American Express Card losing credibility

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Received this American Express Gold card offer via snail mail today. I dumped them 4 years ago because so many merchants in south eastern New Mexico do not accept Amex due to their high transaction fees and their slowness to pay off their merchant  account balances.

It is well known that American Express will hold the money they owe merchants a few extra days in order to earn extra interest income on money that is not theirs to invest! This practice has to legally be theft. Amex does this because the interest earned on even an extra day of all the money they owe their merchants is quite a large sum.

In the mail solicitation you see below, Amex offers 25,000 points if cardholder makes $1000 in qualified or eligible purchases during first three months of membership. They also will waive the egregiously high $175 annual membership fee the first year. I would consider getting this Gold card if they would replace qualified purchases with any purchase since I don’t want to hassle with what constitutes a qualified purchase.

Amex gold card offer
Amex Gold Card Offer

 

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1 comment on “American Express Card losing credibilityAdd yours →

  1. I also got a snail mail promotion for Platinum Card which included receiving 100,000 Membership Reward Points if I spent $3,000 within the first 90 days of using the Platinum Card. Fast Forward…. I NEVER got the 100,000 points after spending well over $3000 well within the 90 days in qualified purchases after canceling my Gold Card!! I have been on the phone with multiple “friendly” reps none of which can find any record that American Express even made The 100,000 point offer!! I scanned the promotion and sent it to them and they still denied it was ever mailed to me.
    Has anybody else had this happen? I am prepared to do the leg work to initiate class action lawsuit against Amex. Please comment if you are even faintly interested. This BS and deception has to Stop. I’ve been an Amex cardholder for over 10 years.

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