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Author: yobria Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Re: Going after Amex...need help Date: 5/27/2004 9:55 PM
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You're welcome, and feel free to use my comments.

That said, you're probably out of luck, and my advice is to drop the matter and get on with your life.

You have two options: get a lawyer and persue the matter in court, or harrass the company until they pay you something, as Joe suggests.

If there was some type of clear, provable (in writing) illegitimate behavior by AmEx, it doesn't matter if there was a prior class action or not: you can still sue and recover damages (unless there are statue of limitation issues). However, I doubt that was the case. More likely, your parents were simply sold a high fee financial product. Happens every day.

Harrassing the company probably won't work either. That's an effective trick (that I've used a few times) for unique situations where the company can make you whole without having to pay a million people with cases just like yours. But if AmEx reimburses your parents for such a generic claim as having been sold a high fee product, they'll open up the door to paying the rest of their customers as well. It isn't going to happen.

Bottom line: somewhere, there's a contract your parents signed, and however awful it was, AmEx adhered to it. If you can prove otherwise, by all means take them to court. Otherwise...

Nick
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