Changes Come to American Express Cardholders

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Within the past couple of months, there have been many changes by almost every major credit card issuers. Besides raising interest rates and lowering credit limits we have seen issuers such as JP Morgan (Chase) and Bank of America change their portfolio of fixed interest rate cards to having a variable interest rate. Now it seems that American Express will make a couple of changes to their most popular line of credit cards.

 

Recently, American Express started sending out notices to cardholders that will without a doubt cause an uproar. The notices sent, informed cardholders that those credit cards that make up the “Blue” line will have a change to their rewards program. Starting in September, those who have accumulated rewards will no longer be able to access those rewards if the monthly payment is received late. However, for a fee around thirty dollars (per each lost month) the rewards can be reinstated when the account is returned to good standing.

 

Although these changes will be new to American Express Cardholders that use a credit card from the “Blue” line, this is nothing new to American Express. Their charge cards, which include the green and gold cards, already have cardholder agreements stating reward points are forfeited upon late payment.