American Express
Special Check Misleading

American Express promotes All Purpose Cheques - "An Offer with a Special Low 1.99% Interest Rate for up to 6 Months".

Don't be fooled by this illusion. It charges you much more than you can image. For example, if you write such a check of $1, 000 and plan to return it after the so called 6-sweet-months, your cost for this $1, 000 will be:

$19.9 $10 $30*6 = $209.9, an annual interest rate as high as over 40%!

Now you could see what does their 1.99% mean!