I recently received a letter from American express . I've been a customer for over 10 years... In that time I've never been late on payments and have an American express blue card. The apr was great at 9.99%. What I got in the letter is the reason why I will never do business again with American express. They wrote to inform me that they would be increasing my apr to 14.99%...and the reason is amusing. Because most cards are charging similar interest on accounts...that is why they're increasing my apr...not because of anything I've done to adversely effect my credit...just because other cards are charging the same. I will never use your cards again! I'm going to cash out my rewards points, pay off my cards, and do everything in my power to make sure no one I know ever signs up with your company. I work for a financial institution and believe me my clients will all hear about this and I will advise them against using your car many for their personal or business needs.
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