When or what is my minimum payment due on my American Express® Credit Card?  

The Minimum Payment is the lesser of (1) or (2), calculated as follows:

1) the total of: (a) any previously billed minimum payment that remains unpaid on the Closing Date of the statement + (b) if applicable, installment amounts (including installment fees) charged on the billing statement PLUS

(for non-Quebec residents): (c) $10 + (d) Interest, Overlimit fees and Dishonoured Payment fees; or

(for Quebec residents whose Accounts were opened on or after August 1, 2019): (c) 5% of the remaining balance owing that month.

(for Quebec residents whose Accounts were opened prior to August 1, 2019): (c) 2% for statements dated on or after April 1, 2020, and the following percentages apply for statements dated on or after the following dates:

August 1, 2020 – 2.5%;

August 1, 2021 – 3%;

August 1, 2022 – 3.5%;

August 1, 2023 – 4%;

August 1, 2024 – 4.5%;

August 1, 2025 – 5%.

OR (2) the entire new balance of the billing statement.