Detected in the CFPB-filed cardholder agreements from American Express National Bank. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
Forced arbitration
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…a description of your payment obligation for this Account, call us at 855-531-0379. If you are a covered borrower under the Military Lending Act, the Arbitration provision of the Claims Resolution section of this Agreement will not apply to you in connection with this Account. However, if you elect arbitration, we will…”
You can't band together with other cardholders in a class action.
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“…ll have the right to litigate that claim in court or have a jury trial on that claim. Further, you and we will not have the right to participate in a representative capacity or as a member of any class pertaining to any claim subject to arbitration. Arbitration procedures are generally simpler than the rules that apply in…”
Slip up and your rate can jump to a much higher penalty APR.
Jumps to ~26.74%
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“…. See Explanation of Variable Rates below. APR for Cash Advances Prime Rate + 21.99% This is a variable APR. See Explanation of Variable Rates below. Penalty APR and When Prime Rate + 26.74% it Applies This is a variable APR. See Explanation of Variable Rates below. We have the right to apply the Penalty APR t…”
“…. See Explanation of Variable Rates below. APR for Cash Prime Rate + 21.99% Advances This is a variable APR. See Explanation of Variable Rates below. Penalty APR and When Prime Rate + 26.74% it Applies This is a variable APR. See Explanation of Variable Rates below. We have the right to apply the penalty APR t…”
“…. See Explanation of Variable Rates below. APR for Cash Advances Prime Rate + 21.99% This is a variable APR. See Explanation of Variable Rates below. Penalty APR and When it Prime Rate + 26.74% Applies This is a variable APR. See Explanation of Variable Rates below. We have the right to apply the Penalty APR t…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…solve a complaint to your satisfaction, this section explains how claims can be resolved through mediation, arbitration or litigation. It includes an arbitration provision. You may reject the arbitration provision by sending us written Page 4 of 6 notice within 45 days after your first Card purchase. See Your Right to Reject Arbitratio…”
“…solve a complaint to your satisfaction, this section explains how claims can be resolved through mediation, arbitration or litigation. It includes an arbitration provision. You may reject the arbitration provision by sending us written notice within 45 days after your first Card purchase. See Your Right to Reject Arbitration below. For…”
The purchase rate was not broken out by credit tier — the issuer reported a single range.
Lowest offered19.49%
Median19.99%
Highest offered20.24%
Cash advance APR
The cash advance rate was not broken out by credit tier — the issuer reported a single range.
Lowest offered28.74%
Median29.24%
Highest offered29.49%
Every fee on this card
Annual fee$5,000
Balance transfer feeNone
Cash advance fee5% (min $10)
Foreign transaction feeNone
Purchase transaction feeNone
Late fee$29
Repeat late fee (6 mo)$40
Over-limit feeNone
Minimum finance chargeNone
Balance computationAverage daily balance including new purchases
Additional fees
Returned Payment$29
Plan FeeA monthly fee up to 1.33% of each purchase placed in a plan based on: either the APR that would otherwise apply to that purchase (for purchases in a Pay Over Time balance) or the APR that applies to the Pay Over Time feature at the time you create the pla
Initiation Fee$10,000
Rewards, benefits and features
Rewards
Other rewards
Services
Access to Free Credit Scores
Automobile rental insurance
Discounts on purchases of goods and services (non travel related)
Extension on manufacturer’s warranty
Features
Contactless Payments
Chip card
Fee-free foreign transactions
Mobile wallet provisioning (for example, Apple Pay)
Issuer note: Membership rewards
Who can get this card
AvailabilityNational
Membership requirementsOpen to the public
Balance transfer
This card does not offer a balance transfer rate.
Cost to carry a balance
Interest for a year at 19.99%$599.70
Annual / periodic fees$5,000
Total yearly cost$5,599.70
Simple interest on a constant balance — a plain-language upper bound rather than an amortisation schedule. Paying in full each month within the 25-day grace period avoids the interest entirely.
Cardholder agreements
25 documents filed by American Express National Bank in the 2026 Q1 archive.