American express guys are clever buggers. Imagine reading your credit card statement with things like opening balance, new credits, new debits and closing balance. I guess they assume everyone who has good fortune of having a Amex card will know basic accounting terms. Or may be not. There is something that we are missing.
Amex never tells directly how much TOTAL amount is due on your credit card. Its always hidden there in debits and credits. Not satisfied by that they even go and tell you that ” We would appreciate receiving your payment of XXXX( this is minimum amount due) by so and so date. Then to make it look legit they add that we should make the payment prior to due date to avoid levy of penal charges. To a ordinary eye it will seem like if I pay minimum amount due then it should be okay. No. Not okay. On the balance they are going to charge 3.65% interest per month. And that is a lot of money my friend.
This is nothing but robbery in broad day light. First of all confuse the customer by debits and credits. Then advise them only to pay minimum and then charge nterest on balance amount. Don’t believe me. Look at the American Express card statement
Compared to American Express, ICICI Bank guys are much nicer. Their statement is clear, it tells you to pay the total amount due to avoid interest charges and a layman can understand it as well.
Time to complain to someone and get it sorted.