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RE: Really Ticked at American Express - 8/11/2009 12:17:30 AM
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NINEA
Posts: 199
Joined: 11/12/2008
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Writerchick, I had an experience like that with Chase. I had a no interest cash advance on my card that I paid automatically through my online billpay.
Without any notice, they bumped up the due date so I was late. There were late fees, huge interest rate (you lose "free" rate if you are late) fees, etc. I had it all reversed because I paid off the card immediately and cancelled it, but I nearly blew a gasket when I realized what they had done.
I will NEVER bank with those rapacious pirate Chase people again. I don't care if they are the last bank on earth or if they change their name to something else. I'll remember.
_____________________________
Not I; not ever again.
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RE: Really Ticked at American Express - 8/11/2009 2:42:26 PM
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writerchick
Posts: 370
Joined: 10/3/2008
Status: online
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quote:
I work for a small e-commerce company that's been in business for 20 years (used to do phone sales and brokering before the internet). We've had the same no-limit corporate Amex cards for the entire time, with a perfect track record. About 6 weeks ago, the company was sold, and the new owner has been getting nothing but grief from Amex about getting the new corporate charge cards. We use them to pay a variety of things including our web hosting & domain names, office supplies, and stock from several vendors. We've gone weeks now w/o cards.
Sorry to hear about that. I wonder why they're giving the new owner such grief.
quote:
ORIGINAL: NHH
Writerchick, I had an experience like that with Chase. I had a no interest cash advance on my card that I paid automatically through my online billpay.
Without any notice, they bumped up the due date so I was late. There were late fees, huge interest rate (you lose "free" rate if you are late) fees, etc. I had it all reversed because I paid off the card immediately and cancelled it, but I nearly blew a gasket when I realized what they had done.
I will NEVER bank with those rapacious pirate Chase people again. I don't care if they are the last bank on earth or if they change their name to something else. I'll remember.
Wow!! You know...I've heard nothing, but bad things about Chase. I just opened up a free checking account with them. They were offering $100 with a new account. Maybe I'll just take the free $100 and run. I have no intentions of seriously using this account. I'm really happy with my main accounts at ING Direct. I needed a local bank to deposit checks and I really want to get rid of Citibank.
Maybe I should look into a credit union instead for check deposits.
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RE: Really Ticked at American Express - 8/13/2009 8:46:39 PM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
Status: online
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I haven't had any problems with Chase til now either. They doubled my min payment. I DID read the change of terms and I didn't see anything that would indicate that or else I would have closed the account.. I saw the usual clauses for purchases , arbitration, etc.
However on the other Chase card I hold, they kept my interest rate the same and gave me a huge credit limit increase..
I might open an account at the credit union.. they have great rates for car loans, etc.. no min balance and might transfer the balance.
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RE: Really Ticked at American Express - 8/17/2009 8:27:16 PM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
Status: online
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I called them and they changed the minimum payment back and increased the rate, but since that card has been open so long it is still at a decent rate. 7.99%. So I will try to get the other ones paid off so I can "snowball it" and be done. I started an account at the credit union too so when the chase accounts are paid off I won't ever have to do give them any more money. LOL
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RE: Really Ticked at American Express - 8/18/2009 1:15:23 PM
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writerchick
Posts: 370
Joined: 10/3/2008
Status: online
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quote:
ORIGINAL: Miss Giggles
I called them and they changed the minimum payment back and increased the rate, but since that card has been open so long it is still at a decent rate. 7.99%. So I will try to get the other ones paid off so I can "snowball it" and be done. I started an account at the credit union too so when the chase accounts are paid off I won't ever have to do give them any more money. LOL
Good for you!!
Isn't it exciting to pay off debt? Lord's willing, I will have $0 in credit card debt by this time next year.
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RE: Really Ticked at American Express - 8/18/2009 1:27:57 PM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
Status: online
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Well I won't be able to pay mine off this year.. in fact I am not paying extra on them due to my job situation.. so I don't know if I'll be able to pay mine off early but the only thing I can do is try.
It will be a relief when everything is paid off though.
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RE: Really Ticked at American Express - 8/18/2009 8:48:03 PM
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clydewolf
Posts: 43
Joined: 8/6/2009
Status: offline
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A little story about American Express.
American Express was gearing up for a new ad campaign. They really wanted Annie Leibovitz to do the photography for this campaign.
Several months earlier Annie Leibovitz had applied for an American Express card. She was rejected.
I don't know if she did the work or not.
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RE: Really Ticked at American Express - 8/19/2009 7:29:27 AM
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Momto3boys1girl
Posts: 12
Joined: 4/18/2005
From: Land of 10,000 Lakes
Status: offline
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Not sure what is all going on with the banking industry, but we have gotten some changes in terms notices and had to not agree...thus closing the account. Also, we have had large credit increases that we did not ask for. When we decided to transfer a balance I was told no. Due to my credit report they did not authorize it. So, I got a copy of my credit report. My rating is excellent and there is nothing new on it...I could have transferred the money a month ago, but had decided to wait. Not sure what they are looking at, but it has caused us a bit of grief at this point.
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Kristi
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RE: Really Ticked at American Express - 8/19/2009 7:43:36 AM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
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There are new credit card rules going into effect in feb 2010. So they are raising the rates now I guess to start to recover some of the lost revenue. Plus they are raising the rates anyway to cover the amount of defaults. So the ones that can pay are paying for others that cant. Theres a talk of class action lawsuits since most of these companies got the govt bailout money.
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RE: Really Ticked at American Express - 8/19/2009 11:37:45 AM
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Coffee_Drinker
Posts: 228
Joined: 5/20/2008
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quote:
ORIGINAL: writerchick
She goes on to say that they did a routine check of my credit report and canceled my card because of two derogatory items.
First... sorry about your dad. I hope you are doing alright.
........................................................
You can have perfect credit and you will have what Credit Agencies consider "derogatory items."
"Too many Inquiries" is a good one.
"Too many revolving accounts" is another (even if you have zero balances).
"Potential debt considered too high."
Credit agencies don't work for the consumer.
I just had one cancelled the same way - with one exception... they jacked up my APR about 10 percentage points. When I received my letter it said I was a risk.
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RE: Really Ticked at American Express - 8/19/2009 1:00:46 PM
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writerchick
Posts: 370
Joined: 10/3/2008
Status: online
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quote:
ORIGINAL: Coffee_Drinker
quote:
ORIGINAL: writerchick
She goes on to say that they did a routine check of my credit report and canceled my card because of two derogatory items.
First... sorry about your dad. I hope you are doing alright.
........................................................
You can have perfect credit and you will have what Credit Agencies consider "derogatory items."
"Too many Inquiries" is a good one.
"Too many revolving accounts" is another (even if you have zero balances).
"Potential debt considered too high."
Credit agencies don't work for the consumer.
I just had one cancelled the same way - with one exception... they jacked up my APR about 10 percentage points. When I received my letter it said I was a risk.
Thank you. I have my days, but for the most part I'm okay.
I'm so sick of being at the mercy of these corporations. But, just like the Bible says, the borrower is slave to the lender. Still, from reading other message boards, it sounds like the slaves are an inch from revolting.
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RE: Really Ticked at American Express - 8/21/2009 2:54:40 PM
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Coffee_Drinker
Posts: 228
Joined: 5/20/2008
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quote:
ORIGINAL: writerchick
I'm so sick of being at the mercy of these corporations. But, just like the Bible says, the borrower is slave to the lender. Still, from reading other message boards, it sounds like the slaves are an inch from revolting.
Ditto... Not a lot of happy people out there. The CC Companies have until 02/2010 to play with people CC accounts. Then they're "locked in" (from what I understand). However, as a resident of planet earth - I'll believe it when I see it. I'm sure the CC Companies will find a loophole somewhere (like move overseas where US laws don't count (ie...HSBC).
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RE: Really Ticked at American Express - 8/21/2009 3:05:19 PM
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GregandJenny
Posts: 665
Joined: 2/16/2006
From: Near Seattle Washington
Status: online
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quote:
out there. The CC Companies have until 02/2010 to play with people CC accounts. Then they're "locked in" (from what I understand). However, as a resident of planet earth - I'll believe it when I see it. I'm sure the CC Companies will find a loophole somewhere (like move overseas where US laws don't count (ie...H
why not just get rid of the whole industry?
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It does not have to be well with my circumstance to be well with my soul!
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RE: Really Ticked at American Express - 8/21/2009 3:28:48 PM
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APZR
Posts: 1052
Joined: 4/18/2005
From: GA
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quote:
ORIGINAL: GregandJenny
why not just get rid of the whole industry?
As a business owner, that is not a viable option. Sometimes in between waiting on receivables and partially completed orders, we have to use credit to make payroll. If it were a perfect world, and everyone paid their bills on time, credit wouldn't be necessary.
_____________________________
Ya can't keep trouble from visitin, but you don't have to offer it a chair.
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RE: Really Ticked at American Express - 8/21/2009 3:43:57 PM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
Status: online
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It is a lot easier to get a refund on a large purchase via a credit card than to wait on a check from a corporate office.
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RE: Really Ticked at American Express - 8/21/2009 3:53:02 PM
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APZR
Posts: 1052
Joined: 4/18/2005
From: GA
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For sure! Not to mention the theft of a CC limits your exposure, where as the theft of a debit card... they can wipe out your whole account.
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Ya can't keep trouble from visitin, but you don't have to offer it a chair.
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RE: Really Ticked at American Express - 8/24/2009 12:35:09 PM
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Coffee_Drinker
Posts: 228
Joined: 5/20/2008
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quote:
ORIGINAL: APZR
quote:
ORIGINAL: GregandJenny
why not just get rid of the whole industry?
As a business owner, that is not a viable option. Sometimes in between waiting on receivables and partially completed orders, we have to use credit to make payroll. If it were a perfect world, and everyone paid their bills on time, credit wouldn't be necessary.
I agree with both of you.
There was a time when I wholeheartedly pursued credit because I though it was something I couldn't live without - which did turn out to be "somewhat" true. Credit, unfortunately, does have its necessary needs for many people.
Credit did help me get my daughter a car when hers quit working entirely (she couldn't get one).
I have a friend who owns a small grocery store. He used to allow "credit" to his customers. One of his biggest complaints was the timeliness of these people paying him back for the store credit he granted them. Most did on a monthly basis, but some were always late and others just ran up the account and never paid him back. He finally cancelled the "store credit" entirely.
Another thought... I went to a "mom & pop" gas station some time back and purchased a soda and a candy bar (health food nut here) and went to pay using my debit card. Even though they had the machine they wouldn't allow me to make the purchase using my debit card. Why? Because I wasn't purchasing enough. I didn't know it, but businesses get charged everytime a debit or credit card is used. All this time I thought it was a convenience.
Live and Learn.
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RE: Really Ticked at American Express - 8/25/2009 12:05:06 PM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
Status: online
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Many jobs pull credit checks. If you are applying to a job with hundreds of applicants, they may not bother to offer you the job. Or they may offer you the job contigent on a credit check and background check
It is not illegal in all states to base insurance rates on FICO scores. In some areas its a substantial amount of money.
Oh my one chase card went up to 22%. That was a rewards card in which I really didn't carry a balance.. but will close it.
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RE: Really Ticked at American Express - 8/25/2009 3:38:05 PM
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Miss Giggles
Posts: 5213
Joined: 4/18/2005
From: MI
Status: online
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Well the credit limit increase on the other card I have more than makes up for the one I am closing.
Plus they pulled my credit at the credit union in order to open up an account and its pretty good.
Too bad the formula wasn't so super secret so that you could figure it out, but they don't want people to know it.
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RE: Really Ticked at American Express - 8/30/2009 8:58:55 PM
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humbleinspirit
Posts: 16732
Joined: 4/13/2005
From: Just Outside of Boston
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quote:
Another thought... I went to a "mom & pop" gas station some time back and purchased a soda and a candy bar (health food nut here) and went to pay using my debit card. Even though they had the machine they wouldn't allow me to make the purchase using my debit card. Why? Because I wasn't purchasing enough. I didn't know it, but businesses get charged everytime a debit or credit card is used. All this time I thought it was a convenience.
While merchants do have this practice, it is against the agreement that they have with the credit card/debit merchant.
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RE: Really Ticked at American Express - 8/30/2009 9:07:11 PM
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GregandJenny
Posts: 665
Joined: 2/16/2006
From: Near Seattle Washington
Status: online
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quote:
While merchants do have this practice, it is against the agreement that they have with the credit card/debit merchant.
With all due respect kind sire, do you have proof of this?
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It does not have to be well with my circumstance to be well with my soul!
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RE: Really Ticked at American Express - 8/30/2009 9:08:53 PM
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humbleinspirit
Posts: 16732
Joined: 4/13/2005
From: Just Outside of Boston
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quote:
ORIGINAL: GregandJenny
quote:
While merchants do have this practice, it is against the agreement that they have with the credit card/debit merchant.
With all due respect kind sire, do you have proof of this?
Sure, just call your credit card company and ask them. This was true as of 15 years ago. I doubt the rules have changed much at all.
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RE: Really Ticked at American Express - 9/1/2009 4:06:43 AM
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Momto3boys1girl
Posts: 12
Joined: 4/18/2005
From: Land of 10,000 Lakes
Status: offline
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So why are other places not allowing checks anymore, if they are charged for CC and debit cards? I am thinking mostly of food industry places.
Harvie,
I have wondered about how closing an account affects your score. Not that I have a choice when they send an amendment. If I don't agree that my rate should go way up, I can decline, but I am also closing that account at the same time. That is my understanding of it.
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Kristi
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RE: Really Ticked at American Express - 9/1/2009 11:00:24 AM
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GregandJenny
Posts: 665
Joined: 2/16/2006
From: Near Seattle Washington
Status: online
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quote:
So why are other places not allowing checks anymore, if they are charged for CC and debit cards? I am thinking mostly of food industry places.
we don't allow checks because to many people write bad ones.
Merchants get charged by their credit card processor, higher volume places and just place that fee into their cost of sales, while others decide that they just wont' take a sale under a certain amount.
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It does not have to be well with my circumstance to be well with my soul!
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