Random Recipes

The MITC updated as on January 2012 and circulated by American Express Banking Corp. as a part of all Credit Card applications in compliance to Master Circular on Credit Card Operations of Banks issued by Reserve (a) FEE AND CHARGES FTO/NFTO Transfer 800 (FTO) Free NFTO 800 (FTO) 250 (NFTO) Free FTO FTO: Frequent Traveller Option. NFTO: Non Frequent Traveller Option. (iii) & (iv) Cash Advance Fee and Service Charges Levied for Certain Transaction. Cash Advance Fees Cash On Card/Cash Advance 3.5% per Transaction subject to a Services / Transactions 2.5% per transaction Duplicate Statement Fee ` statements older than 3 months previous monthly statement by the payment due date and Cardmember pays the full Closing Balance on the current Cardmember has not availed of any Cash advance or Balance Transfer. : Transaction date: 2nd June, Billing Cycle date 1st of every month, Payment due date: 22nd July, Interest (vi) Finance Charges for both Revolving credit and cash advances – For Finance Charges for both Revolving credit and cash advances please refer to Table I. Interest is payable at the monthly percentage rate on all charges from the date the Cardmember incurs the transaction • The daily percentage rate (monthly rate multiplied by Adding up the daily interest charges for the applicable Interest, if payable, is debited to the Cardmember’s Account on the last date of each statement period and is shown on the statement separately. While, for other charges it is from the next cycle date, if the Cardmember is on a non- Cardmember will pay interest on all the charges outstanding at the monthly average rate shown on the statement as amended by American Express from time to time. American Express may vary the interest rates applicable to the Account at any Transaction 20th Apr 10 25th Apr 10 Total Amount Due: 15000 / Min Amount Due: 750 Daily Interest = (Outstanding amount * 3.5%*12)/365 Interest Calculation: Transaction 20th Apr to 1st 25th Apr to 1st 11.5 Interest rate is 3.50% per month (APR 42%) (3.10% per month / APR 37.2%) in case of King�sher First Credit Card. Cardmember will be charged a revised rate of 3.99% per month (Annual 47.88% p.a.) (3.5% in case of King�sher First Credit Card) (Annual 42% p.a.) if the Minimum Amount Due is not paid by the due date twice in a 12-month period. This rate would also apply if the ‘Minimum Amount Due’ remains unpaid for two consecutive statement periods (three consecutive statement periods for King�sher First Credit Card). The monthly statement of account will re�ect the changed rate. This rate will be applicable for a period of 12 months before it is reviewed. By paying the ‘Minimum Amount Due’ or more by the due date at least 11 times in the next 12 months, the interest rate charged will revert back to 3.99% p.m. (47.88% p.a.) for all other Credit Cards whereas maximum of 3.50% p.m.(42% p.a.) if the ‘Minimum Amount Due’ is not paid by the due date twice in a 2-month period. This rate would also apply if the ‘Minimum Amount Due’ remains unpaid for two consecutive statement periods (three consecutive statement periods for King�sher First Assuming the Cardmember is on a revolving mode and the statement is generated on the 1st of every month. If the opening balance on the 1st of the month was 10000 with no transaction thereafter and the applicable rate of interest is 3.99% per month, the �nance charge that will appear in the next month’s statement will be calculated as under: 13.11 (Daily Interest) Monthly Interest = 13.11 * 30 = The Cardmember may refer to the statement to see his If American Express does not receive the minimum payment by the payment due date (as shown on the monthly Card statement), a late payment charge of 20% of the Minimum Amount Due as shown on the Card statement, subject to a minimum of service tax will be levied to the Card Account. In addition to vi) will also apply. (b) DRAWAL LIMITS (i) & (ii) Credit Limit and Available Credit Limit The Card Carrier enclosing the Credit Card will show the initial Credit Limit & Available Credit Limit applicable to limit for each billing period during which there is any activity or a balance outstanding on his Account. Non-receipt of the statement for any reason whatsoever is not a valid reason for non-payment of at least the minimum payment due. Should the Cardmember not receive the statement within 10 days from the date of his usual statement date, please call American Express to check the amount payable. The statement of Account will be sent to Cardmembers through online and view the Card statements online by logging on to (ii) Minimum Amount Payable The monthly statement will show the minimum payment the Cardmember needs to pay American Express which any instalment due under any extended/deferred payment plan that American Express may offer. If you choose to pay the minimum payment indicated in the Card statement by the due date, interest as �nance charges shall be levied on the amount revolved till such time the entire outstanding amount is paid in full. For 5,000 if minimum amount due is paid every month (subject to a minimum amount of 100 every month), it will take upto 90 months for entire through a crossed draft or cheque payable to “AEBC Card No. 3769 xxxxxx xxxxx” Payment to the Card Account can Should the Cardmember require any assistance, the 24 hours call centres of American Express can be contacted at these numbers: King�sher First Credit Card: 0124-280 1100, 1800-180-1249, 1800-419 1249, Gold Credit Card : 0124-280 1122 1800-419-2122, Green Credit Card : 0124- 280 1800, 1800-419-3646, IA Gold : 1800-180-1666, 0124- 280-1666, 0124-4650266, IA Green : 1800-180-1261, 0124- (vi) Grievances Redressal Escalation – Contact If the Cardmember is unsatis�ed with the response received, Ms. Ashima Chopra / Mr. Ashish Pandey, Cybercity Tower C, DLF Bldg. No.8 Gurgaon – 122002 (Haryana). Mr. Rajiv Bathla Head of Operations American Express Banking Corp. Cybercity, Tower C, DLF Bldg. No.8, Sector 25, DLF City Ph II, Gurgaon – 122002 (Haryana). If you are not satis�ed with the response or if you have not received a response from us within a month, you may approach the Banking Ombudsman for redressal. Please (viii) Toll Free number for Customer Care Services For Customer Care Services, please use our call centre IA Credit Card If the Cardmember makes a charge in a currency other than Indian Rupees, that charge will be converted into Indian Rupees. The conversion will take place on the date the charge is processed by overseas American Express, which may not be the same date on which the charge was made as it depends on when the charge was submitted to American Express. If the charge is not in U.S. Dollars, the conversion will be made through U.S. Dollars, by converting the charge amount into U.S. Dollars and then by converting the U.S. Dollar amount into Indian Rupees. If the charge is Unless a speci�c rate is required by applicable law, the overseas American Express treasury system will use conversion rates based on interbank rate that it selects from customary industry source on the business day prior to the processing date, increased by a Currency Conversion Factor assessment (currently 3.5%) on such charges. If charges American Express, any conversions made by those third (d) DEFAULT AND CIRCUMSTANCES (i) Procedure (including notice period) for reporting a A Card Account would be overdue or in default due to one or Cheque or ECS payments that are not honoured for the Failure to pay the full amount by the Due Date (as on the Platinum Card Account Statement) • If any statement made by the Cardmember to American Express in connection with his Platinum Card was false or For failure to comply with the Terms & Conditions of the If a petition for Cardmember’s bankruptcy is issued or if any attempt is made by any other creditor to seize any of his property. If Credit Cardmember’s Account is in default, American Express requires him to pay immediately all sums outstanding on his Account and American Express reserves the right to cancel his Card. Cardmember Account rolling into 90 statement) for over Rupees Five thousand are reported Cardmember. If the outstanding amount is more than Type of Card Air Accident Insurance for of the annual fee. The bene�t remains available as long as In addition to the above, American Express Indian Airlines cause. Where American Express terminates the Agreement, all monies outstanding on the Account (including charges Re-instatement implies extending / offering the membership back to the Cardmember once after it was cancelled previously. American Express offers a re-instatement to the Cardmember under the following conditions: - Incase Cardmember had attrited voluntarily and comes back requesting for the membership within 1 year of cancellation. If American Express has cancelled the Card Account (due to derogatory reasons), then an evaluation based on companies policies and procedures will be undertaken at customer’s request. (i) Procedure to be followed in case of loss / theft/ misuse The Cardmember must notify American Express immediately if the Credit Card is lost, stolen, mutilated, not received when due or if he suspects that the Credit Card is being used without his permission. In the case of loss or theft of the Card, the Cardmember must �le immediately a First Information Report (FIR) with the police station nearest to the place of occurrence and �le a detailed report with American Express enclosing a copy of the FIR. If the lost Credit Card is subsequently received, it must not be used. The Replacement Credit Card and subsequent renewals of and stability of the �nancial system. All Banks and �nancial institutions participating in this initiative are required to share customer data with CIBIL. In view of this, American Express informs the Cardmember that the Bank shall be reporting data (positive or negative) relating to his account from time to time to CIBIL and any other agency as the Bank may deem �t. information with its group / associate / entities or companies when American Express have tie-up arrangements for providing other �nancial service products, until and unless clearly stated otherwise by the Cardmember.