MOST IMPORTANT TERMS AND CONDITIONS

FOR AMERICAN EXPRESS® CREDIT CARDS

The MITC update as on 9 October 2024 and circulated by American Express Banking Corp.
as a part of all Credit Card applications in compliance to Master Circular on Credit Card
Operations of Banks issued by Reserve Bank of India for Credit Card Operation of Banks.
Cardmember/ Cardholder shall mean any person holding any of the American Express
Credit Card defined herein. Specific reference is given if any Terms and Conditions are
applicable only to a particular American Express Credit Card. This MITC is to be read
along with the application form, Cardmember Agreement, Cardmember T&Cs and any
other Agreement signed and/or accepted by the Cardmember for the full and comprehensive
knowledge and information about the Card products and all the associated Charges/Fee,
services, benefits and privileges as applicable/ available on such Card products. Please refer
to the American Express website (www.americanexpress.com/in/) for most updated Terms
and Conditions.
(a) FEE AND CHARGES
(i) Joining Fees for Primary Cardmember and for Supplementary Cardmember — not
applicable; Such fees and charges may be levied to new Cardmembers in future.
(ii) Membership Fee for Primary Cardmember and Supplementary Cardmember
Membership Fee is payable for use of the Credit Card and for each Supplementary
Credit Card issued at the request of the Basic Credit Cardmember. Annual Fee is levied
every year at the start of membership year.
The Membership Fees for all Credit Cards are as detailed below. Annual Fee reductions
or waivers may be offered by American Express Banking Corp. (“American Express”) at its
sole discretion. Applicable Tax: Any Charges mentioned anywhere in this MITC are exclusive
of the applicable tax which is billed along with the fee that appears on the billing statement
and is levied as per applicable taxes.

Product Membership Standard Membership Finance Charges For Goods & Services,
Fee (Subject Supplementary Rewards Cash & Balance Transfer
to change Card Fee* Tier**
basis offer)
Monthly Annually Monthly Annually
(In (In
cases of cases of
default) default)
American ₹50,000 ₹1,500 FTO 3.5% 42% 3.99% 47.88%
Express (Lifetime
Platinum Foundation
ReserveSM Fee) ₹10,000
Credit Card- (Annual
Option 1*** Maintenance
Fee)

American ₹10,000 (1st ₹1,500 FTO 3.5% 42% 3.99% 47.88%

Express Year) and
Platinum ₹10,000
Reserve (2nd Year
Credit Card- onwards)
Option 2***

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 American ₹3,500 (1st ₹1,500 FTO 3.5% 42% 3.99% 47.88%
Express Year) and
Platinum ₹5,000
Travel (2nd Year
Credit card onwards)
American ₹1,000 (1st ₹1,500 FTO 3.5% 42% 3.99% 47.88%
Express year)
Membership ₹4,500
Rewards® (2nd year
Credit Card# onwards)
American ₹2,000 (1st ₹1,000 FTO 3.5% 42% 3.99% 47.88%
Express Year) and
Gold Credit ₹2,000
Card (2nd Year
onwards)
American ₹750 (1st ₹750 FTO 3.5% 42% 3.99% 47.88%
Express year)
PAYBACK ₹1,500
Credit Card (2nd year
onwards)
American ₹495 (1st ₹250 FTO 3.5% 42% 3.99% 47.88%
Express Year) &
Smart ₹495
EarnTM (2nd Year
Credit Card# Onwards)

*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 SmartEarnTM 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.
**FTO: Frequent Traveler Option; PBCO: PAYBACK Co-brand Option. Membership Rewards
Points on the FTO tier never expire.
#
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 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

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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 ₹495 will be 100% waived off if total spends on American Express SmartEarn
TMCredit Card in the immediately preceding card membership year is ₹40,000 or more.

(iii) 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.
(iv) Service Charge Levied for Certain Transaction
Description of Service/ Transaction Service/Transaction Charges
Duplicate Statement Fee ₹100 per statement for statements older than 3
months
Cheque/ECS/NACH Return Fee ₹250 per Returned Instrument
Over Limit Charge ₹500 per instance. Effective 1 October 2022,
Overlimit transactions on your American Express
Card have been temporarily disabled.

However, the overlimit fee will be applicable on any

issuer initiated debit of fee and charges which may
take the account over the assigned credit limit.
Record of Charge/Summary of Charge Retrieval ₹100 per Retrieval
Fee
Convenience Fee on Purchase of Railway Ticket 1.8% of the transaction value if booked on the
internet (IRCTC) subject to a minimum of ₹10 and
applicable payment gateway charges+GST
Convenience Fee on Fuel Purchas • 0% for HPCL transaction less than ₹5,000
• 1% fee per transaction is 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)
Foreign Currency 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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(v) Interest Free Credit Period
• Cardmember 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:
• Cardmember has paid the full Closing Balance on the previous monthly statement by the
payment due date and
• Cardmember pays the full Closing Balance on the current monthly statement by the
payment due date and
• 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 behaviour.
Illustration: Transaction date: 2 June, Billing Cycle date: 1st of every month, Payment
due date: 18 July, Interest free period = 2 June — 18 July = 47 days.
If the Cardmember has paid total amount due as per his previous statement in full,
the Payment Due date for the current month will stand as 18 days from the statement
generation date e.g.Billing cycle date:1st of every month. If the Cardmember has paid
total amount due for June in full, then the Payment Due date for the month of July would
be 18 July.
If the Cardmember has not paid total amount due as per his previous statement in full,
the Payment Due date for the current month will stand as 23 days from the statement
generation date. For example: Billing cycle date:1st of every month. If the Cardmember
has paid less than the total amount due for June, then the Payment Due date for the
month of July would be 24 July.
Interest Free Credit Period will not be applicable if any balance of the previous month’s
bill is outstanding, even if the Minimum Payment Due has been paid. The Bank shall
report a credit card account as ’past due’ to credit information companies (CICs) and levy
late payment charges if the Minimum Amount Due on the card remains unpaid for more
than 3 days from the Payment Due Date.
(vi) 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.
• Interest, if payable, is calculated by multiplying:
• The daily balance of Charges on which interest is payable; by
• The daily percentage rate (monthly rate multiplied by twelve divided by 365); and then
adding up the daily interest Charges for the applicable period.
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
100

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 In case the payment made towards the monthly statement of account for any particular
month is less than the total interest and Applicable Taxes billed in that particular statement,
the remaining interest amount will get added to subsequent month’s outstanding and
such shortfall in interest will attract interest on interest.
The interest rate charged on Credit Cards issued by AEBC for both Line of Credit Lending
(LoCL) and Installment Lending (IL) categories is decided basis the following factors:
• Expected Cost of Funds
• Expected range of Revolve Rate on LoCL and IL categories
• Desired business margins on LoCL and IL categories
• Expected range of delinquency on LoCL and IL categories
• The rates charged by relevant competitors in the Industry.
Basis the above rationale, the charged by the Bank for both LoCL and IL category of
loans should be above the MCLR and Base Rate published by the Bank. The current
charged by the Bank, as mentioned in the Schedule of Fee and Charges is above the
MCLR and Base Rate published by the Bank.
Sample Illustration 1
Assume that you have American Express Membership Rewards® Credit Card, have paid
previous dues in full and do not have any amount outstanding in your Card Account. Your
statement date is 1st of every month. Below illustration will explain how the interest is
calculated.
Transactions:
Statement Date: 1 May, 2018 Due Date: 22 May, 2018
Illustrative Interest Rate: 3.5% p.m. / 42% p.a.
(for American Express Membership Rewards Credit Card)
Date Transaction Amount
2 April 2018 Purchase of groceries ₹10,000
5 April 2018 Purchase of furniture ₹5,000
1 May 2018 Statement Date Total Payment Due: ₹15,000

Min./Payment Due: ₹750

21 May 2018 Payment Credit ₹750
29 May 2018 Purchase of garments ₹2,000

Interest on the amount due will be charged in the statement generated on 1 June 2018
as below:
Daily Interest= (Outstanding amount * 3.5%*12)/365 Interest Calculation:

Amount Interest Chargeable No. of Days Interest Amount

Period
₹10,000 2 April to 4 April 2018 3 ₹34.52
₹15,000 5 April to 1 May 2018 27 ₹466.03
₹15,000 2 May to 20 May 2018 19 ₹327.95
₹14,250 21 May to 28 May 2018 8 ₹131.18
₹16,250 29 May to 1 June 2018 4 ₹74.79

Total interest (exclusive of GST) ₹1034.47

Thus the total interest charged will b e: ₹1034.47 (exclusive of GST) .

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 Transactions:
Statement Date: 1 June 2018 Due Date: 22 June 2018
Illustrative Interest Rate: 3.5% p.m. / 42% p.a.
(American Express® Membership Rewards Credit Card)

Date Transaction Amount

1 June 2018 Statement Date Outstanding balance: ₹16,250
Interest Amount (including GST):
₹1,220.67
Total Payment Due (inc. GST):
₹17,470.67
Min Payment Due: ₹2033

2 June 2018 Purchase of flight tickets ₹10,000

5 June 2018 Purchase of electronics ₹5,000
21 June 2018 Payment Credit ₹2,033
29 June 2018 Purchase of apparel ₹2,000

Interest on the amount due will be charged in the statement generated on 1 July, 2018
as below:
Daily Interest = (Outstanding amount* 3.5%*12)/365 Interest Calculation:

Amount Interest Chargeable No. of Days Interest Amount

Period
₹27,284.47 2 June to 4 June 3 ₹94.19
2018
₹32,284.47 5 June to 20 June 16 ₹594.39
2018
₹30,437.50 21 June to 28 June 8 ₹280.19
2018
₹32,437.50 29 June to 1 July 3 ₹111.98
2018
Total interest ₹1,080.74
(exclusive of GST)
Thus the total interest charged will be ₹1,080.74 (exclusive of GST). As the Cardmember
has not paid the previous month’s outstanding balance in full so all future transactions will
bear interest from the day of the transaction. The unpaid interest amount will get billed in
subsequent month’s outstanding and will attract interest. The calculation of Applicable Taxes
in the above sample illustration is at Applicable Taxes rate of 18% and is for illustrative
purpose only. The Applicable Taxes or other applicable taxes will be levied at the prevailing
rate on the interest amount.
Sample Illustration 2
Assume that you have American Express® Gold Credit Card, have paid previous dues in full
and do not have any amount outstanding in your Card Account. Your statement date is 1st of
every month.
Below illustration will explain how the interest is calculated. Transactions:
Statement Date: 1 August 2018 Due Date: 22 August 2018 Illustrative
Interest Rate: 3.5% p.m. / 42% p.a. (for American Express ® Gold Credit Card)

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Date Transaction Amount
15 July 2018 Purchase of Electronics ₹20,000
19 July 2018 Purchase of Apparels online ₹7,000
1 August 2018 Statement Date Total Payment Due: 727,000
/ Min Payment Due: ₹1,350
22 August 2018 Payment Credit ₹1,350
28 August 2018 Purchase of Groceries ₹4,000
Interest on the amount due will be charged in the statement generated on 1 September, 2018
as below:
Daily Interest = (Outstanding amount * 3.5%*12)/365 Interest Calculation:
Amount Interest Chargeable No. of Days Interest Amount
Period
₹20,000 15 July to 18 July 4 ₹92.05
2018
₹27,000 19 July to 1 August 14 ₹434.96
2018
₹27,000 2 August to 21 20 ₹621.37
August 2018
₹25,650 22 August to 27 6 ₹177.09
August 2018
₹29,650 28 August to 1 5 ₹170.59
September 2018

Thus the total interest charged will be ₹1,496.06 plus applicable taxes.
As the Cardmember has not paid the previous month’s outstanding balance in full so all future
transactions will bear interest from the day of transaction. Applicable Taxes will be levied at
the applicable rate on the interest amount.
Sample Illustration 3
Assume that you have American Express Platinum Travel Credit Card, have paid previous
dues in full and do not have any amount outstanding in your Card Account. Your statement
date is 1st of every month. Below illustration will explain how the interest will be charged if the
Annual Fee is not paid by due date.
Transactions:
Statement Date: 1 May 2018 Due Date: 22 May 2018 Illustrative Interest Rate: 3.5% p.m.
/ 42% p.a.
(for American Express® Platinum Travel Credit Card)

Date Transaction Amount

May 2018 Annual Fee ₹5,000
1 May 2018 Applicable Taxes 7900
1 May 2018 Statement Date Total Payment Due: ₹5,900
Min Payment Due: ₹5,900
29 May 2018 Purchase of garments ₹2,000

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Interest on the amount due will be charged in the statement generated on 1 June, 2018 as
below:
Daily Interest = (Outstanding amount * 3.5%*12)/365
Interest Calculation:

Amount Amount Period No. of Days Interest

Amount
₹2,000 29 May to 1 June 2018 4 ₹9.21
Thus the total interest charged will be ₹9.21 plus applicable taxes (Late Payment Charges will
also be applicable here). As the Cardmember has not paid the previous month’s outstanding
balance in full so all future transactions will bear interest from the day of transaction. The
calculation of Applicable Taxes in the above sample illustration is at Applicable Taxes rate of
18% and is for illustrative purpose only. The Applicable Taxes will be levied at the prevailing
rate on the interest amount.
Sample Illustration 4
Assume that you have American Express Platinum ReserveSM Credit Card, have paid previous
dues in full and do not have any amount outstanding in your Card Account. Your statement
date is 1st of every month. Below illustration will explain how the interest will be charged if the
Annual Fee is not paid by due date.
Transactions:
Statement Date: 1 July 2018 Due Date: 22 July 2018 Illustrative Interest Rate: 3.5% p.m.
/ 42% p.a.
(for American Express® Platinum ReserveSM Credit Card)

Date Transaction Amount

1 July 2018 Annual Fee ₹10,000
1 July 2018 Service Taxes ₹1800
1 July 2018 Statement Date Total Payment Due: ₹11,800
Minimum Payment Due:
₹11,800
20 July 2018 Purchase of garments ₹4,000
29 July 2018 Payment Credit ₹6,000
Interest on the amount due will be charged in the statement generated on 1 August 2018 as
below:
Daily Interest = (Outstanding amount * 3.5%*12)/365
Interest Calculation:

Amount Interest Chargeable Period No. of Days Interest Amount

₹4,000 20 July to 1 August 2018 13 ₹59.84

Thus the total interest charged will be ₹59.84 plus applicable taxes (Late Payment Charges will
also be applicable here). As the Cardmember has not paid the previous month’s outstanding
balance in full so all future transactions will bear interest from the day of transaction. The

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calculation of Applicable Taxes in the above sample illustration is at Applicable Taxes rate of
18% and is for illustrative purpose only. The Applicable Taxes will be levied at the prevailing
rate on the interest amount.
Sample Illustration 5
Assume that you have American Express® Gold Credit Card, have paid previous dues in full
and do not have any amount outstanding in your Card Account. Your statement date is 1st of
every month. Below illustration will explain how the interest is calculated on Cash Withdrawal.
Transactions:
Statement Date: 1st August 2018 Due Date: 22nd August 2018
Illustrative Interest Rate: 3.5% p.m. / 42% p.a. (for American Express ® Gold Credit
Card)

Date Transaction Amount

19th July, 2018 ATM Cash Withdrawal ₹7,000
19th July, 2018 Cash Advance Service Fee ₹250
1st August, 2018 Statement Date Total Amount Due: ₹7,362.77
Min Payment Due: ₹712.77
11th August, 2018 Payment Credit ₹7,362.77
Interest on the amount due will be charged in the statement generated on 1st August 2018
as below:
Daily Interest = (Outstanding amount * 3.5%*12)/365
Cash Advance Fee of 3.5% of transaction amount, subject to minimum of ₹250 would
also be charged on the Cash Withdrawal as illustrated in the table above.
Calculation of Interest levied on Cash Withdrawal of ₹7,000 done on 19th July, 2018 in
statement generated on 1st August, 2018:

Transaction Amount Amount Period No. of Days Interest Amount

₹7,000 19th July to 1st 14 ₹112.77
August, 2018
Thus, the total interest charged will be ₹112.77 plus applicable taxes.
Interest will be charged on daily basis from the statement generation date till complete payment
is received on the Card. Assuming no transaction is done till the next statement generation
on 1st September 2018 and since the complete payment is received post generation of
statement on 1st August 2018, interest charged post 1st August 2018 would be displayed in
the next statement generated on 1st September 2018 as illustrated below.
Calculation of Interest levied on Cash Withdrawal of ₹7,000 done on 19th July 2018 in
statement generated on 1st September 2018:

Transaction Amount Amount Period No. of Days Interest Amount

₹7,000 2nd August to 11th 9 772.49
August, 2018

Thus, the total interest charged in statement generated on 1st September 2018 will be ₹72.49
plus applicable taxes.

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Sample Illustration 6
Assume that you have American Express Platinum ReserveSM Credit Card or American
Express® Platinum Travel Credit Card, have paid previous dues in full and do not have any
amount outstanding in your Card Account. Your statement date is 1st of every month. Below
illustration will explain how the interest is calculated on Cash Withdrawal.
Transactions:
Statement Date: 1st June 2018 Due Date: 22nd June 2018
Illustrative Interest Rate: 3.5% p.m. / 42% p.a. (for American Express® Platinum Reserve
Credit Card and American Express® Platinum Travel Credit Card)
Date Transaction Amount
12th May, 2018 ATM Cash Withdrawal ₹10,000
12th May, 2018 Cash Advance Service Fee ₹350
18th May, 2018 Purchase of Groceries ₹3,000
25th May, 2018 Payment Credit ₹10,350
Statement Generation Date
1st June, 2018
Total Amount Due: ₹3,149.59
Min. Amount Due: ₹299.59
1st July, 2018 Payment Credit: ₹3,149.59
For illustrative purposes, the cash advance Fee of 3.5% of transaction amount, subject to
minimum of ₹250 would also be charged on the Cash Withdrawal as illustrated in the table
above. Interest on the amount due will be charged in the statement generated on 1st June
2018 as below for the Cash Withdrawal transaction:
Daily Interest = (Outstanding amount *3.5%*12)/365

Transaction Amount Period No. of Days Interest Amount

Amount
₹10,000 12th May to 25th 13 ₹149.59
May, 2018
Thus, the total interest charged will be ₹149.59 plus applicable taxes.
Since complete payment was not received by Payment Due Date, Interest on the amount due
will be charged in the statement generated on 1st July 2018 as below:
Daily Interest = (Outstanding amount *3.5%* 12)/365
Transaction Amount Period No. of Days Interest Amount
Amount
₹3,000 18th May to 1st 15 ₹51.78
June, 2018
₹3,000 2nd June to 1st July, 29 ₹100.11
2018
Thus, the total interest charged will be ₹151.89 plus applicable taxes.
Interest, if payable, is debited to the Cardmember’s Account on the last date of each statement
period and is shown on the statement separately. Cardmember will pay interest on all the
Charges outstanding at the monthly average rate shown on the statement as amended by
American Express from time to time. American Express may vary the interest rates applicable
to the Account at any time at its sole discretion.

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The interest payable by the borrower shall be subject to the changes in interest rates made
by the Reserve Bank from time to time.
If the Cardmember is on a revolving mode, Finance Charges are levied from day one
of incurring the Charge. Finance Charge on Cash Advance is levied from the day of the
withdrawal. For any other Charges, it is from the next cycle date, if the Cardmember is on a
non-revolving mode.
(vii) Overdue Interest Charges - to be given on monthly and annualised basis:
• For American Express Platinum ReserveSM Credit Card, American Expresso Platinum
Travel Credit Card Cardmember will be charged a revised interest rate of 3.99 % p.m.
/ 47.88 % p.a. 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 reven back to the rate applicable as per clause
(a) (i) & (ii) mentioned in the MITC.
Sample Illustration 1
Assume that you have the American Express Platinum Travel Credit Card and the Minimum
Payment Due has not been paid by the due date thrice in last 12-month period. Hence, your
interest rate will be revised from regular 3.5% p.m.to the interest rate in case of Default of
3.99% p.m. You have paid previous dues in full and do not have any amount outstanding in
your Card Account. Your Statement Date is 1st of every month.
Below illustration will explain how the interest is calculated.
Statement Date: 1 May 2018, Due Date: 22 May 2018
Interest Rate: 3.99% p.m. / 47.88% p.a. (for American Express® Platinum Travel Credit
Card) Transactions:

Date Transaction Amount

20 April 2018 Purchase of groceries ₹5,000
25 April 2018 Purchase of furniture ₹10,000
1 May 2018 Statement Date Total Payment Due: ₹15,000
Minimum Payment Due:
₹750
28 May 2018 Payment Credit ₹750
29 May, 2018 Purchase of garments ₹2,000

Interest on the amount due will be charged in the statement generated on 1 June 2018 as
below:

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Daily Interest= (Outstanding amount*3.99%*12)/365 Interest Calculation:

Amount Interest Chargeable Period No. of Days Interest Amount

₹5,000 20 April to 24 April 2018 5 ₹32.79

₹15,000 25 April to 1 May 2018 7 ₹137.74

₹15,000 2 May to 27 May 2018 26 ₹511.59

₹14,250 28 May 2018 to 28 May 2018 1 ₹18.69

₹16,250 29 May to 1 June 2018 4 ₹85.27

Total interest (exclusive of GST) ₹786.08

Thus, the total interest charged will be ₹786.08 plus applicable taxes (Late Payment charges
will also be applicable here).

The Cardmember may refer to the statement to see his current applicable rate of interest
under various heads.

Sample Illustration 2

Assume that you have the American Express Platinum ReserveSM Credit Card and the Minimum
Payment Due has not been paid by the due date thrice in last 12-month period. Hence, your
interest rate will be revised from regular 3.5% p.m. to the interest rate in case of Default of
3.99% p.m. You have paid previous dues in full and do not have any amount outstanding in
your Card Account. Your Statement Date is 1st of every month. Below illustration will explain
how the interest is calculated.

Statement Date: 1 May 2018, Due Date: 22 May 2018

Interest Rate: 3.99 % p.m. / 47.88 % p.a. (for American Express Platinum Reserve Credit
Card)
Date Transaction Amount

25 April 2018 Purchase of furniture ₹3,000

28 April 2018 Online purchase ₹2,500

1 May 2018 Statement Date Total Payment Due: ₹5,500

Minimum Payment
Due:₹275

22 May 2018 Payment Credit ₹275

29 May 2018 Purchase of garments ₹2,000

Interest on the amount due will be charged in the statement generated on 1 June, 2018 as
below:

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Daily Interest = (Outstanding amount* 3.99%*12)/365 Interest Calculation:

Amount Interest Chargeable No. of Days Interest Amount

Period
₹3,000 25 April to 27 April 3 ₹11.81
2018
₹5,500 28 April to 1 May 4 ₹28.86
2018
₹5,500 2 May to 21 May 20 ₹144.30
2018
₹5,225 22 May to 28 May 7 ₹47.98
2018
₹7225 29 May to 1 June 4 ₹37.91
2018
Total interest (exclusive of GST) ₹270.85
Thus, the total interest charged will be ₹270.85 plus applicable taxes.
The Cardmember may refer to the statement to see his current applicable rate of interest
under various heads.
(viii) Charges in case of default: If American Express does not receive the Minimum Payment
by the payment due date (as shown on the monthly Card statement), a late payment
Charge of 30% of the Minimum Payment Due as shown on the Card statement, subject
to a minimum of ₹500 and a maximum of ₹1,000, plus applicable taxes will be levied to
the Card Account. In addition to late payment Charges, interest as computed in point a
(v & vi) will also apply.
(xi) American Express does not levy processing or any other Charges for the purpose of
issuing a Card unless specified or without prior consent of the Cardmember.
(b) DRAWAL LIMITS
(i) Credit Limit and (ii) 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.
(iii) Cash Withdrawal Limit
Cardmembers may access Cash Advances every 14 days with a limit up to USD 333
or its equivalent, or 20% of credit limit, whichever is lower. Please note that Finance
Charges on cash advances are levied from the date of withdrawal.
Please be aware that Cash withdrawal services on your American Express Card
have been temporarily suspended in India. However, you may still avail the service in
international locations.

13
(iv) Daily Transaction Limit for Tokens (Not mandatory for cardmembers to set the same
for Tokens)
1. Your Daily Transaction limits shall be within the overall limit on the card.
2. Your Daily Transaction limits shall be within the Enhanced card security limits updated
on your card/ if any.
3. Your Daily Transaction limits will not supersede American Express Authorizations and
may be declined subject to internal checks as per policy
(v) BILLING
(i) Billing Statements - Periodicity and Mode of Sending
American Express will send Cardmember a statement identifying all purchases, Cash
Advances, Fee and all other Charges, payments and Credits to the Account, Credit Limit
and available Credit Limit once a month for each billing period during which there is any
activity or a balance outstanding on his Account. Non-receipt of the statement for any
reason whatsoever is not a valid reason for non-payment of the payment due. In case the
Cardmember does not receive the statement within 10 days from the date of their usual
Statement Date, the Cardmember should call American Express {refer section c(vi)}
to check the amount payable. The statement of Account will be sent to Cardmembers
through courier/regular post or through an online link on the Cardmembers’ registered
email address with American Express. Cardmembers can also register online and view
the Card statements online by logging on to americanexpress.co.in or AMEX mobile
application. If card member has not received E- statement notification due to incorrect
/ incomplete email id and the email ID is not corrected/updated post notification from
the bank, Statement preference would be changed to Paper statement and subsequent
statements will be delivered to Cardmember through courier/regular post. Cardmember
can update their email id by logging in to their online account or via the mobile app.
Alternatively, cardmember can call American Express helpline to get their email ID
updated and enroll for E statement.
However, there may be no statement generated for the period in which there has been
no outstanding due and no transaction on the Account in the past month.
In order to serve you better, we may reach out to you through WhatsApp in addition to
standard modes of communication. If you do not wish to receive service updates for your
account through WhatsApp, please SMS STOP to 7075000735 from your registered
mobile number. Please ignore if you have already Opted Out. To re-enroll, please SMS
START to 7075000735 from your registered mobile number. Please be advised that you
will continue to receive updates through SMS and Email alerts.
(ii) Minimum Amount Payable
The monthly statement will show the minimum payment the Cardmember needs to pay
American Express which will be sum of all listed items as under
1. 5% of the principal amount or minimum of ₹100 whichever is greater and
2. The total sum of any Card Fees, Charges, Taxes and, Interest
3. Any installment due under any extended/deferred payment plan that American
Express may offer.

14
 The unpaid charges/levies/taxes are not capitalized for charging/compounding of interest.
Cardmembers may choose to pay the full amount as shown in the Statement of Account
by the Payment Due date. However, if they fail to do so, Interest and/or Fee shall be
levied as mentioned under sections (vi), (vii) and (viii).
(iii) Payments received against your Card outstanding will be adjusted against all taxes, Fees
and other charges, interest charges, cash advances and purchases in that order. Making
only the minimum payment every month would result in the repayment stretching over
months/years with consequential compounded interest payment on your outstanding
balance.
For e.g.: On the American Express Platinum Travel Credit Card with Interest Rate of
3.5% p.m., on a transaction of ₹5,000 if Minimum Payment Due is paid every month
(subject to a Minimum Payment of ₹100 every month), it will take upto 44 months for
entire outstanding amount to be paid in full. For the exact Minimum Payment Due, this
MITC should be read in conjunction with the monthly statement.
(iv) Method of Payment
Cardmembers are required to make the payment in Indian Rupees by the due date.
Cardmember to maintain sufficient balance in their Bank account to avoid levying of
bounce charges, for payment done via Cheque/Direct Debit. Payment to the Card
Account can be sent by any of these convenient methods:
• National Electronic Funds Transfer (NEFT) - Make a payment towards your Account
via NEFT mentioning the full 15-digit Card number. The NEFT details are as follows:
IFSC Code: SCBL0036020
Name of Bank & Branch: Standard Chartered Bank, Narain Manzil, 23 Barakhamba
Road, New Delhi - 110001
Account Type: Current, Payee Account No.: 37XXXXXXXXXXXXX(XX represents the
last 13 digits of your Card number)
• Direct Debit - You may also enroll for direct debit each month from your Bank Account
and credit the Card Account with the total payment due in the monthly statement through
the National Automated Clearing House (NACH) introduced by the National Payments
Corporation of India (NPCI)
• By Electronic Bill Payment - Use the net banking interface of your Bank to make payments
electronically for your Card dues. Please visit ‘americanexpress.co.in’ for complete list of
enabled Banks
• RUPAY/UPI/UPI QR Code - We also accept payments through following electronic
modes:
(i) Debit Card powered by RuPay;
(ii) Unified Payments Interface (UPI) (BHIM -UPI); and
(iii) Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM -UPI QR
Code).
• By Cheque/Draft: A crossed cheque/draft payable to AEBC Card No. 37XX XXXXXX
XXXXX and mention your name and contact number at the back of the cheque by :

15
(A) Drop Box- For locations, please log on to ‘americanexpress.co.in’ to find the nearest
dropbox.
(B) By Mail — Please send a crossed cheque/draft with payment advise to the following
address:
American Express Banking Corp., Cyber City, Tower C, DLF Bldg. No.8,

Sector 25, DLF City Ph II, Gurgaon - 122002 (Haryana)

Mode of Clearing Time Frame

Local clearing* 4/6 working days
* Subject to local clearing house timings In case of Bank Holiday, the above- men-
for presentation of outward clearing. tioned time frame may be extended by
another 2 days or more.
Cheques presented in Metro and other 10 working days
locations where American Express Bank-
ing Corp. (‘AMEX’) Partner Bank is having
their branches but drawee bank/branch
not available/ participating in local learing/
CTS Grid clearing. Such cheques to be
sent directly to respective AMEX’s Part-
ner Bank locations for presentation under
local clearing/CTS Grid Clearing
Cheques payable at any other locations 12 working days
Cheques payable at all other Centers 16 working days

For local clearing, drop boxes are cleared on a daily basis and latest by 4 pm, the collected
cheques are deposited at the processing center of Standard Chartered Bank. In case of
couriered cheques, the timeline for clearing cheque will be post receiving the cheque at
AMEX’s above mentioned Gurgaon address.

Above time frame is not applicable for any discrepant cheques e.g. account number not
available, title differs etc. Credit limit would be refreshed upon realization of cheque effective
1 November 2021.

Please note that RBI vide its directive DPSS(Che)/ 569 /01.02.003/2017-18 dated 21 June
2018 has reduced the frequency of the clearing sessions of cheques that are not compliant
with CTS-2010 standards. Additionally, post 31 December 2018, non CTS compliant
cheques will be discontinued/not accepted. Therefore, if payments to your card accounts
are made through non CTS compliant cheques, your Credit Card account may be levied with
appropriate penal charges and levies. We encourage you to make payments via CTS
compliant cheques to ensure timely processing of your cheques.

In the event a cheque or an instrument accepted for collection is lost in transit or in the
clearing process or at the paying bank’s branch, AMEX shall immediately upon learning of
the loss, bring the same to the notice of the Cardmember so that the Cardmember can
inform the drawer to record stop payment and also take care of the cheques. In line with
the compensation policy of AMEX, upon receiving a written request from the Cardmember,
AMEX may compensate the Cardmember through reversal of applicable late payment fee
and finance charges for any delayed collection at its discretion.

16
Please note:
1. Payments to the Card account can only be made from a bank account in the primary
Cardmember’s name only.
2. Payments made to an American Express Card issued in India held by a non-resident of
India must be made through an NRE/NRO account in the primary Cardmember’s name
only.
3. AMEX is not obligated to process, nor provides any guarantees/warranties for any
payment made by a Cardmember through a payment aggregator that does not appear
on the AMEX website or mobile application.
(v) 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 (refer to c(vi)) or submitted to American Express in writing (refer to c(viii)) within
60 days of the statement date. American Express would take reasonable steps to assist
the Cardmember by providing information in relation to their queries on the Card Account.
American Express may charge a reasonable administrative fee for statement reprints or
Record of Charge forms. In case of Cardmember billing disputes/transaction disputes
including unauthorized transaction notified by the customer, American Express follows
its dispute resolution policy whereby a credit as per American Express’s internal policy, is
applied on the disputed transaction and the case is investigated for the dispute, which is
closed within 30 days. On being notified by the customer, American Express shall credit
the amount involved in the fraudulent transaction to the customer’s card account within
10 working days from the date of such notification by the customer. As a result of the
above mentioned credit , the disputed transaction amount is not included in the balance
for the purposes of reporting to Central Repository of Information on Large Credits
(CRILC) constituted by the Reserve Bank of India (RBI), Credit Information Companies
(CICs) established under the Credit Information Companies (Regulation) Act, 2005 and
to the Information Utilities (IUs) established under the Insolvency and Bankruptcy Code,
2016, till such time that dispute is settled. In case the dispute is not settled in favor of
the customer, the disputed amount gets debited on the card account, which is followed
by sending a written communication to the card member and subsequent release of
necessary information to the above mentioned regulatory authorities.
(vi) Contact Particulars of 24 hours call centres of Card issuer

Product Name 24 hours Call Centre Numbers

American Express Platinum ReserveSM 1800 419 1030 (Toll Free), 0124 673
Credit Card 6660

American Express Platinum Travel Credit 1800 419 2122 (Toll Free), 0124 670 2929
Card
American Express Membership Rewards® 1800 419 0167 (Toll Free), 0124 673 6900
Credit Card
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 SmartEarnTM Credit Card 1800 208 1226 (Toll Free), 0124 670 2101

17
Should the Cardmember require any assistance, the 24 hours call centers of American
Express can be contacted at these numbers.
(vii) Grievances Redressal Escalation — contact particulars of Officers to be contacted.
In the event that you are not satisfied with our services, you may register your grievance to:

First Level Escalation Second Level Escalation

Manager -Executive Correspondence Unit Ms. Priyameet Kaur Head of Customer
American Express Banking Corp. Service
Cyber City, Tower C, DLF Bldg No.8 Sector American Express Banking Corp. Cyber
25, DLF City Ph II Gurgaon — 122002 City,Tower C, DLF Bldg No.8 Sector
(Haryana) 25, DLF City Ph II Gurgaon — 122002
Telephone No. 0124-6702523 (Monday to (Haryana)
Friday8:30 am to 5:00 pm) Telephone No. 0124-6702527 (Monday to
Email: Friday 8:30 am to 5:00 pm)
Manager-customerservicesindia@ aexp. Email:
com Head-customerservicesindia@aexp.com

Nodal Officer
Name: Mr. Saurabh Khanna
E-mfitÌI 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 - Il, Gurgaon - 122002
(Haryana)
If you are not satisfied with redressal of the complaint provided by Bank or if you have not
received a response from Bank within one month i.e. 30 days of logging a complaint with
us, you may approach the Office of Banking Ombudsman for Grievance Redressal. The
complaint can be made to the Office of Banking Ombudsman with the complete transaction
and other requisite details. (The 30 day period will be reckoned after all the necessary
information sought from the customer is received) https://rbidocs.rbi.org.in/rdocs/content/
pdfs/RBIOS2021_121121.pdf for details on the Integrated Banking Ombudsman Scheme.
lntegrated Banking Ombudsman Contact Details
Link to log a complaint: https://cms.rbi.org.in E-mail ID: crpc@ rbi.org.in
Address: Centralised receipt and Processing Center (CRPC), Reserve Bank of India, 4th
Floor, Sector 17, Chandigarh 160017
Toll Free Number : 14448 (9:30 am to 5:15 pm)
Our endeavor is to ensure that all customer complaints are resolved within 30 days. The 30
day period will be reckoned after all the necessary information sought from the customer is
received.
For more details, please visit
https://www.americanexpress.com/in/legal/customer-complaint-grievance-redressal-policy.html

18
(viii) Complete Postal Address of the Card Issuing Bank
American Express Banking Corp., Cyber City, Tower C, DLF Bldg. No.8, Sector
25, DLF City Ph II, Gurgaon-122002 (Haryana).
(ix) Toll Free Number for Customer Care Services
Listed above in section c (vi).
(x) Charges in Foreign Currency
If the Cardmember makes a Charge in a currency other than Indian Rupees, that Charge
will be converted into Indian Rupees. The conversion will take place on the date the
Charge is processed by overseas American Express, which may not be the same date
on which the Charge was made as it depends on when the Charge was submitted to
American Express .If the Charge is not in U.S. Dollars, the conversion will be made
through U.S. Dollars, by converting the Charge amount into U.S. Dollars and then by
converting the U.S. Dollar amount into Indian Rupees. If the Charge is in U.S. Dollars,
it will be converted directly into Indian Rupees. Unless a specific rate is required by
applicable law, the overseas American Express treasury system will use conversion rates
based on interbank rate that it selects from customary industry source on the business
day prior to the processing date, increased by a foreign currency conversion mark up
of 3.5%. If Charges are converted by third parties prior to being submitted to American
Express, any conversions made by those third parties will beat rates selected by them.
Please note that if the Charge is made in Nepal and Bhutan, currency conversion markup
factor is not applicable as such Charge will be denominated in Indian Rupees to the
Cardmembers. For more details, please refer the link
https://www.americanexpress.com/content/dam/amex/in/legal/notice-board/General-
overview-of-limits-on-Foreign-Exchange-Transactions.pdf
(xi) Customer Compensation Policy
As a Bank, we have a Customer Compensation Policy, the objective of which is, to
establish a system whereby the Bank compensates the customer for any financial loss
he/she might incur due to deficiency in service by the Bank or any act of omission or
commission directly attributable to the Bank. The policy includes the following aspects:
1. Erroneous Debits arising out of fraudulent or other transactions
2. Payment of interest for delayed credit to account
3. Issue of unsolicited cards
4. Violation of Bank’s Code by its agents
5. Other unauthorized actions of the bank leading to a financial loss to customer.
For the detailed policy, please refer the section “Our Codes & Policies” on the American
Express website www.americanexpress.com/in/legal/our-codes-and-policies.html

(d) DEFAULT AND CIRCUMSTANCES

(i) Disclosure
Being a Scheduled Commercial Bank, American Express Banking Corp., India (AEBC) /
(Bank) is legally obligated to (i) disclose/report/share/receive Credit Information/Financial

19
Information pertaining to cardmembers to Central Repository of Information on Large
Credits (CRILC) constituted by the Reserve Bank of India (RBI), Credit Information
Companies (CICs) established under the Credit Information Companies (Regulation)
Act, 2005 and to the Information Utilities (IUs) established under the Insolvency and
Bankruptcy Code, 2016. AEBC hereby informs the cardmembers that the Bank shall be
reporting Credit Information/ Financial Information (positive and / or negative) pertaining
to the account from time to time to the aforesaid institutions to disseminate Credit
Information/Financial Information as stipulated under the aforesaid laws / regulations.
Adverse reporting to the aforesaid institutions can adversely affect cardmembers’ credit
score / credit rating and further impact servicing of their existing financial facilities
and / or the prospect of securing financial facilities from other Banks / Financial
Institutions; (ii) disclose/report/share/receive Credit Information/Financial Information
and other information including “Personal information” and/or “Sensitive personal data
or information” as provided under the Information Technology (Reasonable Security
Practices and Procedures and Sensitive Personal Data or Information) Rules 2011 (the
“Indian Privacy Rules”), to / from the RBI, other regulators, courts, tribunals, arbitral
tribunals, judicial and quasi-judicial bodies, governmental agencies, law enforcement
agencies /instrumentaIities of State and Central Government such as, but not limited to,
the Financial Intelligence Unit — India, Directorate of Enforcement, the Central Bureau of
Investigation (CBI), the police and other departments/agencies and any other institutions
/ authorities established under the legal framework and / or in order to comply with the
requirements stipulated under any of the applicable laws / regulations to facilitate discharge
of AEBC’s / their obligations under the relevant laws / regulations; (iii) Download / upload
/ update information including Know Your Customer (KYC) documents / information to /
from / with, Central Registry of Securitisation Asset Reconstruction and Security Interest
of India (CERSAI). Further, AEBC may disclose/report/share Cardmember’s Credit
Information/Financial Information/ KYC Information, card data (including transaction
data) and other information including “Personal information” and/or “Sensitive personal
data or information” as provided by the Cardmember in the application form or thereafter,
or obtained by AEBC from any other source, to (a) its outsourcing partners (including
its group /associate/ affiliate/ subsidiary entities/any other entities) with which AEBC
has contractual arrangement/ tie-up arrangement for maintaining and servicing the
cardmembers, card operations, backend operations pertaining to its card business or for
provision of technology service(s) or for providing various offers, benefits, features and
other services/products to its cardmembers; (b) its parent entity i.e., American Express
Banking Corp., New York (as AEBC operates in India as a branch of American Express
Banking Corp., New York); (c) marketing agencies and/or for marketing purposes provided
Cardmembers have explicitly authorised/permitted AEBC in this regard; and (d) industry
associations (excluding PII) for the purposes of analyzing trends in relation to various
aspects related to the card business or industry. In all the above cases (except in case
of reporting to the CIC’s as mentioned above, AEBC will provide advance notice to the
cardmembers as required under the extant guidelines /regulations), AEBC shall disclose/
report/share/ receive Credit Information/Financial Information/KYC Information/ card data
(including transaction data) and other information including “Personal Information” and/
or “Sensitive personal data or information” as mentioned above without any additional
notice/intimation to the Cardmembers and in all other instances of disclosure/sharing,
AEBC shall seek approval from Cardmembers. The privacy of information providers
is of utmost importance to American Express. We are committed to adhering to the
Information Technology (Reasonable Security Practices and Procedures and Sensitive
Personal Data or Information) Rules 2011 (the “Indian Privacy Rules”). Our Data Privacy
Principles explains the way American Express and its employees, partners and vendors

20
 will collect, use, store, share, transmit, delete or otherwise process (collectively “process”)
Personal Information in India in accordance with its Data Protection & Privacy Principles.
Cardmember voluntarily submits at his/ her own discretion the physical / e-copy of the
document (including proof of possession of Aadhaar number), which contains the details
of his/ her identification and/or address and/or any other personal or sensitive personal
information, in a format as provided by the issuing authority/ies, to AEBC for the purpose
of verifying his/ her identity/address and any other information provided by Cardmember
in accordance with the extant guidelines. Cardmember voluntarily gives his/ her explicit
consent to AEBC for collection, processing, storage, verification, authentication of his/ her
documents and/or information provided by him/ her as per extant regulations under any
Act or law from time to time in force, towards issuance of a credit card / for periodic KYC
updation / to process his/ her instructions etc. for the said purpose in his/ her individual
capacity or as an authorized signatory or as a beneficial owner, as the case may be. The
aforementioned shall be read and understood in conjunction with the American Expresso
India Online Privacy Statement and the Cardmember declares that all the information
voluntarily furnished by him/ her is true, correct and complete.
For details of the American Express Privacy Policy and to know how we collect, process
& store the information, please log on to: - https://www.americanexpress.com/en-in/
company/legal/privacy-center/online-privacy-statement/
In case of any update in the documents submitted by the Cardmember at the time of
establishment of business relationship / account-based relationship and thereafter, as
necessary; Cardmember shall submit to American Express the update of such documents
within 30 days of the update of the documents
(ii) Procedure (including notice period) for reporting a Cardholder as defaulter
A Card Account would be overdue or in default due to one or more of the following
circumstances:
• Cheque/Online payments or ECS/NACH/NEFT payments that are not honoured
• Failure to pay the minimum due/full amount (based on the product) by the Due Date(as
per the Card Account Statement)
• If any statement made by the Cardmember to American Express in connection with his
Card was false or misleading
• For failure to comply with the Terms and Conditions of the Card
• If a petition for Cardmember’s Bankruptcy is issued or if any attempt is made by any
other creditor to seize any of his property.
(iii) If American Express Credit Cardmember’s Account is in default, American Express
requires him to pay immediately all sums outstanding on his Account and American
Express reserves the right to cancel his Card.
Notification to Cardmember of Credit Information Companies (ClCs) as authorised by
Reserve Bank of India reporting at the time of overdue status.
In case a Cardmember’s Account is overdue for 60 days or more, American Express will
send a written communication to the Cardmember informing the overdue status and its
intention to further report his/her overdue status to the Credit Information Companies
(ClCs) as authorised by Reserve Bank of India.

21
(iv) Procedure for withdrawal of default report and the period within which the default
report would be withdrawn after settlement of dues.
In the event the customer settles his/her dues after having been reported as defaulter,
the card issuer shall update the status within 30 days from the date of settlement.
(e) Recovery procedure in case of default/Account overdue
Bank uses the following follow-up and recovery channels in case of default:
(i) WhatsApp: Cardmembers may be contacted on WhatsApp for servicing alerts. To opt
out, SMSSTOP to 7075000735 from your registered mobile number. To re-enroll in future,
SMS START to7075000735 from your registered mobile number.
(ii) Letter/E-mail: Letter/E-mail may be sent at the mailing address/registered e-mail
ID provided by the Cardmember to inform him on his overdue amount, payment due
dates and the subsequent delinquency Fee levied as well as the consequences of non-
payment.
(iii) Telephone: Cardmember will be contacted at mobile/office/residence telephone
numbersto check the status of his payments and to inform him of his overdue amounts.
(iv) Field visitation: Visit by an Authorised Recovery Personnel appointed by the Bank
would be done at the contact address of the Cardmember. The Recovery Personnel
would politely advise the Cardmember for regularising his overdue Account and would
also address any issue/concerns that the Cardmember may have on his Card Account.
(v) Legal recourse: Legal recourse will be resorted in exceptional situations, in the event of
advance stages of Cardmember’s default.
It is the Cardmember’s responsibility to update any change in his/her contact details with
the Bank. If the Cardmember contacts the Bank from any alternate number(s) regarding
any inquiry/information/details pertaining to his/her Card account(s), the Bank reserves
the right to store his/her alternate contact number. In case of default, if the Bank is
unable to contact the Cardmember at the primary contact details provided earlier, the
Bank will access the alternate contact number(s) stored, if any, in the Bank’s repository
and use it to contact the Cardmember.
(f) Recovery of dues in case of death/permanent incapacitance of Cardholder
American Express offers a waiver of outstanding up to ₹50,000 on the Card in case of
death of the Basic Cardmember. If the outstanding amount is more than ₹50,000, letter
and telephone follow up will be done with the next of the deceased, informing them about
the deceased Cardmember’s outstanding amount and advising them to regularise the
Account.
(g) Available Insurance cover for Basic Cardholder and date of activation of policy
Insurance benefits are provided by an independent insurance company under the group
policy purchased by AEBC. Insurance risk is underwritten by the insurance company
and the benefits secured under the insurance policy are provided by such insurance
company as per the terms of the insurance policy. The premium towards insurance cover
is borne by AEBC. This insurance cover is optional, and you will not be charged for
availing it. You will be required to fill the nomination form (provided with the welcome kit)
and send it to the insurance company. The Cardmember’s nominee(s) is/are requested
to submit and settle insurance claims with the insurance company directly. Air accident
insurance is covered in case of death only. Please call us in case you require a copy
of the insurance form. You will be eligible for the insurance cover only if you have used
the Card for the purchase and as long as you have fully paid the annual/ renewal fee as
charged by AEBC or unless otherwise communicated by AEBC/ insurance company at
any time at its sole discretion.

22
 Type of Card Air Accident Insurance for tickets bought
on the Basic or Supplementary Card
American Express Platinum ReserveSM ₹10,000,000 if tickets bought on the Card
Credit Card
American Express Gold Credit Card ₹3,000,000 if tickets bought on the Card
Other Credit Cards Not Applicable
Date of Activation of Policy
This policy, by default, gets activated on the day your Card application is approved by AEBC.
Once the duly filled nomination form is submitted to the insurance company, the Cardmember’s
nominee(s) becomes eligible to file the claim for the insurance benefits, subject to the terms
& conditions of cover. Applicable only for the Basic Cardmember for tickets purchased on the
Basic or Supplementary Card Account.
(h) TERMINATION/REVOCATION OF CARDMEMBERSHIP
(i) If your Card is not activated within 37 days of Card approval, it will be cancelled.
(ii) Procedure for surrender of Card by Cardmember - Due notice
By Cardmember: Cardmember can terminate their Credit Card at any time by returning
to American Express all Credit Cards issued for use on the Account cut in half with a
written request to terminate, all your outstanding amounts will immediately become due.
Termination will only be effective when American Express receives all such Credit Cards
and payment of all amounts outstanding in respect of the Account. Customer is at liberty
to surrender the Card as per his discretion. The Cardmember may call at Bank’s 24-hour
helpline number in section C (vi) above and can have his facility blocked post compliance
of certain mandatory security checks.Cardmember can cancel the use of a Credit Card
by Supplementary Credit Cardmember by notifying American Express in writing but he
will remain liable for all Charges incurred by the Supplementary Credit Cardmember up
to the date of receipt of notice by American Express.
(iii) By American Express: American Express can terminate the Cardmember
Agreement and cancel your Credit Card at any time on immediate notice or at any time
to restrict the use of the Credit Card without giving reason or cause. Where American
Express terminates the Agreement, all monies outstanding on the Account (including
Charges or Cash Advances not yet debited) will become due and payable immediately.
American Express may inform Establishments of cancelled Credit Cards. If the Credit
Card is cancelled, the Cardmember must cut it in half and dispose of it judiciously. The
Cardmember agrees not to use the Credit Card after it has been cancelled. All your
outstanding amounts will immediately become due.
(iv) American Express may offer a re-instatement to the Cardmember under the
following conditions
In case Cardmember had attritted voluntarily and comes back requesting for the
membership within 1 year of cancellation. If American Express has cancelled the Card
Account (due to default reasons), then an evaluation based on company’s policies and
procedures will be undertaken at customer’s request.
Once a card is cancelled or blocked (including but not limited to cases where the card
product is being migrated to a new product), it shall not be valid for further use with
immediate effect, and any transaction including but not limited to recurring transactions/

23
 standing instruction on the card will be declined. If the card is cancelled or blocked, kindly
cut the card in your possession into two halves and dispose of it judiciously. Additionally,
please take appropriate steps to cancel any standing instructions that you may have
opted for on such card.
(i) Recurring transactions on Card
a) Every time there is a change in the Card number or Card credentials (like expiry
date/cvv etc.) due to Card renewal, Card replacement or any other reason; the
cardmembers are required to register again and set fresh standing instructions at the
Merchant’s website/ platform/ portal etc.
b) International recurring transactions will not be processed effective 1 October 2021.
Cardmember should make the payment to the International Merchants directly
whenever due to avoid disruption of services.
c) Minimal amount of ₹1 or 2 will be debited from your card to verify the card details at the
time of Standing Instructions registration, at the time of modification or cancellation of
the Standing Instructions at the Merchant’s website/ platform/ portal etc.. Please be
assured, this amount will not be billed to the Cardmember.
(ii) LOSS/THEFT/MISUSE OF CARD
(i) Procedure to be followed in case of loss/theft/misuse of Card-mode of intimation
to Card issuer
The Cardmember must notify American Express immediately if the Credit Card is lost,
stolen, mutilated, not received when due or if he suspects that the Credit Card is being
used without his permission/ consent. In the case of any fraudulent transaction due to
misuse of the Card, the Cardmember must immediately file a First Information Report
(FIR) with the police station nearest to the place of occurrence and file a detailed report
with American Express enclosing a copy of the FIR. If the lost Credit Card is subsequently
received, it must not be used. The Replacement Credit Card and subsequent renewals
of it must be used instead. The retrieval of the original Credit Card must immediately be
reported to American Express and kindly cut the card in your possession into two halves
and dispose of it judiciously.
(ii) Liability of Cardmember in case of (i) above
Provided that the Cardmember has acted in good faith, his liability to American Express
arising out of any unauthorised use of the Credit Card shall be nil if American Express
receives the report within 3 working days of the fraud. If the fraud is reported beyond
3 working days then the maximum liability of the customer will be limited to ₹1000. A
Cardmember’s entitlement to zero liability shall arise where the unauthorized transaction
occurs in the event of contributory fraud/ negligence/ deficiency on the part of American
Express (irrespective of whether or not the transaction is reported by the Cardmember).
The security features adopted and implemented by American Express are of international
standards robust enough to protect and safeguard Cardmember data from unauthorised
access, and are currently a substitute to PCI DSS Certification mandated by RBI. American
Express shall however bear the fraud losses for any suffered by the Cardmembers arising
out of American Express not obtaining the PCI DSS Certification.
“The security features adopted and implemented by American Express with respect to
its Mobile Application are of international standards which are robust enough to protect

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 and safeguard card members from frauds/unauthorized access. American Express shall
however bear fraud losses suffered by the Cardmembers arising out of any established
lapses in the security features around mobile application, provided the card member has
acted in good faith”.
For enhanced customer protection, American Express does not allow transactions on
fallback/ magstripe mode in India.
(iv) Cardmembers can call the 24-hour Helpline phone numbers [refer to c(vi)] to inform
about this loss or theft. Cardmembers can also block the Card by logging in to MYCA or
Mobile App using the “Replace or Track your Card” option. To directly access My Card
Account/website, please login https://www.americanexpress.com/en-in/account/login
(v) OUTSOURCING OF FINANCIAL SERVICES
The Bank may outsource/assign activities (including the sales, marketing, servicing,
backend operations, technology services, etc.) pertaining to its products and operations
to any service provider, whether located in India or overseas and whether to any
of the Banks’ affiliates or a third party, at its sole discretion, in accordance with the
applicable guidelines of the Reserve Bank of India (RBI). The Bank reserves the right
to provide details of Cardmember’s Account, Credit Information/Financial Information/
KYC Information, card data (including transaction data) and other information including
“Personal information” and/or “Sensitive personal data or information” to such service
providers for the purpose of availing outsourced services of any nature by the Bank, in
accordance with its data privacy policy.
(vi) SAFE CUSTODY OF CARD AND PERSONAL IDENTIFICATION NUMBER (PIN)
Cardmember shall not record the PIN in any form so as to facilitate the PIN coming to
the knowledge of any third party or share or reveal the PIN with anyone, including family
members, friends or relatives or with American Express customer service representatives,
officials or merchants. American Express will never ask you for your PIN. Additionally,
you should not write down the PIN anywhere and should not keep the Card and PIN in
the same place, such as a wallet or a purse. Please shield your PIN while entering it at an
ATM or POS machines. Cardmember shall at all times take all the appropriate measures
to keep the card safe and secure including those as mentioned herein, to maintain safe
custody of the card and the security of the PIN. If the Cardmember fails to observe the
security requirements, he/she may incur liability. Cardmember will not hold American
Express liable in case of any improper/fraudulent/unauthorized use of the Card and/
or the PIN and American Express will not be liable for any consequences arising out
of or associated with such improper/fraudulent/unauthorized use/ misuse of the Card
by any third party due to access of the Card/Card details to any such third party or due
to sharing of PIN or the PIN coming to the knowledge of any third party, with or without
the knowledge of the Cardmember. If any third parties gain access to the services, the
Card Account or incur charges on the Card, the Card Member will be solely liable and
responsible for the same and shall indemnify American Express against any liability,
claims, demands, costs or damages arising out of such misuse/use by third parties and
shall be compensated subject to the extant guidelines as issued from time to time
(vii) CONTACTLESS PAYMENT
Cards issued by AEBC are equipped to enable Contactless Payments. Payment through
the Contactless mode is allowed for a maximum of ₹5,000* for a single transaction
without entering a PIN. Any transaction for an amount more than ₹5,000* should be
authenticated using a PIN, either by Tap + PIN or Chip + PIN. However, it is not a
mandated requirement to use the contactless mode for payments. If preferred, customers

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 have the option to make all
card present payments as contact transactions using Chip + PIN, irrespective of the
transaction value. Please refer to americanexpress.co.in/contactless for further details.
I understand that the American Express Card issued to me will be enabled for Contactless
Payment, and understand the technology, its use and the risks associated with making
payments through Contactless mode.
*Please be advised that few of our merchant terminals are still undergoing the upgrade
process, to suppod Contactless Transactions upto ₹5000, without PIN authentication.
We regret inconvenience, caused, if any, during this transition period.
(VIII) TRANSACTION ALERTS
Cardmembers understand that the transaction alert SMS sent to them might have a
truncated name (first 12 characters only) of the Merchant establishment. They may
refer to the corresponding email (if registered) / statement of account for the complete
merchant name.
(iX) PROCESS FOR CLOSURE OF INACTIVE CARDS
In case of non-use i.e. no activity / transaction on the Card during the preceding one
year, AEBC will close the concerned Card(s) and linked Supplementary Card(s). The
Cardmember will be sent an intimation and may provide his/her consent to AEBC to
continue his/her Cardmembership. If the Cardmember does not provide such consent
within 30 calendar days of first intimation, via the channel of communication that AEBC
may choose, then AEBC will close such Cards. AEBC will notify such Cardmembers in
writing after the Card has been closed.
(k) SMA AND NPA CLASSIFICATION AND UPGRADATION
As per the Prudential Framework for Resolution of Stressed Assets and Prudential norms
on Income Recognition, Asset Classification and Provisioning pertaining to Advances
issued by RBI and amendments thereto from time to time, banks are required to classify
the borrowers as special mention accounts (SMA) and Non-performing Assets (NPA) if
the overdue is not paid on the due date fixed by the bank as per the categories mentioned
in the below table:

Categories Basis for classification — Principal or

interest payment or any other amount
wholly or partly overdue any other amount
wholly or partly overdue
SMA-0 Up to 30 days
SMA-1 More than 30 days and up to 60 days
SMA-2 More than 60 days and up to 90 days
NPA More than 90 days
The borrower accounts are flagged as overdue as part of day-end processes for the due
date. Similarly, classification of borrower accounts as SMA as well as NPA is done as
part of day-end process for the relevant date and the SMA or NPA classification date is
the calendar date for which the day end process is run.
Example: If due date of a loan account is 31 March 2021, and full dues are not received
before the lending institution runs the day-end process for this date, the date of overdue

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 shall be 31 March 2021. If it continues to remain overdue, then this account shall get
tagged as SMA-1 upon running day-end process on April 30, 2021 i.e. upon completion
of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification
for that account shall be 30 April 2021.
Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon
running day-end process on 30 May 2021 and if continues to remain overdue further, it
shall get classified as NPA upon running day-end process on 29 June 2021.
Further, the borrower account classified as NPAs are upgraded as ‘standard’ asset only
if entire arrears of interest and principal are paid by the borrower.
In case of Cardmember billing disputes/transaction disputes, American Express follows
its dispute resolution policy/procedures whereby a temporary suspension is applied on
the disputed transaction and case is investigated for the dispute and the dispute is closed.
As a result of temporary suspension, the disputed transaction amount is not included in
the overdue balance for the purposes of reporting to Central Repository of Information on
Large Credits (CRILC) constituted by the Reserve Bank of India (RBI), Credit Information
Companies (ClCs) established under the Credit Information Companies (Regulation)
Act, 2005, Information Utilities (IUs) established under the Insolvency and Bankruptcy
Code, 2016, debt collection agencies and classification of borrower accounts as SMA as
well as NPA, till such time that dispute is settled.
In case of restructuring:
1. The accounts classified as standard are immediately downgraded as non-performing
assets (NPAs) and NPAs would continue to have the same asset classification as prior
to restructuring, unless otherwise specified by RBI.
2. Conditions for Upgrade
a. For MSME accounts where aggregate exposure of the lenders is less than ₹25 crores:
An account may be considered for upgradation to ‘standard’ only if it demonstrates
satisfactory performance during the specified period.
b. For all other accounts that are not MSME: An account will be upgraded only when all
the outstanding loan/facilities in the account demonstrate ‘satisfactory performance’
during the period from the date of implementation of Resolution Plan (RP) up to the
date by which at least 10 per cent of the sum of outstanding principal debt as per the
RP and interest capitalization sanctioned as part of the restructuring, if any, is repaid.
c. Other regulatory guidelines with regard to upgrade of an account may also apply on
certain accounts as per applicable laws.
These instructions on SMA/ NPA classification of borrower accounts are applicable to all
loans, including retail loans, irrespective of size of exposure of the lending institution.
For more details, please refer to guidelines published on RBI website:
http://www.rbi.org.in

For FAQ’s on IRACP norms, please visit,

https://www.americanexpress.com/content/dam/amex/in/legal/IRAC_faq_MITC.pdf

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 RCP_MITC_10/24

American Express Banking Corp.,

Cyber City Tower C, DLF Bldg. No. 8, Sector - 25,
DLF City Ph II, Gurgaon - 122002

americanexpress.co.in

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