Delta SkyMiles Reserve American Express Card Cardmember Agreement

American Express National Bank prices Delta SkyMiles Reserve American Express Card Cardmember Agreement as a margin over the Prime Rate rather than as a fixed APR, so the filing discloses the spread but not the cost. This page explains what that means and sets the other disclosed terms against the corpus.

What the document actually states

The document behind this page is American Express National Bank's filed agreement for Delta SkyMiles Reserve American Express Card Cardmember Agreement. It is issued on the Amex network and the filing runs 12 pages.

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.

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

How this filing expresses its pricing

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.

Because the filing prices off an index, the dollar cost of a balance cannot be computed from the document alone. It is the current Prime Rate that completes the sum, and that changes.

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

The fee structure

The annual fee is $650, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 100th percentile.

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

The downside terms

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

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The issuer's other agreements

This is one of 25 American Express National Bank agreements collected here.

What the filing does not tell you

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

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Go to the source

The original filing, 12 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

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.