American Express® Gold Card Agreement

Charges & Financial Obligations · Company practice

Pay Over Time APR is variable: Prime Rate plus 12.74% to 21.74%

The Annual Percentage Rate for Pay Over Time is stated as the Prime Rate plus a margin that runs from 12.74% to 21.74%, and the table labels it a variable APR. The table points to the Explanation of Variable Rates for how the rate moves with the Prime Rate. The table does not say which margin within the range applies to a given account.

Supporting quotations

Annual Percentage Rate (APR) for Pay Over Time

Prime Rate + 12.74% to Prime Rate + 21.74% This is a variable APR. See Explanation of Variable Rates below.

Qualifications & exceptions

• Variable APR: it moves with the Prime Rate (see the Explanation of Variable Rates).
• Applies to the Pay Over Time feature only; Cash Advance and penalty APRs are stated in separate rows.

Not stated here

• The table does not say how the margin within the 12.74% to 21.74% range is chosen for an account.
• The table shows the APR only as Prime Rate plus a margin; no Daily Periodic Rate value is listed in this table.

Charges & Financial Obligations · Company practice

Cash advance APR is variable: Prime Rate plus 21.99%

Cash advances carry their own variable APR of the Prime Rate plus 21.99%. This is a single stated margin rather than a range, and it is labelled variable with a pointer to the Explanation of Variable Rates.

Supporting quotations

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

Qualifications & exceptions

• Variable APR tied to the Prime Rate.

Not stated here

• The table does not show a Daily Periodic Rate value for cash advances.

Charges & Financial Obligations · Restriction or exception

Penalty APR (Prime Rate plus 26.74%) may be applied after a missed or returned payment

American Express has the right to apply a variable penalty APR of the Prime Rate plus 26.74% to new transactions in a Pay Over Time balance if you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date, or if your payment is returned by your bank. If it is applied, it lasts at least 6 months. American Express reviews the Account every 6 months after the penalty APR is applied, and it 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 in a Pay Over Time balance if: • you do not pay at least the Minimum Payment Due (or Amount Due, if applicable) by the Payment Due Date; or • your payment is returned by your bank and we will notify you if we do.

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

Qualifications & exceptions

• Applies to new transactions in a Pay Over Time balance.
• Triggered by missing the Minimum Payment Due (or Amount Due) by the Payment Due Date, or a payment returned by your bank.
• Stays for at least 6 months, then continues until a reviewed 6-month period has timely payments and no returned payments.

Not stated here

• The table says "we will notify you if we do" without saying how or when notice is given.
• "We have the right to apply" is permissive; the table does not say whether it is applied every time a trigger occurs.

Charges & Financial Obligations · Company practice

Pay Over Time charges avoid interest only if grace conditions are met; cash advances accrue at once

The table says the Payment Due Date is at least 25 calendar days after the close of each billing period, and that no interest is charged on charges automatically added to a Pay Over Time balance if each month you pay the Account Total New Balance (or the Adjusted Balance, if you have a Plan balance) by the Payment Due Date. The detailed grace-period text qualifies this: interest is not charged on automatically added charges in a billing period if the Pay Over Time Previous Balance for the period is zero, or if you paid the Account Total New Balance (or Adjusted Balance with an active Plan It plan) in full by the Payment Due Date for each of the previous two billing periods. Cash advances are different: interest starts on the transaction date.

Supporting quotations

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

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

If you have Cash Advance on your Account, we will begin charging interest on cash advances on the transaction date.

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

However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:

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

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

Qualifications & exceptions

• No-interest treatment applies only to charges automatically added to a Pay Over Time balance, not to cash advances.
• Requires one of two conditions in the detailed grace-period text: Previous Balance of zero, or full payment by the Payment Due Date in each of the previous two billing periods.

Not stated here

• The table summary describes paying "each month" and does not repeat the "previous two billing periods" wording used in the detailed grace-period text; the document does not explain how the two descriptions are meant to be reconciled beyond that text.

Cross-references

• qualified by (model-proposed): Pay Over Time interest starts on the transaction date unless a no-interest condition is met; cash advances always accrue — The table summary of when interest is avoided is qualified by the detailed grace-period conditions (zero Previous Balance, or full on-time payment in each of the previous two billing periods).

Charges & Financial Obligations · Company practice

Plan It plan fee: monthly fixed finance charge of up to 1.33% of each purchase in a plan

A purchase placed in a Plan It plan carries a monthly plan fee of up to 1.33% of that purchase. The fee depends on an APR, the plan duration and other factors. The APR used is the one that would otherwise apply to the purchase for a Pay Over Time purchase, the Pay Over Time APR at the time the plan is created for a Pay In Full purchase, or the lower of the two for a purchase split between Pay Over Time and Pay In Full balances. Each plan fee is disclosed before a plan is created. A plan cannot be cancelled once created, but paying the Account Total New Balance in full pays it off early and ends future plan fees on that plan.

Supporting quotations

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

either the APR that would otherwise apply to that purchase (for purchases in a Pay Over Time balance), the APR that applies to the Pay Over Time feature at the time you create the plan (for purchases in a Pay In Full balance), or the lower of the two APRs (for purchases that are divided between a Pay Over Time balance and a Pay In Full balance); the plan duration; and other factors.

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

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

Qualifications & exceptions

• "Up to 1.33%" is a ceiling per month on the purchase placed in the plan.
• The fee base APR depends on which balance the purchase was in when the plan was created.

Not stated here

• The table does not state the exact fee for a given plan; it says other factors (not listed) also apply and that the exact amount is disclosed before a plan is created.

Charges & Financial Obligations · Company practice

Annual Fee is $325

The Rates and Fees Table lists an Annual Fee of $325 for the Gold Card. Fees for additional cards and the refund conditions appear elsewhere in the agreement.

Supporting quotations

Annual Fee | $325

Qualifications & exceptions

• Amount stated in the Rates and Fees Table for this Account.

Charges & Financial Obligations · Company practice

Cash advance fee is $10 or 5%, whichever is greater; no foreign transaction fee

The table sets the fee for each cash advance at the greater of $10 or 5% of the amount advanced, and states that the Foreign Transaction fee is None.

Supporting quotations

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

Foreign Transaction: None.

Qualifications & exceptions

• The cash advance fee applies to each cash advance and is the greater of the two amounts.

Charges & Financial Obligations · Company practice

Late and returned payment fees are up to $40 each

The table gives the Late Payment fee and the Returned Payment fee each as "Up to $40". The table states only the maximum.

Supporting quotations

Late Payment: Up to $40. Returned Payment: Up to $40.

Qualifications & exceptions

• Maximum amounts as stated in the table.

Not stated here

• The table does not state the lower amounts or the circumstances that decide the amount; the fee detail further down Part 1 is explained in its own card.

Cross-references

• narrowed by (model-proposed): Late payment fee is $29, then $40 for a repeat within 6 billing periods, capped at the prior statement amount — The table gives the late payment fee only as "Up to $40"; the fee detail states $29 for a first late payment and $40 for a repeat within the next 6 billing periods.
• narrowed by (model-proposed): Returned payment fee is $29, then $40 for a repeat in the same or next 6 billing periods, with a cap — The table gives the returned payment fee only as "Up to $40"; the fee detail states $29 for a first returned payment and $40 for a repeat.

Charges & Financial Obligations · Procedure

Interest is calculated with the average daily balance method, including new purchases

Part 1 states that interest is calculated using the average daily balance method (including new purchases) and points to the Part 2 section that explains how interest is calculated on Pay Over Time and Cash Advance balances.

Supporting quotations

We use a method called average daily balance method (including new purchases). See the How we calculate interest on Pay Over Time and Cash Advance Balances section in Part 2.

Qualifications & exceptions

• Method statement only; the formula is in Part 2.

Charges & Financial Obligations · Company practice

Variable APRs rise when the Prime Rate rises, change at the start of the billing period, and cap at 29.99%

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

• Applies to variable APRs, which the Rates and Fees Table labels as variable.
• Change takes effect as of the first day of the billing period during which the Prime Rate changed.
• The 29.99% ceiling is stated for variable APRs.

Not stated here

• The text spells out what happens when the Prime Rate increases; it states that a change in the Prime Rate changes the variable APRs but does not separately spell out a decrease.

Charges & Financial Obligations · Procedure

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

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

Supporting quotations

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

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

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

Qualifications & exceptions

• Measured on the Closing Date of the billing period.
• The replacement-source clause is permissive ("may").

Not stated here

• The text does not name the other newspaper that would be used if The Wall Street Journal stopped publishing the Prime Rate.

Charges & Financial Obligations · Company practice

Additional cards: no annual fee for the first 5, then $35 for each additional card

The annual fee for the card itself is the one in the Rates and Fees Table. For Additional Cards, there is no charge for the first 5, and $35 is charged for each additional card after that. Part 2 adds that if a single Annual Fee applies for a group of Additional Cards, the refund policy applies when the Additional Card on which the fee was assessed is cancelled.

Supporting quotations

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

We will not charge for the first 5 additional cards, we will charge $35 for each additional card thereafter.

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

• Applies to Additional Cards on the Account; the first 5 carry no charge.
• Refund policy for the fee is described in Part 3 (see the account-closing card).

Not stated here

• The text does not say whether the $35 fee is charged annually; it is described only as the Annual Fee for Additional Cards.

Cross-references

• refers to (model-proposed): You may close the Account by calling or writing; the Annual Fee is refunded only if you close within 30 days — The Additional Card annual fee points to the refund policy in the Closing or suspending your Account sub-section of Part 3.

Charges & Financial Obligations · Company practice

Plan fee is a fixed finance charge billed each month a plan is active and disclosed before the plan is set up

The plan fee is described on the Rates and Fees Table. It is a fixed finance charge charged each month that a plan is active. The dollar amount of your plan fee is disclosed before you set up a plan, and the Plan It text in Part 2 says you can view the monthly plan payments, including the plan fee, for your selection.

Supporting quotations

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

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

Qualifications & exceptions

• Charged each month that a plan is active.
• Amount disclosed before the plan is set up.

Charges & Financial Obligations · Company practice

Cash advance fee is 5% (including any ATM operator fee), with a $10 minimum, added to the Cash Advance balance

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

Supporting quotations

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

Qualifications & exceptions

• For an ATM cash advance, the 5% is figured on the amount including any ATM operator fee.
• Minimum $10.

Not stated here

• The text does not say whether the ATM operator fee is charged in addition to the 5% fee beyond including it in the amount the 5% is figured on.

Cross-references

• defined by (model-proposed): Defined charge types: a cash advance includes cash equivalents, digital currency, casino chips and betting transactions — The cash advance definition in Part 2 sets which charges the cash advance fee, limit and APR apply to.

Charges & Financial Obligations · Company practice

Foreign transaction fee is None

The fee detail states "Foreign Transaction: None", matching the Rates and Fees Table, so no foreign transaction fee is listed for this Account.

Supporting quotations

Foreign Transaction: None.

Qualifications & exceptions

• Fee detail statement for this Account.

Not stated here

• Other provisions mention charges "subject to a Foreign Transaction Fee"; the agreement does not say when such a fee would apply given this "None" statement.

Cross-references

• contrast (model-proposed): Charges with a foreign fee, certain disputes or fraud reports, a plan, or a suspended Account are not moved — Part 1 states the Foreign Transaction fee as None, while other provisions treat charges "subject to a Foreign Transaction Fee" as excluded from the Closing Date move; the document does not reconcile these.

Charges & Financial Obligations · Company practice

Late payment fee is $29, then $40 for a repeat within 6 billing periods, capped at the prior statement amount

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

Supporting quotations

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

Qualifications & exceptions

• The $40 amount applies when a late payment happens again within the next 6 billing periods.
• Cap: the fee will not exceed the Amount Due (or Minimum Payment Due) on the prior billing statement.

Cross-references

• narrows (model-proposed): Late and returned payment fees are up to $40 each — The table gives the late payment fee only as "Up to $40"; the fee detail states $29 for a first late payment and $40 for a repeat within the next 6 billing periods.

Charges & Financial Obligations · Company practice

Returned payment fee is $29, then $40 for a repeat in the same or next 6 billing periods, with a cap

If a payment is returned unpaid the first time American Express presents it 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 Amount Due (or Minimum Payment Due, if applicable) 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 Amount Due (or Minimum Payment Due, if applicable) on your prior billing statement.

Qualifications & exceptions

• $40 applies to a repeat in the same billing period or the next 6 billing periods.
• Cap: the fee will not exceed the Amount Due (or Minimum Payment Due) on the prior billing statement.

Cross-references

• narrows (model-proposed): Late and returned payment fees are up to $40 each — The table gives the returned payment fee only as "Up to $40"; the fee detail states $29 for a first returned payment and $40 for a repeat.

Charges & Financial Obligations · Company practice

Returned check fee is $38 plus the unpaid amount when a check cashed with the card is returned

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

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.

Qualifications & exceptions

• Applies to a check cashed using the card at an approved location that is returned unpaid.

Charges & Financial Obligations · Company practice

Account re-opening fee is $25 if a cancelled Account is re-opened at your request

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

Supporting quotations

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

Qualifications & exceptions

• Applies only if the Account was cancelled, you requested re-opening, and American Express re-opened it.

Cross-references

• contrast (model-proposed): You may close the Account by calling or writing; the Annual Fee is refunded only if you close within 30 days — Part 1 states the re-opening fee as $25 when an Account is cancelled, re-opened at your request and American Express does so, while Part 3 says American Express "may charge" $25; the document does not say whether the fee is ever waived.

Charges & Financial Obligations · Restriction or exception

Cash advance balance may not exceed $6,000, and you agree to manage the Account to stay within it

The Cash Advance Limit is $6,000 on the cash advance balance. There may also be a limit on the amount of cash and number of times cash can be obtained from ATMs in a given period. You agree to manage your Account so that the cash advance balance (including fees and interest) is not more than the limit. For this limit, the cash advance balance is determined by adding new cash advance transactions to the prior day's ending cash advance balance.

Supporting quotations

Cash Advance Limit: Your cash advance balance may not exceed $6,000.

There may also be a limit on the amount of cash and number of times you can obtain cash from ATMs in a given period.

You agree to manage your Account so that your cash advance balance (including fees and interest) is not more than the Cash Advance Limit.

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

Qualifications & exceptions

• The balance counted includes fees and interest.
• Computed daily from the prior day's ending cash advance balance plus new cash advance transactions.

Not stated here

• The text does not state the amount or frequency of any ATM cash limit; it says only that there "may" be one.

Charges & Financial Obligations · Restriction or exception

A cash advance may be declined if it would push balances over the Pay Over Time Limit

American Express may not approve a cash advance if it would cause the total of the Pay Over Time and/or Cash Advance balance and Plan balance to go over the Pay Over Time Limit. Part 2 explains that the Pay Over Time Limit applies to the total of Pay Over Time, Cash Advance and Plan balances and is not a spending limit.

Supporting quotations

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

The Pay Over Time Limit applies to the total of your Pay Over Time, Cash Advance, and Plan balances.

The Pay Over Time Limit is not a spending limit.

Qualifications & exceptions

• Separate from the $6,000 Cash Advance Limit.
• "May not approve" leaves the decision to American Express.

Not stated here

• The Pay Over Time Limit amount is not stated in this public copy.

Cross-references

• refers to (model-proposed): The Pay Over Time Limit caps the Pay Over Time, Cash Advance and Plan balances, is not a spending limit, and can change — The cash advance approval limit in Part 1 relies on the Pay Over Time Limit that Part 2 describes.

Charges & Financial Obligations · Restriction or exception

Person-to-person transactions may not exceed $2,000 in any 30-day period

The Person-to-Person Limit is $2,000 for person-to-person transactions within any 30-day period. You agree to manage your Account so that the total of your person-to-person transactions in any 30-day period does not exceed the limit, and American Express may not approve a person-to-person transaction that would cause the Account to exceed it.

Supporting quotations

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 does not exceed the Person-to-Person Limit.

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

Qualifications & exceptions

• Measured over any 30-day period.

Charges & Financial Obligations · Procedure

The monthly amount owed is the Pay In Full New Balance plus any minimum due and plan payment, including past-due amounts

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

Supporting quotations

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

The Pay In Full New Balance

Any Pay Over Time and/or Cash Advance Minimum Due

Any Plan Payment Due

Above amounts include any past due amounts.

Qualifications & exceptions

• Components appear on the billing statement.
• Includes any past due amounts.

Charges & Financial Obligations · Procedure

Pay Over Time/Cash Advance Minimum Due is the highest of $40, 2% of the balance, or a tiered formula plus interest

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

Supporting quotations

Your Pay Over Time and/or Cash Advance Minimum Due is the highest of:

$40

2% of the Pay Over Time and/or Cash Advance New Balance

The total calculated by following these steps: Use the Pay Over Time and/or Cash Advance New Balance minus the Interest charged on the billing statement as the Amount to calculate the sum of a. through d. below:

a. 1% of the Amount from $0 through $20,000

b. 2% of the Amount from $20,000.01 through $35,000

c. 5% of the Amount from $35,000.01 through $50,000

d. 10% of the Amount above $50,000

e. Then divide the sum from steps a. through d. by the Amount and round to four decimals

f. Multiply by the Amount

g. Add the Interest charged on the billing statement Plus any Pay Over Time and/or Cash Advance amount past due.

Your Pay Over Time and/or Cash Advance Minimum Due will not exceed your Pay Over Time and/or Cash Advance New Balance. You may pay more than the Minimum Payment Due, up to your entire outstanding balance, at any time.

Qualifications & exceptions

• Highest of the three amounts applies.
• Capped at the Pay Over Time and/or Cash Advance New Balance.
• Tier thresholds are applied to the Amount (New Balance minus Interest charged on the billing statement).

Not stated here

• How the Plan Payment Due is figured is not part of this formula; the text points to Plan It for plan details.

Charges & Financial Obligations · Context

Worked example: $30,300 balance including $300 interest; first two candidate amounts are $40 and $606

The agreement works an example with a Pay In Full New Balance of $200 and a Pay Over Time and/or Cash Advance New Balance of $30,300, which includes $300 of Interest. The first candidate minimum is $40 and the second, 2% of $30,300, is $606. The third, tiered calculation is worked in the next lines of the agreement.

Supporting quotations

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

$40

2% multiplied by $30,300 equals $606

Qualifications & exceptions

• Illustration using the stated figures, not the terms of any particular Account.

Not stated here

• This card stops at the first two candidates; the third candidate and the final Minimum Payment Due are in the following section.

Charges & Financial Obligations · Context

Worked example result: the highest candidate is $699, giving a Minimum Payment Due of $899

Continuing the worked example (Pay In Full New Balance $200; Pay Over Time and/or Cash Advance New Balance $30,300, including $300 interest), the tiered calculation takes $30,300 minus $300 to get $30,000, then 1% of $20,000 ($200) and 2% of the next $10,000 ($200), with nothing in the higher tiers. The two tier amounts total $400, which divided by $30,000 gives 0.0133; multiplied by $30,000 this is $399, and adding the $300 interest gives $699. The highest of the three candidates ($40, $606 and $699) is $699. That $699 Pay Over Time and/or Cash Advance Minimum Due plus the $200 Pay in Full New Balance makes up a Minimum Payment Due of $899.

Supporting quotations

2% multiplied by $30,300 equals $606

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

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

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

c. 5% multiplied by $0 equals $0

d. 10% multiplied by $0 equals $0

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

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

g. $399 plus $300 equals $699

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

Qualifications & exceptions

• Illustration using the stated figures, not the terms of any particular Account.
• The Minimum Payment Due in the example is the Pay Over Time and/or Cash Advance Minimum Due plus the Pay in Full New Balance.

Not stated here

• The example has no plan payment, so it does not show how a Plan Payment Due would add to the total.

Charges & Financial Obligations · Company practice

Pay Over Time interest starts on the transaction date unless a no-interest condition is met; cash advances always accrue

American Express charges interest on Pay Over Time balances as described, and for cash advances from the transaction date, so interest on cash advances cannot be avoided. For charges added automatically to a Pay Over Time balance when they post, interest runs from the transaction date until paid. For charges or portions that are automatically moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date, interest runs from the day after they are added until paid. There is no interest on charges added automatically to the Pay Over Time balance in a billing period if the Pay Over Time Previous Balance for that period is zero, or if the Account Total New Balance (or the Adjusted Balance with an active Plan It plan) was paid in full by the Payment Due Date for each of the previous two billing periods. Charges that remain in the Pay In Full balance are due in full each month.

Supporting quotations

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

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

For charges added automatically to a Pay Over Time balance at the time they post to your account, we charge interest from the transaction date until they are paid.

For charges or portions of charges that we automatically move from your Pay In Full balance to your Pay Over Time balance on your Closing Date, we charge interest from the day after they are added to your Pay Over Time balance until they are paid.

However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:

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

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

We will not charge you interest on charges automatically added to a Pay Over Time balance if each month you pay your Account Total New Balance on your billing statement

Purchases made and Annual Fees charged when Pay Over Time is set to inactive will be added to your Pay In Full balance, which will be due in full each month.

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

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

Qualifications & exceptions

• The no-interest conditions apply to charges added automatically to the Pay Over Time balance, not to cash advances.
• The two conditions are alternatives ("or").
• "Previous two billing periods" means each of those periods' statements was paid in full by its Payment Due Date.

Not stated here

• "Adjusted Balance" and "Account Total New Balance" are used without definitions in this document.
• The text does not say how the previous-two-periods condition applies to a newly opened Account.

Cross-references

• qualifies (model-proposed): Pay Over Time charges avoid interest only if grace conditions are met; cash advances accrue at once — The table summary of when interest is avoided is qualified by the detailed grace-period conditions (zero Previous Balance, or full on-time payment in each of the previous two billing periods).

Charges & Financial Obligations · Company practice

Pay Over Time Select purchases added at your request accrue interest from the date added

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

Supporting quotations

For Pay Over Time Select: we charge you interest on purchases added at your request to a Pay Over Time Select balance from the date they are added to a Pay Over Time Select balance until they are paid.

Qualifications & exceptions

• Applies to purchases added at your request to a Pay Over Time Select balance.

Not stated here

• This public Card Member Agreement mentions Pay Over Time Select only in this sentence and does not describe the feature, its rate or how a purchase is added.

Charges & Financial Obligations · Context

Defined charge types: a cash advance includes cash equivalents, digital currency, casino chips and betting transactions

A charge is any amount added to the Account, such as purchases, cash advances, fees and interest charges. A purchase is a charge for goods, services or person-to-person transactions. A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers and other offline and online betting transactions. A person-to-person transaction is a charge for funds sent to another person or a charge to add funds to your Amex SendTM Account. A plan is a portion of the Account balance selected to be paid through a set number of monthly payments using Plan It. The Closing Date appears on each billing statement and is the last day of the billing period it covers.

Supporting quotations

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

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

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

A plan is a portion of your Account balance that you have selected to pay through a set number of monthly payments using Plan It. The Closing Date appears on each billing statement and is the last day of the billing period covered by the billing statement.

Qualifications & exceptions

• The list of cash equivalents is introduced by "including", so it is not stated to be exhaustive.
• These definitions determine which fees, limits and rates apply to a charge (for example cash advance fees and limits).

Not stated here

• The text does not define "cash equivalents" beyond the examples listed.

Cross-references

• defines (model-proposed): Cash advance fee is 5% (including any ATM operator fee), with a $10 minimum, added to the Cash Advance balance — The cash advance definition in Part 2 sets which charges the cash advance fee, limit and APR apply to.

Charges & Financial Obligations · User right or choice

Pay Over Time lets you carry an interest-bearing balance up to your limit; inactive means charges are due in full

If Pay Over Time is a feature of the Account, you may carry a balance with interest up to your Pay Over Time Limit. It has two settings, active and inactive, which you can change or view at any time through your online account or by calling the number on the back of the Card. Purchases made and Annual Fees charged while it is inactive are added to the Pay In Full balance, which is due in full each month. If you have a Pay Over Time balance you can choose each month to pay the Account Total New Balance in full, the Minimum Payment Due, or any amount in between. How charges get added to the Pay Over Time balance is described in the following text.

Supporting quotations

If Pay Over Time is a feature of your Account, you may carry a balance with interest, up to your Pay Over Time Limit.

Pay Over Time has two settings: active and inactive. You can change or view your Pay Over Time setting at any time through your online account or by calling the number on the back of your Card.

Purchases made and Annual Fees charged when Pay Over Time is set to inactive will be added to your Pay In Full balance, which will be due in full each month.

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

Qualifications & exceptions

• Applies only if Pay Over Time is a feature of the Account.
• Interest-bearing balance is limited to the Pay Over Time Limit.

Not stated here

• The Pay Over Time Limit amount is not stated in this public copy.

Charges & Financial Obligations · Procedure

If Pay Over Time is active at 8 p.m. ET on the transaction date, eligible charges are added to the Pay Over Time balance

If Pay Over Time is set to active at 8 p.m. ET on the transaction date provided by the merchant for an eligible charge (or on the date an eligible Annual Fee is charged), the charge is automatically added to the Pay Over Time balance, subject to the Pay Over Time Limit. If adding the whole charge would push the total of the Pay Over Time, Cash Advance and Plan balances over the limit, the whole charge goes to the Pay In Full balance instead. The merchant's transaction date may differ from the purchase date (for example a delay in submission or use of the shipping date), and charges with the same transaction date are added in any order American Express chooses. The Pay Over Time Limit is not a spending limit.

Supporting quotations

On the Transaction Date:

If Pay Over Time is set to active at 8 p.m.ET on the transaction date provided by the merchant for an eligible charge, or on the date when an eligible Annual Fee is charged to your Account, the charge will automatically be added to your Pay Over Time balance, subject to your Pay Over Time Limit.

If the addition of an entire charge to your Pay Over Time balance would cause the total of your Pay Over Time, Cash Advance, and Plan balances to exceed your Pay Over Time Limit, that charge will be added to your Pay In Full balance.

The transaction date provided by the merchant may differ from the date you made the purchase if, for example, there is a delay in the merchant submitting the transaction to us or if the merchant uses the shipping date as the transaction date. Charges with the same transaction date will be added to your Pay Over Time balance in any order we choose.

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

The Pay Over Time Limit is not a spending limit.

Qualifications & exceptions

• Applies to eligible charges and eligible Annual Fees when Pay Over Time is active at 8 p.m. ET on the transaction date.
• Charges that would exceed the Pay Over Time Limit as a whole are added to the Pay In Full balance.

Not stated here

• "Eligible" charges are defined only partly: the following text names some charges that are not eligible and says eligibility may change.

Charges & Financial Obligations · Permission or license

On the Closing Date, eligible Pay In Full charges may be moved to the Pay Over Time balance, up to the limit

If on the Closing Date the total of the Pay Over Time, Cash Advance and Plan balances is less than the Pay Over Time Limit, Pay Over Time is set to active at 8 p.m. ET, and there are eligible new charges in the Pay In Full balance with a transaction date when Pay Over Time was active, you authorize American Express to automatically move all or part of those charges to the Pay Over Time balance, subject to the limit. If a charge would take the total over the limit, only the portion up to the limit is moved and the rest stays in the Pay In Full balance. Eligible charges move in order of transaction date, and charges with the same date move in any order American Express chooses. Interest on charges moved this way runs from the day after they are added to the Pay Over Time balance, and the no-interest conditions in the grace-period text can still apply.

Supporting quotations

On your Closing Date:

Also, if on your Closing Date, 1) the total of your Pay Over Time, Cash Advance, and Plan balances is less than your Pay Over Time Limit,

Pay Over Time is set to active at 8 p.m. ET and 3) there are eligible new charges in your Pay In Full balance with a transaction date when Pay Over Time was set to active, you authorize us to automatically move all or a portion of those charges to your Pay Over Time balance, subject to your Pay Over Time Limit.

If the addition of a charge to your Pay Over Time balance would cause the total of your Pay Over Time, Cash Advance, and Plan balances to exceed your Pay Over Time Limit, we will move a portion of that charge to your Pay Over Time balance, up to your Pay Over Time Limit. The remaining portion of the charge will remain in your Pay In Full balance.

Eligible charges will be moved to your Pay Over Time balance in order of the transaction dates. Charges with the same transaction date will be added to your Pay Over Time balance in any order we choose.

we charge interest from the day after they are added to your Pay Over Time balance until they are paid. However, we will not charge interest on charges added automatically to your Pay Over Time balance in a billing period if:

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

Qualifications & exceptions

• Requires the conditions stated in the text on the Closing Date; the list of conditions in the extracted text shows "1)" and "3)" and the middle condition ("Pay Over Time is set to active at 8 p.m. ET") appears without its "2)" marker.
• Movement is subject to the Pay Over Time Limit; a partial move is possible.
• Excluded charges are listed in the next card.

Not stated here

• The extracted text does not show a "2)" marker before "Pay Over Time is set to active at 8 p.m. ET"; the document does not say how the conditions are numbered beyond what appears.

Cross-references

• has exception (model-proposed): Charges with a foreign fee, certain disputes or fraud reports, a plan, or a suspended Account are not moved — The listed charges are not eligible to be moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date.

Charges & Financial Obligations · Restriction or exception

Charges with a foreign fee, certain disputes or fraud reports, a plan, or a suspended Account are not moved

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

Supporting quotations

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

that charge is subject to a Foreign Transaction Fee;

that charge or a portion of that charge is disputed (for a reason other than fraud) and that dispute is not resolved in the same billing period in which it was opened;

that charge or a portion of that charge is reported as fraudulent and either (i) we determined the charge is fraudulent in the same billing period in which it was posted to your Account, or (ii) we have not yet determined if the charge is fraudulent in the same billing period in which it was posted to your Account;

you created a plan for that charge using Plan It;

Pay Over Time is suspended on your Account; or

your Account is cancelled or enrolled in a payment program.

Qualifications & exceptions

• These exclusions apply to the Closing Date move; separate text covers charges added on the transaction date.
• Each listed item on its own makes the charge (or the affected portion) ineligible.

Not stated here

• "Payment program" is used without a definition in this document.

Cross-references

• exception to (model-proposed): On the Closing Date, eligible Pay In Full charges may be moved to the Pay Over Time balance, up to the limit — The listed charges are not eligible to be moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date.
• contrast (model-proposed): Foreign transaction fee is None — Part 1 states the Foreign Transaction fee as None, while other provisions treat charges "subject to a Foreign Transaction Fee" as excluded from the Closing Date move; the document does not reconcile these.

Charges & Financial Obligations · Permission or license

Plan It may be offered: payment plans for qualifying purchases with a monthly fixed finance charge; no cancellation

American Express may offer Plan It, which allows you to create a payment plan for qualifying purchases subject to a plan fee. The fee is a fixed finance charge charged each month a plan is active. You use the feature by selecting qualifying purchases and a plan duration. A plan cannot be cancelled after it is created, though you may pay it early by paying the Account Total New Balance on your most recent billing statement in full.

Supporting quotations

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

You may use this feature by selecting qualifying purchases and a plan duration.

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

Qualifications & exceptions

• Plan It is offered at American Express's option ("We may offer you Plan It").
• Plans cannot be cancelled after creation; early payoff is by paying the Account Total New Balance in full.

Charges & Financial Obligations · Procedure

Plan It fee is based on the APR for the balance the purchase was in when the plan was created

You use Plan It by selecting qualifying purchases and a plan duration, and you can view the monthly plan payments, including the plan fee, for your selection. Each plan fee is disclosed before you create the plan. The fee is based on: the APR that would otherwise apply to the purchase for a purchase in the Pay Over Time balance; the APR that applies to the Pay Over Time feature at the time the plan is created for a purchase in the Pay In Full balance; or, for a purchase divided between the two balances because only part of it was moved to Pay Over Time on the Closing Date, the lower of those two APRs. The table row sets the plan fee at up to 1.33% per month of each purchase placed in a plan.

Supporting quotations

We may offer you Plan It, which allows you to create a payment plan for qualifying purchases subject to a plan fee.

You will be able to view the monthly plan payments, including the plan fee, for your selection. Each plan fee will be disclosed before you create the applicable plan.

If you create a plan for a purchase in your Pay Over Time balance, the purchase will be added to a plan balance and will be subject to a plan fee based on the APR that would otherwise apply to the purchase amount.

If you create a plan for a purchase that is in your Pay In Full balance, the purchase will be added to a plan balance and will be subject to a plan fee based on the APR that applies to the Pay Over Time feature at the time you create the plan.

the purchase will be added to a plan balance and will be subject to a plan fee based on either the APR that would otherwise apply (to the portion of the purchase that was in your Pay Over Time balance) or the APR that applies to the Pay Over Time feature at the time you create the plan, whichever is lower.

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

Qualifications & exceptions

• Which APR is the base depends on which balance the purchase (or part of it) was in.
• The fee is disclosed before the plan is created.

Not stated here

• The text does not give the plan fee percentage for any particular plan, only the table ceiling of up to 1.33%.

Charges & Financial Obligations · Restriction or exception

Qualifying purchases for Plan It: a minimum dollar amount; cash, foreign-fee purchases and fees do not qualify

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

Supporting quotations

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

Qualifications & exceptions

• The exclusions are stated as "do not include".

Not stated here

• The "specified dollar amount" is not stated in this public document.

Charges & Financial Obligations · Restriction or exception

Creating a Plan It plan depends on creditworthiness, your limit, Account status and American Express's discretion

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

Supporting quotations

Your ability to create plans will be based on a variety of factors such as your creditworthiness and your Pay Over Time Limit. You may not be able to create a plan if it would cause you to exceed your Pay Over Time Limit.

You will not be able to create plans if your Pay Over Time feature is suspended or your Account is cancelled. You will also not be able to create plans if one or more of your American Express Accounts is enrolled in a payment program, has a payment that is returned unpaid, or is past due.

We will tell you the number of active plans you may have, and we may change this number at any time.

The plan durations offered to you, and your ability to include multiple qualifying purchases in a single plan, will be at our discretion and will be based on a variety of factors such as your creditworthiness, the purchase amount(s), and your Account history.

Qualifications & exceptions

• The block on creating plans extends to other American Express Accounts that are in a payment program, returned a payment or are past due.
• Durations and multi-purchase plans are discretionary.

Not stated here

• The number of active plans allowed is not stated in this document.
• "Payment program" is not defined in this document.

Charges & Financial Obligations · User right or choice

A plan cannot be cancelled, but paying the Account Total New Balance in full ends future plan fees on it

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

Supporting quotations

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

Qualifications & exceptions

• Early payoff is done by paying the full Account Total New Balance on the most recent billing statement.

Charges & Financial Obligations · Restriction or exception

The Pay Over Time Limit caps the Pay Over Time, Cash Advance and Plan balances, is not a spending limit, and can change

If you have Pay Over Time, American Express assigns a Pay Over Time Limit to the Account, shown on page 1 of Part 1 and on each billing statement. The limit applies to the total of the Pay Over Time, Cash Advance and Plan balances, and the Pay Over Time balance cannot exceed it; a charge that would push it over is added to the Pay In Full balance. A delay in posting cash advances or plans may let the total temporarily exceed the limit. The limit is not a spending limit: American Express may approve or decline a charge whether the balance is above or below it. It may increase or reduce the limit at any time, even if you pay on time and the Account is not in default, and will tell you if it changes. All charges not added to a Pay Over Time, Cash Advance or Plan balance must be paid in full by the Payment Due Date.

Supporting quotations

you may carry a balance with interest, up to your Pay Over Time Limit.

If you have Pay Over Time, we assign a Pay Over Time Limit to your Account, which is shown on page 1 of Part 1 and on each billing statement. The Pay Over Time Limit applies to the total of your Pay Over Time, Cash Advance, and Plan balances. Your Pay Over Time balance cannot exceed your Pay Over Time Limit.

If the addition of a charge would cause your Pay Over Time balance to exceed your Pay Over Time Limit, that charge will be added to your Pay In Full balance.

When there is a delay in posting cash advances or plans to your Account, the total of your Pay Over Time, Cash Advance, and Plan balances may exceed your Pay Over Time Limit.

The Pay Over Time Limit is not a spending limit. We may approve or decline a charge regardless of whether your Card Account balance is greater or less than your Pay Over Time Limit.

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

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

Qualifications & exceptions

• Applies only to Accounts with Pay Over Time.
• Changes are at American Express's discretion, with notice that it "will tell you".

Not stated here

• The limit amount is on page 1 of Part 1 and billing statements, which are not part of this public copy.
• The text does not say how or how soon notice of a change to the limit is given.

Cross-references

• referred to by (model-proposed): A cash advance may be declined if it would push balances over the Pay Over Time Limit — The cash advance approval limit in Part 1 relies on the Pay Over Time Limit that Part 2 describes.

Charges & Financial Obligations · Restriction or exception

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

You promise to pay all charges added to 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 you or they do not sign for the transaction. You must pay the Amount Due, or at least the Minimum Payment Due as applicable, on or before the Payment Due Date in the time and manner shown on each billing statement.

Supporting quotations

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

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

Qualifications & exceptions

• Covers charges made by Additional Card Members and by anyone you permit.
• Due amount depends on whether an Amount Due or a Minimum Payment Due applies.

Charges & Financial Obligations · Procedure

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

Payments to American Express must be made in U.S. dollars with a single check drawn on a U.S. bank, a single negotiable instrument clearable through the U.S. banking system (for example a money order), or an electronic payment that can be cleared through the U.S. banking system.

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.

Qualifications & exceptions

• Each listed method is an alternative.

Charges & Financial Obligations · Procedure

Mail payments: one payment per Account, to the coupon address, with the Account number and coupon

When paying by mail, you should make a separate payment for each Account, mail it to the address on the payment coupon on the billing statement, and write the 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.

Qualifications & exceptions

• These are the requirements for mailed payments.

Charges & Financial Obligations · Company practice

A compliant payment is credited the day received if on time; otherwise the next day, or delayed if non-compliant

If a payment meets the stated requirements, American Express credits it 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 received after that time, it is credited the day after. If the payment does not meet the requirements, there may be a delay in crediting, 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.

Qualifications & exceptions

• Same-day credit depends on receipt by the time and in the manner shown on the billing statement.

Not stated here

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

Charges & Financial Obligations · Restriction or exception

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

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

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.

Qualifications & exceptions

• Applies to payments in foreign currency or from non-U.S. banks, and to late, partial or restrictively marked payments.

Charges & Financial Obligations · Procedure

Payments go first to the Pay In Full balance and plan amounts up to the minimum, then to higher-rate balances

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

Supporting quotations

If your Account has balances with different interest rates, plan balances, or plan fees, here is how we generally apply payments in a billing period:

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

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

Qualifications & exceptions

• Described as how payments are "generally" applied.
• The order differs for the portion up to the Minimum Payment Due and the portion above it.

Not stated here

• The text says "generally" and does not describe exceptions to this order.

Charges & Financial Obligations · Procedure

Credits usually go to the related charge balance; a credit for a plan purchase needs a call to be applied to the plan

In most cases, American Express applies a credit to the same balance as the related charge. It may apply payments and credits within balances, and among balances with the same interest rate, in any order it chooses. If any balance is negative at the end of a billing period, the excess credit is redistributed to other balances under the payment-application order, which in some circumstances means plan balances may be paid before they otherwise would. If you receive a credit for a purchase added to 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. We may apply payments and credits within balances, and among balances with the same interest rate, in any order we choose.

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

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

Qualifications & exceptions

• "In most cases" for matching the credit to the related charge.
• The plan-credit step requires a call from you.

Not stated here

• The text does not say what happens if you do not call about a plan credit.

Charges & Financial Obligations · Procedure

Interest is figured separately on each balance with the Average Daily Balance method, including new transactions

American Express calculates interest for a billing period by first figuring the interest on each balance. Balances within Pay Over Time and Cash Advance balances may have different interest rates. It uses the Average Daily Balance method (including new transactions) for each balance, and the total interest for a billing period is the sum of the interest charged on each balance.

Supporting quotations

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

Qualifications & exceptions

• Interest is computed per balance, then summed.

Charges & Financial Obligations · Procedure

Interest for a balance is ADB times DPR times days; a DPR is 1/365th of an APR

The interest charged for a balance in a billing period, except for variations caused by rounding, equals the Average Daily Balance multiplied by the Daily Periodic Rate multiplied by the number of days in the billing period. To get the ADB for a balance, American Express adds up its daily balances and divides by the number of days in the billing period. A DPR is 1/365th of an APR, rounded to one ten-thousandth of a percentage point.

Supporting quotations

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.

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.

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

Qualifications & exceptions

• Equality holds "except for variations caused by rounding".

Cross-references

• referred to by (model-proposed): The agreement says the DPRs are shown in Part 1, but this public copy lists no Daily Periodic Rate values — The reference to DPRs shown in Part 1 relies on the DPR definition and the interest formula in Part 2, but the public Part 1 shows no DPR values.

Charges & Financial Obligations · Context

The agreement says the DPRs are shown in Part 1, but this public copy lists no Daily Periodic Rate values

Part 2 states "Your DPRs are shown in How Rates and Fees Work in Part 1." The public Part 1 does not list any Daily Periodic Rate. Its How Rates and Fees Work section holds the Explanation of Variable Rates, Determining the Prime Rate, and fee and limit descriptions, and the Rates and Fees Table gives APRs as the Prime Rate plus a margin (some as a range) with no DPR values. So the DPR values for this Account are not shown in the published agreement.

Supporting quotations

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

Qualifications & exceptions

• The reference points to a Part 1 passage that this public copy does not contain.
• The DPR is defined in Part 2 as 1/365th of an APR, but that definition is not applied here to produce values.

Not stated here

• The published agreement does not show the DPRs. No DPR values are computed here from the APRs and none are taken from another agreement or from a Card Member's personal Part 1.

Cross-references

• refers to (model-proposed): Interest for a balance is ADB times DPR times days; a DPR is 1/365th of an APR — The reference to DPRs shown in Part 1 relies on the DPR definition and the interest formula in Part 2, but the public Part 1 shows no DPR values.

Charges & Financial Obligations · Context

Worked example: at a single 15.99% rate, $2,250 ADB and 30 days, the DPR is 0.0438% and interest is $29.57

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

Supporting quotations

EXAMPLE: Calculating Interest

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

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

Qualifications & exceptions

• An assumed illustration; the 15.99% rate is the example's assumption.

Not stated here

• The example's 15.99% does not correspond to a rate stated for this Account elsewhere in the public copy.

Charges & Financial Obligations · Procedure

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

American Express 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 to a daily balance as of its transaction date, except charges automatically moved from the Pay In Full balance to the Pay Over Time balance on the Closing Date, which are added as of the day after they are moved. If the daily balance is negative, it 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, except for charges automatically moved from your Pay In Full balance to your Pay Over Time balance on your Closing Date, which we add to a daily balance as of the day after they are moved to your Pay Over Time balance. If the daily balance is negative, we treat it as zero.

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

Qualifications & exceptions

• Moved charges are added to the daily balance the day after the move, matching when their interest starts.
• A negative daily balance is treated as zero.

Not stated here

• The text does not say what "appropriate adjustments" are.

Charges & Financial Obligations · Company practice

Interest compounds daily: each day's balance adds the prior day's interest

For the first day of a billing period, the beginning balance is the ending balance for the prior billing period, including unpaid interest. For the rest of the period, the beginning balance is the previous day's daily balance plus interest equal to the previous day's 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

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.

Qualifications & exceptions

• Applies to each balance on which interest is charged.

Charges & Financial Obligations · Permission or license

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

To figure the ADB and interest charges, American Express may use other formulas or methods that produce equivalent results. It also says it may 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.

Qualifications & exceptions

• Other methods must "produce equivalent results".

Not stated here

• The text does not say which types of charges might not be charged interest.

Charges & Financial Obligations · Restriction or exception

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

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

Supporting quotations

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

Qualifications & exceptions

• Limited to "reasonable" costs.

Charges & Financial Obligations · Company practice

Foreign currency charges are converted to U.S. dollars by AEEML at a rate no higher than the stated ceiling

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

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

• Conversion happens on the date American Express or its agents process the charge.
• The rate is subject to a ceiling ("no more than the highest official rate ... or the highest interbank rate").
• A rate required by law takes precedence.

Not stated here

• The text gives only a ceiling and does not state the actual conversion rate or any markup. Part 1 separately states a Foreign Transaction fee of None.

Charges & Financial Obligations · User right or choice

Washington notice: no interest owed that results solely from a late-posted credit, as the notice describes

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

• Addressed to residents of Washington State.
• The notice says "if you have notified us of the merchant's delay in posting such credit", then separately names American Express's own failure to post the credit.
• Covers interest charges that result solely from the stated delays.

Not stated here

• The cited statute is named but its text is not supplied here, and its meaning is not interpreted beyond what the notice states.
• The sentence does not make clear whether the condition "if you have notified us" also applies to American Express's own failure to post the credit within three working days.