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| Attention American express users https://forum.costaricaticas.com/viewtopic.php?f=1&t=30105 |
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| Author: | MarkL54 [ Fri Aug 14, 2009 5:31 pm ] |
| Post subject: | Attention American express users |
I got a notice today raising my interest rate a couple of points. I called and they told me this is an accross the board increase and would not negociate at all. I carry no balence so am really not affected but it pisses me of as I have perfect credit and charged 30,000 with them last year. This is apparently a result of the credit reforms recently passed. Just a heads up. |
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| Author: | CLN20 [ Fri Aug 14, 2009 6:37 pm ] |
| Post subject: | |
This is nothing new. All credit card rates are going up, while the limits seem to be going down. The CARD act will actually make things worse for people I think, and this is just the start. |
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| Author: | Orange [ Sat Aug 15, 2009 10:10 am ] |
| Post subject: | Re: Attention American express users |
MarkL54 wrote: I got a notice today raising my interest rate a couple of points. I called and they told me this is an accross the board increase and would not negociate at all. I carry no balence so am really not affected but it pisses me of as I have perfect credit and charged 30,000 with them last year. This is apparently a result of the credit reforms recently passed. Just a heads up.
same here, and no balance either. |
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| Author: | LocoHombre [ Sat Aug 15, 2009 10:18 am ] |
| Post subject: | Re: Attention American express users |
MarkL54 wrote: I got a notice today raising my interest rate a couple of points. I called and they told me this is an accross the board increase and would not negociate at all. I carry no balence so am really not affected but it pisses me of as I have perfect credit and charged 30,000 with them last year. This is apparently a result of the credit reforms recently passed. Just a heads up.
 same here..unfortunately i was carrying a balance  total BS, but they have you by the short hairs 
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| Author: | PacoLoco [ Sat Aug 15, 2009 10:25 am ] |
| Post subject: | |
Bad Squiddy, bad, bad, bad. Didn't Clark Howard and Dave Ramsey teach you anything? Quit spending $ on hookers and pay off your debt.
I got the letter too, APR and late fee going up but they didn't say how much. If it wasn't for the miles I'd tell them to stick their card up their ass. 
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| Author: | SpursFan [ Sat Aug 15, 2009 10:42 am ] |
| Post subject: | Amex |
Joining the club... I carry a zero balance as well and got the insulting letter too. Will chose to use my other card just for the heck of it. Only use it for Costco and Costco gas purchases anyways. SF 
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| Author: | Puro Party [ Sun Aug 16, 2009 3:09 pm ] |
| Post subject: | |
I wonder if Clark and Dave whoremonger too?? LOL 
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| Author: | Witling [ Sun Aug 16, 2009 3:26 pm ] |
| Post subject: | Re: Attention American express users |
MarkL54 wrote: I carry no balance so am really not affected but it pisses me of as I have perfect credit and charged 30,000 with them last year.
Apparently you boys don't understand how the credit card business works. By carrying no balance they aren't making any money off of you. You're a drag on their system. You're lucky they didn't cancel your cards altogether. Also carrying no balance shows a "potential" debt and can hurt your credit rating. There have been times in the past when I have actually had banks lower my credit limit to more reasonable levels. |
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| Author: | El Gringo [ Sun Aug 16, 2009 9:03 pm ] |
| Post subject: | |
Get their charge card and then this will not matter. I still get 1 point for each dollar with the platinum card. |
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| Author: | Mucho Gusto [ Mon Aug 17, 2009 9:16 am ] |
| Post subject: | Re: Attention American express users |
Witling wrote: Also carrying no balance shows a "potential" debt and can hurt your credit rating.
I concur, as this happened to me also. You might have outstanding credit, but if they see a couple credit cards with $0. balance and a big credit line available, they quickly realize that you could go into deep debt with little more than a signature on a credit card slip. It actually hurts your beacon score! 
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| Author: | PacoLoco [ Mon Aug 17, 2009 9:42 am ] |
| Post subject: | Re: Attention American express users |
Witling wrote: Apparently you boys don't understand how the credit card business works. By carrying no balance they aren't making any money off of you. You're a drag on their system. Not entirely true since they still make transaction fees (Amex has the highest) plus annual fees.
http://weakonomics.com/2009/06/09/weako ... ake-money/ |
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| Author: | Witling [ Mon Aug 17, 2009 7:35 pm ] |
| Post subject: | Re: Attention American express users |
PacoLoco wrote: Not entirely true since they still make transaction fees (Amex has the highest) plus annual fees.
http://weakonomics.com/2009/06/09/weako ... ake-money/ True enough but transaction fees and annual fees are NOT related to carrying a balance thus making them not germane to this discussion. |
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| Author: | Irish Drifter [ Mon Aug 17, 2009 10:55 pm ] |
| Post subject: | Re: Attention American express users |
Witling wrote: PacoLoco wrote: Not entirely true since they still make transaction fees (Amex has the highest) plus annual fees. http://weakonomics.com/2009/06/09/weako ... ake-money/ True enough but transaction fees and annual fees are NOT related to carrying a balance thus making them not germane to this discussion. Got to admit you guys have me confused. When I had an AMEX card, which I gave up years ago, I had to pay a $75.00 annual fee for the gold card. I also had to pay my monthly charges in full each month. Are you saying that now you can carry a balance and make monthly payments 
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| Author: | Ciaociao32001 [ Mon Aug 17, 2009 11:29 pm ] |
| Post subject: | Re: Attention American express users |
Irish Drifter wrote: Got to admit you guys have me confused.
When I had an AMEX card, which I gave up years ago, I had to pay a $75.00 annual fee for the gold card. I also had to pay my monthly charges in full each month. Are you saying that now you can carry a balance and make monthly payments Yes ID, things have changed with the AMEX card. The fee is now $150, and when I pay my monthly bill online, I am given the option of paying off everything or leaving a balance. If you buy items costing more than a couple hundred bucks, that amount goes into a 'sign and pay' account, which you can pay over time. I'm not real certain about all the particulars, because I almost always pay the entire balance. Ciaociao |
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| Author: | Witling [ Wed Aug 19, 2009 12:05 am ] |
| Post subject: | |
AMEX offers many different types of cards now with different fees and different types of rewards (points, miles, etc). http://home.americanexpress.com/home/mt_personal.shtml? Even Citibank offers an AMEX card (go figure). http://creditcards.citicards.com/usc/Tr ... 4428A57F6D |
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