American Express Apologise for ‘Typing Error’

Red- faced American Express bosses have been forced to apologise to thousands of customers after a marketing error resulted in them being offered a 0% balance transfer rate for life.

To compound the error further was the fact that some customers already had transferred their balances to the Amex card. The customers in question reacted furiously when they were told that instead of the 0% rate lasting for the lifetime of the balance it would only last for six months.

The cardholders, unaware of the error contained within the marketing material they had received, were told they had until the middle of June to take advantage of the offer. Confirmation of the offer was even in the small print, allaying cardholders’ fears that the deal was too good to be true.

One cardholder, who had transferred nearly £8,000 in other card balances to the Amex card, is angry and worried that he may have no recourse when it comes to Amex honouring the agreement. Richard Morris, of Kilmarnock, said: “ I understand bank’s don’t usually offer free loans, but the offer was in black and white. Does Amex have any rights to alter the offer when I have complied with very one of it’s details?”

Chris Wrigley, from West Sussex, endured the application process for the card only to be told that the offer was an error. Mr Wrigley was unconvinced further as he had already med the necessary arrangements to transfer his other 5 balances.

“ When I tried to make the final step to transfer my balances they told me they were sorry but the letter was a mistake and that the real offer is only for six months at 0%,” said Mr Wrigley.

“ I’m absolutely fuming, when I think of the time and expense I invested in this – the chance to start again with a clean slate – only to be completely let down. They made out it was a typing error, but how can you make the mistake between six months and for the life of the balance?”

A spokeswoman for American Express confirmed the company had launched an investigation into the mistake. She added: “ It was a marketing letter sent out in error. Due to the inconvenience it has caused customers, we are offering them 0% for six months and have waived the 2% handling fee.”

Alisdair Milton
26th May 2006

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