The Class Action
Direct link to settlement website
- If you had an American Express card issued by American Express Centurion Bank or American Express Bank, FSB with a fixed interest rate and you received notice of an increase in the rate, or a change to a variable rate, between October 1, 2005 and December 31, 2010, then you might be eligible for a settlement from American Express.
The Fine Print
- Only applies to cards issued by American Express, not cards running on the American Express payment work
- Settlement pool is $6,000,000
- Court still needs to approve the settlement
Our Verdict
As always the amount of money you’ll actually receive from this settlement will dependent on how many claimants there are, you’re also waiving your right to sue American Express by accepting this settlement or by not opting out. Additional class action settlements that we’ve covered can be viewed here. If you’re new to class actions I’d recommend reading this first.
Hat tip to Class Action Rebates
View Comments (11)
I have a Macy's AMEX card, do these qualify for the class action suit, recently again they're changing playing games with fees & charges
Got 117.xx payment today. thanks!
same here. looks like we all got the same amounts and it was sent out all same time.
My wife and I both got the same amount today ($117.xx) each.
Nice!
Is there a list of product that qualifies? I personally never paid any attention to the APR notice.
I have/had six cards that could qualify including Delta and a Business card. Is it one claim per customer or do you have to submit multiple claims if you have more than one card?
Multiple claims I believe, but check the claim form as I haven't submitted mine yet.
i only have one card that is old enough to be affected by this, and i'm currently reuqesting statements from years back to see if they jacked my APR. Otherwise...
The fact that you have to list the Acct # (last 5 digits) makes it seem like this might tamp down the number of applicants.
Need to have carried a balance.
This is how I am reading the qualifications. You need to have a balance due on the card... i.e. you actually used the card during the period when they increased the rate. You don't need to have an overdue balance -- where they actually charged you interest. So you should qualify if you use the card and pay you bills on time.