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Old 01-24-2008, 12:32 AM   #41
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You may want to contact the Federal Trade Commission, and possibly file a complaint.

Here's a brief excerpt from their website:
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The Division of Financial Practices plays a vital role in this market because much of the financial services industry is under the FTCs jurisdiction. The Division protects consumers from deceptive or unfair practices by financial services companies through law enforcement in both federal and administrative courts, education, and policy leadership in the following areas:

* The advertising of financial products or services, including subprime credit cards or stored value cards. Consumers are entitled to accurate and complete information about costs and other key terms before they enter into financial transactions: it allows them to compare offers and make informed purchasing decisions.
It can't hurt.....and it may help!
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Old 01-24-2008, 10:15 AM   #42
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................and it was a code she didnt have in her book...
Oh my, not the dreaded CFB code!
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Old 01-24-2008, 12:19 PM   #43
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Yeah, I think it was the "This guy stuck us with a $230 unpaid bill back in 1992, so no costco/amex card for him! Not for one year!" code.

Guess I'm just lucky it wasnt the code that triggered the agents deeply hidden training to shoot and kill me.

Youbet - Good move canceling the corporate card on your own. I was a young guy and presumed that the responsibility for the card belonged to the company, not to me.

Plus it was a sudden layoff of the entire branch I worked in, so I didnt have a lot of planning time.

But AMEX showed their true colors: on one hand a company thats doing a lot of corporate card biz, and on the other a schmuck thats had an individual gold card for ten years. Lets stick the little guy with the bill and he'll probably pay it...
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Old 01-24-2008, 01:01 PM   #44
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I don't have a mortgage, car loan, household loan, etc, either. What amazes me is that despite my lack of credit usage, my credit scores (the ones you get for free once a year), are all in the mid 800's. So much for the theories on what affects credit scores.
Probably because you pay all your other bills on time; telephone, electric, water, etc.

We have a couple of credit cards but pay them off every month so we don't care what the interest rates are. Many people prefer credit cards over debit because of the differences in consumer protection issues. But to each his own.
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Old 01-24-2008, 01:05 PM   #45
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I just spent my $1000 in gifts cards thanks to amex. Time to cancel the accounts. I only opened them for the free hardwood floor from Home Depot.

Thanks amex!
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Old 01-24-2008, 02:32 PM   #46
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Probably because you pay all your other bills on time; telephone, electric, water, etc.

We have a couple of credit cards but pay them off every month so we don't care what the interest rates are. Many people prefer credit cards over debit because of the differences in consumer protection issues. But to each his own.
True. From my experience, I am better off in those consumer protection issues than some might imagine.

You're right about the bills. For the past 8+ years I have had my regular bills like water, natural gas, electricity, telephone, cell phone, and so on, all automatically debited from my checking account. The payments are never incorrect or late, and no late CC payments, either.
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Old 01-24-2008, 03:36 PM   #47
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This is a good argument to avoid the surfing (the old if you play with snakes you're going to get bitten) but hey the amounts are small $99 & $3,300, you're describing a winning case probably from a legal perspective and definitely from a public relations perspective I'm believing you can pay this off tonight if you want and I'm believing you have plenty of free time so why not make a hobby out of these guys you can save money that would have been spent going out to the movie's etc... and just waste their time on the phone.
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Old 01-24-2008, 04:07 PM   #48
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I would pay it off or transfer the balance to visa or mc and close the AMEX account. Chalk it up to experience.

Thanks for sharing. Now I know I will never open an AMEX account. I was thinking about it... but not now.
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Old 01-24-2008, 04:12 PM   #49
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I would pay it off or transfer the balance to visa or mc and close the AMEX account. Chalk it up to experience.

Thanks for sharing. Now I know I will never open an AMEX account. I was thinking about it... but not now.
If I pay off the balance now (which is what they want me to do) they will win and I will lose.

They already closed my account so I can't ever use it again, but they ended up allowing me to keep making the minimum monthly payments at 0% under the original terms I signed up for.

What they did makes absolutely no business sense.
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Old 01-24-2008, 04:18 PM   #50
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If I pay off the balance now (which is what they want me to do) they will win and I will lose.
Are you sure? Cutting off your business relationship with them entirely would save you immense aggravation. Also they wouldn't be able to make any more money off you by using their slimy tactics.

Now who wins, and who loses, again?

Maybe this is one of those Mars/Venus issues...
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Old 01-24-2008, 04:21 PM   #51
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Next time I get an AMEX credit card application in the mail (which is almost once a week), I am mailing it back to them blank with only the words "I have already been subject to attempted financial rape by AMEX. Go prey on someone else."
Since I can't go back and edit my own post, I thought about this again.

I may do that with the next AMEX application I get, and the one after that too, but next year when I'm done paying off this current AMEX balance transfer, I may try to apply again to see what their response will be. It would be really funny if they would do the same thing give the money to me again.

Since I have no debt and I don't foresee having debt any time in the next few years nor would any bad credit affect my insurance rates in my state, what is the worst that could happen? They could reject my application?
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Old 01-24-2008, 04:31 PM   #52
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Are you sure? Cutting off your business relationship with them entirely would save you immense aggravation. Also they wouldn't be able to make any more money off you by using their slimy tactics.

Now who wins, and who loses, again?

Maybe this is one of those Mars/Venus issues...
The only money they made from me is the $99 for the balance transfer fee. I got $20,000 for a balance transfer, so at 4% in a money market I'm making $600 to $700 after subtracting the fee and averaging my actual monthly balances as I pay down the amount due. So after a little scuffle with them, I still come out ahead.

If they didn't pull their little bait and switch scheme, I may have kept and used the card for a few years since I needed it to buy my stuff at Costco since AMEX is the only CC they accept. They would have made a few more dollar off me with the transaction fee they charge Costco. Oh well, back to using cash again.
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Old 01-24-2008, 04:50 PM   #53
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I pay our card off monthly. Usually have a balance of 1 to 2k. I was late (a couple days) once with my credit card company. Had a fairly large balance at the time (4k). They hit me with a huge charge (interest and penalty) on the entire balance. I do not remember the amount... but it was fairly large.

I called and complained. Told them to take it off or I was going to cancel the card. They took it off. They did not want to lose a good customer. I have a no fee card and never pay any interest... but they collect the fee from the retailers.

I suspect if that happened again they would not take the fees/interest off.
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Old 01-24-2008, 06:30 PM   #54
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You're right about the bills. For the past 8+ years I have had my regular bills like water, natural gas, electricity, telephone, cell phone, and so on, all automatically debited from my checking account. The payments are never incorrect or late, and no late CC payments, either.
We finally got tired of fiddling around with the monthly utility bills, and trying to figure out if any of them will come due while we're on extended vacations. So this afternoon I switched them all over to auto-pay. All except the water/sewer.....I couldn't do that one online so I'll drop the form off with the billing clerk tomorrow while I'm out and about.

I've never been late or missed any payments, and I figured it was time to ensure that it stays that way in the future. Of course now the USPS will be losing all of that $$ we spent on postage stamps, and they'll begin lay-offs.

As for paying the CC bills (2), I know the 'closing date' of each card, and log-on to my account about 11pm on that day and pay it off.....I never have to worry about the 'due date'. Someday I might set them up for auto-pay......but not yet.
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Old 01-24-2008, 07:08 PM   #55
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I notice that some of the credit cards have auto pay, but 2 out of my 3 cards only have pay-on-line. I suspect that they'd hate to lose the chance of you paying late.
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Old 01-24-2008, 07:32 PM   #56
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retire@40: YOU WON BIG TIME.....I was hoping it would work out that way (HIGH 5!)

I gotta add a piece to the credit card vs. no credit card debate with regard to the Shell Mastercard and PenFed 5% gas rebate type cards. 5% monthly rebate on gasoline purchases credited every month. That's 14-18 cents per gallon in my area. I average $20 worth of FREE GAS every month. Pay it off monthly and no interest is billed. Free gas....feels good just thinking about it!
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Old 01-24-2008, 09:53 PM   #57
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No problems (knock on wood) with my Costco AMEX. Don't even know what the rate is; always pay full balance.

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