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Amex & RMA
gree0115
Posts: 32 Forumite
Dear All,
I am on a DMP with the CCCS coming up to a year next month (3 more to go!) All going well so far.
Recently I received a statement from Amex for my gold credit card. These had stopped since starting the DMP. I also received another statement this week and it asks for full payment by the due date.
I also noticed on my CCCS statement that payments which had been marked as RMA were now showing as American Express again.
When I contacted CCCS they said that Amex had requested payments be made to them again rather than RMA. I think RMA seem to manage the debt of behalf of Amex rather than buying it.
I'm intending write to Amex anyway as they are still charging me interest and of my £130 per month payment £126 is going on interest. When I spoke to RMA last month they said that Amex had now frozen interest, but the statement I have received this week from Amex indicates that they haven't. The initial debt of £7800 has risen because of these interest charges and I'm annoyed that I've paid almost £1560 over the year and only £48 has been used to clear the debt. At this rate it's gonna take me nearly 163 years to clear the Amex debt if they are charging full interest.
Has onyone else had any experiences of Amex and RMA?
My other debt ie the one for Egg was sold on and there is no interest charged on this as it is being managed by another DM company. Amex seem to be able to get away with charging interest as RMA seem to "manage it" on their behalf? Altho' now they seem to have taken in back in house, the monthly statements starting again seem to indicate this. I haven't yet contacted Amex. All very strange.
Cheers,
David
I am on a DMP with the CCCS coming up to a year next month (3 more to go!) All going well so far.
Recently I received a statement from Amex for my gold credit card. These had stopped since starting the DMP. I also received another statement this week and it asks for full payment by the due date.
I also noticed on my CCCS statement that payments which had been marked as RMA were now showing as American Express again.
When I contacted CCCS they said that Amex had requested payments be made to them again rather than RMA. I think RMA seem to manage the debt of behalf of Amex rather than buying it.
I'm intending write to Amex anyway as they are still charging me interest and of my £130 per month payment £126 is going on interest. When I spoke to RMA last month they said that Amex had now frozen interest, but the statement I have received this week from Amex indicates that they haven't. The initial debt of £7800 has risen because of these interest charges and I'm annoyed that I've paid almost £1560 over the year and only £48 has been used to clear the debt. At this rate it's gonna take me nearly 163 years to clear the Amex debt if they are charging full interest.
Has onyone else had any experiences of Amex and RMA?
My other debt ie the one for Egg was sold on and there is no interest charged on this as it is being managed by another DM company. Amex seem to be able to get away with charging interest as RMA seem to "manage it" on their behalf? Altho' now they seem to have taken in back in house, the monthly statements starting again seem to indicate this. I haven't yet contacted Amex. All very strange.
Cheers,
David
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