Last Updated: June 2025 | Reading Time: 9 mins | Market: USA + India
Quick Answer: American Express credit card interest rates in the USA range from 15.99% to 29.99% APR (variable). In India, Amex charges 24% to 42% per annum (2%–3.5% per month). You pay zero interest only when you pay your complete statement balance by the due date every month.
Amex Interest Rate at a Glance — USA vs India
Before diving deep, here is the full picture across both markets:
| Market | APR / Interest Rate Range | Rate Type | Cash Advance Rate |
|---|---|---|---|
| USA | 15.99% – 29.99% APR | Variable (Prime Rate + margin) | Up to 29.99% APR, from day 1 |
| India | 24% – 42% p.a. (2%–3.5%/month) | Fixed monthly rate | Up to 42% p.a., from transaction date |
| USA Penalty APR | Up to 29.99% | Triggered after missed payment | — |
| India Late Fee | ₹100 – ₹1,300 | Flat fee based on balance | — |
🧮 Before you carry a balance, calculate your exact monthly cost. Use the Free Amex EMI Calculator → — no login, instant results.
Does American Express Have Interest Rates?
Yes — and this surprises many cardholders who assume Amex is “interest-free.”
The confusion comes from Amex’s history as a charge card company. Traditional Amex charge cards (the original Green, Gold, Platinum) required full payment every month — there was no revolving credit and no interest. That model still exists for specific products.
However, most modern American Express products are credit cards that operate on a revolving credit structure. Carry any balance past the due date, and interest is charged on that amount.
The rule is simple: pay your full statement balance by the due date every month, and you pay zero interest. Carry even a single dollar or rupee forward, and interest applies.
Key Distinction: Some Amex India products (notably the Amex Platinum Charge Card) are still traditional charge cards requiring full monthly payment — genuinely no revolving interest. But all Amex credit cards with reward points, cashback, or travel benefits operate on revolving credit and do charge interest on unpaid balances.
How Amex Calculates Interest — USA vs India
The interest calculation method differs significantly between the two markets. Understanding this helps you estimate your cost before your statement arrives.
🇺🇸 USA: Average Daily Balance Method
American Express USA uses the Average Daily Balance (ADB) method:
- Your Annual APR is divided by 365 to get the Daily Periodic Rate
- Each day’s outstanding balance is tracked across the entire billing cycle
- All daily balances are averaged = Average Daily Balance
- Interest = Average Daily Balance × Daily Periodic Rate × Number of Days in Cycle
Example: If your APR is 24.99% and you carry a $1,000 balance for a 30-day billing cycle:
- Daily Rate = 24.99% ÷ 365 = 0.0685% per day
- Monthly Interest = $1,000 × 0.0685% × 30 = $20.54
- Annualised = $246.48 per year on a $1,000 balance
🇮🇳 India: Flat Monthly Rate on Outstanding Balance
In India, Amex applies a flat monthly percentage on the total unpaid (revolving) balance from the statement date:
- Monthly Rate = Annual Rate ÷ 12 (e.g., 36% ÷ 12 = 3% per month)
- Interest = Outstanding Balance × Monthly Rate
- Interest is charged from the statement date on revolving balances
- On cash advances, interest starts from the transaction date — zero grace period
Example: Outstanding balance of ₹50,000 at 3% per month (36% p.a.):
- Monthly Interest = ₹50,000 × 3% = ₹1,500
- Annual Interest (if balance unchanged) = ₹18,000
- This means carrying ₹50,000 costs you ₹18,000 per year — just in interest
⚠️ The Minimum Payment Trap (India): On ₹1,00,000 outstanding at 3%/month, the minimum payment (~5% = ₹5,000) only marginally exceeds the ₹3,000 monthly interest. You’re reducing principal by just ₹2,000 per cycle — making it take years to clear and costing tens of thousands in interest.
Amex Interest Rate by Card — India
Interest rates vary by card type. Below are indicative rates — always verify against your card’s Most Important Terms & Conditions (MITC) document or your latest Amex statement.
| Amex Card (India) | Annual Rate (p.a.) | Monthly Rate | Cash Advance Rate |
|---|---|---|---|
| Amex Platinum Travel Credit Card | 36% | 3.0% | 42% p.a. |
| Amex Gold Credit Card | 39% | 3.25% | 42% p.a. |
| Amex Membership Rewards Credit Card | 36% | 3.0% | 42% p.a. |
| Amex SmartEarn Credit Card | 36% | 3.0% | 42% p.a. |
| Amex Platinum Reserve Credit Card | 40.8% | 3.4% | 42% p.a. |
⚠️ Rates are indicative and subject to revision. Your actual rate appears on every monthly statement and in the MITC document provided at card issuance.
RBI Regulation: Per Reserve Bank of India guidelines, all credit card issuers must disclose interest rates in annualised (per annum) terms on every statement and prominently in the MITC document. If your Amex statement does not clearly show your interest rate, contact Amex India at 1800-419-2122.
Amex Interest Rate by Card — USA
| Amex Card (USA) | Purchase APR | Pay Over Time APR | Cash Advance APR |
|---|---|---|---|
| Amex Blue Cash Preferred® | 19.24%–29.99% Variable | N/A | 29.99% |
| Amex Blue Cash Everyday® | 19.24%–29.99% Variable | N/A | 29.99% |
| Amex Gold Card | N/A (Charge structure) | 19.24%–29.99% | 29.99% |
| Amex Platinum Card® | N/A (Charge structure) | 19.24%–29.99% | 29.99% |
| Amex Green Card | N/A (Charge structure) | 19.24%–29.99% | 29.99% |
APRs are variable and tied to the US Prime Rate. Your actual current APR is listed on every monthly statement under “Interest Rates and Interest Charges.”
Pay Over Time (USA): Premium Amex cards (Gold, Platinum, Green) allow you to carry eligible charges as a balance with a separate Pay Over Time APR. This is Amex USA’s version of EMI — and nearly always cheaper than revolving credit card debt on standard cards.
How to Find Your Amex Interest Rate
🇺🇸 USA Cardholders
- Log in at AmericanExpress.com → Account → Account Services → View Account Details
- Your APR appears under “Interest Rates and Interest Charges”
- Check your monthly statement — the rate changes whenever the US Prime Rate moves
- Call the number on the back of your card to confirm your current APR at any time
🇮🇳 India Cardholders
- Log in at AmericanExpress.com/in → My Account → Statements → Most Recent Statement
- Scroll to the “Important Information” section — your rate is shown in p.a. terms
- Your MITC document (provided when the card was issued) contains the full rate schedule
- Call Amex India Customer Care: 1800-419-2122 (toll-free) to confirm your current rate
Revolving Balance vs EMI — Which Costs Less?
This is the most critical financial decision for any Amex cardholder who cannot pay their full balance. The math is unambiguous — and the difference is dramatic.
| Payment Method | ₹1,00,000 Balance | Duration | Total Interest Paid | Monthly Outflow |
|---|---|---|---|---|
| Revolving (36% p.a.) | Minimum ~5% payment | 4–5 years to clear | ₹36,000+ | ~₹5,000 (mostly interest) |
| EMI Conversion (~15% p.a.) | Fixed 12-month EMI | 12 months (fixed) | ~₹8,300 | ~₹9,026 (predictable) |
| No-Cost EMI | 0% merchant-funded | 3–12 months | ₹0 | Principal ÷ tenure only |
Converting to EMI costs roughly one-quarter to one-fifth the interest of revolving credit on the same balance — with a fixed, known payoff date and no surprises.
For USA cardholders ($5,000 balance example):
| Scenario | Duration | Total Cost |
|---|---|---|
| Revolving at 24.99% APR (minimum payments) | 3+ years | $1,500+ in interest |
| Plan It™ (fixed monthly fee) | 12 months | ~$350–$500 in fees |
🧮 Take action: Use the Amex EMI Calculator → to compare your exact revolving interest vs EMI cost. Enter your balance, your rate, and your preferred tenure — see the numbers in seconds, completely free, no login required.
Frequently Asked Questions (FAQs)
Does American Express have interest rates in India?
Yes. All American Express credit cards in India charge interest (called finance charges) on unpaid balances. Rates range from 24% to 42% per annum depending on the card. Amex India is regulated by the Reserve Bank of India and must disclose rates clearly on every statement and in the MITC document.
What is the Amex interest rate in the USA?
Amex credit card APRs in the USA range from approximately 15.99% to 29.99% APR (variable), depending on the Prime Rate and your credit profile at application. Premium charge cards (Platinum, Gold, Green) have no standard revolving APR, but their Pay Over Time feature carries its own APR in the same range.
How much is Amex credit card interest per month in India?
The monthly interest rate ranges from 2.0% to 3.5% per month (24%–42% p.a.). Most standard Amex India credit cards charge approximately 3.0% per month (36% p.a.).
Why is Amex charging me interest even though I paid on time?
Three possible reasons:
(1) You paid on time this month but carried a balance from last month — that prior balance already accrued interest now showing on your current statement.
(2) You made a cash advance — these accrue interest from the transaction date with no grace period whatsoever.
(3) You are on a Pay Over Time plan (USA) — plan balances carry their own APR separate from standard new purchases.
How to find the interest rate on my Amex credit card?
India: Log in → AmericanExpress.com/in → Statements → “Important Information” section.
USA: Log in → AmericanExpress.com → Account Services → “Interest Rates and Interest Charges.” You can also call the number on the back of your card.
Can I avoid Amex interest charges completely?Can I avoid Amex interest charges completely?
Yes — pay your full statement balance (not just the minimum) by the payment due date every month. During the grace period (21–25 days after statement close), no interest accrues on purchases. For large planned purchases you cannot pay in full, converting to EMI is the next-best option to minimise interest cost.
📌 Related Reading: Amex International Charges & Fees | Is Amex Interest Free? Grace Period Explained | Amex EMI Calculator — Free Tool
Disclaimer: Interest rates are indicative and subject to change. Always verify your current rate on your Amex statement. This article is for informational purposes only and does not constitute financial advice.