American Express Punishes Its Customers
Usury Interest Rates for Reliable Customers - Complaint
NEW YORK, NEW YORK -- Simply story:
1.) 36 year customer with excellent credit
2.) $2million in charges over the years
3.) late 3 times for no more than two days in ten years
4.) Recent two day late payment earns me a penalty interest rate of 27.99% (up from 11.99%)
5.) Customer service in India says there's nothing that be done to override the "system"
6.) I threaten to payoff and close my account
7.) They respond sorry to hear that, is there anything else I can help you with?
I am canceling my three accounts and will never have anything to with AMEX or their partner companies (such as Costco).
They used to have the best customer service in the business and I was proud to be a member -- times have changed and having read other horror stories, they are shedding customers like hair on a golden retriever.