Your American Express Card comes with a variety of tools that can help you manage your credit card. Here's what you need to know.
A key benefit of a credit card is their flexibility, you can purchase things now and pay for them in the future either in one go or in monthly instalments.
When you open your Account you were given a credit limit which is the maximum amount you can spend.
You can change your credit limit at any time. If you decide you would like more credit, you can request a credit limit increase by logging into your online Account or by calling the number on the back of your Card.
Before you apply for an increase, it is important that you consider your personal financial circumstances. It is required that we assess your capacity to repay the higher limit before we approve it.
If your limit is higher than you need it to be, you can request a credit limit decrease as long as it remains above the minimum limit and your total balance owing by calling the number on the back of your Card.
From time to time we may offer to increase your credit limit if you meet certain criteria. To manage how we send you these offers, or to opt out of this, you can log into your online account or call the number on the back of your Card.
If you’re looking for a Card that does not have a credit limit, then you may want to consider a Charge Card. These are Cards with no pre-set spending limits, and you have to repay your balance in full by the due date to avoid incurring fees.
This is the maximum amount of credit you can spend.
When your statement arrives, you will have a choice of repayment options. You can pay off the entire Credit Card bill on, or before, the statement due date – in which case you’ll avoid paying more interest.
You can choose to spread your Credit Card repayments out over time by paying at least the minimum monthly repayment amount. This option will mean you will be paying more interest and we would advise you not to do this.
When you use your Credit Card, you are borrowing money from a lender – and will be charged interest unless you repay the full closing balance within a specified period. Interest is usually expressed as an annual percentage rate, also known as the interest rate.
Get informed instantly with text and email alerts. There’s a range of useful alerts to choose from. You choose when you’d like to receive your alerts and whether you prefer mobile or email. You can also place your alerts on hold when you travel or change the time zone they arrive in.
Login to your account regularly, or download the app to access your current statement and Account details.
Make sure you know when your Credit Card repayments are due, and, if possible, pay off as much as you can to reduce the amount of interest payable.
Credit and Charge Cards Explained
Has talk of interest, annual fees, rates and percentages left you feeling confused?
Our simple Credit and Charge Card Guides are a great place to start.
How Credit Cards and Charge Cards work
Where is American Express accepted
What Credit Card fees am I expected to pay
How to apply for a Credit Card
