American ExpressAmerican ExpressAmerican ExpressAmerican ExpressAmerican Express

Welcome to the Help Centre

When or What is my minimum payment due on my American Express Credit Card?

The Minimum Payment is the lesser of (1) or (2), calculated as follows:

(1) the total of: (a) any previously billed minimum payment that remains unpaid on the Closing Date of the statement + (b) if applicable, installment amounts (including installment fees) charged on the billing statement PLUS

(for non-Quebec residents): (c) $10 + (d) Interest, Overlimit fees and Dishonoured Payment fees; or 

(for Quebec residents whose accounts were opened on or after August 1, 2019): (c) 5% of the remaining balance owing that month.                                                                        

(for Quebec residents whose accounts were opened prior to August 1, 2019): (c) 2% for statements dated on or after April 1, 2020, and the following percentages apply for statements dated on or after the following dates: 

  • August 1, 2020 – 2.5%; 
  • August 1, 2021 – 3%; 
  • August 1, 2022 – 3.5%; 
  • August 1, 2023 – 4%; 
  • August 1, 2024 – 4.5%; 
  • August 1, 2025 – 5%.

OR (2) the entire new balance of the billing statement.