Credit card -- Fees or interest -- Complaint #11772617

Complaint Overview

Complaint ID: 11772617

Company: American Express Company

Product: Credit card

Sub-Product: General-purpose credit card or charge card

Issue: Fees or interest

Sub-Issue: Charged too much interest

State: Florida

ZIP Code: 33411

Date Received: 2025-01-22T12:00:00-05:00

Date Sent to Company: 2025-01-22T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I have a credit card with Amex that had a promotional interest rate of 0 % and was wasnt slated to end until some time in XX/XX/XXXX. I was making a payment and the payment was rejected because of insufficient funds. I reached out to Amex on XX/XX/XXXX to ask about a refund on the XXXX fee. The agent was helpful and informed me that the charge was reversed. They made no mention that because of this returned payment that I would be losing my promotional rate, but more importantly, I was going to be charged interest. The interest charge was XXXX. I spoke to someone else from Amex who was able to reinstate the promotional rate and said that I would be hearing back from someone about the interest rate charge. After hearing nothing from them I followed up and the agent told me that the request was submitted and to wait an additional 3-5 business days. I then reached out on XX/XX/XXXX and was told that there was no request and there was no consideration for interest waivers. I then told them that I would consider not using their cards as a form of recuperating my cost back. The agent then told the system that I was inactive and to end the conversation. I spoke to another agent that same day and they were polite but now they were able to instantly provide me with an answer on my interest request. This all does not make sense. Agents are inconsistent in their responses and expected wait times and I as the consumer am being mismanaged by a company that prides itself on superior customer experience. The idea that the original agent who is well aware of how their terms and conditions work didn't take but a few extra seconds to let me know about what could/would happen with my account is predatory in my opinion. Even if a customer reads all the conditions, they are unlikely to recall everything. Also, since I was able to have that interest reinstated that means that if they would have informed me during my initial contact I would have had time to get the interest reinstated and not have been charged the interest. On top of that they label the charge as " Interest on Promotional Balance ''. Well, if the promotion is still active, would that not mean that the interest would be as well? Again, this prays on consumers trusting the company they do business with and taking advantage of timelines we would be unaware of. I would like the interest charge of XXXX be reversed and that I be given the opportunity to pay off the balance with at least a months time. The promotional interest rate is secondary to the interest that was charged. This resolution would be sufficient, however, it would be unfair as it does not place any blame on Amex. The labeling of the charges and the fact that they could have informed me prior to the interest charge means this all could have been avoided.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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