I need to know how bad of a pickle I am in here. I sent a payment to American Express last week. Today I got notice from my bank that it bounced due to the bank's opting to put a hold on a check I deposited from a client. Prior to this, I have had the AmEx card for one year and I made one late payment last March. It was one day late, but I have really been paying for it ever since. My card gets "referred" a lot, and when I call they always mention that I made that one late payment a few months ago. Naturally since then I have been trying to have a perfect payment record with them. Once when I called I asked the guy how long this late payment was going to "haunt" me, and he said about five months. Well, that would be right about now, but now this has happened! So here is my question for anyone who may know the answer or may have experienced this. Is this NSF check going to affect me as badly as if I had made a late payment? Is it worse than a late payment? I can cover the check immediately (all I have to do is get the funds from another account). Also, if it would help, I can send them a copy of the notice I got from my bank that the deposit I made was being held, so it should show them that it wasn't an intentional NSF. I am just really, really upset that this happened and I want to know how badly I have now screwed up my relationship with AmEx.
Usually a check will be submitted twice (2x) before it is returned. If you get a notice (first notice) from your bank, and the check you deposited cleared the next day, chances are the re-submission of the check by Amex will have gone through. I would call someone at your bank tomorrow morning and find out exactly what happened with the payment. -Peace, Dave
I had this happen once with AMX, this is what happened. They put the check through again three days later, it went through fine, BUT..... AMX charged me a returned check fee (25 dollars I think) and revoked any kind of electronic payment for 6 months as a security precaution (note: you can get aroud this by using a billpay service such as yahoo). The AMX rep would not comment on how this would affect the credit limit (this was years ago) but said that they DO watch the account closer after this type if 'activity'. Shawn
If that happens, call and explain that it is a bank error as they can see by the re-submission of your payment clearing the bank, and you do not bounce checks (assuming you do not have a history of bouncing checks right and left). I would then have them remove the $25 charge. It is ok to err, we are all human, as long as you don't err often, or really screw up and correct your errors quickly which it appears you have. - Peace, Dave
Send the NOTICE OF HOLD... At my bank, that is NOT normal banking business under $10,000...NOW OVER $10,000...that is different. YOU HAD NO WAY TO KNOW THEY WOULD "HOLD" A CHECK UNDER $10,000!!! Many major retailers have more checks bounce under $50, than over $100
I'd figure you'd be an Avalanche or a Kings fan, but rooting for my home team, the CAPS, you go George!
I kinda' have no choice about the AVALANCHE and BRONCOS...20 of 60 minutes of the news is them...(in season).
Actually, it's already gone through twice. Here's how it went: On Tuesday, 8/21, I made a deposit into my bank account, and the bank put a 10-business-day hold on one of the checks I deposited because it was pretty large. They didn't tell me that at the time I deposited it, though. Instead, they dropped me a letter in the mail on Wednesday, 8/23, advising me of the delay in availability of my funds. Also on Wednesday, the AmEx check hit my account and the bank returned it NSF because the funds which they were holding were not available. This morning (8/20), I received both the letter telling me about the hold *and* the notice that my check was returned. At that point I got on the phone and went through the automated system for my bank to find out how messed up my account was. When I did that, I learned that the AmEx check was run through a second time on Friday, 8/17, and returned again NSF. I did not find out about *any* of this until the check had already gone through twice. I called the bank and had a fit, and they offered to refund me the NSF charges that they charged, but that doesn't help me with AmEx. AmEx doesn't even have the check back yet; I am just trying to figure out ahead of time (before they contact me) how bad this is going to mess up my relationship with them. I just want to know what to expect. Anyone know?
I was wondering if it would help to send them a copy of the notice of hold from the bank. Do you really think it will help? Should I call them and explain and offer to fax the notice of hold before they contact me? Has anyone had any experience with AmEx being understanding (or not) when you can prove what happened?
Call Amex before they get the check back (tomorrow AM) and speak to a rep telling them that there is a problem with a check at your bank and the check you wrote them will be coming back NSF...then ask if there is a way to avoid penalties/fees for this by arranging to pay now in a different expedited manner such as ACH payment or overnight FedEx replacement check. As I said if you have no history of bouncing checks, you can get a break if you ask nicely. If you have bounced 2 or 3 checks in the last couple months, different story, but you can work your way out of it if you pre-empt the returned check and plead your case Good luck. -Peace, Dave PS Yes offer to send proof of the HOLD by your bank when you call.
The date in your post doesn't make sense. If you don't have a history of writing checks without the funds deposits, your bank should have paid the check and either waived the charges or just assessed the charges. You may want to consider overdraft protection. I would pay AMEX by phone ASAP, setting up a new checking account. Is there something missing in your story that you haven't mentioned? AZMDX
OH MY GOD I messed up my earlier post so bad. I was sitting here looking at the calendar (not at the actual letters because I am at the office and they are at home) and saying to myself, "Okay, this happened Monday, this happened Wednesday, etc." But I was looking at this week's dates, which haven't even occured yet! Oh, geez, can you guys forgive me? Where I said "Tuesday, 8/21/01" I should have said "Tuesday, 8/14/01". All the other dates are wrong accordingly. These things happened *last* week! I am so sorry for the confusion. Please forgive me. It's past midnight and I have been working since 8:00 a.m. and stressing about this AmEx thing. Sorry!!!!
SEE HOW IRRESPONSIBLE YOU ARE? YOU CAN'T EVEN GET THE DATES RIGHT? GIVE US ANY REASON TO BELIEVE YOUR SAD STORY! JUST KIDDING, DO WHAT NAVE AND GEORGE SAID. I JUST WANTED TO SEE WHAT IT WOULD FEEL LIKE TYPING IN ALL CAPS. GOOD LUCK!!!!!!! oh yahhhh!!!!!
I read a message in all caps and without thinking my mind says George sure knows his stuff and is funny as well. Then I see it was not George writing. Hmmm I spend too much time here. John
The new Amex cardmember agreement is not very forgiving. Not sure what card you use, but the new agreement for the Blue, for instance, says one (that's right, one) returned check suffices to put your account in delinquent status for 12 months, during which the APR would be jacked up to 17.99%. Saar
Nightowl....AMEX - think about this Call them and talk it over with them and just fix the problem! I was bitching and worrying all month because I had a $4100 Green Card bill. I got my shit together and paid it on time. Never been late. They lent me the money, didn't charge me a dime, but they want it back in 30 days - thats my deal. FINE! talk to them - you say you have funds in another account? get them out now - and make your bank write AMEX about the hold. Why are you not paying online anyway? That solves the bounced check issue. AMEX is an extremely valuable relationship! FYI - I got the new Personal Card Terms in my bill insert this month. No surprises other than they will charge high fees if you are late, don't pay with a good check, etc. High FEES: they can charge as much as 2-3% late fee on total balance due - if you owe $10K, your late charge is $200-300. This is on the Charge Cards - interesting sidebar - Platinum Charge customers were excluded from these fees. I would imagine Centurion Cardmembers really don't worry about those sorts of petty fees either. Nightowl these are just my personal feelings! After having had my Personal Card for 13 months, and having demonstrated an excellent pymt history, AMEX lets me charge up to $25K with just a web snap on future spending - my unofficial NO PRE SET LIMIT without any phone call is now $9K per purchase. My credit score is now in mid/high 600s with a BK on my record. AMEX helped me directly. If you lose them, they will be difficult to get back later. Dogman
Re: Nightowl....AMEX - think about this Not necessarily......if the money is not there, it's NOT THERE. Your bank would probably reject the automatic draft of funds, right? Isn't that the same as bouncing a check?
