Avoid American Express Gold Delta Sky Miles Credit Card

American Express solicits existing American Express cardmembers to obtain a Gold Delta SkyMiles Credit Card. Although the terms of this card may be similar to those of numerous other credit cards, American Express cardmembers should consider these terms to be disrespectful. Here are some examples:

A single payment which is not received on time will cause your account to be considered to be in default.
A late fee of $38 can apply to a minimum payment of as little as $15.
This single late payment will trigger an increase in the interest rate on your introductory balance transfer from 9.99% to 20.74%

Sure, their offer may include bonus miles that are worth a couple of hundred dollars, but what American Express is really doing is betting that you're probably going to make a mistake somewhere along the way, that you'll inadvertently fail to make the payment some month, and then they can quickly earn back the value of those bonus miles and then some in fees and increased interest rates.

There are plenty of other credit card offers with terms as onerous as these... at least these other offers generally don't make you suffer the pretense that you're a member of their special sucker club.

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Revision r1.1 - 24 Nov 2007 - 06:08 by EliMantel
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