American Express: Backstabbers

[retire@40]

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?

 

[retire@40]

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.

 

[chinaco]

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.

 

[Goonie]

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.

 

[travelover]

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.

 

[jazz4cash]

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!

 

[HFWR]

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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