Important disclosure
Pros and cons
For Essential Credit Card
Benefits
- Lower than average ongoing variable purchase rate
- Rewards Available through Amex Membership Rewards Gateway
- No Annual Fee
- Ability to convert large purchases into instalment plans
- Apple Pay, Google Pay and Samsung Pay available
- Free supplementary cards
- Extended warranty
- Purchase protection insurance
Drawbacks
- No balance transfer
American Express Rate Credit card overview
For Essential Credit Card
Details
Card Level Standard | Card Type AMEX |
Interest Free Days 55 | Minimum monthly repayment 2.5% or $30 |
Minimum credit limit $2k | Maximum credit limit $25k |
Free supplementary cards | Instant Approval |
Target Market Determination Visit American Express Australia Limited to view Target Market Determination. |
Fees
Annual Fee $0 | Annual Fee Spend Waiver |
Supplementary card annual fee $0 | Late Payment Fee $30 |
Over limit fee $15 | Duplicate statement fee $10 |
Electronic Wallet Service
Important Rates
Rates
Purchase Rate 18.99% p.a |
Cash advance rate |
Cash advance fee |
Balance Transfer
Balance Transfer Rate Not Applicable |
Transfer Limit |
Balance Transfer Fee |
Overseas spending
Foreign Exchange Fee 3% on Amex |
Overseas charges |
Estimated ATM Cost - |
Rewards
Program name Amex Membership Rewards Gateway |
Rewards Available Gift Card |
Eligibility
Minimum age 18 |
Minimum income $40k |
Eligibility conditions - |
Residency |
Perks
- FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 18 years of age
- EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
- PURCHASE PROTECTION INSURANCE Covers up to $10,000 per year
- Other Earn Membership Rewards points with a $0 annual card feewhen you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.
Other Restrictions
Cash Advance and Balance Transfers not available