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"Account Protector" from sneaky credit card company
#1
I just got this "offer" from American Express, even though I do not carry a balance with them. They want me to sign up for this service.

Here are the details:


* Helps make payments on your behalf if you experience any of 14 eligible events, including job loss and disability
* Helps keep your enrolled American Express® Card in good financial standing and helps protect your credit score
* Costs 85 cents per $100 of your monthly statement balance


So, what this would do is raise the effective annual interest rate by 10.2%.

I'm sure that Clark Howard has spoken about this scam.


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"Account Protector" from sneaky credit card company - by freeradical - 07-18-2010, 03:04 PM

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