Latest Posts
Home > Tag Archives: american express

Tag Archives: american express

Amex Raises APRs on 1 Million Credit Cards: What You Can Do


More than one million American Express credit card customers are going to see their APRs experience an increase in mid-April, according to a letter sent to affected customers (the timing may be different for you). See why the interest rate hikes are coming, what you can do about it and why it won’t matter for some cardholders. More than 1 ... Read More »

    Can My Credit Card Company Raise My Interest Rate?

    credit card verification

    The recent announcement from American Express that it will raise interest rates for more than 1 million cardholders has a lot of people asking questions, like how this change will affect them or whether or not this could be the start of an industry-wide trend. It’s been a while since credit card issuers were in the headlines for rate hikes ... Read More »

      Costco Says Dumping American Express Was About “Saving Money For Customers”


      (photographybynatalia) Yesterday, American Express announced the impending end of its monogamous relationship with Costco, meaning that not only will AmEx cards no longer be accepted at the popular warehouse store but that co-branded AmEx/Costco credit cards will be useless after March 31, 2016. Now Costco is breaking its silence on the split, saying it was all done in the best ... Read More »

        I’m Retiring with Credit Card Debt I Cannot Afford. – Terri


        “Dear Michael, I will retiring in 2015 and I only owe American express and I can’t pay them since my only source is social security and will be moving to Mexico. I understand they can’t get my social security. Do I still need to file with the courts on this debt? Terri” Dear Terri, Whether or not you have to ... Read More »

          American Express to Pay Millions for Illegal Credit Card Practices


          On Christmas Eve the Consumer Financial Protection Bureau (CFPB) ordered American Express to refund an estimated $59.5 million to more than 335,000 consumers for illegal credit card practices. These practices included unfair billing tactics and deceptive marketing with respect to credit card “add-on products” such as payment protection and credit monitoring. American Express will pay an additional $9.6 million in ... Read More »

            Does Moran Drexen’s Preferred Creditor Program Create a Problem for Consumers?

            old man headache

            Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem may exist here. One commenter ... Read More »

              Morgan Drexen Rumble With CFPB – Update


              Previously covered the suit filed by the debt settlement company Morgan Drexen against the CFPB, here. Today I went to see what, if any, updates there were on the case. Here is the latest: “The Court held two on the record telephone conference calls with the parties on July 24, 2013 and July 25, 2013, during which Plaintiffs consented to ... Read More »

                How Creditors Rate at Helping Consumers Settle Debt


                Michael Bovee, over on his Debt Relief and Credit Guides site has published a very good guide for people about how the major creditors are at providing settlements for problem debt. It’s a really good list and it ranks Chase, Bank of America, Wells Fargo, Discover Card, Citibank, Capital One, and American Express. For example, Bovee revels the best creditor ... Read More »

                  Debt Relief Bureau Logo But Not the Debt Relief Bureau in This Mailer

                  Screen Shot 2013-07-29 at 5.05.45 PM

                  When if the Debt Relief Bureau, not the Debt Relief Bureau? When you get a flyer in the mail from an anonymous source promising you help to get out of debt. An amazing reader Tish sent in a new debt relief mailer through my I Buy Junk Mail program. Well here is another anonymous mailer sent to a consumer that ... Read More »

                    American Express Says They Will Issued 1099-C Personally on Corporate Card. – Roger

                    credit card verification

                    “Dear Steve, I have a client that has a business card with American Express. It was totally used for business, a corporation. His business is in really bad shape. He, however, is the guarantor of the card. He would like to do a settlement however Amex says they will have to issue him a 1099C individually. My client protests as ... Read More »

                      American Express Closed My Account. I’m Not Happy, They’re Not Happy. – Adam

                      Financing a budget

                      “Dear Steve, Applied for an American Express gold card and qualified received my gold card all was well. Used the gold card on a credit card terminal in my name under my business (did not know this was illegal or against their policies and I was not doing it for illegal reasons) they closed my account immediately. I then explained ... Read More »

                        Amex is Refusing My Settlement Offer. What Now? – Jenie

                        credit card verification

                        “Dear Steve, Amex balance of $15,000. Originally, my monthly payments were $400 and then out of nowhere, they closed my account, but funny how my statements always reflected “open spending account”. A few months later, they raised my interest rate. I stopped paying because the payment was too high. I have been summoned, and called their attorney last week, and ... Read More »

                          Husband Had Cancer and American Express Won’t Help Me With Reduced Payments

                          Ready to Collapse

                          “Dear Steve, I lost my job 2 years ago and have been searching for one ever since. I am 63 years old and have spent my whole working life in a management position. Now, if I get an interview, they say you are over qualified. In other words I am too old. So for the past two years we have ... Read More »

                            American Express Didn’t Show Up for the Court Date. What Now? – Kate

                            Ready to Collapse

                            “Dear Steve, American Express is suing my friend that had a lot of medical problems and couldn’t pay his bills. He sent them a letter explaining this and got the court date changed. On the day of the court date, my friend slept through the court date but was notified that American Express didn’t show up either and they haven’t ... Read More »

                              I’m Worried About Filing a Chapter 13 Bankruptcy Because of My American Express Card. – Lisa

                              Ready to Collapse

                              Laid off during a kitchen remodel three years ago, had to finish with credit card payments, but finally the payments are too much for the budget I wrote earlier about too much unsecured debt ($65, 000) because of a lay-off and how it is taking over our life. Your answer mentioned chapter 13 bankruptcy, but I am hesitant to go ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.


                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.