• Report: #872219

Complaint Review: American Express

  • Submitted: Sun, April 22, 2012
  • Updated: Sun, April 22, 2012

  • Reported By: Mark — SF Bay area California United States of America
American Express
El Paso, Texas United States of America

American Express Allowed me to exceed credit line without my authorization and then raised interest rate 190% for going over limit.250% El Paso, Texas

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

American Express permitted me, without my authorization, to exceed my credit limit.   Then it raised my interest rate from 14.24% to the default rate of 27.24% because I remained over limit for two months as a result of making the minimum payments the billing statements required.   As I understand the Credit Card Reform Act of 2009, they need prior authorization from the card holder to permit the card holder to go over limit in the first place.   Unfortunately, I am sole proprietor of a very small business and had a business card. Business cards apparently are exempt from the Credit Card Reform Act. I didn't notice the increase for a few months (mea culpa for not paying closer attention), but closed the account as soon as I discovered the new rate and AmEx said there was nothing it could do.   To add insult to injury, I then paid the balance off in full, but AmEx has just billed me for interest calculated on that balance, even though its billing statement says you can avoid interest charges by paying in full before the end of the billing cycle, which I did. 

This report was posted on Ripoff Report on 04/22/2012 05:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/American-Express/El-Paso-Texas-/American-Express-Allowed-me-to-exceed-credit-line-without-my-authorization-and-then-raise-872219. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on American Express

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?