AmEx Sux

Yes they do. AmexSux.com tells the story better than I do. All I can add is that over the 5-6 month period we had an AmEx card they displayed an amazing inability to provide even a moderate level of knowledgible support, an inability to fix problems they created and a strong desire to focus on blame rather than solutions.

We are still trying to resolve 4 issues with them. Caught in their blame game, I finally gave up and methodically showed them how 3 of the issues are clearly their "fault." Amazinngly, after admitting fault (apparently there are some known bugs in AmEx's reconciliation systems) they refused to correct the issues saying "it's no big deal, it only has a minor impact on your credit rating". In addition to being hypocritical it also is a bit disconcerting to realize that a company won't correct it's mistakes even when it admits to them.

Updated: One of the issues was a supposed late payment. According to AmEx's records, we made no payment during the January billing cycle of '06. However, I was able to show that in fact we had paid by using our bank records. This shows the actual date AmEx recieved their money. The payment was supposedly a day late eventhough the bank statement clearly shows the money was settled with AmEx prior to the due date. Their response was that when their online system settles with their primary accounting system there can be a discrepency of up to 48 hours between when the actual payment was processed and the date posted for that payment on the backend.

To be clear, this is not the 24-48 hour timeframe it may take to withdraw funds after setting up an online payment (that's another issue). This is a discrepency between when the payment is actually processed and withdrawn from the customers bank account and the date for which you are credited for that payment.

Oh, and eventhough it's a known issue and they actually did recieve the payment before the due date they refused to fix it because "it was no big deal".

Given AmEx's history (see here for an example) I can't help but wonder if this is one of those bugs that just conveniently allows them to collect fines and increase interest rates without most people being aware. Given the history and extensive number of class actions and fines AmEx has paid for these types of things my personal opinion is that they have at some level concluded that they will make more money by playing games and paying fines when they get caught. I don't see any reason to give them the benefit of the doubt.

Update 2:
Just for reference the other 2 issues are:
Sending us past due notices for $0. That's right, $0. So we are being reported for being past due $0 on our credit report. How exactly do we pay $0? Apparently we need to get them $0 right away. This one baffled them too. I was advised not to worry about it. It'll "go away". I am skeptical.

Paying us 30 days late on credit card settlements to our merchant account. Which is ironic isn't it? I wouldn't be surprised if I get a letter cancelling our merchant account over fictional chargebacks.