An Amex purchase finance charge starts as low as 13.24% for the Blue Business Plus card, up to as much as 26.74% on the Delta SkyMiles cards. Purchase finance charges are often presented as an Annual Percentage Rate (APR) and are in a range from low to high. Rates are also based on creditworthiness. The higher your credit profile, the better your odds of landing a rate at the low end of the scale.
Amex cards come with different purchase finance charges, or interest rates. Amex typically charges interest on purchases beginning on the date of the transaction. Interest also applies to cash advances and balance transfers, and Amex often charges higher rates for those transactions.
Some Amex cards, such as the Blue Cash Preferred card, come with introductory 0% interest on purchases. That means the purchase finance charge does not apply throughout the introductory period. Make sure you know when the introductory 0% period expires, and what your new purchase finance charge will be.
Amex purchase finance charges:
13.24% - 21.24% (V): Blue Business Plus (0% for 15 months).
14.24% - 21.24% (V): SimplyCash Plus Business (0% for 15 months).
14.99 – 24.99% (V): EveryDay Preferred (0% for 12 months)
14.99% - 25.99% (V) : 5 Amex cards - Blue Cash EveryDay, Cash Magnet (0% for 15 months); Blue Cash Preferred; EveryDay Card (after 0% for 12 months), and Hilton Honors.
17.74% - 26.74% (V) Purchases APR: 11 Amex cards. Blue Delta SkyMiles and Business cards; Gold Delta SkyMiles and Business cards; Platinum Delta SkyMiles and Business (0% for 6 months) cards; and Platinum Reserve SkyMiles and Business (0% for 6 months) cards. Also includes Starwood Preferred Guest Business card.
Not all Amex credit cards come with a purchase finance charge. Amex has a number of charge cards such as the Gold and Platinum cards that require you to pay your entire balance in full each month. Amex charge cards will hit you with a 29.99% Penalty APR if you don’t pay the entire balance. You’ll also be charged a $38 late fee. The penalty rate will apply for the next six months, and will be lifted if you pay your balance in full – and on time during those six months.
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