In May of 2008, American Express sent me a balance transfer offer, which boldly proclaimed on the envelope, "3.99% APR for the life of the balance on balance transfers." They also repeated this claim on the application in large letters! I have paid faithfully and on-time since taking the offer. Now, I receive a letter saying that they will raise the rate to 17%. I urge everyone to BOYCOTT EVERY AND ALL AMERICAN EXPRESS PRODUCT. How do we let these companies take taxpayer money, and then engage in blatant fraud? read full review »