The Knot Credit Card from American Express review

Duran Mueller
Oct 5, 2007
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One of the most important events in life – wedding is also one of the most demanding occasion. A time of big celebration, wedding requires lot of planning and of course a good amount of money. Wouldn’t it be great to have a credit card which takes the hassles out of wedding? After all it has bought convenience to many other aspects of life.

Look no further, American Express has the answer – The Knot Credit Card. Designed exclusively for those who are planning to get married, the credit card is aptly has the word ‘Knot’ in its name. Let us review the various aspects of this credit card.

The Knot credit card from American Express comes with an exclusive welcome gift, yes you guessed it right, The Knot Wedding Planning Kit. This exclusive kit helps you plan every detail of your wedding. It includes The Knot Wedding Binder, which helps you manage your wedding ideas, budgets, guest lists, to-do’s and more.

The other benefits that come with The Knot Credit Card from American Express are the 5,000 Membership Rewards® Points you get when you use the credit card for the first time. These points can be redeemed for a $50 gift card. If you spend over $15,000 on the credit card annually you are entitled to another 10,000 bonus points.

Catering specially to the wedding, this credit card helps you track your wedding related expenses with a single monthly statement. The Knot Credit Card from American Express doesn’t have any annual fee and gives you the option to pay over time or in full. Earn an Additional 10,000 Bonus Points when You Spend over $15,000 on the Card.

Interest rates and other fees

APR: Depending on the review of your application by American Express you can be offered a credit card with APR of 12.24%, 14.24% or 16.24%

Balance Transfer APR: Depending on the review of your application by American Express a balance transfer APR of 12.24%, 14.24% 16.24% will be levied for the life of the balance for balance transfer requests submitted on this application.

Cash advance APR: The Knot credit card has cash advance APR of 23.24%

Default APRs: If you default moderately, a default APR of 21.24% will apply and for seriously defaulted accounts a default APR of 30.24% will be levied.

How the default APR is levied?

There is a monthly review of every Knot credit card account and a default is considered if:

  • Minimum payments are not timely paid one time

Serious default is considered if:

  • Minimum payments are not timely paid two or more times
  • Your account is overlimit three or more times
  • Your payment is returned 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.

If a Default APR is applied, it will apply for a minimum of 12 consecutive billing periods beginning with the current billing period (unless a higher APR is triggered).