Amex EveryDay Preferred Card Cardmember Agreement

Pricing in American Express National Bank's Amex EveryDay Preferred Card Cardmember Agreement agreement is expressed relative to the Prime Rate. This review treats those figures as margins, which is what they are, and compares the fee terms that can be compared.

What this filing discloses

What follows is drawn entirely from American Express National Bank's CFPB filing for Amex EveryDay Preferred Card Cardmember Agreement. 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.

A margin over Prime, not a rate

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 filing's margin figures come to 26.74 points for penalty pricing.

No cost illustration appears in this section for a reason: multiplying a margin by a balance produces a meaningless number. The real rate is Prime plus the margin, and Prime is not in this document.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

Penalty pricing and late fees

$40 is the disclosed ceiling on a late payment fee, placing it near the 72nd percentile of the set.

The fee structure

Holding the card costs $95 a year before any transaction takes place — about the 92nd percentile among agreements in this index that state a fee.

For cash advances the filing discloses a cash advance fee of $10 or 5% of the advance, whichever is greater.

A balance transfer costs $5 or 3% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. Shifting $2,000 across attracts something like $60 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.

How it sits in the issuer's own range

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

Its $95 annual fee is higher than 7 of the 24 sibling filings that state one.

What you cannot learn from the filing

Absent from the captured terms: a purchase rate. The original document is the place to look for any of these.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Where the authority sits

This summary stands or falls on the linked PDF — ten pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.