The Credit Reform Calendar
Check back at a laterdate for updates.
Check back at a laterdate for updates.
No Over-limit Fees
No More Over-limit Fees
Although it’s not required by the new credit card laws, American Express eliminated all over-limit fees effective October 1, 2009.
What is an over-limit fee?
Some credit card companies charge a fee when you spend more than the card’s credit limit. Beginning in August 2009, new laws require that consumers opt in or otherwise give their approval to allow spending over that limit in exchange for paying a fee.
Will American Express charge over-limit fees on consumer Cards?
No. Effective October 1, 2009, we eliminated this fee.
TIP: Know Your Limit
Even though you won’t be charged a fee, it’s still important to know your credit limit. Check your balance online, or call the number on the back of your Card before you make a new charge if you’re worried you may go over the limit or that your Card may be declined.