Amex

Report Card
C-
Overall Grade
B
Debt Collection Grade
F
Credit Reporting Grade
F
Credit Cards Grade
Amex is rated overall in the bottom 15 percentile (out of 100) based on 3,542 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits121.4
Complaints Resolved in a Timely Manner99.9%
Resolutions Disputed by Customer26.1%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationAmerican Express Company
EstablishedDecember, 2000
FDIC InsuredDecember, 2000
FDIC Certificate #035328
Number of Branches1
Total Assets$43 Million (32nd)
Total Deposits$29.2 Million (31st)
Total Equity$6.8 Million (27th)
Quartarly Net Income$555.5 Thousand (9th)

Contact Information

Corporate Headquarters
4315 South 2700 West
Salt Lake City, UT 84184
United Statesflag
Website
http://www.americanexpress.com
Data Summary
Amex logo

Grade Summary

Overall, Amex received a grade of "C-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Amex is rated "B" in Debt Collection, "F" in Credit Reporting, "F" in Credit Cards, and "B-" in Bank Account Services. Click on any of the financial products to see how Amex compares.

Overview

Amex has received 3,542 consumer complaints since December, 2011 – more than 99% of other banks.

Of those complaints, 99.9% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Amex meets the 60-day response deadline more frequently than 62.7% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 26.1% of customers dispute Amex's response to complaints — worse than 82% of other companies.

Most of Amex's customers complain about credit cards with the primary issue being "billing disputes."

Amex is primarily a credit card company and a savings institution with a specialization is credit cards services. Amex is based in Salt Lake City, Utah and is the 32nd largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Amex receives far more complaints than most other banks. Amex recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Amex
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Credit cardBilling disputes640
2Credit cardOther304
3Credit cardClosing/Cancelling account280
4Credit cardIdentity theft / Fraud / Embezzlement262
5Credit cardRewards234
6Credit cardAdvertising and marketing200
7Credit cardCredit line increase/decrease177
8Credit cardLate fee151
9Credit cardAPR or interest rate150
10Credit cardTransaction issue139
Responses From Amex
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation2,6762,674 (99.9%)830 (31%)
2Closed with monetary relief746746 (100%)119 (16%)
3Closed with non-monetary relief423423 (100%)64 (15.1%)
4Closed without relief250250 (100%)77 (30.8%)
5Closed with relief8181 (100%)14 (17.3%)
6Closed66 (100%)1 (16.7%)
Complaints over the Past Year