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Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Divorce and the joint credit card...


haulingthescoreup wrote:

True about AmEx. One of the few exceptions.


Now some banks are doing the same thing.

 

I was consolidating all my credit card agreements the other day and while reading each one I noticed one or two that were similar to AmEx in that an AU was legally liable for their own charges should the primary cardholder welch.  I can't remember now exactly which banks they were, but Chase, Nationwide & USAA stick in my mind.

 

As much as it's easy to slam AmEx, I actually think they are pretty smart in holding AUs liable. 

IAALBNYL
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GregB
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Registered: ‎05-24-2007
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Re: Divorce and the joint credit card...

I'm not very happy with Amex at all, since they are the only company to give me a CLD. They are also the only company to lie to me over and over.

 

I would agree that it is fair of them to charge an AU for their purchases if they can't get paid by the cardholder.

Senior Contributor
O6
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Re: Divorce and the joint credit card...


GregB wrote:

I'm not very happy with Amex at all, since they are the only company to give me a CLD. They are also the only company to lie to me over and over.

 

I would agree that it is fair of them to charge an AU for their purchases if they can't get paid by the cardholder.


 

I don't doubt you at all.  But how have they lied to you?  I'm just wondering if your situation mirrors others that I have heard.

IAALBNYL
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GregB
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Re: Divorce and the joint credit card...


O6 wrote:
I don't doubt you at all.  But how have they lied to you?  I'm just wondering if your situation mirrors others that I have heard.

I don't have the documentation readily available so this is fairly accurate but not perfect.

 

My CR show my personal Amex acct history starts in 1982. I know my business accepted Amex cards by 1980. Amex business card had a CL of $26K in 1997 but I can't recall how old it was at that time. Regardless, I would think that is a "long" history. In 2004 , my personal card had a $28,800 CL and the business card was $82K CL.

 

In 2005, I received a notice from Amex that they were reducing the CL on the business CC to $41K due to "recent late payments and a negative item on my TU credit report".

I researched it an my wife had made several late payments that resulted in late charges 4 years earlier. Two of these were to Amex in 2001. One payment to MBNA was paid 32 days late and I finally found MBNA reporting a 2001 payment as 30-day late on my EX report. NOT recent and NOT on TU. Did they make it up or did they mean EX? Could they wait 4 years and then call a negative recent? Those seem like "small" lies to me.

 

By this time I was monitoring my credit through EX and puchasing reports from all 3 CRAs on a regular basis. I received another letter from Amex lowering the CL from $41K to $35K stating "recent late payments" (plural as in more than one). I pulled all 3 CRA reports and there was only the one from MBNA, now around 5 years old. I now received a letter regarding my personal Amex chopping its limit in half or so with the stated reason of "recent late payments".

 

I started to get concerned with my reports and paid for another round of all 3. No new negative.

 

Amex told me they would return my CL if I could prove that there was no recent derogatory info on my reports. I sent them all 3. They sent me a letter that they needed an EX report. I had sent them EX, TU, EQ. I now removed TU and EQ from my copy of the document and sent them EX only. They sent me a lette saying they needed EX with a FICO score. I paid for EX with a FICO from myfico.com and sent it to them. No response. I called and they said I could fax it instead of sending another FedEx. I sent it and got no response. After numerous calls I finally spoke with a CSR who told me to send it again. She told me the report had to done "today" and faxed by "tomorrow". I paid for another report and faxed it. No response. I gave up! These seem like bigger lies to me.

 

The Amex Business Acct had checks that could be used for a payment where the vendor doesn't accept CC. I had probably used a dozen over the last 5 years. I now had one returned damaging my reletionship with a vendor. Amex told me I hadn't activated the checks. They had been activated long ago and this wasn't the first check in that checkbook. They paid the check the second time through after I called and complained. A few months later a new book of checks arrived. I called and activated them since I expected the first one to be used for the IRS in a month or so. I called them again right before I mailed my taxes to be sure they were activated. The CSR assured me that they were. I am sure I don't have to tell you how that worked out. The IRS won't run a bad check through a second time and since I mailed my taxes close to April 15, I now had late fees. Seems like more lies to me.

 

 

 

 

 

 

 

 

 

 

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Divorce and the joint credit card...


GregB wrote:

O6 wrote:
I don't doubt you at all.  But how have they lied to you?  I'm just wondering if your situation mirrors others that I have heard.

I don't have the documentation readily available so this is fairly accurate but not perfect.

 

My CR show my personal Amex acct history starts in 1982. I know my business accepted Amex cards by 1980. Amex business card had a CL of $26K in 1997 but I can't recall how old it was at that time. Regardless, I would think that is a "long" history. In 2004 , my personal card had a $28,800 CL and the business card was $82K CL.

 

In 2005, I received a notice from Amex that they were reducing the CL on the business CC to $41K due to "recent late payments and a negative item on my TU credit report".

I researched it an my wife had made several late payments that resulted in late charges 4 years earlier. Two of these were to Amex in 2001. One payment to MBNA was paid 32 days late and I finally found MBNA reporting a 2001 payment as 30-day late on my EX report. NOT recent and NOT on TU. Did they make it up or did they mean EX? Could they wait 4 years and then call a negative recent? Those seem like "small" lies to me.

 

By this time I was monitoring my credit through EX and puchasing reports from all 3 CRAs on a regular basis. I received another letter from Amex lowering the CL from $41K to $35K stating "recent late payments" (plural as in more than one). I pulled all 3 CRA reports and there was only the one from MBNA, now around 5 years old. I now received a letter regarding my personal Amex chopping its limit in half or so with the stated reason of "recent late payments".

 

I started to get concerned with my reports and paid for another round of all 3. No new negative.

 

Amex told me they would return my CL if I could prove that there was no recent derogatory info on my reports. I sent them all 3. They sent me a letter that they needed an EX report. I had sent them EX, TU, EQ. I now removed TU and EQ from my copy of the document and sent them EX only. They sent me a lette saying they needed EX with a FICO score. I paid for EX with a FICO from myfico.com and sent it to them. No response. I called and they said I could fax it instead of sending another FedEx. I sent it and got no response. After numerous calls I finally spoke with a CSR who told me to send it again. She told me the report had to done "today" and faxed by "tomorrow". I paid for another report and faxed it. No response. I gave up! These seem like bigger lies to me.

 

The Amex Business Acct had checks that could be used for a payment where the vendor doesn't accept CC. I had probably used a dozen over the last 5 years. I now had one returned damaging my reletionship with a vendor. Amex told me I hadn't activated the checks. They had been activated long ago and this wasn't the first check in that checkbook. They paid the check the second time through after I called and complained. A few months later a new book of checks arrived. I called and activated them since I expected the first one to be used for the IRS in a month or so. I called them again right before I mailed my taxes to be sure they were activated. The CSR assured me that they were. I am sure I don't have to tell you how that worked out. The IRS won't run a bad check through a second time and since I mailed my taxes close to April 15, I now had late fees. Seems like more lies to me.

 


Yes, seems like AmEx and honesty are complete strangers.

 

I've never heard about the issues you described about business account checks.  My initial belief would that AmEx should be liable for failure to pay the checks, but for the fact that they probably have a paragraph or two of weasle words designed to limit their liability for being retarded.

 

It's also pretty sleazy of them to use an isolated late from, say, 2000 to AA several times over subsequent years.  I know of ECOA cases where courts have decided that AA must be directly related with a consumer's creditworthiness.  I would argue that once the initial AA was initiated, subsequent AAs must result from new events and not the same one rehashed ad nauseam.   

IAALBNYL
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Divorce and the joint credit card...

lol, this is fascinating (actually, it really is), but we have wandered seriously OT...  :smileyvery-happy:

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