AMEXAT19 wrote:Luvbullmarkets, I could simply pay the full balance of roughly $2500 but I feel like I should get something for my money such as regaining membership and plus I lost a lot of MR point (23,000) so lots of sky miles...
CarefulBuilder14, AMEX sold my debt to FSA, originally I settled with FSA for less than half and then decided not to proceed,
I only erased words but I'm curious why you feel entitled especially since you not only backed out of your word not once (credit card agreement being one) and than again when you spoke with FSA to settle
Do you own your own business? As a business owner it would suck to have to deliver goods without getting payment first but than later to find out you won't be getting it at all because the customer took on more than they could handle
You basically borrowed from Amex and didn't bother to pay back per agreement and like most credit cards you have about a month of enjoying the goods at no extra charge to you; and in turn Amex gets the payment processing fee and passes some of that off back to you in the form of rewards
So if you were late for so long; unless you want to pay back the principal AND the interest collected on it till the day it's completely paid off (not just the interest collected up until the point of when you decided to let it go derog) and any late fees
Than I guess they can give you back those MR points as a goodwill gesture.
Before you go and say they're big enough to suck it; which is probably true at this point..if they let everyone get away with this they're probably going to run themselves into the ground real soon. They're still going to pay themselves (the execs) as much as they currently get and get the pay raises but if they take enough hit, they'll probably plug the holes people think they don't know of or further reduce rewards/raise annual fees