Amex Credit Card Fees and Charges

American Express credit cardholders have to pay an interest rate or finance charge on cash withdrawals, balance transfers or if they have an outstanding bill amount after the credit card bill payment due date. Given below are the interest rates charged on American Express credit cards:

American Express Credit Cards	Interest Rate
All American Express Credit Cards	3.5% per month
Overdue interest rates if minimum dues are not paid by the due date:
American Express Platinum Reserve℠ & Platinum Travel Credit Cards – if minimum dues payment missed thrice in 12 months	3.99% per month
Other American Express Credit Cards – if minimum dues payment missed twice in 12 months	3.99% per month

Here, a 3.5% monthly interest rate is applicable on all cards. However, if the cardmember misses the minimum dues payment by the respective due date then an overdue interest rate of 3.99% per month is applied in place of 3.5% for the next 12 months as described in the table above. If you repay minimum credit card dues or more by the due date for at least 11 months during these 12 months, then the revised interest charges revert back to the usual 3.5% per month.

What is the Interest-free Period on American Express Credit Cards?

The payment due date for American Express credit cardmembers can vary from 18 to 23 days from the date of credit card statement generation. So, this makes their total interest-free period last up to 48 days within a cycle. During this time period, the card users are not charged with interest if they have not availed balance transfer or cash withdrawal facilities, and if they have paid full closing balance by the due date on the previous monthly statement.

For instance, let us assume that your credit card statement is generated on the 1st of every month and your payment due date is 17th October. According to this, if you make a transaction on the 2nd September, then you get 46 days (2nd Sep to 17th Oct) of interest-free period. Whereas if you make a payment on 25th Sep, then this period will shorten to just 23 days for that transaction.

3.5% of the cash amount withdrawn or Rs. 250, whichever is higher

For instance, if you withdraw Rs. 20,000, the applicable fee will be Rs. 700, as 3.5% of Rs. 20,000 is Rs. 700. However, if you withdraw Rs. 6,000, the cash withdrawal fee of Rs. 250 will be charged, instead of Rs. 210.

American Express Credit Card Cash Withdrawal Limit

American Express credit card users can make cash withdrawals of up to USD 333 or its equivalent, or 20% of their credit limit, whichever is lower. They can avail this amount every 14 days. However, the cash withdrawal facility is not available in India at the moment, though the cardholders can still access this facility at international locations.

Did You Know: When you withdraw cash, the finance charges are applicable along with the cash advance fee. Therefore, it is advisable not to withdraw cash using your credit cards as they incur high interest charges. You should use this facility only in the case of emergency or if it is absolutely necessary.

American Express offers a diverse range of credit cards with varied features to its customers. These credit cards with their features and benefits can be accessed by paying the annual card fee which differs according to the card variant you own. Few of these credit cards also come with an option to waive off their annual fees on reaching certain spending milestones. Refer to the table below for detailed information on credit card fees and waiver conditions:

Credit Cards	Joining Fee	Annual Fee	Waiver Condition
American Express Platinum Reserve℠ Credit Card	Rs. 5,000	Rs. 10,000	–
American Express Platinum Travel Credit Card	Rs. 3,500	Rs. 5,000	–
American Express Membership Rewards® Credit Card	Rs. 1,000	Rs. 4,500	100% waived on Rs. 1.5 lakh annual spends; 50% waived on Rs. 90,000 to Rs. 1,49,999 annual spends
American Express Gold Credit Card	Rs. 2,000	Rs. 2,000	–
American Express PAYBACK Credit Card	Rs. 750	Rs. 1,500	–
American Express Smart Earn™ Credit Card	Rs. 495	Rs. 495	On annual spends of Rs. 40,000

Forex mark-up or foreign currency exchange mark-up fee is charged on the international transactions that you make using your credit cards. This fee is charged on both online and offline transactions made in foreign currency as well as credit card ATM cash withdrawals made outside India. Generally, American Express charges a foreign currency exchange mark-up fee of 3.50% of the transaction value to its credit card users.

In case the credit cardmembers do not pay the minimum due amount of their monthly credit card bill, then American Express charges a late payment fee in addition to the interest charges. Based on your credit card outstanding amount, the late payment charges applicable on American Express credit cards are as follows:

30% up to Rs. 1,000 + taxes of the minimum payment due amount or Rs. 500 + taxes, whichever is higher

American Express charges an over limit fee of Rs. 500 every time you exceed your credit card limit. You have to pay this fee whenever the outstanding balance on your credit card account is higher than the assigned credit limit. This may happen either due to your overspending or even if your balance exceeds the credit limit because of any additional fees and charges that are levied to your account.