American Express Credit Card Information
Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 1760
Location: Illinois
Posted: Sun Nov 16, 2003 6:36 pm
americanexpress.com/homepage/mt_personal_new.shtml
Blue from American Express®
Annual Percentage Rate (APR) for Purchases 0.00%
Introductory rate for Purchases during the first six months of Cardmembership. Then, a fixed rate of 7.99%, 9.99%, 12.99% or 14.99%, depending on our review of your application.
Other APRs Balance Transfer APR: A fixed rate of 7.99% for life of the balance (until the balance is completely paid off), on BT requests submitted with this application. Then the standard APR for Purchases will apply.
Cash Advance APR: 18.99%.
Fixed APRs of 17.99% for defaulted accounts; 23.99% for seriously defaulted accounts.
* * Your account is reviewed monthly & will be considered in default if minimum payments are not timely paid one time, or seriously in default if minimum payments are not timely paid two or more times, your account is overlimit three or more times, you pay with a check that is returned by your bank, any account terms are breached, or the account is otherwise in default as defined in the Cardmember Agreement, in each case during any portion of the 12-month period ending with the Closing Date of the current billing period (the "review period").
If your account is in default, you will be assessed a fixed APR of 17.99% for all balances excluding Cash Advances, or if seriously defaulted, 23.99% for all balances.
Defaulted accounts will forfeit the introductory & any promotional rate.
If a promotional rate is in effect, that rate will apply & expire according to the promotional terms disclosed to you when you were offered the account or promotional opportunity.
We may apply payments & credits first to your balances with lower APRs (including balances with promotional APRs, such as balances transferred pursuant to this offer) before balances with higher APRs. This will result in the lower APR balances being paid before the higher APR balances.
Variable Rate Information
Your APR may vary.
The rate for Cash Advances is determined monthly by adding 14.99% to the Prime Rate. **
** The Prime Rate for billing periods ending in any month is the higher of the Prime Rate(s) published in The Wall Street Journal on the 1st or 20th day (or if such date is not on a business day, the next business day) of the prior month.
Variable APRs are as of 11/01/03.
Grace Period for repayment of the balance for Purchases 20 days for purchases, if full balance is paid by due date.
No Finance Charges will be assessed for Purchases on any billing statement where the Previous Balance is zero or a credit balance or if you have paid the full Previous Balance by the Payment Due Date shown on the previous billing statement.
There is no grace period for Cash Advances, Balance Transfers and certain promotional offers.
The Payment Due Date will be no less than 20 days after the closing date of the billing statement.
Method of computing the balance for Purchases Average daily balance (including new purchases).
Annual Fee No Annual Fee
Minimum Finance Charge $0.50
Other Fees:
Late Payment Fee: $15 on balances less than $100, $29 on balances of $100 to $1,000, and $35 on balances greater than $1,000.
Overlimit Fee: $29.
Fee for Cash Advances through Express Cash: 3% of the cash transaction, $5.00 minimum with no maximum.
There is no balance transfer fee associated with this offer. However, future balance transfers may incur a fee of 3% of the amount transferred with a minimum of $5, and a maximum of $50.
The line of credit offered with the "Card" is up to $100,000.
The minimum income required to qualify for the "Card" is $20,000. If you are an existing American Express Cardmember there is no minimum income requirement to qualify for the "Card".
Fees
We may charge the following fees, subject to applicable law: Checks A fee of up to $29 will be charged for any payment to your Account that is not honored for its full amount. Also, if you use the Card to cash a check at an American Express Travel Service Office or other authorized location and the check is not honored for its full amount, we may charge to your Account the portion of the check that was not honored and we may charge an amount not to exceed $29.
Wire Transfers If you initiate and are authorized to complete a wire transfer from your Optima Account, we may charge your Account a fee of $15.
Copies of Statements and Checks
If you request a copy of any billing statement, or any check you have drawn on your Account, we may charge your Account a fee of $3 for each billing statement or check.
We will not charge your Account for billing statements for the three months prior to the month of your request.
New York residents: If you would like to receive cancelled checks with your billing statement for a fee, you may contact us.
Stop Payment Orders
If you request us to stop payment on a check drawn on your Account, we may charge your Account a fee of $29.
Over The Limit Fee
We may charge your Account a fee of $29 in each billing period if a balance on your Account exceeds your credit limit. We may impose the fee even if we authorize or impose any Charges that cause your balance to exceed your credit limit.
Account Re-Opening Fee
If your account is considered in default for any reason and is cancelled, and you request reinstatement, we may charge your Account a re-opening fee of $25 if such request is honored.
Check Usage/Balance Transfer Transaction Fee
We may charge your Account a transaction fee for each balance transfer that you initiate or for any all purpose check you utilize, whose promotional term has expired. This fee will be 3% of the amount transferred with a minimum of $5 and a maximum of $50.
The information in this application is accurate as of 11/01/03. This information may have changed after that date. To find out about any changes, please call us at 1-800-223-2670.
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Forum Moderator
Joined: 07 Nov 2003
Posts: 1760
Location: Illinois
Posted: Sun Nov 16, 2003 6:36 pm
americanexpress.com/homepage/mt_personal_new.shtml
Blue from American Express®
Annual Percentage Rate (APR) for Purchases 0.00%
Introductory rate for Purchases during the first six months of Cardmembership. Then, a fixed rate of 7.99%, 9.99%, 12.99% or 14.99%, depending on our review of your application.
Other APRs Balance Transfer APR: A fixed rate of 7.99% for life of the balance (until the balance is completely paid off), on BT requests submitted with this application. Then the standard APR for Purchases will apply.
Cash Advance APR: 18.99%.
Fixed APRs of 17.99% for defaulted accounts; 23.99% for seriously defaulted accounts.
* * Your account is reviewed monthly & will be considered in default if minimum payments are not timely paid one time, or seriously in default if minimum payments are not timely paid two or more times, your account is overlimit three or more times, you pay with a check that is returned by your bank, any account terms are breached, or the account is otherwise in default as defined in the Cardmember Agreement, in each case during any portion of the 12-month period ending with the Closing Date of the current billing period (the "review period").
If your account is in default, you will be assessed a fixed APR of 17.99% for all balances excluding Cash Advances, or if seriously defaulted, 23.99% for all balances.
Defaulted accounts will forfeit the introductory & any promotional rate.
If a promotional rate is in effect, that rate will apply & expire according to the promotional terms disclosed to you when you were offered the account or promotional opportunity.
We may apply payments & credits first to your balances with lower APRs (including balances with promotional APRs, such as balances transferred pursuant to this offer) before balances with higher APRs. This will result in the lower APR balances being paid before the higher APR balances.
Variable Rate Information
Your APR may vary.
The rate for Cash Advances is determined monthly by adding 14.99% to the Prime Rate. **
** The Prime Rate for billing periods ending in any month is the higher of the Prime Rate(s) published in The Wall Street Journal on the 1st or 20th day (or if such date is not on a business day, the next business day) of the prior month.
Variable APRs are as of 11/01/03.
Grace Period for repayment of the balance for Purchases 20 days for purchases, if full balance is paid by due date.
No Finance Charges will be assessed for Purchases on any billing statement where the Previous Balance is zero or a credit balance or if you have paid the full Previous Balance by the Payment Due Date shown on the previous billing statement.
There is no grace period for Cash Advances, Balance Transfers and certain promotional offers.
The Payment Due Date will be no less than 20 days after the closing date of the billing statement.
Method of computing the balance for Purchases Average daily balance (including new purchases).
Annual Fee No Annual Fee
Minimum Finance Charge $0.50
Other Fees:
Late Payment Fee: $15 on balances less than $100, $29 on balances of $100 to $1,000, and $35 on balances greater than $1,000.
Overlimit Fee: $29.
Fee for Cash Advances through Express Cash: 3% of the cash transaction, $5.00 minimum with no maximum.
There is no balance transfer fee associated with this offer. However, future balance transfers may incur a fee of 3% of the amount transferred with a minimum of $5, and a maximum of $50.
The line of credit offered with the "Card" is up to $100,000.
The minimum income required to qualify for the "Card" is $20,000. If you are an existing American Express Cardmember there is no minimum income requirement to qualify for the "Card".
Fees
We may charge the following fees, subject to applicable law: Checks A fee of up to $29 will be charged for any payment to your Account that is not honored for its full amount. Also, if you use the Card to cash a check at an American Express Travel Service Office or other authorized location and the check is not honored for its full amount, we may charge to your Account the portion of the check that was not honored and we may charge an amount not to exceed $29.
Wire Transfers If you initiate and are authorized to complete a wire transfer from your Optima Account, we may charge your Account a fee of $15.
Copies of Statements and Checks
If you request a copy of any billing statement, or any check you have drawn on your Account, we may charge your Account a fee of $3 for each billing statement or check.
We will not charge your Account for billing statements for the three months prior to the month of your request.
New York residents: If you would like to receive cancelled checks with your billing statement for a fee, you may contact us.
Stop Payment Orders
If you request us to stop payment on a check drawn on your Account, we may charge your Account a fee of $29.
Over The Limit Fee
We may charge your Account a fee of $29 in each billing period if a balance on your Account exceeds your credit limit. We may impose the fee even if we authorize or impose any Charges that cause your balance to exceed your credit limit.
Account Re-Opening Fee
If your account is considered in default for any reason and is cancelled, and you request reinstatement, we may charge your Account a re-opening fee of $25 if such request is honored.
Check Usage/Balance Transfer Transaction Fee
We may charge your Account a transaction fee for each balance transfer that you initiate or for any all purpose check you utilize, whose promotional term has expired. This fee will be 3% of the amount transferred with a minimum of $5 and a maximum of $50.
The information in this application is accurate as of 11/01/03. This information may have changed after that date. To find out about any changes, please call us at 1-800-223-2670.
View our latest credit card ratings!
posted by CardRatings.com at 9:05 AM
8 Comments:
Posted: Mon Nov 17, 2003 6:01 am
I love AmEx cards. The customer service and their web site are excellent. The problem is they are not accepted everywhere. I am just wondering how AmEx can compete with Visa and Master?
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Posted: Wed Nov 19, 2003 2:13 pm
the best known rate on blue from amex which nightstar is refering to is 5.99 apr on purchases and 3.99 apr on bts for life of transfer.....
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Author: nativechild48
Credit Expert (100+ Posts)
Joined: 10 Nov 2003
Posts: 312
Posted: Sun Dec 07, 2003 4:51 pm
I to like Amex, but they will never compete with Visa and MC because merchants don't like to wait on their money. Also, the Amex bank "Centurion" is not FDIC.
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Author: Guest
Posted: Sun Dec 07, 2003 5:35 pm
I originally got hit with the 14.99 rate so i just barely got in. After 2years i got 7.99. I love this card!
didn't know bout the 5.9 i'll try to get that,
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Author: Eugene
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 14 May 2003
Posts: 262
Location: Brooklyn, NY
Posted: Sun Dec 07, 2003 10:21 pm
Quote:
I to like Amex, but they will never compete with Visa and MC because merchants don't like to wait on their money.
Well, apparently, they are competing just fine, because they are accepted by merchants and used by consumers practically everywhere. I very rarely can use my Visa or Mastercard where I canNOT use AmEx.
Merchants, credit cards - all that is fine but you are forgetting about consumers. As long as there is a significant group of people who require from merchants to accept AmEx, AmEx will be accepted. As they say, it's a consumer-driven market" (although I never understood what it really means).
And I should say, there is a significant group of people who do like AmEx's cards more than those from any other issuer. There used to be a time when I never thought I'd find myself among them, but now I do, even though I do see a lot of DISadvantages of AmEx. They are geniuses when it comes to earning adn retaining customer loyalty and pulling some marketing tricks.
Quote:
Also, the Amex bank "Centurion" is not FDIC.
I am confused what you mean here. First, FDIC insurance applies only when we are talking about bank deposits, not credit cards. Second, AmEx Centurion IS FDIC-insured, just like any other bank in the US. (I don't think you can even be called "a bank" in the US without FDIC insurance).
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Author: Guest
Posted: Mon Dec 08, 2003 3:08 am
Believe it or not, Discover cards are accepted in more places than AmEx cards. Most merchants don't take AmEx cards because AmEx charge them more fees than Visa and Master do. From paying tuition fees in college to purchasing grocery, I can't use my AmEx cards. Can I say that AmEx is high end card? I don't think
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Author: Guest
Posted: Mon Dec 08, 2003 11:18 am
But most notable places do take AMEX, but of course not every "day-to-day" businesses do because it costs more money and does not justify the cost. Never hurts to have one amex card though for which it was originally meant for.
Travel and Entertainment - For which most if not all T&E places accept.
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Author: Eugene
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 14 May 2003
Posts: 262
Location: Brooklyn, NY
Posted: Mon Dec 08, 2003 5:30 pm
Quote:
Believe it or not, Discover cards are accepted in more places than AmEx cards.
That may be true, but that's not the only factor that determines what card a consumer is going to use, not even one of the most important factors.
Discover's reward structure is much worse than AmEx's with my spending patterns. Heck, even a lot of Visas and Mastercards have much better rewards than discover, and they certainly are accepted more often than Discover. So, I personally do not see a point in having Discover at all. I'll use AmEx and a V/MC in rare instances when AmEx is not accepted.
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