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Order: American Express is responsible for compensating customers for illegal practices


As a result of today’s order, American Express must repay an estimated $85 million to approximately 250,000 consumers. American Express will return the money directly into the accounts of the affected consumers. If the consumer no longer holds the American Express card, American Express will mail a check or credit any outstanding balance.

  • Customers who were promised $300 for signing up for a Blue Sky Credit Card will get the $300.
  • Consumers who paid an illegal late fee will be reimbursed, with interest.
  • Consumers who paid old debt in response to deceptive promises to report payment to credit bureaus will be reimbursed the money they paid plus interest.
  • Consumers who were promised their debt would be forgiven but were denied new American Express cards because the debt was not really forgiven, will receive $100 and a pre-approved offer for a new card with terms we and the FDIC find acceptable. If the consumer already paid the waived or forgiven amount in order to get a new card, they will be refunded that amount plus interest.

Consumers are not required to take any action to receive their credit or check.

If you are one of the consumers affected by the order, American Express will notify you directly. They are responsible for notifying any affected consumers – any other entity that offers to help reclaim your money is likely a scam.

  • gregory

    if they weren’t even reporting to the credit bureaus, and being deceptive in general ,then how can wee expect to receive any money owed
    to us that no longer have accounts with them?

    • Bernadette Burns

      Exactly, I closed my account with them a few years back with indiscriminate charges. How could they pay me if I moved?
      how will they able to find me?

      • Jennifer

        I have the same question. I have moved out of state since having my account closed. How will they find us? Does anyone know?

  • Charlene Schatra

    My thoughts exactly Gregory!!! We should be able to put a claim into AMEX to get our money back!!!

  • Sean

    That’s was a long time ago, I doubt they have my current address or phone number.

  • Anonymous

    I am an American Express credit card customer. AE overcharges customers with high interest rates and refuses to lower the interest rate. The same with Capital One, Chase, Sears, Office Depot. These banks borrow at 0% from the Federal Reserve and then gouge credit card customers with exorbitant interest rates on credit cards. I have filed a complaint with the Consumer Financial Protection Board but so far they have done nothing about having these credit cards bring down interest rates to a minimal when these banks go into the Fed for free money. AE and other investment banks should never have been allowed to borrow from the Fed. But Clinton and Rubin broke the Glass Steagall Act and allowed the investment banks to be like regular banks. That is the reason for the housing bust, in which investment banks and regular banks thought they were in Las Vegas and gambled with securitized loans, many loans that would never pay off. Yet no one ever went to jail for this manipulation of securities and corruption. Obama let them off the hook.

    • collectivethought

      While your accusations are probably true, lets not use the Presidents as our scapegoats, but think of this as a systemic crisis. Finger pointing for ones own political gain does not solve our problems. As voters, we really need to look at the core issues, which are the policies and laws that, we as citizens, complacently allow to be passed.

      • Anonymous

        The President saved the banks. The President saved GM. The President threw out billions of dollars for his friends on solar projects. But the President never tried to do anything for people with credit cards. He allowed banks who issue credit cards to gouge credit card customers. It is about time you stopped being apologitic for this President. He should go back to community organizing. He does not know how to run a country. Money for the 1% but not for the 99%. Don’t lecture me about this President.

        • franallad

          If you don’t want to pay the high interest rates then pay your bill every month. You are the only person to blame for your debt. The President did not force you to consume beyond your means.

        • Anonymous

          The “exorbitant interest rates on credit cards” that you pay is a result of the fact that a credit card is UNSECURED. Let’s assume 10% of people (all with the same balance) don’t pay their credit card and a bank is forced to write off these loans. If they charged 10%, they would not be making any money. It’s the cost of credit.

          If you want a lower rate, don’t use your credit card. Get a home equity loan (assuming you have equity in your home). Or better yet, as the person below says, pay off your balance.

    • SSimon

      No, it was Bush and Paulson that left them off the hook. Check the timeline.

  • val

    And we all know there certainly wasn’t a president between Clinton and Obama.

  • CD

    I have moved twice after I cancelled card. How do i make a claim? Had those mentioned calls when i fell behind after layoff

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