How much will I be charged if I withdraw Cash from my American Express credit card.
Please let me know the rates in case if cash is withdrawn in India and America, both the countries.
2007-08-15 17:39:51 · 7 answers · asked by supershweta 1 in Business & Finance ➔ Credit
American Express usually does NOT charge for cash advances, however interest on cash advances is typically charged from the day of the cash advance. This is different than charged items, they don't tack on interest until you fail to pay in full at the end of the month. If you don't pay the statement balance each month, the interest charges start accruiing from then on.
Cash advances come out of American Express immediately, so they have to charge you interest on the advanced cash. Credit purchases don't cost American Express anything until they have to deposit money in the merchant account, and they get a "discount fee" whenever you charge something, which helps them pay their own bills.
You could contact AMEX by e-mail and ask them directly, or call on the phone, it may depend on the kind of account you have.
Go to http://www.americanexpress.com
call New Delhi customer service
00 91 1242801800
or Mumbai
00 91.9892600800
Jeff
2007-08-15 17:55:21 · answer #1 · answered by Dr.T 5 · 0⤊ 0⤋
Look on your statement in category B for ATM & Cash Advance. It will tell you what interest rate you pay for this type of transaction. It depends on each customer. Some get 24.24%, some get 32.24%. The simpliest thing you can do is to call the Amex, they will tell you exactly how much it will cost you.
Don't forget ATM and Cash advance transaction fee has no max. It means they can charge you between 3-4% transaction fee + interest. ATM and Cash Advance interest accrue daily. If you want to wait, you can call AMEX and have them deposit money into your checking account with a promo rate and depends on each customer, you may have a fixed transaction fee. It will take between 4-6 business days for the money to be available.
You certainly can get cash advance with your Amex. They love for you to take cash advance because they charge you at a higher interest rate.
2007-08-16 07:14:14 · answer #2 · answered by Notredame 3 · 0⤊ 0⤋
Why are you asking us instead of American Express ?
What is up with that ?
Do you think they will lie ?
Do you think we know all the card companies rates for cash advances and for currency conversions ?
Call the toll free number on the card and get the correct info . . .
>
2007-08-15 17:59:33 · answer #3 · answered by kate 7 · 0⤊ 0⤋
You need to call your credit card company about this. There are so many different rates, etc. that they will be the only ones to give you the real answer.
2007-08-15 17:47:15 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Call up AMEX. I do know that if you are in a foreign country they charge a "currency conversion" fee which can be 3-5% of the charged amount.
2007-08-15 18:22:34 · answer #5 · answered by Richard S. 3 · 0⤊ 0⤋
call to credit card company and ask everything to you want. it has different types of rates. Only real answer you can get from credit card company. Read more about American Express at: http://www.credit-card-gallery.com/american_express_credit_card.html
2007-08-16 00:30:13 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Read your cardholder agreement. Or look at the back of your statement. It's all explained in detail right there.
2007-08-15 18:28:19 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋