Parex Banka Launch the First American Express Cards in Latvia

The new American Express Cards offer 24x7 customer service in Latvia and around the world, benefits unique to the Latvian marketplace, including purchase protection, protection against fraud and access to specially negotiated savings and offers in Latvia and abroad. The cards will be available at the beginning of May. The partnership with American Express results in Parex Banka becoming the exclusive issuer of American Express Credit Cards in Latvia. Parex Banka will also be the only bank that will acquire merchants in Latvia to accept the American Express Card at their establishments. American Express Credit Cards Offer Unique Benefits and Services Both the American Express Platinum Credit Card and the American Express Gold Credit Card have been designed to meet the needs of Latvian consumers who aspire to succeed and who expect a higher level of benefits and services their financial services providers. The cards provide access to revolving credit and are the ultimate travel companion, offering offer security at home and abroad and access to premium experiences. Both products offer Cardmembers a rich package of benefits and services, including 24x7 customer service both in Latvia and around the world, access to the worldwide network of 1,700 American Express Travel Service Offices where Cardmembers can seek assistance. In addition, they provide access to promotions and discounts specially negotiated in Latvia and all over the world. American Express Gold Credit Card The American Express Gold Credit Card gives its members financial freedom, feeling of security and excellent service, and provides special privileges when traveling around the world. Additional benefits and services include: - Payment Flexibility – Provides a high credit line and offers up to 45 days interest free credit. The customer can choose whether to pay the whole amount in full or pay a minimum of at least 5% of the sum of the credit spent every month. - Fee Free for the first year. For subsequent years, the annual service fee is 45 Lats. Purchases in Latvia and abroad are free of charge. - Purchase Protection - cover for damaged or stolen goods over 30 EUR in value with a maximum 1000 Euro per item and 20, 000 Euro per year. - Fraud Protection - limited customer liability if card used for fraudulent purposes. - Travel Accident Insurance – coverage for serious injury or death while traveling up 200 000 Euro. - Travel Inconvenience – cover for flight delay/missed connections and delayed baggage up to 250 EUR and lost baggage up to 1000 EUR - Global Assistance – pre-trip advice available and emergency legal and medical help if required while travelling abroad from the 1,700 American Express travel offices located world wide. American Express Platinum Credit Card The American Express Platinum Credit Card is the most exclusive credit card in Latvia offering the richest package of services and benefits to an elite group of customers. It will be available only on invitation from Parex Bank to select customers. This exclusive product provides Cardmembers with exclusive access to dedicated travel representatives who can make travel arrangements and provide access to specially negotiated offers on travel and holiday promotions. In addition, the Platinum Credit Card also offers access to airport VIP lounges worldwide. Other benefits include: - Payment Flexibility -- Provides a minimum credit line of 10, 000 Lats and offers up to 45 days interest free credit. - The annual service fee is 250 Lats, but purchases in Latvia and abroad are free of charge - Purchase Protection - cover for damaged or stolen goods over 30 Euro in value with a maximum of 1500 Eruo per item and 40 000 Euro per year