Credit Card Interest Rates

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Calculating interest
The David Jones American Express Card is a convenient way to pay for everyday purchases. A credit card is a lending product and when you make a transaction using your Card, American Express is lending you that amount. As a Cardmember, you have flexibility when paying your monthly bill. You can choose to pay your balance in full by the payment due date or you can spread your payments out over a longer period of time. You will always be required to pay at least the minimum amount due by the due date every month.

When interest is charged
If you pay your balance in full so that we receive your payment by the payment due date, interest will not be applied to any of your purchases. If you choose to carry a balance, or if we receive your payment late, interest charges are calculated and charged to your account. Interest is charged on balance transfers and cash advances from the day the transaction occurs.

How to manage interest charges
The best way to avoid interest charges is to make your payments early or pay your balance in full and on time.

Remember, the processing time varies by financial institution and by method of payment (BPay, internet banking, mail, and bank branch). Confirm with your financial institution to ensure we receive your payment by the due date.

Direct Debit is a great tool to help ensure you meet your monthly minimum payment.

How is interested calculated on my David Jones American Express Card?
If you have not paid your previous month’s statement balance in full, interest is charged on a daily basis on any unpaid balance from the standard plan closing balance of the previous month’s statement. Interest is charged on all new purchases from the date of transaction, when the total balance is not paid in full on or before the payment due date.

If you made a credit plan purchase using a deferred payment promotion, the credit plan purchase is treated for interest purposes as a purchase made on the last day of the deferred payment period. Accordingly, we will not charge interest on the purchase until the last day of the deferred payment period.

If you have taken an interest free instalment credit option, you will not be charged interest on your credit plan closing balance if you pay at least the minimum payment (including the monthly instalment amount) by the due date. Otherwise we charge interest on your credit plan closing balance (less any credit plan purchases subject to deferred payment promotions) from the beginning of the statement period (or the date of purchase in the case of non-payment of the first instalment due) until at least the minimum payment has been made.