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American Express Credit Card Scam

I've studied credit card scams and abuses in the abstract.  I wanted to do an experiment to see how shady credit card company "accounting" really is.  My cynical self was astounded.  I'll tell you what I did, and then show you what happened.  I'm sure some shyster can explain why this "accounting" was the product of "free choice" or "freedom of contract."  It's a shyster I won't listen to, as anyone who would defend this practice is unworthy of attention.I always pay my balance off each month.  This month, I decided to carry a small balance to see what finance charge I would incur.  My previous balance was $979.90.  Payment Activity (how much I paid) was $704.90.  Thus, should have had an unpaid credit card balance of $275 that I would pay interest on...continue to full post

Full post as published by Crime & Federalism on April 30, 2009 (boomark / email).