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boilerfan
Posts: 19
Registered: ‎02-25-2009
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AMEX and sneaky tricks

[ Edited ]

Here is a link to the Consumerist blog about an experience someone recently had with AMEX cancelling her 20 year+ card membership 2 weeks before she was due a $500 rebate.

 

 

http://consumerist.com/5161723/american-express-cancels-your-card-right-before-you-were-supposed-to-...

Message Edited by boilerfan on 02-27-2009 01:19 PM
Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
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Re: AMEX and sneaky tricks

Not surprising!:smileymad:
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Frequent Contributor
desifink
Posts: 405
Registered: ‎10-20-2007
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Re: AMEX and sneaky tricks

Wow...Amex sinking to all-new lows. Glad I didn't bite on that offer I got in the mail a few weeks ago.
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: AMEX and sneaky tricks


fused wrote:
Not surprising!:smileymad:

And yet, a year ago it would have been shocking. :smileysad:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
Cheezy
Posts: 169
Registered: ‎02-29-2008

Re: AMEX and sneaky tricks

This makes perfect dollar sense.  They NEEDED that $500 for their "we'll pay you to close your account" program!!

 

rat ***tards.

We gave up the fight and filed BK in 2010. :smileysad:
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
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Re: AMEX and sneaky tricks

Sounds like a Blue Cash card that was due its yearly statement credit...

 

Does this mean that technically rewards dollars are not yours?

Here we go again...
Established Contributor
fevmlo
Posts: 640
Registered: ‎03-28-2008
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Re: AMEX and sneaky tricks


FretlessMayhem wrote:

Sounds like a Blue Cash card that was due its yearly statement credit...

 

Does this mean that technically rewards dollars are not yours?


It was a Costco AmEx. I know the t&cs say that basically they can do whatever they like, whenever they like, and that if they close the account, you forfeit any rebate/rewards, but I wonder if there is, or could be, any kind of recourse against this kind of AA? They really should be hauled over the coals for pulling this kind of stunt, where someone's perfectly acceptable as a customer while they're earning AmEx money all year, right up until the point where AmEx has to hold up their end of the bargain and pay out the promised rebate.
I have worried about this with my Blue Cash. I'm racking up a very nice wedge of cashback, and it has occurred to me that my current "unmessed-with-by-AmEx" status might suddenly change immediately before they're supposed to credit me the money back.  

 

EQ: 723 / TU: 760 (August 2009)
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stefanc
Posts: 220
Registered: ‎11-16-2007
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Re: AMEX and sneaky tricks

They closed my Starwood card only hours after my statement cut with the annual fee charged on it.

 

They did the usual AR about a week before closing it - 0 balance on the card (always PIF long before the statement cut). On a friday night the statement cuts with the $45 annual fee due -- by morning the card was closed. 

 

I've spent hours on the phone going around to different depatments and supervisors - they will not refund the $45.

 

I think even First Premeir will refund you annual fee if the account is closed. 

Established Contributor
fevmlo
Posts: 640
Registered: ‎03-28-2008
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Re: AMEX and sneaky tricks


stefanc wrote:

They closed my Starwood card only hours after my statement cut with the annual fee charged on it.

 

They did the usual AR about a week before closing it - 0 balance on the card (always PIF long before the statement cut). On a friday night the statement cuts with the $45 annual fee due -- by morning the card was closed. 

 

I've spent hours on the phone going around to different depatments and supervisors - they will not refund the $45.

 

I think even First Premeir will refund you annual fee if the account is closed. 


THAT is outrageous. I'm sure I've read of plenty of occasions where they've at least had the good grace to refund AFs on cards that have been cancelled, even when they've been cancelled at the cardholder's request rather than AmEx's instigation. How can they charge you a fee for a card you don't actually have, and haven't had for even one day of the year they are charging for?
They are just getting more out of hand by the minute. Cutting credit limits and closing cards is one thing, but actually leaving people out of pocket in the process (closing cards days before the cardholder's due a rebate, when that cardholder has kept up their end of the bargain and given the card a ton of use SPECIFICALLY because of the promise of that rebate, charging annual fees for cards that they then close immediately afterwards) in order to desperately pull whatever they can into their own coffers is beyond disgusting. 

 

EQ: 723 / TU: 760 (August 2009)
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: AMEX and sneaky tricks

Okey-dokey, might be time to go find something I can use those 16,000 rewards points on. :smileytongue:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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