Do You Have the Charge or Credit? Greetings Saar! Comment ca va? NIGHTOWL - You didn't mention which Card you carry. There may be different considerations but they look at it - based on personal history within AMEX also. Bouncing a check does not suggest significant financial stability. Make your bank WRITE AMEX that it was their fault. FIX it! You should have already contacted AMEX and already replaced the cash - B4 the due date. Stressed over this AMEX thing? You could have solved the entire issue in one call and be done with it. SEND AMEX a copy of the hold? WHO CARES? You should have fulfilled the bill, then worked out the money independently. Why should AMEX be the one to get stuck? AMEX says they get paid either in full (charge) or partially with credit cards. AMEX caters to those who are successful, or manage their resources well. They would doubt your financial status and ability to pay. Don't mean to be harsh Nightowl - but after you changed the story a couple of times, I wonder if something else is off-hook? c ya dogman
MP - Hi Down there You may be right - BUT - I view it more as a POS transaction - Your transaction is presented to the databases, read it to see if the available funds are available, then when approved "holds" that amount instantly for AMEX transfer. If there is not enough money, like a charge, it simply is not yet processed and the current bill is still outstanding. Very interesting commentary MP! I just haven't ever paid them ANY WAY other than web. But clearly they do have fees for bounced checks. glad to c ya dogman
Re: MP - Hi Down there I think it's time to go into damage control mode....Here's what I would do. Get both overdraft charges reversed (REAL IMPORTANT) Then,and only then, ask the person who granted the reversal, for a letter stating and confirming that the check in question was returned in error by the bank.This can be done....plead your position. Make a few copies. Send or fax one to the amex.rep with the promise to overnight their funds to them. Make sure to then order your ChexSystems report and then dispute the bounced checks and include the copy of the bank error letter with your dispute. In the future.... 1)When I get a large check, I always call the bank its written on to verify funds. 2)Deposit the check in your atm rather than in the bank as the hold times are shorter. 3) Get overdraft protection on the checking acct.It cost nothing if you don't use it.Minimum is usually $500 (max about $10K) protection and is usually possible with a 670-680 minimum fico.If you can't get a line of credit overdraft, try to see if you can link a credit card to the overdraft. I can't stress enough how important overdraft protection is on a checking acct. The peace of mind of knowing you aren't going to bounce a check because some stupid fee kicked in or a hold was placed on a deposit alone are worth the effort to apply.Payback is usually only 1-2% a month and is great if you need emergency money as there are no advance fees involved with atm withdrawals. I have also in the past, balanced transferred my line of credit overdrafts to a 0% credit card offer. Good luck and I hope this helps... VJ
