#1 Consumer Comment
AUTHOR: Chuck Finley - (United States of America)
SUBMITTED: Saturday, December 12, 2009
POSTED: Saturday, December 12, 2009
All companies mail out a letter 45 days in advance, it is the post office responsibility to get you that information. If your going to be upset at someone be mad at the mail service.
#2 Update By Author
AUTHOR: grrrrrr - Bloomingdale (United States of America)
SUBMITTED: Saturday, December 12, 2009
POSTED: Saturday, December 12, 2009
My credit report is great and score above 700... Slavery was legal once too, and that doesn't make it right or fair
#3 Consumer Comment
AUTHOR: Chuck Finley - (United States of America)
SUBMITTED: Sunday, December 13, 2009
POSTED: Sunday, December 13, 2009
Then you have a bad payment history with them or you have high balances on this or other cards!
#4 Update By Author
AUTHOR: grrrrrr - Bloomingdale (United States of America)
SUBMITTED: Sunday, December 13, 2009
POSTED: Sunday, December 13, 2009
What I'm saying is because it is legal doesn't make it right... I'm sure you are bright enough to catch that. If we just followed what is legal and didn't question if it was right or fair, we would be in a different place right now.
#5 Consumer Comment
AUTHOR: Chuck Finley - (United States of America)
SUBMITTED: Monday, December 14, 2009
POSTED: Monday, December 14, 2009
It is COMPLETELY legal and they would have told you a reason. Don't be stupid, like I said in another post just like this they don't just have a customer dart board that who the dart lands on they get an increase.
#6 Update By Author
AUTHOR: - (USA)
SUBMITTED: Monday, December 14, 2009
POSTED: Tuesday, December 15, 2009
Nothing has changed on my credit report since I got the American Express card, I have to reason to lie to you I've never even paid a day late to them or any other card I have. Google American Express raising rates and you will see how many people they have done this to without notice, fair reason, or an opt out option at their current rate.
#7 Consumer Comment
AUTHOR: JAFO - Atlanta (USA)
SUBMITTED: Tuesday, December 15, 2009
POSTED: Tuesday, December 15, 2009
It is, unfortunately, a trend in the CC industry right now to rate-jack everyone they can. I have had several cards with credit limit decreases and/or interest rate increases. I have no credit problems at all. The CC companies are trying to get ahead of changes coming next year that Congress has put into law. It has nothing to do with your credit score, payment history, or balances. It is simply them getting ahead of the game. Lots of people with no problems, including myself, are being hit with it. It is, until the new legislation goes into law next year, perfectly legal. Right? Morally and ethically no. From a business standpoint, yes. As long as you don't carry balances, you'll be fine.
#8 Update By Author
AUTHOR: - (USA)
SUBMITTED: Tuesday, December 15, 2009
POSTED: Tuesday, December 15, 2009
By the way, I just called them and they said it was not my credit in any way, it was happening across the board "because of the economy" So my tax money bailed them out and now they rob me of more money... If that's not a rip off, what is?
#9 Consumer Comment
AUTHOR: Chuck Finley - (United States of America)
SUBMITTED: Tuesday, December 15, 2009
POSTED: Tuesday, December 15, 2009
You totally got me! They didn't increase your APR because of something on your credit report but because they either don't care if you close your account or they think your dumb enough to let it happen.
By the way when you tell someone that it makes them seem like "an uneducated dim wit" I would first make sure that I am spelling dimwit correctly. There is no space.
Did you really say that I was a dimwit for calling you names but in that response call me a name? What does that say for you?
I hope you enjoy your FANCY NEW interest rate!
#10 Consumer Comment
AUTHOR: Flynrider - Phoeix (U.S.A.)
SUBMITTED: Wednesday, December 16, 2009
POSTED: Wednesday, December 16, 2009
"By the way, I just called them and they said it was not my credit in any way, it was happening across the board "because of the economy" So my tax money bailed them out and now they rob me of more money... If that's not a rip off, what is?"
Let's see, since it was YOUR tax money that bailed them out, they had to figure out a way to pay YOU, the taxpayer, back. The tab also included about 70 million in interest and dividends above the amount that YOU lent them.
As Amex is in the credit card business, it would seem that the logical way to repay YOU the taxpayer is to increase the interest rates on their cardholders. Oh wait, that would be YOU too, wouldn't it?
Pardon the sarcasm, but I find it amusing that people are indignant that their money was used to bail out a financial institution and that the institution is now charging their customers more money. Where did they think the money was going to come from?
#11 Consumer Comment
AUTHOR: Chuck Finley - (United States of America)
SUBMITTED: Thursday, December 17, 2009
POSTED: Friday, December 18, 2009
Anita -
#12 Update By Author
AUTHOR: - (USA)
SUBMITTED: Friday, December 18, 2009
POSTED: Friday, December 18, 2009
Your right Chuck what they did was legal but unfair.. I will from now on let the laws rule my life and never question the fairness of them... I am robot...
#13 Consumer Comment
AUTHOR: Chuck Finley - (United States of America)
SUBMITTED: Friday, December 18, 2009
POSTED: Saturday, December 19, 2009
You really enjoy those extremes don't you, first slavery and now your going to jump off a bridge. Tone it down a notch please and thank you.
#14 Consumer Comment
AUTHOR: B Miller - Tucson (United States of America)
SUBMITTED: Saturday, December 26, 2009
POSTED: Saturday, December 26, 2009
American express did send notices in August stating that the changes would go through in november. The opt out rule applies to default rates, if you miss a payment or two and your account is about to go to a penalty rate that's usually around 29% or so, you can opt to cancel your card with the credit card company and pay off your remaining balance at the original rate you agreed to. You may not agree to their reasons but they did indicate it was due to cost of business, economy etc.... All the card companies sent out similar letters. Hell my GE card charges me a finance charge just for having the card now. A minimum of $1.50 a month. The Amex card still does not charge any interest if you pay your bill off in full each month.
#15 Consumer Comment
AUTHOR: B Miller - Tucson (United States of America)
SUBMITTED: Saturday, December 26, 2009
POSTED: Saturday, December 26, 2009
American express did send notices in August stating that the changes would go through in november. The opt out rule applies to default rates, if you miss a payment or two and your account is about to go to a penalty rate that's usually around 29% or so. This will prompt the letter that's sent out 45 days prior to the penalty APR change and this letter gives you an opt out option if you'd like, you can opt to cancel your card with the credit card company and pay off your remaining balance at the original rate you agreed to. You may not agree to their reasons but they did indicate it was due to cost of business, economy etc.... All the card companies sent out similar letters. Hell my GE card charges me a finance charge just for having the card now. A minimum of $1.50 a month. The Amex card still does not charge any interest if you pay your bill off in full each month.
#16 Consumer Comment
AUTHOR: B Miller - Tucson (United States of America)
SUBMITTED: Saturday, December 26, 2009
POSTED: Saturday, December 26, 2009
American Express did not receive a bail out, they did not need it. In fact they started their own bank at the time everyone was getting bail outs. Yes they admitted that everyone across the board was getting an increase, because as per the terms and conditions of the agreement, they reserve the right to increase the interest rate. They sent out form letters in August and again in October informing everyone of the changes. And don't give us this crap about it's legal but it's no right. Business isn't fair, changes have to be made in order to remain a viable company from time to time, you always have the option of not continuing business with them. I don't expect them to help me out if my cash flow is gone, our relationship is business related. I get what I want when I don't have the money to pay for it, and the card allows me to get it right then. If I'm able to pay the whole thing off by the due date I get no interest rate. If I have to revolve a balance, I am assessed the finance charge for the privilage of getting something I had no money for at the time of the transaction. If I can't pay them the minimum of $15, why should they be obligated to let me skate? That's certainly not in the contract. What is in the contract is an explination of what will happen and that they can increase or decrease interest rates.
