American Express — Extra Charge and Misinformation on Credit Card

Address:

Mumbai City, Maharashtra

I would like to raise a concern and a complaint against American Express Credit Cards. There is apparently a concern being raised with the company which has not been addressed even after rigorous follow ups from my side which has led to missing my monthly bill, late payment and affecting my credit score. The details of the case are as follows I had purchased a product with a cost price of Rs 46, 690 on 31st Aug 2014, with a EMI scheme (sold by american express executive) with 1.25 % interest. I was been informed about the EMI as Rs 5, 592 for 9 months. I have paid all my 8 EMIs to the company and on time. When the last EMI bill got generated the EMI was increased by 410 Rs. On inquiring the company on 18th June 2015, I was told by the executive that the company charges the same for interest adjustments. On checking the calculations of 9 EMIs (5592 * 9 = 50, 328, which is already higher by Rs 3, 638 than the cost price and does not even include the additional 410 Rs which is been billed to me in the last month). I raised this as a concern to the company and asked for the clarifications as to how did 1.25 % interest lead to Rs 4028, which they have not been able to clarify. I have even asked their seniors / experts to call me, for which i have not received any calls. In the interim I have followed up upfrontly from my side (3 times before the next bill been generated) but still nothing has materialised. Every time i receive an answer of will get back to you in 24 hours and no one comes back. In the process I have been charged late payment fee and more importantly my credit score has been affected without any fault of mine. The company's collections team had called me up for the payment and spoke very rudely with me. Even when i requested them to check the background of my case, they didnt listen and blocked my card immediately creating so much of embarrassment. I have tried communicating with them softly without raising my voice or loosing my cool. Even In the last conversation with the executive, I was been requested to make the min payment of Rs 7000 which also I have paid, still they have not been able to come back to me for the resolution. I am not adding up my credit card number here for security reasons, however I am attaching the reference numer of my complaint which is American Express Reference number GC-1539K.