When interest is charged


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.

Managing interest charges


How to manage interest charges

The best way to reduce your interest charges is to make your payments early or pay your balance in full and on time.

Remember, the processing time varies by financial institution and by method of payment (Internet, mail, telephone and bank branch).
Direct Debit service is a great tool to help you maintain your preferred interest rate.

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