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 loan so that we receive your payment in full by the payment due date or over a longer period of time. A minimum payment is always due by the payment due date every month.
When you use your Credit Card, you are borrowing money – and will be charged interest unless you repay the full balance within the specified period. The amount of interest you will be charged depends upon:
- The interest rate of your Credit Card
- The amount you spend
- When you spend it
- When you pay your Credit Card bill
When you receive your statements, the details of your purchases and the amount of interest you have been charged will be clearly displayed.