I became a member of Amex in 2000 and at some point thereafter used my cash advance limit of $200.00 What my complain is that Amex has never allowed a penny of my payment to go toward the Cash Advance portion of the credit card. They are getting 22.25% on that cash advance portion and have accumalated $218.24 on the original $200.00 At one point last year I called Amex and asked them if I could send apayment toward the cash advance portion of the credit card. They informed me that it is totally Amexs discretion where any payment would be used toward the balance.
So they continue to get 22.25% on the original $200.00 and nothing going toward that balance. They referred me to my original agreement. I contend that this should be illegal and wonder how many other consumers out there are being shafted the same way. I make my payments monthly and have not been late and they always get about triple the payment that is due.
Why would the government allow Amex to do this and Rip Off The Consumer? I believe this is a Unfair Business Practice.
0 comments