All American Express cardmembers by now should have received the August 2009 letter from Amex stating the huge rate increase and the changes in the terms of the Amex contract. All members should be outraged at this despicable act by this company prior to the first stage of the Credit Card Reform Act of 2009. There are many sites discussing this travesty by a company who as recent as April 2008 testified before the House Financial Services Sub-committee this would never occur. American Express Executive VP and GM of the Consumer Card... read full review »