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Interest Rates Continue to Rise: American Express Increases APRs on Card Products
This is not the first rate hike this year on popular cards like The Platinum Card® from American Express -- and it won't be the last.
Jaclyn DeJohn
Jaclyn DeJohnFormer Editor
Jaclyn was a CNET Money editor with a fondness for the sweet spot between numbers and words. Overseeing CNET's credit card coverage, she wrote and edited news, reviews and advice. She has experience covering business, personal finance and economics, and previously managed contracts and investments as a real estate agent. Her tech interests include Tesla, SpaceX, The Boring Company and Neuralink.
ExpertiseCredit cards, banking, home equity, mortgages
CNET editors independently choose every product and service we cover. Though we can't review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.
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How we make money
We are an independent publisher. Our advertisers do not direct our editorial content. Any opinions, analyses, reviews, or recommendations expressed in editorial content are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser.
To support our work, we are paid in different ways for providing advertising services. For example, some advertisers pay us to display ads, others pay us when you click on certain links, and others pay us when you submit your information to request a quote or other offer details. CNET’s compensation is never tied to whether you purchase an insurance product. We don’t charge you for our services. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear.
Our insurance content may include references to or advertisements by our corporate affiliate HomeInsurance.com LLC, a licensed insurance producer (NPN: 8781838). And HomeInsurance.com LLC may receive compensation from third parties if you choose to visit and transact on their website. However, all CNET editorial content is independently researched and developed without regard to our corporate relationship to HomeInsurance.com LLC or its advertiser relationships.
Our content may include summaries of insurance providers, or their products or services. CNET is not an insurance agency or broker. We do not transact in the business of insurance in any manner, and we are not attempting to sell insurance or asking or urging you to apply for a particular kind of insurance from a particular company.
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Our Editorial Mission
In a digital world, information only matters if it's timely, relevant, and credible. We promise to do whatever is necessary to get you the information you need when you need it, to make our opinions fair and useful, and to make sure our facts are accurate.
If a popular product is on store shelves, you can count on CNET for immediate commentary and benchmark analysis as soon as possible. We promise to publish credible information we have as soon as we have it, throughout a product's life cycle, from its first public announcement to any potential recall or emergence of a competing device.
How will we know if we're fulfilling our mission? We constantly monitor our competition, user activity, and journalistic awards. We scour and scrutinize blogs, sites, aggregators, RSS feeds, and any other available resources, and editors at all levels of our organization continuously review our coverage.
But you're the final judge. We ask that you inform us whenever you find an error, spot a gap in our coverage, or have any other suggestions for improvement. Readers are part of the CNET family, and the strength of that relationship is the ultimate test of our success. Find out more here.
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In response to the Fed increasing the federal funds rate by 0.5% last week, credit card issuers continue to raise APRs. American Express updated the APRs on its cards promptly on Thursday.
Interest rates on all financial products -- whether credit cards, loans or mortgages -- continue to rise as the Fed tightens monetary policy to counter rampant inflation. The Fed intends to incrementally raise the federal funds rate throughout 2022, so this likely won't be the last round of APR increases this year.
Here are some of the recent updates on purchase APRs -- each range upped by 0.5% -- for some of the most popular American Express consumer cards. New transactions will be subject to your updated rate.
Card
New purchase APR
The Platinum Card® from American Express
16.74% - 23.74% variable
American Express® Gold Card
16.74% - 23.74% variable
Blue Cash Everyday® Card from American Express
14.74% - 24.74% variable
Blue Cash Preferred® Card from American Express
14.74% - 24.74% variable
Delta SkyMiles® Reserve American Express Card
16.49% - 25.49% variable
Delta SkyMiles® Platinum American Express Card
16.49% - 25.49% variable
Delta SkyMiles® Gold American Express Card
16.49% - 25.49% variable
Delta SkyMiles® Blue American Express Card
16.49% - 25.49% variable
To avoid interest charges entirely, make sure you pay your credit card balance in full and on time every month. Such behavior can also help improve your credit score.
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