Originally Posted by
Steve M
I took a closer look at mine. Although my Pay Over Time is Prime + 5.9%, Express Cash has a new interest rate of Prime + 21.99%, which currently is 27.49%. So that's going to be an average of 2.6% interest (assuming you pay in full on the due date) plus the 5% fee for cash access.
POT treats certain AMEX charges like a credit card, so can see why APR would vary; better credit scores and so forth receive lower rates.
Express Cash is now being treated (IMHO) same as a cash advance which is a nothing more now than a loan. Previously AMEX treated the thing as a service with a fee tacked on for their bother. Now they are looking to make money.