American Express offering cardholders $300 to get lost

Amex's time has come and gone. They are the worst of the worst CREDIT CARD companies. (Yeah, I said it, they are a CREDIT CARD company). I recently cancelled my "plain old" green card because of their antics. They sent me a renewal of a secondary card that I had cancelled over two years before and then charged me $30 for it on my bill. I called them again and cancelled it and was told the full $30 fee would be credited back. Three months and four phone calls later their collection department is calling me saying I am delinquent and I need to pay this $30. I made numerous attempts to straighten this out and in the mean time my $75 fee for the renewal of my card shows up on my bill. At this point there was no way I was going to pay this company another dime so I called and just cancelled my account. Apparently that worked because they finally credited the $30 to my final bill. I will now laugh outloud if I see anyone pull out an AMEX card (especially a Gold or Platinum or other) with an "sense of elevated self-importance" because I will know that they really have an elevated ignorance. So long AMEX, say hello to Merrill Lynch when you get there.

Reply

I saw articles not too long ago about other card companies dumping the so-called good consumer too. Matter of fact, I think I'd better use one of these things pretty quick here; because, I got a call questioning lack of use just a few days ago. Bad situation this economy has put us in, on one hand you are scared to death to use them and they have driven people away with those increased fines and interest, then on the other hand you can't get cable hooked up in some areas if you don't hold a major credit card. It's a Catch-22 no matter how you look at it.

Reply

Screw Amex and the horse they rode in on. As a merchant accepting credit cards I scraped their logo off my front door.
No one even noticed because they all use debit, Discover or MC/Visa. If you use Amex you should truly consider a business visa. FYI- Did you know Amex has their hand out for over 3 billion dollars of taxpayer money from this stimulis package ???
The very company that routinely rapes their customers is now wanting more, more, more..........Write your congressman today.
Stop the pigs from getting fatter on our dollar.

Reply

Amex started going down hill decades ago, when they lost the travelers cheque business.

Reply

AMEX sent us a request for financial information recently; we have been a card holder since 1974; they came back to us and said that we didn't make enough money to have a platinum card... We are at the low end of six figures... So, they canceled our card, which we paid the outstanding balance on... Then they sent me a notice; which they sent to the IRS; which stated that they had written off $174,000., on our account; which, again, we had a zero balance when we paid our account off... It seems to me that they are trying to pursuade the government to give them help; when in fact they are defrauding the government themselves...

Reply

Hahahahaha!!! It figures. Guess I'll be getting rid of them next! It's getting to the point where there will be no more CC's in my house, robber barons they are!

Reply

This is the mentality of America today and maybe well into the past. Overextending your credit is a good thing? Don't pay off your card each month? What fool that has a credit card should allow the credit card company to charge them interest if they're able to pay it off. There is something inherently wrong to get rid of reliable and smart consumers. I don't have an American Express card even though they were always sending me offers to get one. I only use my Citibank Mastercard and I do pay off my small credit balance every month. I just use the card for convenience, and not to buy things I can't afford. I use it a couple of times every month for small purchase items and that's it. I've bought big ticket items like computers and TV on occasion using the internet and it comes in handy for that. But I'm only buying with money that I've already saved for that purchase so I can pay the credit company right away. Goodbye American Express. You don't need me and I don't need you.

Reply

I was in a lot of debt and desperate. Then I found out about paid online surveys. Some were scams, but I found a legit program. Now I make an extra $3000-$3500 per month right from home while watching TV with my kids. It really works! If you're interested, try it at http://cashsurveys.notlong.com

Reply

I wonder if these credit card issuers are also telling the Government, their amending card holders agreements, and in many cases raising card holders APR rates to as high as 28%, and slashing lines of credit in 1/2 at the same time, in order to make up for the lost revenue on card holders that due to job loss, or other financial matters. Are unable to pay their minimum monthly payments. This is not only consumer extortion, but then they ask for billions in tax payer bail out funding as well. Leave it to the banks to figure out how to extort money not only from the consumer, but the Government as well.

Reply

In 30 years I have never ever had a problem with American Express. I have found them to be available, sympathetic and hands on in assisting me in the few problems I have had with vendors. The only time I use an alternative card is when the SmEx is not accepted.

Reply

Amex is just one small step away from being a Government-Approved Loan-Shark.(After all, they DID receive $3 Billion in TARP money last fall). That stunt of reporting (their write-off) to the IRS as taxable income is really indicative of what kind of low-life they became long ago. What goes-around, will eventually come-around. In the meantime, if there's another card in you wallet/purse, use IT!

Reply

I love AMEX ,I don't need any other card, except a debit card, pay my bill every month. always lived by the rule if you don't have the money then don't buy it... Why would any smart person want to pay the high interest rates you get from M/C and Visa, that is what is wrong with our country.I also refuse to shop at a retailer not carrying AMEX>

Reply

(linkback) Smart or Dumb? American Express offering cardholders $300 to get lost [VOTE] - http://www.thriveorfail.com/55f3d

Reply

when the credit card companies started to raise my interest rates and lower my credit limits i opted out of the cards which in turn raised hav oc with my credit rating. as long as they want to play like that i can too. no more payoffs on any of thecards now. its great to be on social security and know they cant touch it so they are now screwed.

Reply

SMC is offering a free e-book on how to successfully start your own home business! There are no obligations and it is really 100% free! If you're interested for more information, go to http://www.smcbusinesskit.com

Reply

FedEx costs merchants more than any other card, often charging 4% and up. One of the biggest scams around.

Reply

AmEx is quite desperate. I recently found another great site that has insider information about the credit card industry, and it has, I think, the best explanation of how to complain about these guys doing this. I used the payoff calculator there too and it ruined my day...

GREAT RESOURCE:

www.NewCreditRules.com

Reply