Card Member Agreement: Part 1 of 3
Issuer: American Express National Bank
American Express Cash Magnet ® Card
Rates and Fees Table
Interest Rates Annual Percentage Rate (APR) for · Prime Rate + 12.74% to Prime Rate + 21.74% This is a variable APR. See Explanation of Variable Rates below.
Purchases APR For Balance Transfers · Prime Rate + 12.74% to Prime Rate + 21.74% for any balance transfer requests we may accept. This is a variable APR. See Explanation of Variable Rates below.
APR for Cash Advances · Prime Rate + 21.99% This is a variable APR. See Explanation of Variable Rates below.
Penalty APR and When it Applies · Prime Rate + 26.74% This is a variable APR. See Explanation of Variable Rates below. 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. How Long Will the Penalty APR Apply? If the penalty APR is applied, it will apply for at least 6 months. We will review your Account every 6 months after the penalty APR is applied. The penalty APR will continue to apply until you have made timely payments with no returned payments during the 6 months being reviewed.
Paying Interest · 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 and balance transfers on the transaction date.
Plan Fee (Fixed Finance Charge) · 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.
For Credit Card Tips from the Consumer Financial Protection Bureau · To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.
Fees
Annual Fee · None
Transaction Fees • Balance Transfer • Cash Advance • Foreign Transaction · Either $5 or 3% of the amount of each transfer, whichever is greater. Either $10 or 5% of the amount of each cash advance, whichever is greater. 2.7% of each transaction after conversion to US dollars .
Penalty Fees • Late Payment • Returned Payment • Overlimit · Up to $40 . Up to $40 . None
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.
