Monday, October 1, 2012

American Express to pay customers it over charged

American Express has said that it is going to pay out more than $85 million to customers that were charged late fees illegally.  Brendan Spaar is not sure how a late fee could be applied illegally but apparently they were.  More curious is that American Express is also hit with false promises of money rewards that never materialized and discriminating against applicants over the age of 35.  I had to read that second part twice because I always thought that this card was for people over the age of 35.  I am 31 years old and do not own an American Express because I am not in the financial capacity to spend enough to make up for the $75 a year charge to possess the card.  American Express isn't the only credit card company in hot water right now.  Earlier this year Discover and Capital One had to pay up.  Chase hasn't been hit yet so when someone asks me "what's in your wallet?" I can honestly say that it's not one of the Big Bad 3...


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