American Express Balance Transfer NOT

American_Express_NOT

Having read the article on the posted newsletter l applied for an American Express Card so that l could transfer my balance at a fixed rate for however long l had an outstanding balance.

On the card application they ask how much you want to transfer,and behold a few days later l received a letter saying l had been accepted andthat the balance transfer is being dealt with! According to the letter it should take 30 days.

Then l received the credit card with a letter telling me that l had a balance of £1800. I presumed that the remainder of the amount l had asked for in my balance transfer application had already been taken in to account, and the £1800 was the amount up to my limit. Yes l know!

A few days later l received a letter saying that the balance transfer was above my limit and was declined, but l could however spend the £1800.

Having spoken to a collegue at work, he had the exact same dealings with American Express. His letters from American Express were delivered in the exact same sequence.

I called American Express and spoke to one of their operators, who told me that he wasnt surprised, and intimated that he had received similar calls that day. He said that l could take it up with American Express, but l would have to write in.

Maybe American Express are using the balance transfer scenario to get new customers without ever giving the fixed rate on balance transfers. The law of averages are that even if some people used the card to buy goods, then the company has gained?

What do you think, has anybody had a similar problem?

magentadreamer

Never had a problem with my LOB, gave me more than enough credit to cover the BT . Perhaps you should check your CRA files to see why you got such a low limit

American_Express_NOT

Thanks for the prompt reply. I have since checked with the credit agencies and everything is OK. Since then l have taken out a loan with my building society to pay of my outstanding balance.

moneyuser

I got mine about 2 weeks ago, no problems here, balance transfer went through in about 7 business days. I have found them most helpful