American Express® Credit Card EMI

American Express® offers an EMI facility on most of its credit cards, allowing cardholders to convert large purchases into manageable monthly instalments. Whether it's a big-ticket item or an unexpected expense, you can pay off your bill over a period of 3, 6, 9, 12, or 24 months. While interest charges usually apply to EMI plans, certain merchants offer no-cost EMIs, which can help you save on additional costs. Read on to learn more about the American Express® Credit Card EMI eligibility, fees, and how to convert your purchases into instalments.

American Express® Credit Card EMI Eligibility Criteria

The EMI facility is not available on American Express® Charge Cards but is offered on select credit cards. Eligible cards include:

  • American Express® Platinum ReserveSM Credit Card
  • American Express® Platinum Travel Credit Card
  • American Express Membership Rewards® Credit Card
  • American Express SmartEarn™ Credit Card

To avail of the EMI option, the following eligibility criteria apply:

  • The transaction amount must be Rs. 5,000 or above.
  • Purchases of Rs. 3,000 or more on Amazon can also be converted to EMIs.
  • EMI conversion must be done before the payment due date of the card statement containing the relevant transaction.
  • Transactions for categories like gold and jewellery are not eligible for EMI conversion.
  • Eligible cardmembers can convert up to 6 transactions into EMIs, as long as it is within their credit limit.

How to Convert American Express® Credit Card Bill into EMI

You can choose to convert your American Express® credit card bill into EMI either pre-purchase or post-purchase:

  • Pre-purchase EMI: At the Point of Sale (POS), whether for online or offline shopping, you can opt for EMI conversion. For in-store purchases, request the EMI option before making the purchase. For online shopping, select the EMI option on the SafeKey OTP screen during checkout.
  • Post-purchase EMI: You can also convert your bill into EMIs after the purchase via SMS, online, or email. To convert through SMS, send the following message from your registered mobile number: EMINOW Transaction Date Merchant Name EMI Tenure <3/6/9/12/18/24> to 5616166. Alternatively, fill out the online form on the official American Express website or email your request to emi@aexp.com.

Points to Remember about American Express® Credit Card EMIs

Here are some key points to keep in mind when converting your American Express® credit card purchase into EMI:

  • The EMI conversion request is usually completed within 7 to 10 days of placement, and the payable EMI will be reflected on your first credit card statement after conversion.
  • Once the EMI tenure is selected, it cannot be changed.
  • Upon selecting the EMI option, your American Express® card’s credit limit will be reduced by the combined principal and total interest amount.
  • Existing outstanding balances cannot be converted into EMIs, and one EMI plan cannot be transferred to another.
  • No Membership Rewards® (MR) points are awarded for pre-purchase EMI options at POS, including online purchases. MR points can only be earned on EMI transactions made via American Express® SafeKey and post-purchase EMI conversions.
  • The EMI amount must be paid in full every month and will always be included in the minimum due payment on the monthly credit statement.
  • For EMI cancellation in the event of a full refund from the seller, contact American Express® customer care at 1800 419 2122.
  • If your American Express® Membership is canceled, you must foreclose all EMI plans within 24 hours by contacting customer service.
  • If you wish to opt out of the EMI option, the request must be made before the payment due date. After cancellation, the remaining principal amount will be added to the revolving balance and will incur credit interest rates.

American Express® Credit Card EMI: Fees & Charges

The fees and charges for American Express® Credit Card EMIs are as follows:

Particulars Pre-purchase EMIs Post Purchase EMIs
Processing Fee Nil 2% of transaction amount
Interest Rate 14% per annum (1.17% per month) 16% per annum (1.33% per month)
Foreclosure Charges Nil Nil

Note: EMIs and the interest rates for American Express® Credit Card EMI are subject to change. It is recommended to check the latest EMI plan for your card account before every transaction.

American Express® Credit Card EMI Calculator

To calculate your EMI for an American Express® Credit Card purchase, follow these steps based on your chosen tenure. Here's an example:

  • Transaction Amount converted to EMI: Rs. 20,000
  • Processing Fee: Rs. 200 (2% of Rs. 20,000)
  • Interest Rate: 16% p.a. (1.33% p.m.)
  • EMI Tenure: 6 months

EMI Calculation:

  • Monthly EMI: Rs. 3,490

This amount includes the principal and interest. Additional transaction and service charges may also apply depending on your plan.

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FAQ for the American Express® Credit Card EMI:

American Express® offers an EMI facility on eligible credit cards, allowing cardholders to convert large purchases into manageable monthly instalments. This service is available for select cards, such as the American Express SmartEarn™ Credit Card, the American Express Membership Rewards® Credit Card, the American Express® Platinum ReserveSM Credit Card, and the American Express® Platinum Travel Credit Card. You can choose to repay your bills over periods of 3, 6, 9, 12, or 24 months. While interest charges usually apply, some merchants may offer no-cost EMI options, making it easier to manage your finances.

To avail of the EMI facility, your purchase must meet a minimum transaction amount of Rs. 5,000, although purchases of Rs. 3,000 or more from Amazon are also eligible. The EMI conversion must be requested before the payment due date of the statement that includes the transaction. Some categories, such as gold and jewellery, are not eligible for EMI conversion. You can convert up to 6 transactions into EMIs, provided you have sufficient credit limit on your card.

You can convert your purchases into EMI either before or after the transaction. For pre-purchase EMI, you can opt for EMI conversion during the checkout process—whether online or in-store. For online shopping, select the EMI option during checkout, and for in-store purchases, ask the merchant about EMI before making the payment. For post-purchase EMI, you can convert your bill by sending an SMS, filling out an online form, or emailing your request to American Express. The SMS format is: "EMINOW Transaction Date Merchant Name EMI Tenure <3/6/9/12/18/24> to 5616166."

When you convert a purchase into EMI, the request is usually processed within 7 to 10 days, and the EMI amount will appear on your first credit card statement. The EMI tenure cannot be changed once selected. After converting, your available credit limit will be reduced by the total principal and interest. Transactions that are already overdue cannot be converted into EMI, and one EMI plan cannot be transferred to another. No Membership Rewards® points are awarded on pre-purchase EMI transactions, but points can be earned on post-purchase conversions.

The fees and charges vary depending on whether you choose pre-purchase or post-purchase EMI. For pre-purchase EMIs, there are no processing fees, and the interest rate is 14% per annum (1.17% per month). For post-purchase EMIs, a processing fee of 2% of the transaction amount applies, with an interest rate of 16% per annum (1.33% per month). There are no foreclosure charges for either type of EMI.

To calculate the EMI for a purchase on your American Express® Credit Card, you need to know the transaction amount, processing fees, interest rate, and chosen tenure. For example, if you convert a Rs. 20,000 purchase into a 6-month EMI with a 2% processing fee (Rs. 200) and an interest rate of 16% per annum, the monthly EMI will be approximately Rs. 3,490. This amount includes both the principal and the interest.

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