Informing Christians

American Express Tries To Pull A Fast One
Wednesday 05-20-09

I had heard about it on the news and now it happened to me. Consumers, be ware, charge card companies are pulling fast ones on consumers.

Twenty-six years of marriage and a credit score that reaches like that of the very rich, seemed to not matter to the charge card company. But, that could have been exactly what they were banking on.

Years ago, it was Wells Fargo that tried to get us into a pickle, figuring that we would pay late fees in order to keep our good credit. And that is exactly what they do.

With Wells Fargo, the company had a clause in the agreement that the payment stub would accompany the payment. Then they would be late sending the bill, hoping that we would be late with the payment, at which time, they would access a late fee. However, I knew when the bill was to be paid, so I did not leave it sitting. I paid it right when it would arrive. This was until one month when the bill just did not come.

Of course, I was told over the phone that it was still my responsibility to pay the bill, even without the payment stub, which I told them that they could get me on because of the clause in the agreement. Hence, they had me between a rock and a hard place. But, I had an out, with an empty charge card that had a low percentage rate. I had that credit card company do the payment, so that Wells Fargo could not claim that the pay-off payment did not reach them in time.

So, here it is years later and I am hearing on the news about people with good credit scores, having charge card companies pull fast ones on them. And low and behold, it happens to us.

Last week, I received an email from American Express. It was an email telling me that the credit card company lowered our available credit, by $2,000.00. This was a card that I used for anything that I purchased online. That was a huge cut that put me within around a $100.00 of going over the new credit line limit. I was not sent anything by U.S. mail, only email. Are you catching what I am saying here?

That's right, American Express was about to be the cause of me going over my line of credit. They lowered the amount, with only notifying me by email and no warning time. Had I decided to pay my upcoming yearly website and hosting fees, before checking that email, I would have gone right over that limit and been charged a hefty fee and risked my percentage rate being raised.

It is a good thing that I again, had an empty charge card. Once the balance transfer goes through, the American Express card will be closed

Debra J.M. Smith

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 Debra J.M. Smith