Amex in blind panic

CheeseOnToast

If you dont use the card why is there a need to pay a payment on it?

innovate

CheeseOnToast wrote:

If you dont use the card why is there a need to pay a payment on it?

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

You are so right, Cheese!

YorkshireBoy

Moglex wrote:

Because the last time I missed a payment (because it got lost in the post) I did find out the hard way.

Moglex, your previous methods have caused you to miss two payments, so were possibly the wrong choice.

Moglex wrote:

I've also set up all my cards and bank accounts for internet banking (God knows why I didn't before), so that this will not happen again.

...until you:

* are ill
* have a family crisis
* have to go away on business at short notice
* are on holiday
* do not receive a statement
* simply forget

The best way to pay a credit card bill is surely to give the card supplier the responsibility to collect the payment, ie by direct debit - isn't it?

The statement will tell you the date the DD is to be collected. If it's not on there (for example if it's a new card and hasn't been set up yet), you can then make alternative arrangements.

---lee---

YorkshireBoy wrote:

Moglex, your previous methods have caused you to miss two payments, so were possibly the wrong choice....until you:

* are ill
* have a family crisis
* have to go away on business at short notice
* are on holiday
* do not receive a statement
* simply forget

The best way to pay a credit card bill is surely to give the card supplier the responsibility to collect the payment, ie by direct debit - isn't it?

The statement will tell you the date the DD is to be collected. If it's not on there (for example if it's a new card and hasn't been set up yet), you can then make alternative arrangements.

All very valid points. As we all know, s**t happens.

Moglex

innovate wrote:

Not sure after these posts I understand what the issue is, Moglex - - what point are you trying to make, who is in a blind panic?

The point I was trying to make was that it is ludicrous for Amex to block the card, send two letters and make a phone call within the space of a week, all because a very small payment was missed.

Somebody makes a simple mistake - in this case either them or my bank, and they risk !!!!!! off a customer royally. And to what end? Assuming that it was the customers fault, they would make more in bunce than the missed payment. It's not as if one missed payment is doing them any great harm.

I'm not complaining, or looking for sympathy, or saying that Amex did anything legally or ethically wrong. Just pointing out that their reaction was way OTT and likely to antagonise customers.

I posted it out of amusement, rather than annoyance, and I must say I'm a little surprised at some of the self righteous and holier than thou responses I've got.

Moglex

CheeseOnToast wrote:

If you dont use the card why is there a need to pay a payment on it?

Obviously I did use it. I did my first and only stooze when they offered me a 6 month free BT.

It's just that since the 2001 episode I don't use it for purchases.

So basically, because of their 2001 shenanigans they've lost the oportunity to take their cut of around £400 a month, and only succeeded in lending me some money at 0%.

They are the ones who've lost out, not me.

Rafter

£400 a month at say 2% commission is only £8 in income for them? I'm guessing that you have some sort of cashback deal so that halves it to about £4.

If you are paying over the counter in a branch (the most inefficient form of payment), that probably costs the bank £2. Add to that the cost of statements, plastics, fraud costs and computer systems and they aren't exactly going to be inviting you to the office christmas party as a great customer.

R.

Moglex

YorkshireBoy wrote:

Moglex, your previous methods have caused you to miss two payments, so were possibly the wrong choice...

With an outfit as panicy as Amex, yes. Although in each case, when I told them what happened they reversed the late fee, so again, it seems to me very odd business practice to risk seriously antagonising your customers for nothing.

.until you:

* are ill
* have a family crisis
* have to go away on business at short notice
* are on holiday
* do not receive a statement
* simply forget

The best way to pay a credit card bill is surely to give the card supplier the responsibility to collect the payment, ie by direct debit - isn't it?

Well, I use them for everything else so I'm not exactly against them. If Amex hadn't lost the forms when I first tried to set one up with them, they would be included. They set it up over the phone for me this time, so assuming they don't make any mistakes I'll be covered in future.

BTW, don't be too complacent about direct debits.

A friend of mine had a problem when her bank made a mistake accepting a BACS payment for her salary, and before she was aware of the problem, all the DD's that she'd carefully set up for 5 days after her salary was paid fell due, and the explosion could be seen for miles.

Nonetheless, I think they're the bee's knees. I've got one of those 'safety zone' overdraft facilities to circumvent that problem.

Moglex

Rafter wrote:

£400 a month at say 2% commission is only £8 in income for them? I'm guessing that you have some sort of cashback deal so that halves it to about £4.

If you are paying over the counter in a branch (the most inefficient form of payment), that probably costs the bank £2. Add to that the cost of statements, plastics, fraud costs and computer systems and they aren't exactly going to be inviting you to the office christmas party as a great customer.

Love your attitude

So, are you saying that Amex would prefer to get rid of all their customes who spend £400 a week or less? Because that's what would logically follow from your little analysis above.

Perhaps you've hit the nail on the head there. If a customer doesn't spend £500 a month or more, pays in full each month, let's !!!!!! him off the first chance we get and hope he takes his business somewhere else :rolleyes: