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.
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.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Credit card||Billing disputes||640|
|3||Credit card||Closing/Cancelling account||280|
|4||Credit card||Identity theft / Fraud / Embezzlement||262|
|6||Credit card||Advertising and marketing||200|
|7||Credit card||Credit line increase/decrease||177|
|8||Credit card||Late fee||151|
|9||Credit card||APR or interest rate||150|
|10||Credit card||Transaction issue||139|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||2,676||2,674 (99.9%)||830 (31%)|
|2||Closed with monetary relief||746||746 (100%)||119 (16%)|
|3||Closed with non-monetary relief||423||423 (100%)||64 (15.1%)|
|4||Closed without relief||250||250 (100%)||77 (30.8%)|
|5||Closed with relief||81||81 (100%)||14 (17.3%)|
|6||Closed||6||6 (100%)||1 (16.7%)|