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American Express Card / amex hurting consumer credit

1 United States Review updated:

American express used to be a great company. Lately — i've had to report them to the ftc and am about to report them to other banking and credit agencies as well. Why?
For several months, they have been advertising (With multiple fliers in the mail, at least two times monthly) — suggesting I accept an offer (Due my great credit history and scores) to accept terms to 'carry-over monthly balances over $100). After much disregard, I finally accepted, after agreeing to open a secondary account with amex in light of the 'new' fico scoring system this year. (The second card was not mandatory, it was for purposes of 'spreading' out available credit to debt for several types of business charges as required with my profession and privately owned business.)

Low and behold — within 2 months of owning the secondary card — the 'offer' they gave me was rejected with a simple letter stating I was a credit risk because there were too many inquiries on my credit report (Only 3 in 6 months — (2) of which was by american express for the second card, and to see if I still 'qualified' under their creditsecure program, which I also happened to accept at the beginning of the year). Not only that, they had already reduced my 'no preset limit' option internally with a $20k limit that I had to coax a nicer rep into disclosing (They were not supposed to disclose the amount to me. Previously, I was truly not under a set limit.)

Worse yet — when the second payment for the second card came due — I sent payments for both accounts to the same bill payment receivables address in one envelope. There is no stipulation by amex under any circumstances — that we cannot send payments in one envelope. They also state they support green and other environmental programs — so I assumed saving an envelope and stamp would be fine.

The following week, while checking my balances — I noticed the second card bill was 'unpaid' and almost overdue. They were not going to notify me until it was later. I immediately called to find out what happened — as they had already cashed the check for the other account payment (Both were 'overpayments' to cover new charges as well.)

I was informed the check was destroyed because it was in with another check in one envelope. I was told if I did not pay again, immediately — (My responsibility, not theirs, of course) — I would be penalized. So they suggest electronic payment.

I am with a credit union for 'real' banking — so I requested amex notify me if the routing transaction did not go through correctly on the first try.

An entire business week later — I find out amex has suspended all of my cards, and I am about to be penalized for their ineptitudes — because they did not notify me about the payment not going through. They claim it was because they found out after hours on the friday night. However — they have 24/7 customer service. Instead of alerting me, per request — they put a 'stop transaction' motion on all my amex cards. (Even though they still have $50 additional overpayment on the primary card.)

They also erased the fact that they lost the original payment on the second card from my records (Since they claim they don't have proof.)

I worked hard to have an extremely high credit score. Now — amex is about to destroy it because I trusted them.

This complaint will be posted on every possible consumer notice and federal trade notice site I can locate, as I am not willing to be a casualty in the credit scams and fall outs that obviously has affected amex more than they are willing to admit. Amex also reported to the media and the federal and stock boards they were tightening up their structure because customers were having trouble paying last month.
I wonder what the truth is — their faulty mail receiving program and lack of warnings and disclosure regarding such, or their refusal to work with customers in a fair and honorable manner???

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  • Jk
      23rd of Mar, 2009
    0 Votes

    FYI update: As of today--- after speaking with my bank and receiving the information AMEX needed to tell me specifically the manner in which they were attempting to get payment (after destroying my original payment check and refusing to acknowledge the mistake) --- I get another routing number from my bank. AMEX was not planning to tell me this -- (again, I had to perform due diligence and find out by 'accident') --- AMEX has already charged me $38.00 of nonpayment fees as of last week--- after they have done nothing to acknowledge or work with me to get the payment I've been trying to send in since March 8th. Now, AMEX has made $38 "free dollars" from me, and still, they are still not assuring me they will work with me for payment (they will not let me know if the payment has gone through or not--- they will simply charge me, penalize me and blames my bank and me-- NOT their ineptitudes.) My bank has recommended reporting them to the Better Business Bureau, among other agencies at this time.

  • Do
      8th of Apr, 2009
    0 Votes

    BBB is a bunch of paid schmucks that make you look good if you pay them their fee, The aren't what the used to be, Trust me I run a business all the want is $$. You pay them they hide your complaints, If you don't pay them they post all the negative on their site.

  • Ha
      15th of Oct, 2011
    0 Votes

    I live in Saudi Arabia I believe you have nothing compare our bad treatment over charge put cards on hold . Stop international payments connect debt and credit card with one payment . Call relatives for credit card blue card payment payments. Hold or service with no reason even if paid calling 10 times a day. Charge late payments with no late payments. Payment shows in weekday only never in week end. Our payment period 30 days only .
    AMEX company charge upon their payment note whenever shows in their system. If client want to complains they can but never wave late charges. Blue cards (AMEX credit card) very expensive credit interests charge and service most the public do not like it they introduce it as internet card. When client request to cancel, Amex never cancel upon clients request .
    Merchants can charge unauthorized payments Cable Company love AMEX for accepting unauthorized payment. If you want to cancel TV cable service we have to cancel the Credit Card first. I for got they change location from Bahrain to Saudi Arabia they lost my 60 000 points reward system.
    No third party to claim AMEX unfairness behaviour. Saudi Government monetary agencies not consider AMEX with banking system no rules no reviews on consumer bad behaviour this organization in Saudi Arabia.
    They put my cards on hold for not real late payments. AMEX SAUDI CLIENT

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