AMEX class action lawsuit settled, Now Chase...

[binki]

Got a check in the mail for less than $20 for the settlement about something to do with foreign exchange rates. Just a few days later here comes one from Chase where they upped the minimum payment from 2% of the balance to 5%.
While the AMEX charges never affected us, the Chase one did. We had used those 2.9/3.9 and 4.9 % checks to purchase equipment and had a very large balance. We paid the minimum each month because of the great interest rate. I guess I will get another check in a few years for this one to. I can go out an get a bottle of with it I guess.

 

[David Wright]

$20 isn't much to all the card holders, but the lawyers handling it will make millions.

 

[binki]

yuppers. at least i have enough to buy a drink to celebrate the trial lawyers!

 

[ProWraps]

i always wondered how they could raise the interest rates on money that was already used to purchase items and the lower rate.

that CANT be legal.

as said above. class action laywers are ambulance chasers.

they make all the money. 30% or more on EVERY payout to EVERY "winner". millions of winners, millions of $.