Complaint / Review
American Express
30% APR imposed without notice after one late payment

After years of faithful on-time payments and consistent use of my credit card, I was charged a 30% APR without notice. I have always paid much more than the minimum due and often pay the total amount. Advance payments did not credit towards my next month amount due as do many other cards. And no grace period seems to be given for purchases.

I was indeed late for one month and at that particular time my balance was more than $7.000.00 so the APR was very effective at ballooning my balance in just a few months to over $13,000.00.

I did not closely watch my account and thought my spouse was charging to the card because the balance was increasing rapidly. After I realized that my spouse had made no charges, I contacted AMEX to report the charges. I had assumed identity theft at this point. AMEX informed me that due to a late payment my APR was changed several months prior.

What recourse do I have available?

V/r

FPO
U.S.A.