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American Express (AMEX) commits fraud and will harm your business

AMEX (AXP) is a liar and/or incompetent

Folks, I do not get personal with our business on here lightly. I am here to warn you about the danger of American Express as a credit vendor, and their fraudulent activities. If you have them, try to pay them off and close the account, and you will find out just how skeevy their company is.  This was for our company account.

  • They will stack up charges that they do not put on your statements
  • When you pay those down they will suddenly post them, and the interest seems out of place.
  • If you set a limit, they will allow these types of charges to surpass the limit (this is why we initially closed the account. When we paid it off, mysteriously thousands more charges appeared on the card.
  • We closed the account on May 21, 2018  by asking for a “Final Payoff Amount.” We were provided that number by their customer service representative. That was the number paid down: $1,842.92 At that time they ceased to send us bills.
  • Two months later we receive a call about over-charges. They claim there were MORE outstanding (after 2x pay-down) charges coming in. They assessed interest on the closed account and late fees.
  • We asked for a FINAL PAY-DOWN AMOUNT and CLOSED THE ACCOUNT again on August 14, 2018 when we paid $286.12
  • This month we received a notification of 2 months overdue on interest of $4.23!!
  • After (heated) time on the phone they insist on payment for interest on the interest on the late fee assessed after the 2x FINAL PAY-DOWN AMOUNT was provided by their company.  The Balance approached $100, mostly in late fees for charges we were not notified about because we had TWICE closed the account!!

At this time they are insisting we pay for the late fee as well… when you can – by LOGIC – not be late for paying for the account to be paid off, twice. We paid well before July, and asked for any and all balances to be totaled.  $46.20

UNICORNS AND PIXIES! They are inventing charges to ring us up, and not contacting us in time.

I am ruling out incompetence alone. This is pure unadulterated FRAUD. And I ask you to help spread the word and warn about this malicious, predatory company that is charges small business owners hidden (literally) fees.

Don’t let your friends, families, businesses, and friends/family businesses get inveigled by such a fraudulent company. And if you use them currently my strong advice is to close them down, and fight hard to see every hidden charge they are undoubtedly putting on your statements (or not!)
Thanks for your continued support, and patronage!

-Sf. Ramon Careaga, owner

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1200 Versailles Rd, Lexington, KY 40508