Credit Reform

The Credit Reform Calendar

• Advance Notice on
  Account Term Changes
• How Many Days You
  Have to Pay
• No More Over-limit Fees

• How Your Payments Are Applied
• New Information Included on Your Statement
• How Finance Charges Are Assessed
• Applying for a Card as a Young Adult
• Cardmember Agreement Available Online
• Same Monthly Due Date

Check back at a later
date for updates.

• New Statement Design

Close

New Statement Design
Effective July 2010

We’re redesigning the American Express billing statement to meet new requirements and to make it easier to read. You’ll see this new statement starting in July 2010.

There are new laws and regulations impacting credit card companies, and that’s driving change. Here, you can see how some of these resulting changes, effective over the next year, will affect you as an American Express^® Cardmember.

What is the Credit CARD Act?

The Credit Card Accountability and Disclosure Act of 2009 was signed May 22, 2009 to enact comprehensive credit card reform.

The Act protects consumer credit card users from unfair practices such as arbitrary interest rate increases and misleading terms. Among other reforms, it also gives consumers the right to opt out of certain term changes, and sets new requirements for how account payments are applied.

Will these reforms change the way American Express does business?

We’ve always strived to treat our Cardmembers fairly and with respect. In fact, many of the new reforms don’t affect how we do business—we believe this highlights the straightforward way we’ve done business since launching the first charge card more than 50 years ago. However, we will be making some changes and will use this website to help you, our Cardmembers, understand these changes.

We welcome these reforms because it makes our industry as a whole fairer to consumers. And we are happy to adopt changes that make it easier for our Cardmembers to manage their credit.

Why can’t all of these changes be enacted immediately?

We, along with the other credit card companies, need enough time to prepare. Behind the scenes, we’re updating our systems and communications to provide the most seamless and helpful experience possible for our Cardmembers.