AMEX Card * Banco Del Progreso *

T

tradexguy

New member
Jun 29, 2004
22
0
0
Hi,

Have any one of you had any unpleasant experience with Banco del Progreso American Express card? I used to have one about two years ago, and when I would fall behind the minimum payments, I could take 2-3 months to pay and I never had a problem.. interest rate was always ok... perfect..

It looks things changed. My wife used about US$70 two months ago, and with no prior negotiation or talk, they sent a District attorney assistance to get paid by any means, and they gave her ONE DAY grace period to pay it ALL. But that is not teh bad part... we have to pay $146 now because every month they would charge $25 just for being late plus interests. I mean, $25 every month for being late is crazy...

So we had to get the money, go there within the ONE DAY grace period, if not we could have a police force seizing our property... THIS IS THE WORST AND MOST UNPLEASANT TREATMENT I HAVE SEEN IN THIS COUNTRY FROM A BANK THAT IS KIND OF GLOBALIZED...

ANY OF YU HAD ANY EXPERIENCE WITH BANCO DEL PROGRESO? THEY USED TO BE NICE. I HAD CARDS FROM THEM BEFORE AND NEVER HAD A PROBLEM.

USUALLY, BANKS GIVE YOU 3 MONTHS, IF YOU DON'T PAY, THEY NOTIFY YOU THAT YOUR ACCOUNT WILL BE GIVEN TO A COLLECTION COMPANY, BUT NOT SEND A DISTRICT ATTORNEY ASSISTANT, ASKING TO PAY RIGHT AWAY IF NOT YOU WILL BE IN DEEP TROUBLES....

WELL, WILL PAY AND HAVE THEM CUT THE CARD IN PIECES... NO MORE BUSINESS WITH BANCO DEL PROGRESO ANY MORE... MUCH BETTER CREDIT CARDS FROM OTHER BANKS HERE IN TOWN...

JR :confused:
 
Robert

Robert

Stay Frosty!
Jan 2, 1999
20,574
341
83
dr1.com
Sorry to hear you had problems. Remember, Amex is a charge card, not a credit card and their late fees structure is different to many regular credit cards.

We use a Progreso Amex her at DR1 and have never had a problem.
 
R

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
4,837
0
0
This is Rich

Someone gets a credit card and then won't make the tiny minimum payment, falls behind on the payments and complains they come and ask to be paid on time. This is the basis of your complaint? PAY THE G*D* THING on time. They are not intended to be paid at the card holder's convenience.
 
M

MrMike

Silver
Mar 2, 2003
2,586
100
0
52
www.azconatechnologies.com
Um, yeah you should pay those things on time...

Unfortunately heavy handed tactics are one of the few things that can make Dominicans pay up. I have about 3 Million pesos out on financed deals right now and unfortunately have had to put a few people behind bars for bad checks etc.

Funny how you feel it's bad form for them to sieze your property, but you don't find any fault with yourself for using theirs (money) and violating your agreement to pay for several months.
 
S

Sanson

New member
Apr 14, 2003
129
0
0
Credit cards shouldn`t be used to finance payments, specially on the Dominican Republic where interests rates are high above the sky. That is unless you want to make the bank rich.

Also, If you have a credit card you are supposed to pay at least the minimum in a monthly basis. The bank was not designed for you to forget about paying.
 
B

baileyboy

New member
Jun 27, 2004
392
2
0
I work for a bank...

but for the record not Amex...I actually deal with Visa, however I must agree with the bank to a degree...they are "loaning" you money, in the good faith that you will repay. When you applied for the card you agreed to the terms and conditions that you would pay the money back. And that is why the bank has a DUE DATE on your statement. Whether you pay it in full or not, there is a due date for a reason...they want you pay something towards the loan you took out with them. They have given you a grace period...from the date the statement was printed or when you "borrowed" the money...to the DUE DATE! It's there for a reason, and you signed the agreement when you were given the card.

I know from working with Visa that things come up in peoples lives, that take presidence in bill payments, and I can sympathize with that...however if it's ongoing...then it's something (as a corporation and business)to be worried about.

I don't agree with the tactics that Amex has used, but if you've missed payments in the past, they may see you as a possible risk, and therefore want their money and will do anything they can to get it back. I don't agree with it, and I can not speak for them... but it is a little extreame. But... this is in a country where people have been known to NOT pay back debts which therefore result in HIGH interest rates etc..., and Amex wants to protect their "***"set. :bunny:
 
U

ustelephone

Member
Mar 31, 2004
361
2
18
www.ecoislandadventures.com
Didn't anyone mention to you that this is the 3rd world? Why in the world would you even begin to borrow money here if you are a person with good credit? Most of the foreigners that I know with credit cards from here have them because their credit back at home is screwed up. If this is your case, then I would suggest that you give thanks that as a foreigner you were GIVEN credit. You should repay the favor by making payments on time. I don't know if anyone has told you, but they can do worse things to you for not paying here. If you have good credit, then stick with 1st world banks for credit. Then, if you pay late, you can still complain. The worst they will do is call you at 8am on Saturday to molest you.
 
M

mariel

Dominisueca
Apr 7, 2004
514
6
0
sorry for being ignorant but...

what's the difference between a charge card and a credit card?

thanks :) (non-credit card person, so far).
 
M

Marianopolita

Former Spanish forum Mod 2010-2021
Dec 26, 2003
4,821
766
113
Mariel,

With a charge card you have to pay off the balance monthly (on time) and there are no interest charges.

With a credit card you can have a running balance and interest is incurred every month based on the outstanding balance. Depending on your personal preference you can pay off your credit card monthly or pay the minimum or more. The bottom line is you can have a remaning balance at the end of every month.


mariel said:
what's the difference between a charge card and a credit card?

thanks :) (non-credit card person, so far).
Click to expand...
 
U

ustelephone

Member
Mar 31, 2004
361
2
18
www.ecoislandadventures.com
mariel said:
what's the difference between a charge card and a credit card?

thanks :) (non-credit card person, so far).
Click to expand...

1st of all, don't be sorry for being ignorant; it's a sign of intelligence to know that you are ignorant. Also, all of us here, including myself (at the top of the list) are ignorant. ;)

Secondly, credit cards are a good area to be ignorant in. It's the one area I've never been ignorant (or intelligent) in, and I've always regretted it. :( More to the point, they all suck and can ruin you; cash is king! :smoke:

Third, Leslie gave you a very accurate response to your question.
 
Last edited:
D

Dominican

New member
Nov 9, 2005
2
0
0
Amex Cards are credit cards in the DR and they work just like all the other brands(visa and Mastercard) .I use an Amex Card from Banco del Progreso for the past 7 years trouble free and with the lowest interes on the island.I will suggest that you keep track of you finances and avoid these problems.
 
A

arturo

Bronze
Mar 14, 2002
1,336
97
48
It's simple, isn't ?

Dominican said:
Amex Cards are credit cards in the DR and they work just like all the other brands(visa and Mastercard) .I use an Amex Card from Banco del Progreso for the past 7 years trouble free and with the lowest interes on the island.I will suggest that you keep track of you finances and avoid these problems.
Click to expand...


Pay your bills and you will have no problems. Consider avoiding credit cards if you can't seem to keep up with the payments. "Cobros" is a high growth industry here. Consumer credit and the usurious interest rates are key tactics the oligarchy uses to maintain abusive control over the Dominican masses. It's shameful.
 
J

JRR

New member
Dec 9, 2004
255
2
0
73
Ben Franklin said it best!

ustelephone said:
1st of all, don't be sorry for being ignorant; it's a sign of intelligence to know that you are ignorant. Also, all of us here, including myself (at the top of the list) are ignorant. ;)

Secondly, credit cards are a good area to be ignorant in. It's the one area I've never been ignorant (or intelligent) in, and I've always regretted it. :( More to the point, they all suck and can ruin you; cash is king! :smoke:

Third, Leslie gave you a very accurate response to your question.
Click to expand...


It is better to remain quiet and thought the fool, than to speak up and remove all doubt!
 
You must log in or register to reply here.
Top Bottom