American Express
Paying double interest

Miscellaneous

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?


Company: American Express
Country: USA
State: California
City: Los Angeles
Address: BOX 0001
  <     >  

RELATED COMPLAINTS

American Express
Overcharged

American Express
Cut Off Sign & Travel With No Warning, Asking for Full Payment When We Were Late: 27%

American Express
Interest Rate Increase

Sears Gold Mastercard
Attempted to rip-off

American Express
Overcharged

Bank Of America
0% transfer offer, misleading rip-off, transfer fee becomes cash advance at high interest

Chase Bank
Unfairly jacked up interest rate from 8.9% to 26.24% Ripoff!

Providian Financial
High Interest Rate and Balance Transfer Ripoff

American Express And Delta Sky Miles
Delta Skymiles American Express Ripping Off Consumers

Discover Card
Payments apply to Balance Transfer first, then other charges. This means don't use card after making a balance transfer. They don't tell you this up front. Ripoff