07-18-2010, 03:04 PM
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.
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.
