snip~
The credit card company will now charge its customers as much as $38 if they are late on more than one payment in a six-month period. American Express if the first major credit card issuer to take advantage of the federal government's new rules on allowable limits for late fees.

more @
http://www.cnbc.com/2016/11/25/amex-raises-its-fee-for-late-payments-report.html?__source=xfinity|mod&par=xfinity

Quote from: walkstall on November 28, 2016, 02:41:47 PM

snip~
The credit card company will now charge its customers as much as $38 if they are late on more than one payment in a six-month period. American Express if the first major credit card issuer to take advantage of the federal government's new rules on allowable limits for late fees.

more @
http://www.cnbc.com/2016/11/25/amex-raises-its-fee-for-late-payments-report.html?__source=xfinity|mod&par=xfinity

AMEX takes advantage of every opportunity to pad their bottom line. I had an AMEX card once as a company credit card. I was surprised how many merchants, etc; would not accept an AMEX card. I figured their % charge to these companies was excessive. I believe they offer companies sweet kickback fees to use their card and then recoup by charging the merchants who accept them more.

Interesting, they made half as much last year in fees than they did in 2009? So instead of acknowledging the actual problem of the Marxists damaged economy, they turn to Congress to change the law?
Something is very wrong with a crony industry when they institute the assistance of govt for a bigger club to squeeze their customers in this leech/host symbiotic relationship.

Amex is only the first to give their customers the finger, the rest will follow quickly.

Quote from: supsalemgr on November 29, 2016, 04:33:05 AM
AMEX takes advantage of every opportunity to pad their bottom line. I had an AMEX card once as a company credit card. I was surprised how many merchants, etc; would not accept an AMEX card. I figured their % charge to these companies was excessive. I believe they offer companies sweet kickback fees to use their card and then recoup by charging the merchants who accept them more.

The merchants just pass it on to other paying customers.   Just like b o care. 

Quote from: Solar on November 29, 2016, 06:00:43 AM
Interesting, they made half as much last year in fees than they did in 2009? So instead of acknowledging the actual problem of the Marxists damaged economy, they turn to Congress to change the law?
Something is very wrong with a crony industry when they institute the assistance of govt for a bigger club to squeeze their customers in this leech/host symbiotic relationship.

Amex is only the first to give their customers the finger, the rest will follow quickly.

I must get 40 credit cards applications a year in the mail if not more.  Your have instant approval for XXXXXXXXXX.  No shit, I don't use credit cards.  (don't spend money you don't have)

Quote from: walkstall on November 29, 2016, 07:16:24 AM
I must get 40 credit cards applications a year in the mail if not more.  Your have instant approval for XXXXXXXXXX.  No shit, I don't use credit cards.  (don't spend money you don't have)

I too get a ton, some I've never even heard of. What's funny is, I don't even have credit, like that of a newborn, they don't even have a record of me, so I'd actually have to create credit, like buying jewelry of buying to useless marked up piece of crap like a used car at 24% APR.
It's why I never worry about identity theft, they'd first have build up my credit, at which point I could ruin what they worked so hard for.

Haven't been late with a payment in a very long time, knock on wood. Tomorrow I make the last payment on the last outstanding charge account balance. Now I have to explore a new way to run my finances. Working with a positive cash flow instead of negative. Like others, I have little interest in running up debt unless I receive no interest offers where I get to use other peoples money without charge. Still use some charge cards where I find advantages in their use but the balance is paid off at first billing.

Quote from: Possumpoint on November 29, 2016, 09:55:52 AM
Haven't been late with a payment in a very long time, knock on wood. Tomorrow I make the last payment on the last outstanding charge account balance. Now I have to explore a new way to run my finances. Working with a positive cash flow instead of negative. Like others, I have little interest in running up debt unless I receive no interest offers where I get to use other peoples money without charge. Still use some charge cards where I find advantages in their use but the balance is paid off at first billing.

IF your going to have a charge cards PP that the only way to do it.  But most people will not or can not do that even part of the time.  Most people in this day and age want it right now.  My dad always said the only thing you should get help with is buying a house.  He said you can drive an old cars until you can pay cash for a new one.

Quote from: Possumpoint on November 29, 2016, 09:55:52 AM
Haven't been late with a payment in a very long time, knock on wood. Tomorrow I make the last payment on the last outstanding charge account balance. Now I have to explore a new way to run my finances. Working with a positive cash flow instead of negative. Like others, I have little interest in running up debt unless I receive no interest offers where I get to use other peoples money without charge. Still use some charge cards where I find advantages in their use but the balance is paid off at first billing.

Congrats, it's a great feeling, not to be beholding to anyone.

Quote from: Solar on November 29, 2016, 12:43:30 PM
Congrats, it's a great feeling, not to be beholding to anyone.

Thanks, yes it is.

Quote from: supsalemgr on November 29, 2016, 04:33:05 AM
AMEX takes advantage of every opportunity to pad their bottom line. I had an AMEX card once as a company credit card. I was surprised how many merchants, etc; would not accept an AMEX card. I figured their % charge to these companies was excessive. I believe they offer companies sweet kickback fees to use their card and then recoup by charging the merchants who accept them more.

Yup, I have one of those AMEX corporate cards, they don't even let out a peep when I use it for personal use, just so I pay it on time.

ZERO % interest, late or not, still 0%.