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IMPORTANT INFORMATION REGARDING YOUR APPLICATION
The information in this application is accurate through 08/31/2008. This information may have changed
after that date. To find out about any changes or to apply by phone, please call us at 1–888–396–OPEN. |
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| Annual Percentage Rate for Credit Requests |
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Annual Percentage Rate for Defaulted Accounts |
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Variable Rate Information |
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Grace Period for Repayment of the Balance of Credit Request |
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Method of Computing the Balance of Credit Request |
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Annual Fee |
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Minimum Finance Charge |
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| 7.99% up to
12.99%. The APR is determined by us based on our credit evaluation and a number of other factors including the size of the credit
line.
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21.99% on defaulted accounts;
27.99% on all balances for seriously defaulted accounts. See explanation below* |
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Your APRs may vary. The APR for
Credit Requests is determined each billing period and is equal to the
Prime Rate plus 1.99%, 2.99%, 3.99%, 4.99%, 5.99% or 6.99%. The APRs for
defaulted accounts and seriously defaulted accounts are determined for each
billing period by adding 15.99% and 21.99%, respectively, to the Prime
Rate†. |
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No Grace Period. |
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Average daily balance (including new Credit Requests). |
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Your annual fee depends on the credit line assigned to your account. If your credit line is less than $15,000, your annual fee is $99. If your credit line is $15,000 or greater, your annual fee is $149.
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$0.50 |
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| • Other Fees: Late Payment
Fee: $15 on balances less than $100, $35 on balances of $100 to $1,000, and $75 on balances greater than $1,000. Overlimit Fee: $35. |
• Patriot Act Notice: Federal
law requires all financial institutions to obtain, verify and record information
that identifies each person who opens an account, including your name, address,
date of birth and other information that will allow us to verify your
identity.
Direct Draw: Transactions processed by 3:00 p.m. ET will be
available the next business day. All other requests after that time will be
available within two business days. |
*Your account is
reviewed monthly and will be considered in default if during the Review Period a
payment of the Minimum Amount Due is not credited to your account by the Payment
Due Date in any two billing periods or you exceed your credit limit on three or
more occasions, or seriously in default if (a) payment of your Minimum Amount
due is not credited to your account by the Payment Due Date in any three or more
billing periods, (b) payment of Minimum Amount Due is not credited to your
account by the Payment Due Date in any two consecutive billing periods, or (c)
payment on your account is not honored by your bank or financial institution, in
each case during any portion of the 12-month period ending with the Closing Date
of the current billing period ("Review Period").
†The Prime Rate for each billing period is the Prime Rate published
in The Wall Street Journal on the first day of that billing period or two
days prior to the closing date of that billing period, whichever is higher. For
either of those days that is not a customary publication day for The Wall
Street Journal we will substitute the closest preceding customary
publication day. Variable APRs are accurate through 08/31/2008.
The terms of your account, including APRs, are subject to change. The APRs for
this offer are not guaranteed; APRs may change to higher APRs, fixed APRs may
change to variable APRs, or variable APRs may change to fixed APRs. We may
change the terms (including APRs) at any time for any reason, in addition to APR
increases for failure to comply with the terms of your account. Any changes will
be in accordance with your Cardmember Agreement. The information in this
application is accurate through 08/31/2008.
New York residents may contact the New York Banking Department to
obtain a comparative list of credit card rates, fees, and grace periods by
calling 1-800-518-8866.
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Our Agreement
• By submitting this application, I
as the Authorizing Officer designated herein and the Company (a) request that
you open an account in the name of the Company, (b) request that a Card be
issued on that account as indicated on this application, (c) understand that you
will renew and replace the Card until I cancel, (d) agree to be liable for all
charges to the Card Account now or in the future, (e) agree to be bound by the
agreement governing the account, and, (f) REPRESENT THAT THE ACCOUNT WILL BE
USED FOR COMMERCIAL OR BUSINESS PURPOSES. I understand that the agreement
governing the account includes an arbitration provision, which impacts my
opportunity to have claims related to the account heard in court or resolved by
a jury, and to participate in a class action or similar proceeding. I
understand that the agreement governing the account also provides, among other
things, that the account terms, such as fees, are subject to change. I understand that the account may not be issued to me if this form is altered, the information on it is not complete, accurate or verifiable, I do not meet applicable criteria bearing on my creditworthiness or if I have responded to another pre-selected offer within the last 90 days or have another Business Line of Credit product from you. I understand that I must provide all the information requested in this application and I certify that such information is accurate. All applicants must have been in business for at least two years. I authorize you to verify the information on this application and to receive and exchange information about me including requesting reports from consumer reporting agencies. If I ask whether or not a consumer report was requested, you will tell me, and if you received a report, you will give me the name and address of the agency that furnished it. I authorize you and your affiliates and subsidiaries to contact these sources for information at any time and to use any information obtained about me for marketing and administrative purposes.
The OPEN from American Express lines of credit range from $10,000 to $50,000. Your exact line size will depend on your specific personal and business financial history. However, in the event that you do not qualify for the minimum $10,000 line, we may contact you to offer you an alternate product.
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| • Membership Rewards® program –
Terms and Conditions of the Membership Rewards program apply. If you are an existing American Express Cardmember with a Membership Rewards relationship, your account will be linked to that existing relationship and a $10 fee may be assessed for each relationship. Annual linkage fees may also apply if you have a Corporate Card or Business Card from OPEN from American Express® linked to your Membership Rewards account. For more information on the Membership Rewards program, visit www.open.americanexpress.com/smallbusinessrewards or call 1-800-AXP-EARN (297-3276).
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Express Cash
• By accepting the Card, I am also requesting to be considered for your Express
Cash ATM program. The Express Cash terms and conditions, including fees, will be
printed on the Card Agreement. If I am approved for this program, you will issue
me a Personal Identification Number (PIN).
This offer is not available to residents of Puerto Rico. |
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OPEN from American Express Business Line of Credit are issued by American Express Bank, FSB.
© 2008 American Express Bank, FSB. |
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