I had a problem situation where a bill I paid got posted a day late and I got hit with a huge interest chagre. I have done literally millions of dollars with AMEX for many years with never an issue. I have already talked to them and mailed them and they dont want to back down, however I think they basically tell everyone to get lost. Since the card companies are really under the gun right now I think I should try and press the complaint further. Whether it will help me or not who knows. Any suggestions where I shoudl file some formal complaints to get their attention? Thanks for any advice. Sometimes with big companies I have found it key to get to the right person.
TIA
Message edited by: mrdealfanatic on 2009-11-02 11:17:59 CST
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mrdealfanatic said:I had a problem situation where a bill I paid got posted a day late and I got hit with a huge interest chagre. I have done literally millions of dollars with AMEX for many years with never an issue. I have already talked to them and mailed them and they dont want to back down, however I think they basically tell everyone to get lost. Since the card companies are really under the gun right now I think I should try and press the complaint further. Whether it will help me or not who knows. Any suggestions where I shoudl file some formal complaints to get their attention? Thanks for any advice. Sometimes with big companies I have found it key to get to the right person.
TIA
If you have millions of dollars of history with them, I'm surprised they wouldn't waive it as a one time customer courtesy.
My Citi relationship is <$40K/year and they've waived fees and interest charges every time I've called them. Either try another CSR, contact Executive Customer Service, or move on with your life.
If you paid your bill a day late, you are subject to a finance charges. Did you make the payment with a check? Online payment is fail proof as it tells you exactly when it would be posted
Why do you feel you should get out of this interest charge simply based on how much you charged over the years, versus someone who had to pay interest on a $100 purchase? Interest charges are just that, a penalty for paying late...Which you did. What is your argument going to be, "I am better than everyone else, make a special exemption for me?"
All my credit card companies credited me when I asked and a couple csr's stated they are willing to do this once a year. However if you are late more than once in past 12 months, then no-go. The last last payment I made was in '08 but was pre-08 meltdown so maybe things have changed since then.
My 75 year old father occasionally forgets to pay and they always waive the interest and late fees. He's been a customer for almost forty years, but I don't think his total spending on the card has reached anywhere near the millions.
If you can afford to spend that much, you can afford to pay the interest. Deal with it.
Never late in 17 yrs. Had an issue with the online system. And frankly doing several million dollars in charges over the past 5 years or more should count for something. Yes there are people that charge a few hundred per month. In one month I may charge more than their account 5-10 yrs combined. The realties of life and business are companies generally do more to keep large accts, and rightfully so. AMEX got into trouble trying to acquire a different account base. The level of service from Nordstrom is different than WalMart.
I have several thousand accounts with my wholesale business. If a top tier account has a beef I wont lose that customer over something petty. BTW all the comments about being late etc are fine until 2009 when the US government gave AMEX tarp money. I can afford to pay the interest, however it burns me. And I can assure you AMEX the way is to get past most of the paper pushers.
mrdealfanatic said:Never late in 17 yrs. Had an issue with the online system. And frankly doing several million dollars in charges over the past 5 years or more should count for something. Yes there are people that charge a few hundred per month. In one month I may charge more than their account 5-10 yrs combined. The realties of life and business are companies generally do more to keep large accts, and rightfully so. AMEX got into trouble trying to acquire a different account base. The level of service from Nordstrom is different than WalMart.
I have several thousand accounts with my wholesale business. If a top tier account has a beef I wont lose that customer over something petty. BTW all the comments about being late etc are fine until 2009 when the US government gave AMEX tarp money. I can afford to pay the interest, however it burns me. And I can assure you AMEX the way is to get past most of the paper pushers.
I don't disagree that a loyal, profitable customer is someone that they aim to keep.
I'm just shocked that you're having a hard time getting a waiver. I've never really encountered anyone turned down for a "customer courtesy". There must be something more to this story.
BTW all the comments about being late etc are fine until 2009 when the US government gave AMEX tarp money. I don't see how that has anything to do with your interest payment. In addition, AMEX paid back TARP in July with interest.
NEW YORK - American Express Co. said Wednesday it repaid the $3.39 billion it received last fall as part of the government's $700 billion bank investment program.
American Express received the money as part of the Treasury Department's Troubled Asset Relief Program to help revive the stagnant credit and lending markets amid one of the worst periods of the credit crisis.
The New York-based credit card lender also paid the Treasury Department $15.1 million of accrued dividends on the investment. American Express had previously paid the government $59.3 million in dividends on the investment.
So if anything, the lesson here is that... if you borrow money, you should pay it back on time with interest. No?
mrdealfanatic said:I had a problem situation where a bill I paid got posted a day late and I got hit with a huge interest chagre. I have done literally millions of dollars with AMEX for many years with never an issue. I have already talked to them and mailed them and they dont want to back down, however I think they basically tell everyone to get lost. Since the card companies are really under the gun right now I think I should try and press the complaint further. Whether it will help me or not who knows. Any suggestions where I shoudl file some formal complaints to get their attention? Thanks for any advice. Sometimes with big companies I have found it key to get to the right person.
TIA
I usually have to talk to a supervisor before anything gets done. This is with Citi and Chase, and they do it as soon as I ask if it's a supervisor. No experience with American Express .
I call bluff. I have been an AMEX customer for about 8 years now with an average spending of $1500 a month, and have missed payments a couple of times. Always called the CR and they waive it off. There is something more to the story than what OP tells us!
DesiVibe said:I call bluff. I have been an AMEX customer for about 8 years now with an average spending of $1500 a month, and have missed payments a couple of times. Always called the CR and they waive it off. There is something more to the story than what OP tells us!He is "fighting a AMEX on a dispute!"
The charges sound to be valid. If the original poster doesn't like the customer service, then he should cancel the card and move on. Unless, of course AMEX has him by the balls and knows it; then, just pay up.
Well I always had a good experience with AMEX , I had a late payment but they waived the charge that happened twice , May be you got the wrong CSR . Try calling back and request to waive off the fee.. Good Luck
I think OP carries a balance on his AMEX account month to month. If you are late on an account with balance, they will bump up your interest rate by a huge amount. Maybe OP transferred his credit card balance to a low intro rate AMEX account, and now it jumps up to the regular credit card rate after the late payment.
Need said:I think OP carries a balance on his AMEX account month to month. If you are late on an account with balance, they will bump up your interest rate by a huge amount. Maybe OP transferred his credit card balance to a low intro rate AMEX account, and now it jumps up to the regular credit card rate after the late payment.
Even still, I've had success in getting the rate lowered back to the promo rate.
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