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OT : Amex is the worst


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Showing 1-25 of 40 posts in this discussion
Initial post: Dec 3, 2012 9:34:40 AM PST
So I have an Amex with a small balance and I went online to pay it today. The due date was the 2nd a Sunday, I go to make the payment and it shows that a late fee was already on my account it was applied yesterday on the due date, I call them up and spoke with two different people and they refused to do anything about it. I paid my full balance and cancelled my card.

I'm so glad these cards have no power over me. if I had large balance they could just push me around and charge whatever they want. I just think its crazy they would be willing to lose me as a customer for $35.

Posted on Dec 3, 2012 9:37:16 AM PST
FOGE says:
Did it just get chilly in here? Bro, that story must have been cool.

Posted on Dec 3, 2012 9:38:21 AM PST
Error says:
Amex does not exist to provide you with convenient spending options. You are better off.

Posted on Dec 3, 2012 9:38:32 AM PST
Last edited by the author on Dec 3, 2012 9:39:13 AM PST
Keller says:
I always pay my bills (all bills) 7 days in advance of the due date. It seems to prevent issues like this. But yeah, you are correct companies are not there to make friends. I use my AMEX all the time, because my card is through Fidelity where I get ROTH IRA money. :)

Posted on Dec 3, 2012 9:39:16 AM PST
Soulshine says:
It absolutely is not crazy that they would apply the late fee and be okay with losing you as a customer, especially if you tend to pay off your monthly balance.

Posted on Dec 3, 2012 9:41:47 AM PST
I'm not looking for a friend I just think its shady to post a late fee the day a payment is due even if that is a Sunday.

Posted on Dec 3, 2012 9:43:12 AM PST
I dont usually pay the full balance I usually keep a balance of between $500-800 just for credit. I only paid the full balance today cause they pi$$ed me off.

In reply to an earlier post on Dec 3, 2012 9:45:12 AM PST
Last edited by the author on Dec 3, 2012 9:45:31 AM PST
Keller says:
Banks aren't open on Sunday, they knew the payment wasn't going to be received in time. Unfortunately credit companies make money from late charges. I personally had a big blowout with Chase over a car loan. I paid them 7 days in advance and they rejected my electronic payment for what ever reason. They didn't notify me of this rejection and charged me a late few 10 days later. I was furious. I avoid Chase, but have had good luck with AMEX. :)

In reply to an earlier post on Dec 3, 2012 9:47:52 AM PST
I worked in the banking/finance industry for a little while. When you have a payment that's due on the weekend, (whether it's a credit card, bill, car payment, etc) the best idea is to submit the payment on the Friday before it's due (or the Thursday, if you can) and then hold on to the receipt that shows the date and time that you paid.

For many financial institutions any business done after the close of business on Friday is considered to be Monday's business. For example, if you make a non-cash deposit at your bank on a Saturday it won't actually hard-post to the account until Monday at midnight and it won't be available until Tuesday morning. I bet this same rule applies to credit card payments as well.

Posted on Dec 3, 2012 9:49:32 AM PST
I. Flores says:
Credit sucks. That's why I carry a big bag full of quarters with me at all times.

In reply to an earlier post on Dec 3, 2012 9:54:20 AM PST
jtshiel says:
You just done and gone ruined your credit son.

In reply to an earlier post on Dec 3, 2012 9:58:35 AM PST
Soulshine says:
I agree that it is shady. But in the context of how credit card companies make their money maybe it isn't so shady.

Now if you had scheduled your payment ON your due date, and they still charged you because it can't possibly get a bank transaction through on a Sunday - well that would have been super shady.

In reply to an earlier post on Dec 3, 2012 9:58:38 AM PST
Uncle Ulty says:
Then to them they aren't losing much. They want more customers who don't pay their monthly balance so they can get all of that interest.

In reply to an earlier post on Dec 3, 2012 10:01:11 AM PST
WeScYdE says:
You do realize how amex cards specifically work right you dont get charged any interest as long as you pay the balance at the end of the month. Thats the selling point of an Amex card. Also I am sure it clearly states in your guidelines to pay before the due date if it falls on a weekend. If you think amex is bad try Home Depot

I had a card with them for two years used it a lot when i had a house and always paid on time and paid of my balance. WHen i had to short sale my house i paid off my balance two days before they sent a letter telling me due to my credit changing they would have to cancel my card for no other reason. Now that is Some BS, now my credit is back to normal and they will Never have my bussiness again. They were the only company that did that to me and honestly my credit was not even bad the house was the only thing affecting me.

In reply to an earlier post on Dec 3, 2012 10:06:04 AM PST
Amex has always been the "hoity-toity" credit card. They cater to the upper class credit consumer; if you have even the slightest blemish on your credit report it makes your chances of getting approved for an Amex very slim.

Sorry to hear they gave you the shaft, though.

Posted on Dec 3, 2012 10:59:40 AM PST
John McClane says:
Discover hits you with a late charge fast as well.

In reply to an earlier post on Dec 3, 2012 11:06:09 AM PST
FOGE says:
Pretty crazy how these companys charge you extra when you dont pay them when they ask you to pay them. Inconceivable!

In reply to an earlier post on Dec 3, 2012 11:10:41 AM PST
Now, now...let's be nice.

In reply to an earlier post on Dec 3, 2012 11:24:13 AM PST
J. Pardee says:
You are definitely right that Amex is picky for what customers they will accept. I tried applying for one of their cards a few years ago and I was rejected even though I had a 750 score at the time.

In reply to an earlier post on Dec 3, 2012 11:27:49 AM PST
FOGE says:
Ha, yeah, you must be new here ;)

In reply to an earlier post on Dec 3, 2012 11:29:28 AM PST
MrFoxhound says:
He's already on my ignore list. He must have changed his name from something else. I have a hard time believing that I would place a fellow Futurama fan on ignore.

On topic: AMEX is my favorite card. I have Blue. The only thing that annoys me about them is that I've had them for nearly a decade and they haven't increased my credit once.

Posted on Dec 3, 2012 11:31:32 AM PST
Paper Tiger says:
I love my Amex card and I linked the rewards to my Amazon account so I can use the points here. I just set all my bills to autodebit so I don't have to worry about the due date falling on a weekend thing etc.

In reply to an earlier post on Dec 3, 2012 11:32:42 AM PST
MrFoxhound says:
Oh yeah, I have that too with my Amex card. All the points I earn can be used as Amazon credit. That's a cool bonus.

In reply to an earlier post on Dec 3, 2012 11:38:47 AM PST
Paper Tiger says:
That's the only reason I keep CC's, well aside from potential emergencies. I pay for all my everyday expenses with them and just pay it off at the end of the month to get the rewards. My husband has frequent flyer miles and I get Amazon points and State Farm dollars.

In reply to an earlier post on Dec 3, 2012 12:31:21 PM PST
John McClane says:
I was travelling for business at the time, most companies have a grace period, you'll learn that when you start paying your own bills.
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This discussion

Discussion in:  Video Games forum
Participants:  19
Total posts:  40
Initial post:  Dec 3, 2012
Latest post:  Dec 3, 2012

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