American Express
Interest Rate Raised, Penalties Added and Agreement Not Put in Writing

My son had to run up a large balance due to being unemployed. They kept raising the interest rate which caused an over limit balance; then they kept charging all kinds of penalties for being over limit, which kept getting worse, as they added tremendous amts. every month.

It became impossible to meet the due amts; they refused to listen; I enlisted the help of a pro bono lawyer. After providing with a POA, he finally got them to agree to 6 months of no interest and then it should revert to only 9 percent interest instead of the approx. 30 or more % they charge. They would never put it in writing as promised. He tried to talk to them again. They said his POA had expired, so we got a new one.

Then they refused to talk to him. No legitimate reason. They keep lying to me. They also charged late fee after the agreement was in effect, when the pmt. was not late.

The lawyer asked them to settle the acct. with a lower balance and told them I would pay it off. They refused, stating it was an Amex card obtained thru Costco.
Most of the charges were not from Costco and this shouldn't have had anything to do with it. They will not talk to him and are very deceptive and I still have nothing in writing to show what they stated about the 9 percent interest when the 6 months are up. I'm afraid they will then continue their crooked methods of all sorts of penalties, causing the balance to go higher and higher so that I can never get it paid off.

The lawyer said this was the worst entity he had ever dealt with in all his years in practice.

I want to know, first of all, if there is any way I can make them accept a settlement of a lower amt. than the almost $10K balance and make them also put their agreement in writing.

Company: American Express
Country: USA
State: Texas
City: El Paso
Address: P.O. Box 981535
Phone: 8882461076

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