Amex EveryDay Card Cardmember Agreement

The Amex EveryDay Card Cardmember Agreement filing quotes margins over Prime instead of finished rates. What that leaves knowable — and what it does not — is the subject of this analysis.

The disclosed terms

Amex EveryDay Card Cardmember Agreement is one of the agreements American Express National Bank has on file with the CFPB. The filing runs ten pages, and It is issued on the Amex network.

Terms captured from the document include a penalty rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Margins, not APRs

The rate figures in this agreement are expressed as margins over the Prime Rate rather than as absolute APRs. A margin is not a rate: the rate is the margin plus whatever Prime happens to be.

The margins captured from the filing are 26.74 points for penalty pricing.

The practical consequence is that this card has no single disclosed price. The cost of carrying a balance moves whenever the Prime Rate moves, in lockstep and without notice, and no arithmetic on this page can tell you what it costs today.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Charges beyond interest

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater.

Transfers are charged $5 or 3% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Shifting $1,000 across attracts something like $30 in fees on day one.

Foreign transactions attract 2.7%. On $1,000 of overseas spending that is $27, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 83rd percentile of disclosed foreign transaction fees.

Default pricing

The maximum late fee is $40 — roughly the 72nd percentile of the late fee ceilings disclosed across this index.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The issuer's other agreements

American Express National Bank has 25 agreements indexed on this site.

5 of the issuer's other 24 disclosing filings are likewise fee-free.

What you cannot learn from the filing

This page cannot tell you a purchase rate, because the filing's disclosure table as read does not contain it.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

The document itself

Everything here is a reading of the filed agreement, ten pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.