Courey Gouker’s recent experience with American Express encapsulates every trick the company has pulled in the past few months to drive away their customers, including dropping the credit limit, hiking the rate, and even offering him a cash bonus to pay off his balance in full. In addition, the company’s CSRs made promises to him that they didn’t keep, and notes on his account have gone missing. About the only thing they haven’t done is email a photo of the CEO flipping him the bird.
It’s amazing how they’d be willing to lose a few thousand dollars in interest, an excellent and very loyal customer of over 7 years, plus some additional negative publicity over something like this. At this point I’ll be taking them up on that 5.4% credit offer, paying them off completely and never using them again if possible. I won’t close the accounts since it’ll probably do my FICO no good, but oh well. I’ll just be the customer they hate, the type that earns them no interest, the type to use Visa, it’s accepted absolutely everywhere anyway.
“Cheeky American Express, double the interest but a 5.4% credit in return.” [coreygo.com]