Consumer complaint received 2025-10-24 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: AMERICAN EXPRESS COMPANY
State: KS

Complaint narrative:
I have an American Express platinum card and a XXXX credit card. I have had these cards for many years. On XXXX XX/XX/XXXX, I entered XXXX XXXX with the XXXX XXXX and I remain on XXXX XXXX today. Starting in XX/XX/XXXX, I requested XXXX be applied to my credit card accounts and provided American Express with a copy of my military orders. American Express did not properly adjust my interest rate. My interest rate is 25 %. In XX/XX/XXXX, I made my first complaint with the CFPB. In response, AMEX provided me a credit on my account of approximately {$750.00} for excessive interest charges. Recently, I noticed that my interest rate is still set at 25 %. This exceeds 6 %, which is what is required under federal law. I called American Express today, and was told by their customer service team that they have been denying XXXX benefits on my account even though I had these credit cards when I accessed onto XXXX XXXX and my platinum card had a balance on that date. They alleged that I did not qualify for XXXX XXXX because I have made purchases with my card after XXXX XX/XX/XXXX, and that the interest rate on those purchases would not be lowered to the XXXX rate. I then made a request for information from American Express to identify the specific days that my account qualified for the XXXX benefits of below 6 %. I was not eligible for a reduced interest rate before XXXX XX/XX/XXXX, when I entered XXXX XXXX. According to American Express, I am not eligible for XXXX benefits afterwards either. I was required to pay my credit card bill in XXXX, XXXX, XXXX, etc. This is required under the card member agreement. If we pay our credit cards, then the purchases we made before our XXXX XXXX start date will be paid off within a billing cycle or XXXX. What days then will service members receive the appropriate interest rate under XXXXXX/XX/XXXX Basically never according to Amex. American Express is misinterpreting federal law in a manner that creates absurdity and does not meet the purpose and intent of that statute. The SCRA was enacted to ensure that XXXX XXXX service members are not hampered by excessive financial obligations during their service in order to focus on the important mission of national security. I qualify for XXXX benefits on my account because I have notified American Express that I entered XXXX XXXX on XXXX XX/XX/XXXX and I remain on XXXX XXXX in a voluntary indefinite status AND I had these lines of credit PRIOR TO my XXXX XXXX start date. For American Express to deny me the XXXX benefits and apply this interpretation means that basically no XXXX XXXX service members will receive an interest rate below 6 %, even if they have these credit cards prior to entering XXXX XXXX. American Express has interpreted the XXXX statute in a manner where it would never apply for any service members. They have arbitrarily created start and stop windows for when the interest rate applies divorced from federal regulations and the military protections under federal law. American Express did not previously interpret XXXX in this manner. Their new interpretation, while creative, is unlawful and designed to force XXXX XXXX service members to pay excessive interest charges for cards they possessed prior to their XXXX XXXX start date.

Company response to consumer: Closed with explanation