American Express Delta Skymiles

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Interest rate will increase even if I close my account
Posted by on
I received an APR increase notification in the mail a few days ago from AMEX saying that effective with my October statement my interest rate would be increasing. I've dealt with this with other credit card companies and I closed those accounts and kept the interest rate at the lower level. However, when I spoke to the agent at AMEX, she said that my interest rate would still increase and still be assessed against my entire balance even if I close my account. I'm trying to find out what credit card rules apply to this because I thought I had the option to close the account and keep my current interest rate. I don't see how they can force this increase on my balance when we had a binding agreement with my current terms. I'm working on filing complaints to the FTC and The Federal Reserve because I should have the option to close my account. These credit card companies are no better than shady loan sharks.
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Anonymous on 08/15/2009:
If they are raising the rate I thought that they had to give you an opt out option. My understanding is that the only time they did not have to give this opt out option was if they were going from a fixed rate to a variable rate and your percentage was not going to change right away. I checked online and found references that state the Federal Trade Commission and the Attorney General may be able to help. Good luck to you. Let us know what happens.
MaggieMcT on 08/16/2009:
And check your account agreement with Amex, too.
madconsumer on 08/16/2009:
best answer maggie!! it IS in the account agreement.
bcgrad on 08/20/2009:
The opt out option only applies for cc companies sending notices effective today, 8/20/2009. Of course AMEX wasn't stupid and they sent the notice on 8/5/2009 so they could be "grandfathered". When I cancelled my account with those sleazebags the rep seemed surprised as to why I was doing it! They're totally clueless...
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Cancelled Card The Day Going Overseas
Posted by on
I paid my balance to 0.00, was never late, and they cancelled it the day I was going overseas, no call no warning bad company. I will never use this company again, ever. And they expect Delta employees to push their product... [snip]
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Soaring Consumer on 06/08/2009:
AMEX is the embarrassment of the industry, and they have been literally throwing a lot of their customers away by canceling them behind their backs without notice, while their profits continue to fall and they don't know why. Thank goodness that you found out before you left, as many people have been stranded in foreign places because of the same thing that has just happened to you has happened to them, only they never found out until the card was declined and they realized that they were in the middle of nowhere with no money.

It is situations like yours that persuaded me to turn them down. The best thing you can do is to turn your back on them, forever, as any company that treats their good customers like dirt does not deserve your business.

Voted helpful.
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American Express Cancelled My Card But I Got Them To Refund My Membership Fee!
Posted by on
FORT LAUDERDALE, FLORIDA -- I have seen many posts on this site from people with complaints about American Express canceling their card after years of on-time payments. This too happened to me, but I called and complained and they returned my membership fee! It is a small victory after years of loyal service, but at least it is something.

Also, if you have the Delta Skymiles card that comes with a companion ticket make sure they send you the voucher for the free flight, and wait for it to arrive, before you ask to get the refund.
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Anonymous on 04/01/2009:
VERY helpful information! Thanks!
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