Credit card or prepaid card -- Fees or interest -- Complaint #4767899
Complaint Overview
Complaint ID: 4767899
Company: American Express Company
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Unexpected increase in interest rate
State: Georgia
ZIP Code: 30350
Date Received: 2021-09-30T12:00:00-05:00
Date Sent to Company: 2021-09-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We are in the midst of a pandemic. And, American Express just notified me that my interest rate will be changing to 18.99 % from 13.24 % even though my payment habits have not changed, I make payments in excess of the minimum due, I have never been late and my financial situation has not changed. This increase is not a nominal amount. It represents an increase of over 43 %. During the midst of a pandemic and given interest rates are hovering at ZERO for American Express, I am quite appalled that an interest rate would be increased by over 43 % when nothing about their customer has changed. I contacted American Express who told me my account is being realigned to what others in my credit score range are paying. This is an extremely narrow range of criteria considering I have been an account holder since 1996. I won't be using the card any longer. I am reporting this complaint and will also be voicing my dissatisfaction through social media. The actions taken by American Express against customers in good standing during the midst of a pandemic is nothing short of disgusting greed.
Frequently Asked Questions
What is Complaint #4767899 about?
Complaint #4767899 was filed against American Express Company regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2021-09-30T12:00:00-05:00.
How did American Express Company respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against American Express Company?
Yes, visit the American Express Company company profile at readthecomplaint.com/company/american-express-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.