just want to vent out my disappointment with amex. i've been an outstanding holder (no late payments and paid full amount days prior to due date) since 2005. although i dont have pre set credit limit, i have to pay the bill in full, which i did with no complaints.
last week, i was going to make a purchase but the merchant told me that there's a problem with the card. i didn't think anything of it until 5 days later, i get a letter from amex, telling me they suspended my card. they based it on my derogratory reports (i admit my credit report hasn't been good because of the economy right now). although devastated with the letter, i completely understood amex' decision.
i have a $500 balance on my account which is due on oct 2. i called amex if i could extend it to oct 15 since the card has been canceled anyway (this is my very first time to make such request). they said sure BUT i will be charged a late fee! i calmly asked them if they can waive the late fee because i don't want my already BAD credit to get another report of me paying late. my reason for my request was i would pay my other bills which are also due on the 2nd and pay the full $500 on the 15th of october. the supervisor told me: IT IS OUR POLICY TO CHARGE LATE FEES WHETHER OR NOT YOUR SERVICE IS CANCELED!
just wanted to share my frustrations with you guys