American Express called ME in 2000 and asked me to take their new "blue" card. Since it was offered at an extremely favorable rate of 9.99% I said Yes.
Well I was actually charged 10.99 percent at first, but being as this was lower than all my other cards I did not mind so much.
The trouble began when American Express began letting any tom dick and harry in the world charge unauthorized amounts to my card! I don't know where these companies got our card number but every month we would see charges and fees from companies we had never heard of. American Express has a fraud process but it is lengthy and time consuming and we were put throug it over and over again. They also refused to block certain companies from placing recurrent charges on our account. I was instructed to call every time I saw the bogus charge but they claimed they did nto have the etchnology to block that company from placing future charges against the account. This frustrated me no end.
But that wasn't the worst of it. The worst was that thanks to bogus charges, my account was often pushed over the credit line. Then the 9.99% rate they had promised me (10.99% in reality) suddenly morphed into a default 29.99% rate. They refused to do anything about this even though I am a responsible card holder who has never missed a payment adn the only reason the card ever went over thelimit was thanks to their finance charges and bogus charges from other companies.
I am still fighting this battle and will elt uo know how it turns out. I can only warn you that when American Axpress promises you a low rate card&watch out!!!
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