Originally Posted by
txpenny
Hyperbole, or do you really believe charging a late fee(s) is extortion?
I don't know the policy at Chase or Citi regarding late fees and or reinstatement fees, since I don't pay my credit card bills late, but I doubt AMEX is the only CC company with these charges.
I have no problem with a late fee for an overdue bill. Having the customer pay their bill in full, pay a late fee and then holding their points hostage unless they pay an additional fee to get them back feels like extortion. Certainly doesn't make me feel good about AMEX.