- Report: #462790
Complaint Review: American Express - New York New York
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American Express
200 Vesey Street New York, 10285 New York, U.S.A.
Phone:
212-640-2000
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American Express American Express default rates over 27%! Took over $3 Billion in TARP and charging American Taxpayers 27%! New York New York
I have been an AMEX customer since 97 and I have never been late on a payment past 30 days. I have been late maybe a week or so as the payment slipped my mind but I never would intend to skip out on my obligation. I accept and pay a late fee of $39. I have carried balances on average of about $10k.
My card had a $20,000 limit last year and I had about $10k on the card and they lowered my limit to my balance! I had some charges go through and now I was in an over balance situation! My credit score drop dramatically because now I look maxed out. I got fees for over balance too!
Because of the few late payments of a week or so old they jacked my rate to 27.22%! I was originally a 9.9%. This default rate is such a scam and charging 27.22% is criminal.
Is there a way to stick it back to AMEX! Any lawyers out there who can make this happen you should have one hell of a class action case! I will be the 1st person on the list and I will testify too!
It is reprehensible that the government allows American Express to basically turn good paying American Citizens into indentured servants by allowing rates that would never allow anyone the opportunity to pay off their balance with minimum payments.
Plus it has been reported that American Express was allowed to change their business structure to a bank holding company so they could be eligible to receive over $3 Billion in federal bailout money! How can they take money from American Taxpayers and then rape them with 27.22% interest.
We should start a boycott campaign and have all current members that are being charged this interest rate contact their congressman about this travesty on the American consumer put in the spotlight!
I am going to do whatever it takes to get the media to shine a light on this and hope all boycott this greedy and corrupt organization!
Anyone else care to join? Any lawyers want to do something about this?
Let's expose these people now!
Bill
Foothill Ranch, California
U.S.A.
My card had a $20,000 limit last year and I had about $10k on the card and they lowered my limit to my balance! I had some charges go through and now I was in an over balance situation! My credit score drop dramatically because now I look maxed out. I got fees for over balance too!
Because of the few late payments of a week or so old they jacked my rate to 27.22%! I was originally a 9.9%. This default rate is such a scam and charging 27.22% is criminal.
Is there a way to stick it back to AMEX! Any lawyers out there who can make this happen you should have one hell of a class action case! I will be the 1st person on the list and I will testify too!
It is reprehensible that the government allows American Express to basically turn good paying American Citizens into indentured servants by allowing rates that would never allow anyone the opportunity to pay off their balance with minimum payments.
Plus it has been reported that American Express was allowed to change their business structure to a bank holding company so they could be eligible to receive over $3 Billion in federal bailout money! How can they take money from American Taxpayers and then rape them with 27.22% interest.
We should start a boycott campaign and have all current members that are being charged this interest rate contact their congressman about this travesty on the American consumer put in the spotlight!
I am going to do whatever it takes to get the media to shine a light on this and hope all boycott this greedy and corrupt organization!
Anyone else care to join? Any lawyers want to do something about this?
Let's expose these people now!
Bill
Foothill Ranch, California
U.S.A.
1 Updates & Rebuttals
Realitysucks
Here,Alabama,
U.S.A.
Serves You Right
#2Consumer Comment
Fri, June 19, 2009
This is no different than what Obama is doing to taxpayers who make to much money in his eyes. Raising taxes on those who make the most to inflate the governments bottom line is just like what AMEX is doing, jacking rates on high risk credit holders is how the credit business works, you have been late multiple times which means youre having financial problems, and you probably never pay your balance down, so why shouldnt they take advantage of the people who need them the most, just like our US government does? Youre taking advantage of them, if you gave someone $10K and they sent you $253 instead, wouldnt you be mad that you had to wait longer to get your money? at $250 a month, its going to take you 40 months to get paid back why shouldnt they charge you more I have 3 Amex cards, with an average monthly bill of $10K, and guess what i pay it in full, because i dont charge something i cant afford to pay for. And guess what i am sure more of my money bailed out AMEX, AIG, GM, etc than yours, so suck it up
