Visa, Mastercard & Discover Amex Antitrust Settlement 2026: Payouts, Status, Eligibility

American Express agreed to a $17.5 million settlement in Moskowitz v. American Express Co. over anti-steering rules that allegedly kept prices higher for non-Amex cardholders. Only Illinois residents who used a no-rewards, no-annual-fee Visa, Mastercard, or Discover credit card at qualifying retailers between January 29, 2016 and June 1, 2022 can receive a cash payment. The claim deadline is May 19, 2026. File at AmexAntitrust.com.

Important: Who This Settlement Actually Pays

This settlement is frequently described as a “Visa, Mastercard & Discover settlement,” but that framing is misleading. American Express is the defendant. Visa, Mastercard, and Discover cardholders are the ones who were harmed — and who can collect. Only people in the Illinois non-rewards credit card class receive a cash payment. Debit cardholders in nine states and non-rewards credit cardholders in Washington D.C. and Kansas are class members but receive no money

Key Dates at a Glance

Settlement Status: Claims Are Open Right Now

A settlement has been reached in Moskowitz v. American Express Co., also known as Oliver v. Amex, in the U.S. District Court for the Eastern District of New York. The case went to trial, the jury returned a verdict, and the settlement happened after the verdict.

The settlement has received preliminary court approval, and the final approval hearing is scheduled for June 17, 2026 at 11:00 a.m. Claim forms are currently being accepted through the official settlement website at AmexAntitrust.com, administered by A.B. Data Ltd.

This settlement is especially time-sensitive for Illinois cardholders right now because the May 19, 2026 claim deadline is approaching and many eligible consumers do not realize the case involves their everyday Visa, Mastercard, or Discover cards — not an Amex card they may never have held.

Case Details

What the Lawsuit Alleged

The lawsuit claims that Amex had rules or provisions in its merchant agreements that did not allow merchants who accepted American Express cards to “steer” or encourage customers to pay with a different card that might charge the merchant a lower fee. American Express typically charges merchants higher fees than Visa, Mastercard, or Discover. By contractually blocking merchants from steering customers toward those lower-cost cards, plaintiffs argued that Amex forced merchants to raise prices for everyone — including people who never used an Amex card.

In August 2025, a jury found Amex violated Illinois law, and only the Illinois nonrewards credit card class suffered damages. Out of 12 certified classes, only one — the Illinois non-rewards credit card class — prevailed at trial. American Express denies wrongdoing but agreed to settle before the court entered the final verdict judgment.

Settlement Fund Breakdown

Total settlement fund: $17,500,000

Attorneys are seeking up to 33% of the $17.5 million settlement fund, plus up to $8 million in expense reimbursement.

Wait — that math requires explanation. The $8 million in expense reimbursement is separate from and in addition to the 33% attorney fee request. Here is what that means for the distribution fund:

The amount of $17.5 million is going to be distributed among all the claimants after deducting attorney fees and administration costs, which are likely to be around $8 million. This means the realistic net distribution pool available for pro-rata payments is estimated at approximately $8–$9.5 million, depending on what the court approves.

The exact net amount will be confirmed at the June 17, 2026 final approval hearing. Every dollar not taken by fees and costs goes into the pro-rata cash pool divided equally among all valid claims.

Payment Calculation Examples

Important disclosure: Cash payments are strictly pro-rata — meaning each eligible claimant gets an equal share of whatever net fund remains after deductions. There are no tiers based on how many times you used your card or how much you spent. The only factors determining your payment are (1) whether you are eligible and (2) how many total valid claims are filed.

The following examples use an estimated net fund of approximately $8,500,000, based on publicly available information. Actual figures depend on court approval of fees and total claims filed.

High Scenario — Low Claims Participation

• Eligible: Yes (Illinois resident, qualifying card, qualifying purchase at listed retailer, no Amex card during class period)
• Estimated valid claims filed: 50,000
• Net fund available: ~$8,500,000
• Estimated payment: ~$170 per claimant

If, after all deductions, $8,000,000 remains and class members file 50,000 valid claims, each claimant would receive $160. The actual figure tracks closely with this example if participation stays low.

Mid Scenario — Moderate Claims Participation

• Eligible: Yes (same qualifying criteria)
• Estimated valid claims filed: 100,000
• Net fund available: ~$8,500,000
• Estimated payment: ~$85 per claimant

If, after all deductions, $8,000,000 remains and class members file 100,000 valid claims, each claimant would receive $80. This is the scenario most likely if news coverage of the settlement drives meaningful but not overwhelming participation.

Low Scenario — High Claims Participation

• Eligible: Yes (same qualifying criteria)
• Estimated valid claims filed: 300,000
• Net fund available: ~$8,500,000
• Estimated payment: ~$28 per claimant

If the settlement receives widespread media coverage and a large portion of Illinois cardholders file, participation could push individual payments into the $20–$35 range. Even at this lower per-person figure, the payment requires no documentation and no purchase receipts — just a valid claim form.

Who Is Eligible

Cash payments go only to the Illinois non-rewards credit card class.

You are included in the non-rewards credit card class if you are a person who is a cardholder with a Visa, Mastercard, or Discover general purpose credit or charge card account that does not offer credit card rewards or charge an annual fee, and you (or an authorized user) used this card to purchase a good or service from a qualifying merchant in Illinois, with your billing address and the purchase both in Illinois, between January 29, 2016 and June 1, 2022.

The settlement includes 38 qualifying merchants and the retail stores and brands they may operate under. This includes Walmart and Sam’s Club, Target, CVS, Walgreens, Home Depot, Best Buy, Kroger, Albertsons, and others listed in the official settlement notice.

You must also confirm: You did not have an American Express card at any time during the class period (January 29, 2016 – June 1, 2022).

You are a class member but receive NO cash if you:

Are a Visa or Mastercard debit card holder who used that card at a qualifying merchant in Alabama, Washington D.C., Illinois, Kansas, Maine, Mississippi, North Carolina, Oregon, or Utah during the class period. You are bound by the settlement but will receive no cash payment.

You are NOT a class member if you:

• Used a rewards credit card or a card with an annual fee
• Had a billing address outside Illinois during the credit card class period
• Held an American Express card at any point between 2016 and 2022
• Are a business entity rather than an individual consumer

How to File Your Claim

Step 1: Go to AmexAntitrust.com — the only official settlement website. Do not use any third-party claim filing service for this case.

Step 2: Click “File a Claim.” You will need to confirm your Illinois billing address during the class period and your card type (Visa, Mastercard, or Discover, no rewards, no annual fee).

Step 3: Confirm that you made at least one qualifying in-person purchase at a listed retailer in Illinois during the class period using your qualifying card.

Step 4: Confirm that you did not hold an American Express card at any time during the class period.

Step 5: Submit your claim online before May 19, 2026. If filing by mail, mail your completed paper claim form to: Amex Antitrust, c/o A.B. Data Ltd., P.O. Box 173092, Milwaukee, WI 53217 — postmarked by May 19, 2026.

No receipts, bank statements, or transaction documentation are required. The claim form is self-certified.

Frequently Asked Questions

Who is the defendant in this settlement — Visa, Mastercard, or American Express? American Express is the defendant. Visa, Mastercard, and Discover cardholders are the eligible claimants. The settlement resolves claims that Amex’s anti-steering rules harmed people who paid with competing cards.

How much will I get from this settlement? It depends entirely on how many valid claims are filed. Based on an estimated net fund of approximately $8.5 million, payments could range from roughly $28 (if 300,000 claims are filed) to $170 (if only 50,000 are filed). Each eligible claimant receives an equal pro-rata share.

Do I need to live in Illinois to file a claim? You need to have had an Illinois billing address during the class period and made qualifying purchases in Illinois. If you have since moved, you may still qualify based on your address at the time.

What cards qualify for a cash payment? Only non-rewards credit cards with no annual fee issued on the Visa, Mastercard, or Discover networks. Rewards cards, annual-fee cards, and debit cards do not qualify for a cash payment.

Can I file if I used my card at Walmart or Target in Illinois? Yes — the settlement includes 38 qualifying merchants including Walmart, Sam’s Club, Target, CVS, Walgreens, Home Depot, Best Buy, Kroger, and Albertsons, among others. Check the official settlement notice for the complete list.

What if I had an Amex card at some point during 2016–2022? If you held an American Express card at any time during the class period, you do not qualify for the Illinois credit card class cash payment.

What happens to debit cardholders in the nine listed states? They are class members and are bound by the settlement, but they receive no money. Their inclusion in the settlement means they also cannot sue Amex independently over these claims.

When will I receive my payment? Payments will be issued after the June 17, 2026 final approval hearing and after A.B. Data completes claim processing. Expect several months after final approval, potentially in late 2026.

Did American Express admit wrongdoing? Amex denies that it did anything wrong. The settlement resolves the case following the August 2025 jury verdict without any admission of liability.

Is there any risk to filing a claim? No. Filing a valid claim costs you nothing and requires no proof of purchase. If the court does not grant final approval, no payments are made and you remain free to pursue other legal options.

Mandatory Disclaimer

This article is for informational purposes only and does not constitute legal or tax advice. Settlement terms, eligibility, and payment amounts are subject to court approval and may change. For official information, always refer to the settlement administrator at AmexAntitrust.com or mail inquiries to A.B. Data Ltd., P.O. Box 173092, Milwaukee, WI 53217.

Payout estimates in this article are illustrative calculations based on an assumed net fund and assumed claims participation rates. Actual per-person payments will be determined after the claim period closes and court-approved deductions are finalized. Do not rely on these estimates to make legal or financial decisions.

AllAboutLawyer.com is not affiliated with American Express, A.B. Data Ltd., class counsel, or the U.S. District Court for the Eastern District of New York. Do not submit personal information to this website to file a claim.

Last Updated: February 21, 2026

Sources: Official settlement website AmexAntitrust.com (A.B. Data Ltd.); ClaimDepot.com (February 19, 2026); GetOutOfDebt.org (February 19, 2026); NCBLPC.org (February 20, 2026); Case No. 19-CV-566, U.S. District Court, Eastern District of New York.

About the Author

Sarah Klein, JD, is a licensed attorney and legal content strategist with over 12 years of experience across civil, criminal, family, and regulatory law. At All About Lawyer, she covers a wide range of legal topics — from high-profile lawsuits and courtroom stories to state traffic laws and everyday legal questions — all with a focus on accuracy, clarity, and public understanding.
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