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American Express

american express

The 43.5% APR Credit Card

Perhaps this British Airways American Express Premium Plus Card's interest rate is in "metric" APR, but if not, no matter what side of the pond you're on on, or road you drive on, you must agree that a 43.5% variable interest rate is bollocks. Who cares how many bonus miles you get, they're just going to get devalued anyway.

UPDATE: The 43.5% APR is the effective APR after you include the £150 annual fee. Like commenter Hanke wrote, "It's just like those payday loan places, where although the actual interest rate is low, the fees associated with the service give you a 300%APR." Makes you wonder, though, what about all those American credit cards with annual fees? Their effective APR is also higher then, and as far as I know, they don't have to include the fee in the stated APR (big print or no).

British Airways American Express [Official Site] (Thanks to Kerwin!)


credit cards

10 Credit Card Company Tricks To Beware

Are you smarter than a credit card company? They've got billions riding on their belief that you're not. Check out these 10 methods, via the Americans for Fairness in Lending, credit card companies use to make extra money off you that you may not even be aware of, knowledge that could save you hundreds in extra fees. More »

your rights

This McDonald's Charges 25¢ To Use A Credit Or Debit Card, Violates Merchant Agreement

Reader Brandon sent us this picture of a McDonald's violating its merchant agreement by charging a fee for using a credit or debit card. The text reads, "FEE ASSOCIATED WITH CREDIT/DEBIT CARD OF 25¢ WILL BE APPLIED TO CARD TOTAL." More »

Sears death watch

Sears Is Now Officially Too Incompetent To Even Take Your Money

Gregg wants us to know that Sears has just hung up on one of the last people in America who hasn't totally given up on them. He's spent quite a lot of time lately trying to give them $1500 for a lawn tractor, but they just couldn't figure out how to complete the transaction. Yes, Sears has finally gotten to the point that they can't take your money even if you want to give it to them. More »

complaints

Rogue Charges Resurrect Expired Amex Card

Patricia closed her company's American Express Delta Sky Miles card six months ago, but the expired card unexpectedly sprang to life thanks to a supplier's accidental charge. American Express laughed off the matter, saying "this happens all of the time," adding that it's Patricia's responsibility to ensure that all vendors destroy her outdated billing information. More »

American Express' profits fell 6% as more Americans defaulted on their credit card debts. [NYT]

mysteries

What Happens When You Pay Your $0.19 Amex Bill With 7 Origami Checks?

Bad Consumer Smith finally paid off her American Express Optima card after 14 years, but couldn't believe that Amex tacked on a $0.19 finance charge to her last bill. Smith summoned her lesser angels to work out a fitting response. Here's what she came up with:

I sent AmEx two checks for a penny each, one for two cents, two for three cents, one for four cents, and one for a nickel.

I didn't want them to accidentally drop one, and I was still in a bad mood, so I folded the first check up. Then the second. Then I realized I could fold them all up... around each other.

Topped off with the billing slip, with "stupid bill" written in green marker on it.

Hit the jump for Amex's response.

More »

disputes

Credit Card Expert Disputes Erroneous Charge, Frustration Ensues

Georgetown law professor and Credit Slips blogger Adam Levitin is having trouble disputing an erroneous $176.96 charge on his Citibank Amex card from PACER, the federal court's online docket system, which he accesses for free. The professor is a consumer credit expert and should have no problem understanding and fixing the error, right? Fat chance. More »

errors

Misplaced Poster Reminds You To "Generate Many Millions of Dollars" For JetBlue

Reader Adam noticed something strange about a poster at the JetBlue terminal at JFk...
My girlfriend and I had a layover at JFK last week. While I was waiting for her in the bathroom I started reading a poster that seemed to be prompting me to get a JetBlue American Express card.
More »

credit cards

American Express Writes Down $275 Million Because You Can't Pay Your Bills

American Express stock fell 7% after saying it would have to write off $275 million, thanks to more and more customers not paying their bills. What is probably happening is that people can't tap their home equity so they're going to the next easiest line of credit, credit cards, and failing to pay their bills there as well. In Walden, Thoreau talks about how early New Englanders would make their first homes by digging a cellar in the ground and putting a roof of saplings and bark over the top of it. My, that would make a mighty fine recession shelter.

American Express Warns About Earnings [NYT]


your rights

How To Report Merchants For Requiring A Minimum Purchase Or Making You Show ID

Stores are violating their contract with the credit card companies if they set minimum or maximum charges, or force you to show ID in addition to your credit card (with the obvious exception being for age-limited purchases). Depending on your state and your card issuer, surcharges or "convenience fees" may be banned as well. The best way to straighten these guys out is to report them to the credit card company. People who have done so on the Credit Boards message board say that when they report a merchant, they get a letter from the credit card company and when they go back to the store, the shenanigans have stopped. Here's all the contact infos for the credit card companies to file a merchant complaint, as well as links to merchant agreements, in case you feel like standing up for your consumer rights. Someone better warn Amy's Ice Cream! More »

complaints

AmEx Incompetence Unleashes Zombie Debt Collectors On Innocent Reader

Richard writes:
I am an MD-PhD, working at a medical center in New York. In 2006 I came here form Wisconsin, and at that point I called American Express (had a credit card with them for about 7-8 years before), explained my move, and the new academic position I was taking on, and asked them if they can help me in the transition period while moving. The rep told me that since my account is in excellent standing, I can go for 2 to 3 months without incurring late fees or penalties, IF I can prove that I am moving to another state and taking on a new job, to which I said, of course, there will be plenty of documents such as rental agreement, job offer, etc., to prove that. I was at the same time told, that "American Express helps its card holders in times of need and transition".

About 2-3 months later I wasn't able to make a payment on-line, then found out that my on-line access was inactivated and the account closed and forwarded to collection agencies.


More »

security

Don't Like RFID In Your Credit Card? Ask 'Em To Turn It Off

While the danger of someone long-distance slurping the account information communicating out the RFID chips being increasingly embedded in credit cards is, for the time being, remote, reader Eyebrows McGee reports success in asking AmEx to turn it off... More »

money

Max Your Cashback Combining American Express Blue Cash And Chase Freedom Cash Visa Credit Cards

Free Money Finance has a good post on combining the cashback powers of American Express Blue Cash and Chase Freedom Cash Visa Credit Cards for maximum moolah back in your pocket. More »

readers

XBOX360 Consumer Pwns Microsoft Using Level 34 American Express Powers

Remember Richard? Microsoft and numerous commenters mocked him for trying to get his XBOX360 fixed under warranty repair because he had a random tech pry open the box, thus voiding the warranty. More »

american express

Want To Opt Out Of Information Sharing? AmEx Doesn't Answer The Phone

Christopher Null over at Yahoo! Tech doesn't want American Express to share information about him with their "Affiliates and other companies we work with." Christopher wants to opt out. That's where he ran into trouble:
At the bottom of page three is a coupon with four check boxes on it. Check each one and I can opt out of a multitude of different marketing opportunities. Naturally, I'd prefer to simply call in my opt-out preferences to the 800 number printed on the the slip. Otherwise I'll have to dig up an envelope (no reply envelope was included), write the multi-line address on it, stamp it, mail it, and hope for the best. Calling the 800 number is relatively free and painless, while dealing with postal mail is by definition a pain in the rear. And for some reason, I just don't trust this method to actually work.
More »

american express

American Express: What's An Apartment Number?

American Express truncated Ted's address and sent his account to collections when he never received or paid his bill. The card in question was a backup card Ted used once in May 2006. He called Amex when he didn't receive a bill in June. They told him a bill would only be issued if there were charges. He asked for one anyway, but they refused. Company policy.
Jump forward to December 27th. 8:30 AM. I get woken up by a collections agency telling me a) that I owe American Express for a charge from August, that b) I was obviously defrauding them, and that c) I was, to put it mildly, not being cooperative.
Ted never received a statement. Ted never received a late-notice. Ted never got a call from Amex. So why was a collections agency on the phone? More »

amex

American Express Extended Warranty Protection Buys You A New Laptop

Sick of listening to us tell you not to buy the extended warranty at Best Buy? Listen to this: David first wrote to us back in December about a laptop he'd purchased for his sister-in-law as a Christmas gift the year before. The laptop, a Compaq, had simply stopped working two weeks after its one-year warranty (from date of purchase) had ended. David found this especially frustrating, because his sister-in-law had not even opened the laptop until Christmas. From David's email:
So I dug out the receipt and she called Compaq/HP. She told them everything and they said it needed to be sent in for repair and that they WOULD cover it under the 1 year warranty. So she had me fax them the receipt. When she called back they said that they WOULD NOT cover it.

Now I am mad. So I called back this morning and went through the whole thing with several layers of managers and what not all saying no. I find this absolutely ridiculous...is there anything I can do? Should I contact HP non-support customer service? I just find this so ridiculous. I literally could have bought the laptop a week later, still given it to her on Christmas, and thus it would have broken the same time, and it would be covered.
After a bit of research, we knew David had pretty much exhausted his options with Compaq, but there was still hope. Even without an extended warranty, we helped David get his laptop replaced. How? Read our response to David and his success story inside. More »