Credit card or prepaid card -- Other features, terms, or problems -- Complaint #6468854

Complaint Overview

Complaint ID: 6468854

Company: American Express Company

Product: Credit card or prepaid card

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

Issue: Other features, terms, or problems

Sub-Issue: Problem with balance transfer

State: Ohio

ZIP Code: 45211

Date Received: 2023-01-21T12:00:00-05:00

Date Sent to Company: 2023-01-21T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I am a senior citizen that was taken advantage of by American Express through a bait and switch from the customer service on the phone. I have a American express blue card for the past year with a 0 % interest rate. I currently have around {$15000.00} on this credit card. The 0 % interest rate ends XX/XX/2023, and on XX/XX/2023 interest rate goes up to 21.9 %. In XXXX I called American Express customer service and explained Im looking to transfer this balance to another 0 % interest rate card and do they have any available. The man told me on the phone that he does see another American Express card with a 0 % annual rate that I could transfer my current American Express card to with a zero dollar transfer fee also. He said I am being recorded and if I accept, he will run my credit to see if I can get the other credit card from American Express so I can transfer my first American Express card to it. He said I am able to transfer {$7500.00} to the new American Express card from my old American Express card. I also have no money to pay for a transfer fee. If it is done from American Express back to another American Express card. And remember this conversation was recorded so I need the FTC to listen to this conversation to verify this!! I told him it was OK to run my credit. He came back and said I got approved for another American Express card so when I receive the card I can then transfer {$7500.00} from the XXXX American Express card to the new American Express card. Yesterday, XX/XX/2023. I received my new American Express card in the mail. Today XX/XX/2023. I called American Express and they said they do not transfer balances from one American express card to another. They said my conversation with the Man did get recorded and the only thing they can do is talk to him about him giving out wrong information to customers. But they can not give me a 0 % interest rate on my current balance, and there is nothing they can do. They will open up an investigation, but nothing will come out of the investigation because they do not do that. Even if American Express customer service gave out the wrong information to me in order for me to get another card from them. My resolution is for American Express to give me a 0 % interest rate on my initial card of {$15000.00} i was looking to transfer since they bait and switched a senior citizen to take advantage of me. They just told me to go to another institution and transfer them out to a new bank. I told them Im not going to do that. It will make my credit score suffer and I should not have to do that since American Express specifically told me what to do. It is not my fault they are giving out wrong information on the phone to senior citizens..

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Disclaimer

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

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