Key Fact Statement
This Key Fact Statement contains the important aspects of the Card such as rate of interest, quantum
of charges, among others and should be read in conjunction with American Express® Credit Cards Most
Important Terms & Conditions as communicated at
https://www.americanexpress.com/content/dam/amex/in/legal/mitc/Lending_MITC_English.pdf.
American Express reserves the right to change Terms & Conditions and/or Interest, Fees and Charges
at any point with 30 days prior notice. The Key Fact Statement updated as on July 1, 2024 and
circulated by American Express Banking Corp. in compliance to Master Direction – Credit Card and
Debit Card – Issuance and Conduct Directions, 2022 is as follows:
A. Fees and Charges
(i) Joining and annual membership fees for primary Cardholder and for add-on Cardholder/s
Product Membership Standard Finance Charges for Goods & Services,
Fee Supplementary Cash & Balance Transfer
(Subject to Card Fee* Monthly Annually Monthly (In Annually
change basis cases of (In cases
offer) default) of default)
American ₹50,000(Lifetime ₹1,500 3.5% 42% 3.99% 47.88%
Express Foundation Fee)
Platinum ₹10,000 (Annual
ReserveSM Maintenance
Credit Card Fee)
Option 1***
American ₹10,000 (1st ₹1,500 3.5% 42% 3.99% 47.88%
Express Year)
Platinum ₹10,000 (2nd
ReserveSM Year onwards)
Credit Card
Option2
American ₹3,500(1st Year) ₹1,500 3.5% 42% 3.99% 47.88%
Express ₹5,000(2nd Year
Platinum Travel onwards)
Credit Card
American ₹1,000 (1st year) ₹1,500 3.5% 42% 3.99% 47.88%
Express ₹4,500(2nd year
Membership onwards)
Rewards®
Credit Card#
American ₹2,000 (1st Year) ₹1,000 3.5% 42% 3.99% 47.88%
Express Gold ₹2,000 (2nd Year
Credit Card onwards)
American ₹750 (1st year) ₹750 3.5% 42% 3.99% 47.88%
Express ₹1,500 (2nd year
PAYBACK onwards)
Credit Card
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American ₹495 (1st Year) ₹250 3.5% 42% 3.99% 47.88%
Express Smart ₹495## (2nd Year
Earn™ Credit Onwards)
Card
*Up to 4 Supplementary Cards for American Express Platinum ReserveSM Credit Card, 1 Card for American Express PAYBACK Credit Card/American Express Gold Credit
Card/ American Express SmartEarn™ Credit Card, and up to 2 Supplementary Cards for all other Credit Cards are complimentary with the Basic Credit Card, post which the
Standard Supplementary Card Fee will be applicable.
#On full fee American Express Membership Credit Card product i.e. where first year fee is ₹1,000 and annual renewal fees of ₹4,500, the subsequent Annual Membership
Renewal fee of ₹4,500 will be 100% waived off if total spends on American Express Credit Card in the immediately preceding membership year is ₹1,50,000 and above; if total
spends on American Express Credit Card in the immediately preceding membership year is between ₹90,000 to ₹1,49,999, only 50% will be waived off.
***The Lifetime Foundation Membership Fee is payable at the start of the Cardmembership and is Charged only once during the membership period and is valid until the Card
is cancelled. The Lifetime Foundation Membership Fee may be paid by the member in full or in five equal monthly installments. Once the Cardmember accepts the membership
by usage of the Card, the Cardmember is liable to pay the full Lifetime Foundation Membership Fee. This Membership Fee is neither refundable nor transferable for any other
products or facilities that may be available from American Express to the Cardmember. It is reiterated out of abundant caution that Cardmember is liable to pay the full Lifetime
3 Foundation Membership Fee, when he avails the membership and chooses to pay through installments, even if the Cardmember cancels the membership, prior to the full
payment of the Lifetime Foundation Membership Fees. Upon payment of the full Membership Fee, the Basic Cardmember becomes eligible for the Membership Welcome gifts,
if applicable. An Annual Maintenance Fee of ₹10,000 p.a. will be Charged on the American Express Platinum Reserve Credit Card on renewal and the same will be waived if
your spending in the normal course is above ₹1,90,000 on the American Express Platinum Reserve Credit Card in the twelve months immediately preceding the date of renewal.
This Annual Maintenance Fee covers the Basic Card, one Additional Card for the Basic Cardmember and four Supplementary Cards issued on the Basic Card Account.
##
Annual fee of INR 495 will be 100% waived off if total spends on American Express SmartEarn™ Credit Card in the immediately preceding card membership year is INR
40,000 or more.
(ii) Service Charge Levied for transactions
Description of Service/ Service/Transaction Charges
Transaction
Cash Advance Fee The transaction fee of 3.5% of the Cash Advance Amount, subject to
a minimum of ₹250 is levied every time a Cardmember withdraws cash
on his Card.
Duplicate Statement Fee ₹100 per statement for statements older than 3 months
Cheque/ECS/NACH Return ₹250 per Returned Instrument
Fee
Over Limit Charge ₹500 per instance. Effective 1 October 2022, overlimit transactions on
your American Express Card has been temporarily disabled. However,
the overlimit fee will be applicable on any issuer-initiated debit of fee
and charges which make take the over the assigned credit limit
Record of Charge/Summary ₹100 per Retrieval
of Charge Retrieval Fee
Surcharge on Purchase of 1.8% of the transaction value if booked on the internet (IRCTC)
Railway Ticket subject to a minimum of ₹10
Convenience Fee on Fuel 0% for HPCL transaction less than ₹5,000 • 1% fee per transaction is
Purchase applicable for all HPCL transactions on and above ₹5,000 • 1% of the
transaction value subject to a minimum of ₹10 + applicable taxes, will
be Charged as Convenience Fee at fuel stations operated by the
Public Sector Oil Marketing Companies BPCL and IOCL • 2.5% of the
transaction value subject to a minimum of ₹10 + applicable taxes, will
be Charged as Convenience Fee at fuel stations of all other Oil
Marketing Companies (except HPCL, BPCL and IOCL)
FCY Transactions Currency Conversion Factor Assessment: 3.50%
Applicable Taxes: Any applicable tax levied by the competent authorities will be levied as per prevailing rate on Fee, interest and any other Service Charges, or as
applicable.
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(iii) Interest Free (Grace) Period: Card member can enjoy up to 48 days free credit without any Interest
Charges levied to the Credit Card Account. Interest is not payable on Charges other than Cash
Advances and Balance Transfers only if: (a) Cardmember has paid the full Closing Balance on the
previous monthly statement by the payment due date, (b) Cardmember pays the full Closing Balance
on the current monthly statement by the payment due date and (c) Cardmember has not availed of any
Cash Advance or Balance Transfer.
The payment due date of a customer will be dynamic in nature and will vary from 18 days to 23 days
from the statement generation date, depending on his previous month’s payment behavior.
Illustration: Transaction date: 2nd June, Billing Cycle date: 1st of every month, Payment due date:
18th July, Interest free period = 2ndJune – 18th July = 47 days.
The Bank shall report a credit card account as 'past due' to credit information companies (CICs) and
levy late payment charge when a credit card account remains 'past due' for more than three days.
Interest free (grace) period will be lost if any Cardmember has not paid the full Closing Balance on the
previous monthly statement by the payment due date even if the Minimum Payment Due has been
paid.
(iv) Finance (Interest) Charges for both Revolving credit and Cash Advances:
Interest is payable at the monthly percentage rate on all Charges from the date the Cardmember incurs
the transaction until they are fully repaid, except where an interest free period applies.
Daily Interest Calculation
(The Daily Balance of Charges on which interest is payable) * (The Daily Percentage Rate) Daily
Percentage Rate Calculation: (Monthly Rate * 12) / 365
(v) Overdue Interest Charges - to be given on monthly and annualised basis:
For American Express Platinum ReserveSM Credit Card, American Express Platinum Travel Credit Card
Cardmember will be charged a revised interest rate of 3.99% per month if the Minimum Payment Due
is not paid by the due date thrice in a 12-month period.
For all other Credit Cards, Cardmember will be charged a revised interest rate of 3.99% per month if
the Minimum Payment Due is not paid by the due date twice in a 12-month period. The monthly
statement of account will reflect the changed rate. This rate will be applicable for a period of 12 months
before it is reviewed. By paying the Minimum Payment Due or more by the due date for at least 11
times in the next 12 months, the interest rate charged will revert to rate applicable as per clause (a) (i).
(vi) Charges in case of default: 30% of Minimum Amount Due subject to minimum of ₹500 and
maximum of ₹1,000, plus applicable taxes will be applicable to the Card account.
B. Drawal Limits:
(i) Credit Limit and Available Credit Limit: The Card Carrier enclosing the Credit Card will show the
initial Credit Limit applicable to Cardmember’s Account. American Express will notify the Credit Limit
and Available Credit Limit to the Cardmember from time to time on the monthly Card statement. Any
request to increase the Credit Limit post the approval of the application will be reviewed by the Bank
only after the Bank receives a request from the customer & any documents that may be asked for. The
Bank basis an internal review reserves the right to decline the request.
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(ii) Cash Withdrawal Limit: Cardmembers may access up to a certain amount of Cash Advances. Please
note that Finance Charges on cash advances are levied from the very next day. Cash withdrawals will
be allowed upto ₹25,000 every 14 days or 20% of credit limit, whichever is lower.
C. Billing:
(i) Billing Statements – Periodicity and Mode of Sending: American Express will send Cardmember a
statement once a month. The statement of Account will be sent to Cardmembers through
courier/regular post or through an online link on the Cardmembers’ registered e-mail address with
American Express. Cardmembers can also register online and view the Card statements online by
logging on to americanexpress.co.in.
(ii) Minimum amount Payable: The monthly statement will show the minimum payment the Cardmember
needs to pay American Express which will be sum of 5% of the principal amount or minimum of ₹100
whichever is greater and the total sum of any Card Fees, Charges, Taxes and, Interest and any
installment due under any extended/deferred payment plan that American Express may offer.
(iii) Method of Payment: Cardmembers are required to make the payment in Indian Rupees by the due
date via any of these convenient methods: National Electronic Funds Transfer (NEFT), Direct Debit, By
Electronic Bill Payment, RUPAY/UPI/UPI QR Code, Debit Card powered by RuPay, Unified Payments
Interface (UPI) (BHIM -UPI), Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-
UPI QR Code), By Cheque/Draft.
(iv) Billing disputes resolution: Any clarifications or queries on the monthly statement of the Card
Account must be informed to American Express by Calling into the 24-hour Customer Services Helpline
numbers or submitted to American Express in writing within 60 days of the statement date. In case of
Cardmember billing disputes/transaction disputes, American Express follows its dispute resolution
policy whereby a temporary suspension is applied on the disputed transaction and case is investigated
for the dispute and the dispute is closed within 30 days.
(v) Complete postal address of Card issuer: American Express Banking Corp., Cyber City, Tower C,
DLF Bldg. No.8, Sector 25, DLF City Ph II, Gurgaon-122002 (Haryana).
(vi) Toll free number, Email-ID and contact details of Grievance Redressal Official:
First Level Escalation: Second Level Escalation:
Manager - Executive Correspondence Unit Ms. Priyameet Kaur
American Express Banking Corp. Head of Customer Service American Express
Telephone No. 0124-6702523 (Monday to Banking Corp.
Friday8:30 am to 5:00 pm) Telephone No. 0124-6702527 (Monday to Friday
Email: 8:30 am to 5:00 pm)
Manager-Customerservicesindia@aexp.com Email: Head-Customerservicesindia@aexp.com
Nodal Officer Name: Mr. Sourabh Khanna
E-mail ID: AEBCNodalOfficer@aexp.com |
Telephone no: 0124-6702638 (Monday to Friday 8:30 to 5:00 pm)
Address: American Express Banking Corp. Cyber City, Tower "C", DLF Bldg. No.8, Sector - 25,
DLF City Phase - II, Gurgaon - 122002 (Haryana)
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For more details, please visit https://www.americanexpress.com/in/legal/customer-complaint-
grievance-redressal-policy.html
The 24 hours call centres of American Express can be contacted as below:
Product Name 24 hours Call Centre Numbers
SM
American Express Platinum Reserve Credit Card 1800 180 1030 (Toll Free), 0124-673 6660
American Express Platinum Travel Credit Card 1800 419 2122 (Toll Free), 0124-670 2929
®
American Express Membership Rewards Credit Card 1800 419 0167 (Toll Free), 0124-673 6900
American Express Gold Credit Card 1800 419 3646 (Toll Free), 0124-673 6700
®
American Express PAYBACK Credit Card 1800 419 0726 (Toll Free), 0124-674 4144
American Express SmartEarn™ Credit Card 1800 208 1226 (Toll Free), 0124-670 2101
