Cash Rewards American Express Card Terms and Conditions

On the record for Cash Rewards American Express Card Terms and Conditions: a purchase APR of 12.24%–23.24%, no annual fee and a six-month 0% opening period, filed by Union Bank & Trust. The purchase rate sits at roughly the 55th percentile of the 4,587 agreements indexed here.

What this filing discloses

Union Bank & Trust submitted the terms for Cash Rewards American Express Card Terms and Conditions to the CFPB's agreement database; this is what they contain. The filing runs three pages, and It is issued on the Amex network.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate and a grace period.

What the promotional rate is worth

A six-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

Behind the promotion sits a 23.24% purchase rate. On $5,000 that is in the region of $1,308 a year once the window closes.

The promotional window is therefore worth something on the order of $654 on $5,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

Rather than a single purchase rate, the document gives a band — 12.24% at the bottom, 23.24% at the top, 11 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 18th percentile of filed purchase rates; the ceiling sits at about the 55th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

The cost of carrying a balance

The purchase rate turns a $1,200 revolving balance into roughly $314 of annual interest.

Against the corpus median of 21.99%, that is approximately $19 a year of extra interest on the same $1,200.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

What a missed payment costs

Late payments are capped at $37 under this filing, about the 59th percentile of late fee maximums in the corpus.

Fees, and what triggers them

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 24.24%. That is 1 points above the purchase rate. The two halves of that fee cross at about $167: below it the flat $5 applies, above it the percentage does. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The transfer fee is $5 or 3% of the amount transferred, whichever is greater; transferred balances then run at 12.24%. Shifting $1,000 across attracts something like $30 in fees on day one.

The filing sets a 3% foreign transaction fee, which adds roughly $150 to $5,000 spent outside the United States.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

The no-interest path

The $2 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Against the rest of Union Bank & Trust's filings

7 separate Union Bank & Trust filings appear in the corpus. Their disclosed purchase rates run from 21.24% to 23.24%, and this one at 23.24% is more expensive than 2 of them.

On fees, 3 of the 6 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What you cannot learn from the filing

This page cannot tell you a grace period and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Reading the agreement yourself

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

In short

At 23.24% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.