Clear from American Express®

Editorial Review: Clear from American Express®

Clear from American Express® is a truly unique credit card because it has no fees of any kind. That means no annual fee, no balance transfer fee, no late fees, and no over limit fees.

In addition, Clear from American Express® offers a simple cash back rewards program that will earn you 1% cash back on all of your purchases. Few other credit cards offer a full 1% cash back on all purchases. Top

Rewards

Clear from American Express® offers a cash back credit card rewards program. You will earn 1% cash back for every eligible purchase you make with this credit card. Most purchases are considered eligible with the exception of balance transfers, cash advances, traveler’s checks, etc.

Once you have spent $2,500 on the card, Amex will send you a $25 gift card that can be used anywhere American Express is accepted. There are no limits to the amount of cash rewards you can earn. Top

Introductory Rates and Balance Transfers

Clear from American Express® features a 0.00% introductory APR on purchases for one year and a 5.99% rate on balance transfers for the life of the balance.

There is no balance transfer fee associated with the balance transfer offer. The balance transfer must be requested at the time of application.

Note: Clear from American Express® will apply payments to purchases at lower APRs before purchases higher APRs. Top

Fees, Costs, and Interest Rates

Clear from American Express® has no fees of any kind. There is no annual fee, no balance transfer fee, no late fee, no over limit fee, etc. This does not mean, however, that you can be late or go over the limit without penalties.

American Express may consider your account in default if you are late or over limit twice in 12 calendar months and can apply a penalty APR of over 20% to your account.

The regular interest rate for Clear from American Express® is the prime rate plus 5.99%, 7.99%, or 9.99% (depending upon your credit history).

American Express uses the average daily balance (including new purchases) method of computing the balance for purchases, and offers a grace period of at least 28 days and up to 31 days, depending on the month. Top

Acceptance Rate and Credit Limits

Clear from American Express® is selective. Applicants with average credit or better may be approved. Applicants with slightly below average credit scores may be not approved.

Applicants with FICO credit scores above 700 are usually accepted; applicants with FICO credit scores between 650 and 700 may be accepted depending on your credit usage, history, and income. Don’t know your score? Get it free now.

Applicants with FICO credit scores below 640 may only be accepted for Clear from American Express® if you have a high income and low credit utilization and your recent credit history shows substantial improvement.

Based on our experience with American Express cards, credit limits for Clear from American Express® may range from $1,000 to $8,000 or more. Top

Pros and Cons

Clear from American Express® - Pros

No fees of any kind

Simple cash rewards

5.99% life-of-balance APR

Clear from American Express® - Cons

Rewards limited to Amex Gift Cards

Apply for Clear from American Express Now »

Customer Reviews

Do you have or have you applied for Clear from American Express®? Please submit your opinion! To control SPAM, your review may take 12-24 hours to appear. Top

Important: We take care to ensure all card terms described on this website are accurate and up-to-date. Creditors change terms, including APRs, frequently, however. While we usually update our reviews within 1-5 days of notification, never apply for or accept any credit offer before carefully reviewing the offer terms and conditions found directly on the creditor's website.