Hey american express customers... Is this happening to you? I open a american express account about a year and a half ago. I made a balance transfer at a great 3.99 interest rate, always making my payments on time and always more than the minimun payment, but I made a mistake, I made a few purchases, nothing crazy, about 1300, at a interest rate of 8.99, after they raise my rate to 11.24 I started to pay attention to my statements and the payments I make go towards the balance tranfers at 3.99 interest rate and nothing goes to my purchases...
Here is the ripoff I get charge interest on my purchases at 11.24 and interest on my balance transfer a 3.99, my payment takes care of the finance charges on the two balances but the finance charges on my purchases get add up to my purchases balances every month, so even if I make my payments on time and more than the minimun my purchases balance goes up every month and I wont chip away on this balance until I finist paying the balance transfer... Is this fair? Is this legal?
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