Calculating interest
American Express Credit Cards are a convenient way to pay for
everyday purchases. A credit card is a lending product. When you
make a transaction using your Card, we are lending you that amount
of money and you are essentially taking out a loan. As an American
Express Cardmember, you have the flexibility to pay back the
outstanding either paying the card in full each month or only
paying a portion of the total outstanding amount within a due date.
If you choose to pay the portion or minimum amount then the
interest will be charged on a daily basis until full amount is
settled.
** Interest is calculated on a daily basis and applied to the
statement at time of cycle cut
When interest is charged
If you always pay your balance in full so that we receive your
payment by the payment due date, interest will not be applied to
any of your purchases. If you choose to carry a balance or if we
receive your payment late, interest charges are calculated and
charged to your account at a predetermined annual percentage rate
(APR) starting from the posting date. Interest is always charged on
balance transfers and funds advances starting from the day the
transaction occurs.
