Clear from American Express®

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At a Glance:

best credit card award

Clear from American Express® Won Our Editor's Choice Award For Best Rates and Fees Credit Card.

  • Issuer: American Express
  • Intro APR: 0%
  • Regular APR: 13.49%
  • APR Type: Variable APR
  • Annual Fee: $0
  • Application Fee: $0
Link to Application

Review:

Clear from American Express® is designed for those with good credit who are looking for a card with absolutely no fees and an uncomplicated reward program. Through the reward program, cardholders earn a cash rebate of 1% on all eligible purchases. The rebates are automatically issued in the form of an American Express® branded shopping card worth $25 each time the cardholder reaches $2,500 in spending. Shopping cards expire one year after they are issued. The truly unique feature of this card is that it has no fees. However, fee-free credit does not mean cardholders can forsake their payment responsibilities. If minimum payments are not paid within the grace time-period for two times during any portion of a twelve-month billing time-period, the default APR of 21.99% + Prime Rate will be applied to all balances for a minimum of twelve billing time-periods. The card also provides benefits and services commonly found with American Express® credit cards, such as auto rental insurance, a purchase protection, and up to $100,000 in travel accident insurance. It also provides a free year-end credit report including the cardholder's credit score. The APR for purchases and balance transfers is reasonably low for a reward card (for those who qualify). In addition, the card offers a 0% introductory APR for up to twelve months on purchases and a low 3.99% introductory APR on balance transfers for for twelve months if the balance transfers are submitted during the application process. Therefore, those who plan to take advantage of the reward program, the fee-free transactions, and the various services provided will benefit most from what the Clear from American Express® has to offer.

Rates and Fees:

  • Introductory Rates: The Clear from American Express® has an introductory rate of 0%, which applies to purchases and is effective for up to 12 months.
  • Purchase APR: After 12 months, when the introductory rate ends, the APR for purchases will be 13.49%. This APR is variable.
  • Cash Advance APR: The cash advance APR is 22.99%. Please note that the introductory rate does not apply to cash advances and that the cash advance APR for this particular card is variable. Please also note that the cash advance fee is .
  • APR Type: The APR on purchases for this card is variable and the APR on cash advances for this card is also variable. A fixed APR means that it is guaranteed for the life of the credit card and a variable APR means that it could change according to market conditions.
  • Balance Transfer Fee: This card does not charge an extra fee for balance transfers at this time. However, this policy may change in the future. Please contact card services if you plan on making balance transfers in the future.
  • Annual Fee: The annual fee is $0.
  • Payment Grace Period: The grace period for this credit card is 28 - 31 Days. This means you have 28 - 31 days to pay for your purchase before interest accrues.
  • Late Payment Fee: The fee for a late payment is n/a.
  • Over-The-Limit Fee: There is no over-the-limit fee.
  • Application Fee: There is no application fee.

Rewards:

  • You will earn Rebates for using this card.
  • What's the expiration policy for miles? none (shopping cards expire 1 year after they are issued.)
  • Is there a yearly point limit? none

Card Features and Perks:

  • Full Featured Online account management tools.
  • Free year-end credit report including credit score.
  • Year-end financial statement.
  • Identity theft assistance.
  • Full protection against unauthorized withdrawls and transactions.
  • Built-in ExpressPay feature that lets cardholders make purchases without having to swipe their card.
  • Purchase Protection.
  • Shop easy with merchandise return protection.
  • Extended Warranty.
  • Card replacement in case of emergency.
  • Complimentary car rental insurance.
  • Access to Global Assist® hotline.
  • Medical referral services.
  • Legal referral services.
  • Roadside assistance.
  • Free travel insurance for up to $100,000 just by being a cardmember.
  • Details and more benefits and perks can be found at the card's website.