made to the company in U.S. dollars with a single check drawn on a U.S. bank, a single negotiable instrument clearable through the U.S. banking system (for example a money order), or an electronic payment that can be cleared through the U.S. banking system. When paying by mail, 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 your check or negotiable instrument and include the payment coupon. The company will not accept a payment made in a foreign currency or drawn on an account at a bank located outside the U.S.

Supporting quotations

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

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

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

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

When making a payment by mail:

make a separate payment for each Account,

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

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

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.

Charges & Financial Obligations · Company practice

When payments are credited; late or non-conforming payments

If your payment meets the requirements, it is credited to your Account as of the day the company receives it, as long as it is received by the time and in the manner disclosed in your billing statement; if received after that time, it is credited the day after receipt. If your payment does not meet the requirements, there may be a delay in crediting your Account, which may result in late payment fees and additional interest charges. If the company processes a late payment, a partial payment, or a payment marked with any restrictive language, that has no effect on its rights and does not change the Agreement.

Details not recorded for this card

Supporting quotations

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).

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.

Qualifications & exceptions

• The crediting cut-off time is disclosed on the billing statement, not in this agreement.

Charges & Financial Obligations · Procedure

How payments and credits are applied across balances

If your Account has balances with different interest rates, plan balances or plan fees, payments in a billing period are generally applied as follows. Payments up to the Minimum Payment Due go first to any Plan amounts included in the Minimum Payment Due, then to the balance subject to the lowest interest rate, then to balances subject to higher interest rates. After the Minimum Payment Due has been paid, payments go to the balance subject to the highest interest rate, then to balances subject to lower interest rates, and then to any Plan balances. In most cases a credit is applied to the same balance as the related charge. Payments and credits within balances, and among balances with the same interest rate, may be applied in any order the company chooses. A negative balance at the end of a billing period is redistributed to other balances under the same rules, so Plan balances may get paid before they otherwise would. If you receive a credit for a purchase placed into a plan, you must call the number on the back of your Card to have the credit applied to the Plan balance.

Supporting quotations

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.

In most cases, we apply a credit to the same balance as the related charge.

We may apply payments and credits within balances, and among balances with the same interest rate, in any order we choose. If there is a negative balance in any balance on the account at the end of a billing period, that excess credit will be redistributed to other balances in accordance with how we apply payments described above. This means that in certain circumstances, Plan balances may get paid before they otherwise would. If you receive a credit for a purchase 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.

Qualifications & exceptions

• The wording is "generally"; the company reserves the choice of order within a balance and among balances with the same rate.

Charges & Financial Obligations · Company practice

How interest is calculated: average daily balance, daily periodic rate, days in period

Interest for a billing period is figured on each balance separately and then summed. Different categories of transactions, such as purchases and cash advances, may have different interest rates, and balances within a category may also differ. The company uses the Average Daily Balance method (including new transactions). Except for rounding, interest for a balance in a billing period equals the Average Daily Balance multiplied by the Daily Periodic Rate (DPR) multiplied by the number of days in the billing period. The ADB is found by adding the balance's daily balances and dividing by the number of days in the billing period, and 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.

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.

Not stated here

• The agreement says "Your DPRs are shown in How Rates and Fees Work in Part 1," but that section of the published agreement lists no DPR values; the DPR figures are not shown and are not computed here.

Charges & Financial Obligations · Company practice

Foreign currency charges are converted by AEEML at a rate it chooses

If you make a charge in a foreign currency, AE Exposure Management Ltd. (AEEML) converts it into U.S. dollars on the date the company or its agents process it, and you are billed 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 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, and it may differ from rates in effect on the date of your charge. Charges converted by establishments (such as airlines) are billed at the rates they use.

Supporting quotations

Converting charges made in a foreign currency: If you make a charge in a foreign currency, AE Exposure Management Ltd. ("AEEML") will convert it into U.S. dollars on the date we or our agents process it, so that we bill you for the charge in U.S. dollars based upon this conversion. Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for that date.

The rate AEEML uses is no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior business day. This rate may differ from rates that are in effect on the date of your charge. We will bill charges converted by establishments (such as airlines) at the rates they use.

Qualifications & exceptions

• The Foreign Transaction fee for this card is listed as None in Part 1; this section is about the conversion rate, not that fee.

Not stated here

• The agreement does not give the actual rate or any markup; it states only an upper bound (no more than the highest official or interbank rate identified).

Charges & Financial Obligations · Permission or license

Paying by check authorizes a one-time electronic debit

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 from your bank or other asset account as soon as the same day the company receives your check, and you will not receive that 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; permission for electronic debit: When you pay us by check, you authorize us to use information from your check (such as routing number, account number and check serial number) to make a one-time electronic fund transfer from your bank or other asset account.

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

Not stated here

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

Charges & Financial Obligations · Context

Daily Periodic Rates: the agreement points to values that it does not list

The agreement defines a DPR as 1/365th of an APR, rounded to one ten-thousandth of a percentage point, and says "Your DPRs are shown in How Rates and Fees Work in Part 1." The published agreement's How Rates and Fees Work section in Part 1 contains the Explanation of Variable Rates, the method of determining the Prime Rate, the fee explanations, the credit, cash advance and person-to-person limits, how the Minimum Payment Due is calculated, and when interest is charged, but none of them lists a Daily Periodic Rate, and the Rates and Fees Table gives APRs as the Prime Rate plus a margin (some as a range). No Daily Periodic Rate value appears in this agreement, even though the text also says variable APRs (and corresponding DPRs) will increase if the Prime Rate increases. The DPR values are therefore not shown here, and they are not computed from the APRs or taken from another agreement.

Supporting quotations

DPR: A DPR is 1/365th of an APR, rounded to one ten-thousandth of a percentage point. Your DPRs are shown in How Rates and Fees Work in Part 1.

How Rates and Fees Work

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

Qualifications & exceptions

• The interest formula multiplies by the DPR, so the stated formula cannot be applied to this card from the published agreement alone.

Not stated here

• The Daily Periodic Rate values the agreement says are shown in Part 1 are not in the published agreement.
• Any account-specific Part 1 that a Card Member receives is not supplied here and is not used to fill the gap.

Charges & Financial Obligations · Context

Worked example of an interest calculation (15.99% single rate)

The agreement's example assumes a single interest rate of 15.99%, an Average Daily Balance of $2,250 and 30 days in the billing period. It divides 15.99% by 365 days to get a DPR of 0.0438%, then multiplies $2,250 by 0.0438% by 30 days to get interest of $29.57.

Details not recorded for this card

Supporting quotations

EXAMPLE: Calculating Interest

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

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

number of days in the billing period.

Qualifications & exceptions

• The 15.99% rate in the example is an illustration; it is not one of this card's APRs, which are given as Prime Rate plus a margin.

Charges & Financial Obligations · Company practice

Daily balance, new charges and daily compounding

The daily balance for each balance is figured 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 to a daily balance as of its transaction date, and a negative daily balance is treated as zero. For the first day of a billing period, the beginning balance is the prior period's ending balance, including unpaid interest. For the rest of the period, the beginning balance is the previous day's daily balance plus interest equal to that daily balance multiplied by the DPR for that balance. The agreement states that this method of figuring the beginning balance results in daily compounding of interest.

Supporting quotations

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

taking the beginning balance for the day,

adding any new charges,

subtracting any payments or credits; and

making any appropriate adjustments.

We add a new charge to a daily balance as of its transaction date. If the daily balance is negative, we treat it as zero. Beginning balance: For the first day of a billing period, the beginning balance is the ending balance for the prior billing period, including unpaid interest. For the rest of the billing period, the beginning balance is the previous day's daily balance plus an amount of interest equal to the previous day's daily balance multiplied by the DPR for that balance. This method of figuring the beginning balance results in daily compounding of interest.

Not stated here

• "Appropriate adjustments" are not defined.

Charges & Financial Obligations · Permission or license

The company may use other equivalent methods or not charge interest on some 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.

Details not recorded for this card

Supporting quotations

Other methods: To figure the ADB and interest charges, we may use other formulas or methods that produce equivalent results. Also, we may choose not to charge interest on certain types of charges.

Not stated here

• The agreement does not say which types of charges may be exempted from interest.