Curious about Amex Credit Card Interest Rates!
Hello everyone
I was just comparing credit cards and wondering how Amex’s interest rates stack up against others. Any recent experiences or insights on their rates? Would love to hear what you have to say about this
American Express (Amex) credit card interest rates in India typically range from 35-42% per annum (around 3-3.5% per month), depending on the specific card and the cardholder’s credit profile. Compared to other banks, Amex interest rates are on the higher side, but they offer premium benefits, such as rewards, travel perks, and exclusive offers. If you clear your dues within the grace period, you can avoid interest charges altogether. It’s always best to check your card’s terms or contact Amex directly for the most up-to-date rates.
When I first looked into American Express (Amex) credit cards, I noticed the interest rate wasn’t the same for all cards. It depends on the specific card, how you use it (purchases, cash withdrawals, balance transfers), and whether you miss payments (default rates).
So, you need to check the terms for your Amex card before you assume.
That said, here’s what I found from the official source:
• Amex states that interest rates vary by card and usage — there are different rates for purchases, cash advances, etc.
• The Schedule of Fees & Charges (India) published by Amex shows, for many of their credit cards, a per-month interest rate of 3.50% and a default (penalty) rate of 3.99% p.m. for late payments.
• Also, for the Amex SmartEarn™ Credit Card, they mention an EMI interest rate “as low as 14% p.a.” when converting purchases to installments.
• 3.50% monthly works out to a very high annual rate when you compound (this is common for credit cards).
• If you miss payments or delay, the default rate kicks in (higher than the normal rate).
• The “EMI interest rate” is a separate scheme where you convert a purchase into installments over months, and that often has different rates (like the 14% p.a. example above).
• Your individual rate might differ based on your credit history, your card variant, and negotiating power.
here’s the official page for Amex India’s credit card interest info:
