AMEX has a new card, “Clear,” boasting “no fees of any kind.”

But Mouseprint found some in the terms and conditions: “Transactions made in foreign currencies are subject to a conversion rate. Foreign currency conversion rate is base rate plus 2%, as described in the Cardmember Agreement.” [AMEX website, April 13, 2006]”

As Edgar notes, otherwise there are no fees. But a fee is a fee. “Absolutely no fees except for one that probably doesn’t matter too much” probably didn’t sound like such a fetching headline, wethinks.

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