$17.5 Million Settlement: Visa, Mastercard and Discover cardholders may be eligible

American Express has agreed to pay $17.5 million to resolve a class action lawsuit alleging that its trade agreements discouraged retailers from steering customers toward lower-fee payment cards — which plaintiffs say kept prices artificially high for non-Amex cardholders.

The case concerns what the payments industry calls “anti-steering rules.” Under these rules, merchants who accepted American Express were contractually prohibited from encouraging customers to pay with another card. The plaintiffs alleged that by preventing this steering, American Express protected its higher interchange fees at the expense of consumers paying with Visa, Mastercard and Discover cards.

Who actually gets a payment

Please read this carefully because the settlement class is broad, but the group eligible for a cash payment is narrow.

Here’s the full breakdown of who’s in the settlement class:

If you fall into one of these classes, you are part of the settlement. This means that you cannot file a separate lawsuit against American Express regarding these claims. If you belong to the non-rewards credit card group in Illinois, you have the additional option of filing a claim for cash.

Important dates to know

How to make a claim

If you fall into Illinois’ non-rewards credit card class, you can file a claim at AmexAntitrust.com. Claims can be submitted online or by post, postmarked no later than May 19, 2026.

The payment amount per eligible Illinois claimant will be calculated after the claim period has expired and attorney fees have been deducted. Attorneys are seeking up to 33% of the $17.5 million settlement fund, plus up to $8 million in expenses.

If you have any questions, the settlement manager can be reached via 1-877-315-0587.

What the case was actually about

American Express traditionally required merchants who accepted its cards to sign agreements banning “sending,” pushing customers toward cheaper payment methods at checkout. The legal theory underlying this lawsuit is that these anti-steering provisions suppressed competition among payment networks.

The U.S. Supreme Court answered a related question in Ohio vs. American Express Co. (2018), which ruled in favor of Amex in that case. This class action, filed in state and federal courts, alleged a different set of claims under state consumer protection and antitrust laws in specific jurisdictions.

American Express has admitted no wrongdoing as part of this settlement.

What to do now

• If you used a Visa, Mastercard or Discover card with no rewards and no annual fee in Illinois between January 29, 2015 and June 1, 2022 — visit AmexAntitrust.com and submit a claim before May 19, 2026
• If you are a debit card user in one of the nine eligible states — you are part of the settlement class. View the settlement notice. You can appeal before April 29, 2026 if you believe the settlement is unfair
• If none of these apply to you — this settlement will not affect you

Details of the settlement and court documents are available at AmexAntitrust.com. (Source: PR Newswire, Berman Tobacco)

Frequently asked questions

Who can actually receive benefits from this settlement?

Illinois non-rewards credit card class members only: People who used a no-rewards, no-annual-fee Visa, Mastercard, or Discover card to make purchases at eligible merchants in Illinois between January 29, 2015 and June 1, 2022. All other class members are bound by the settlement but receive no money.

Why does a lawsuit against American Express involve Visa, Mastercard and Discover cardholders?

The lawsuit alleged that American Express’ anti-steering merchant rules prevented merchants from encouraging customers to pay with lower-rate cards. The theory is that this stifled price competition and hurt Visa, Mastercard and Discover cardholders, who could not benefit from lower prices that guidance would have made possible.

What should I do if I used a rewards credit card?

Rewards credit cards and annual fee cards are excluded from the non-rewards credit card class. The settlement class is limited to general purpose cards without rewards programs or annual fees.

I am a debit card holder in one of the nine eligible states. What does this mean for me?

You are a member of the settlement class, which means you cannot file a separate lawsuit against American Express over these claims. You can view the settlement notice at AmexAntitrust.com and file an appeal by April 29, 2026 if you believe the terms are unfair. You will not receive any payment.

How much will members of the Illinois credit card class actually receive?

The payment per person is not fixed; this depends on the number of valid claims submitted. Attorney fees up to 33% of the $17.5 million fund, plus up to $8 million in expenses, will be deducted first. The remainder will be divided equally among eligible Illinois claimants who submit valid claims.

Consumer debt expert and investigative writer. Survivor of Personal Bankruptcy (1990). Award-winning author of the Washington Post. Exposing debt fraud since 1994.