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American Express is increasing annual rates on more than one million credit cards, according to a report form Bloomberg's Elizabeth Dexheimer. The company has sent letters to affected clients, saying they pay less than cardholders with similar credit NEW YORK (AP) - American Express increased interest rates on some of its credit card accounts by an average of 2.5 percentage points in recent weeks, a spokeswoman for the company said Wednesday. Spokeswoman Elizabeth Crosta declined to say how many of its Interest rates on some American Express credit cards will be increasing but AmEx declined to provide a specific figure. "As a normal part of business, we looked at our portfolio," said Crosta. "We found that we had APRs that were significantly lower including some of its proprietary and co-brand credit cards, Bloomberg quoted an American Express spokeswoman as saying. American Express could not be reached for a comment outside regular business hours. Earlier this month, American Express said its including some of its proprietary and co-brand credit cards, Bloomberg quoted an American Express spokeswoman as saying. American Express could not be reached for a comment outside regular business hours. Interest rates on some American Express credit cards will be increasing “As a normal part of business, we looked at our portfolio,” said Crosta. “We found that we had APRs that were significantly lower than market rates.” .
headlines for rate hikes — it was rampant before and during the recession — but the CARD Act of 2009 restricted the practice. Still, as American Express has just shown, issuers can increase your APR under a handful of circumstances. If you A judge on Thursday, Feb. 19, 2015 ruled that American Express violated U.S. antitrust laws by barring merchants from asking customers to prefer one credit card over another their vendors compete for their business and, hopefully, drive down prices. American Express waves the white flag of surrender after losing an antitrust lawsuit this week. News broke Thursday that the credit-card company lost an antitrust lawsuit over whether it could stop merchants from asking customers to use other credit cards. NEW YORK (AP) — American Express is increasing the interest rate on some of its credit card accounts by an average of 2.5 percentage points. A spokeswoman for the company declined to say how many of its roughly 42 million cards would be affected. .
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