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American Express Sucks Message Board
Old 07-07-2004, 09:50 AM   #1
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American Express Sucks Message Board

I'll bet there are some outstanding stories about high fees and commissions here.


***** puts the "hoco" in Hoco-mania
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Re: American Express Sucks Message Board
Old 07-07-2004, 11:44 AM   #2
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Re: American Express Sucks Message Board

Aside from a pair of very ridiculous incidents with Sears and Dish network, my two worst consumer experiences were with American Express credit cards and the American Express brokerage.

I'm sure others had good experiences. Mine were likely exceptions. But even when they made huge and ridiculous errors, they fell down badly in correcting them.

My favorite though, was when I finally left Amex brokerage. I had them transfer my mutual fund holdings (all one family) to the fund family for holding. They transferred ALL of their holdings in that fund family into my account: mine and all the rest of their customers. I forget how much it was, but it was tens of millions of dollars. Of course they took it back. But I still have that statement somewhere, and its fun to look at.

Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: American Express Sucks Message Board
Old 07-10-2004, 06:01 AM   #3
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Re: American Express Sucks Message Board

I had a terrifying experience with American Express. I was in Poland for the first time when someone stole my corporate American Express card. The local office said the card wasn't covered on the get money/new card right away. So there I was. No money, huge hotel bill. They didn't care. Luckily, I was travelling with other people, who lent me money, and one guy put my hotel charges on his card (wonder what Accounting thought of that!).

I will never get another American Express card.

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