American Express Clear Card Review

American Express Clear Card has no fees and offers cash back rewards. The lack of fees: the Amex Clear does not have an annual fee, a late payment fee, an over-the-limit fee, balance transfer fee, or a fee for cash advances, is what makes it the “clear card”. This is unprecedented among credit cards. With a healthy rewards program and a low APR, this makes the American Express Clear Card one of the best credit card plans available.

Clear Card Rewards: In addition to the lack of fees, the Clear Card gives 1% cash back on all eligible purchases. After you spend $2500 on the card, you’ll automatically be issued a $25 gift card. Many other credit cards require cardholders to monitor their rewards points and request their cash rewards once they have enough points built up. Not the Clear Card, it does all the work for you and sends a gift card automatically.

Card Protection: Like other Amex cards, The American Express Clear Card offers enhanced fraud protection, as well as travel insurance, such as car rental insurance and $100,000 in travel accident insurance. The card also offers a free credit report at the end of the year – something else that’s unique for a credit card and ensures that cardholders don’t have to do the legwork.

About the Fees: Just because the card doesn’t have fees for late payment doesn’t mean you’re in the clear if you don’t pay your bill month to month. The Clear Card will raise your APR if you don’t pay your bill within the grace period twice in a twelve month period. Most credit cards will raise your APR for not paying the bill on time, but the Clear Card will raise your bill to over 20%, so you should pay your Clear Card bill on time regardless of fees.

Conclusion: The American Express Clear Card is a very good credit card. Many times, a credit card will offset low fees with a higher APR, or vice versa. The Clear Card has both a low APR and low fees, so it is highly attractive. While it doesn’t have an extremely generous rewards program, 1% on purchases is still respectable. So long as you pay your bill on time, the Clear Card from American Express has very solid terms.