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Senior Contributor
score_building
Posts: 3,468
Registered: ‎01-10-2008

Re: AmEx closed my acct, how can I mitigate the damage?

ideally you can be prepared to PIF when you call to reinstate, i think that's what you're saying anyway. best of luck! 


CrimsonSky wrote:

...PIF is definitely my #1 plan. I plan on calling AmEx's credit department tomorrow to see if there's anyway to reinstate my account and THEN PIF. Wish me luck.


 

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Established Member
CrimsonSky
Posts: 26
Registered: ‎01-18-2009

Re: AmEx closed my acct, how can I mitigate the damage?

[ Edited ]

I just had an odd experience with Customer Service. When I initally called them on Saturday, they told me I would have to go through the credit department on Monday to talk about reinstating my account.

 

Today, I called the customer service line first because I left the credit department's number at home, I was looking to be transferred. I explained to the rep why I needed to talk to the credit department and she took a look at my account and was EXTREMELY sympathetic. She said, "You have an outstanding history with us!" and I said, "YEAH! I KNOW. That's why I'm angry and confused as to why you guys closed my account." So she assured me that I could most likely get my account reinstated but all I had to do was get a letter from Experian verifying that my credit was in good standing that AmEx was the only credit card I was holding. I was confused because surely if AmEx wants to pull my CR, they can. After all, in the cancellation letter they stated that they had pulled my CR from TransUnion and cancelled my card based on that CR.

I was puzzled but she assured and reassured me that because I had such a long, outstanding history with AmEx that I should just send over a copy of my Experian CR to the AmEx clerical department, and she would call me later that afternoon and that the reinstatement process would take 42 hours. So I printed the Experian CR and faxed it.

 

Later that afternoon when she called, she said that she had some "corrections" to make. I need to fax to the Experian CR with my Experian FICO or Vantage score. But I can't access my FICO from Experian since they pulled their reports from myFICO. So I paid $5.95 for my vantage score, which lists my credit as PRIME, and I faxed it again. Now she said the whole process would take 7days instead of 42 hours. I'm a little suspicious of this whole thing because if AmEx wants my CRs they don't need me to send them. I'm only entertaining this because the Customer Rep assured me I could get my account reinstated. We'll see.

Message Edited by CrimsonSky on 04-06-2009 07:10 PM
Regular Contributor
Cheezy
Posts: 169
Registered: ‎02-29-2008

Re: AmEx closed my acct, how can I mitigate the damage?

I might be bitter because I so, so hate Amex now... but that does sound very weird.  This one CSR is going to save the day by reinstating?  The reason I think it is fishy is because every single letter Amex sends me as they chase my balance has a new "reason" why they're doing so.  I had a 7 year history with them and was constantly getting CLI's without asking and then one day they decided I was a bad girl and took it all away.  I've tried calling, writing and even reported them to BBB (because it was fun).  I just think it is weird that this person you spoke to is going to help you, one person, when they're doing this to so many, MANY people.  Customers with excellent history with them are being treated like dog du, so it just makes me very curious....
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haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: AmEx closed my acct, how can I mitigate the damage?

CrimsonSky, you're absolutely certain that the number you called was truly American Express, right? Not from an e-mail or something.

It would be pretty scary if you faxed your reports to an identity thief.

I'm like you, they could have pulled it themselves. Are they now so broke that they can't afford to pay for a soft pull??
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
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Established Member
CrimsonSky
Posts: 26
Registered: ‎01-18-2009

Re: AmEx closed my acct, how can I mitigate the damage?


haulingthescoreup wrote:
CrimsonSky, you're absolutely certain that the number you called was truly American Express, right? Not from an e-mail or something.

It would be pretty scary if you faxed your reports to an identity thief.

I'm like you, they could have pulled it themselves. Are they now so broke that they can't afford to pay for a soft pull??

 

Lol yes, I'm sure the number was AmEx. I got it from their site.

 

Now the fax I received from their customer service reps and I've got names and Rep IDs recorded. So if anyone had me fax to an identity thief then they've got a lawsuit on their hands!

 

Established Member
CrimsonSky
Posts: 26
Registered: ‎01-18-2009

Re: AmEx closed my acct, how can I mitigate the damage?


Cheezy wrote:
I might be bitter because I so, so hate Amex now... but that does sound very weird.  This one CSR is going to save the day by reinstating?  The reason I think it is fishy is because every single letter Amex sends me as they chase my balance has a new "reason" why they're doing so.  I had a 7 year history with them and was constantly getting CLI's without asking and then one day they decided I was a bad girl and took it all away.  I've tried calling, writing and even reported them to BBB (because it was fun).  I just think it is weird that this person you spoke to is going to help you, one person, when they're doing this to so many, MANY people.  Customers with excellent history with them are being treated like dog du, so it just makes me very curious....

Believe me, no one was surprised more than me! I called today and totally expected a knock-down, drag-out fight but this customer rep was sympathetic, helpful and friendly! I was caught off-guard. I'll wait and see if my card's reinstated before I sing her praises too much though.....

Established Contributor
Posts: 513
Registered: ‎04-03-2007

Re: AmEx closed my acct, how can I mitigate the damage?


CrimsonSky wrote:
Believe me, no one was surprised more than me! I called today and totally expected a knock-down, drag-out fight but this customer rep was sympathetic, helpful and friendly! I was caught off-guard. I'll wait and see if my card's reinstated before I sing her praises too much though.....

I get the feeling that Amex screwed up some how or got some bogus info in an account review (not complete report) from Experian. The CSR knows more than she is letting on. I can't understand the reason you have to fax reports. Amex could simply pull the report. Maybe Amex pulled the wrong report or there were additional tradelines in your file that didn't belong to you. Chances are the account review (soft pull) does not have all the info that your printed copy has. The rep might be one of those rare service people who actually believe in helping the customer.

 

In any event the CSR is doing a lot of work for a front line rep. Usually a rep would kick you to an analyst and the analyst would have you jump through the hoops. I have no experience dealing with Amex however, and maybe all their employees get to make the customers jump through hoops, lay down, roll over, "sit up  pretty" and "Beg!" :smileywink:

 

Instead of saying "Goood boy" or "Niiice doggie" and giving you a "puppy biscuit", maybe Amex will reopen your account.

 

If the account gets reopened, after saying "woof" and wagging your tail; don't forget to ask for a credit limit increase, and interest rate reduction as your reward instead of a crumby "puppy treat". :smileyvery-happy:


Frequent Contributor
credit4me
Posts: 348
Registered: ‎06-27-2007

Re: AmEx closed my acct, how can I mitigate the damage?

For the LIFE of me I cannot understand why we act like Amex is the best things since cooked food. These bums closed my Clear & Blue cards for other balances too high! I owe 3200 on 29,500 worth of available credit. I have always paid them in full and even went through their review with the IRS and passed with flying colors.

 

They can have their STINKING cards I will never do business with them again!



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Established Contributor
Posts: 513
Registered: ‎04-03-2007

Re: AmEx closed my acct, how can I mitigate the damage?


credit4me wrote:

For the LIFE of me I cannot understand why we act like Amex is the best things since cooked food. These bums closed my Clear & Blue cards for other balances too high! I owe 3200 on 29,500 worth of available credit. I have always paid them in full and even went through their review with the IRS and passed with flying colors.

 

They can have their STINKING cards I will never do business with them again!


For years some people seem to have been real happy with Amex.

I recall reading rave reviews about customer service. I think the problem is that things do change. Every time there is a new post about Amex burning someone there are those of us who have an even greater resolve to have nothing to do with the company in the first place. It could still have the greatest customer service and be the most fantastic prestige credit card on the planet.. I still won't ever considering accepting one of the Amex cards because I believe the adage, "Where there is smoke there is fire". 

 

I happen to have had very few bumps in the road with Bank of America and Chase. I therefore frequently recommend them as options for other people. It has not always been so. A few years ago I kept ridiculing Chase's stingy and arbitrary ways. I believe that Chase has gotten a lot more competitive with pro consumer efforts in recent years.

 

Some people have gotten burned by BoA and or Chase. When their stories make it to the forums, red flags are waved for those banks. Some people might chose for instance to never even start to deal with Bank of America  as a result of much BoA bashing on the web. I can understand that. There would have to be compelling reasons to app for BoA that would outweigh the risk of the downside. I frequently mention positive reasons to deal with BoA & Chase. It is up to the forum reader to weigh the positive and negative before following my advice or that of people with the opposite point of view.

 

Addressing your specific comments,

I have come to the conclusion that I have not seen any compelling reason to obtain an American Express card that outweighs the risk of being treated like dirt.

 

There are different strokes for different folks. I have adopted an extremely conservative approach to FICO score building. I don't app for umpteen credit cards to "build my credit". From day one my goal was to reach 800 as fast as possible, not have as many credit cards as possible. I made a conscious decision to plan far ahead and investigate all options before making choices about cards. There are many diverse opinions about apping for different cards in these forums. I focus on the less is more approach. I choose to limit my risk of receiving adverse action before I even app for a particular card. I do that because I am somewhat aggressive in pushing for higher credit limits and only using my credit to make a profit, not go into debt.

 

Amex might even have some obscure benefit for me in my financial plans, but I have long ago chosen to ignore the possibility as the result of posts like yours.

 

 If I had obtained multitudes of credit lines, and Amex was one of them, I could be of the mind to kick Amex to the curb and not be concerned with the negative impact to my credit scores. The OP has a credit file with few other tardelines and does not have the luxury of simply abandoning all Amex efforts especially now while anticipating a mortgage application in the near future.

 

 

The OP's primary objective is to mitigate Amex's Adverse Action,

not make the situation worse.

 

Once a person receives adverse action from a card issuerer, the choices of whether to deal with the company or not are not the same that I person with no prior consumer relationship would have.

 

Many people like yourself who have been burned, see no purpose for continuing a relationship with a psychotic lending entity.such as Amex.

 

If the boat I am sitting in springs a leak, I would normally work on plugging the leak to keep from having to swim, while trying to obtain another boat. Some people might just jump over the side and swim to a more solidly built boat. I prefer to plug the leak if possible and ride the old boat over to the new one. I don't get as wet that way. If I suspected (in advance) that the boat had a leak, I would have tried to avoid getting into the boat in the first place.

 

Just because some of us encourage the OP to keep an Amex relationship open if possible, does not mean that we all would app for Amex in the first place.

 

Some of us are simply encouraging the OP to stay in the Amex boat (if possible) a while longer in order to mitigate any potential greater loss. I have positioned myself to be able to stay in the boat if BoA or Chase ever springs serious leaks. I also have plan A and B to obtain better cards if that were ever to happen. Apping for an Amex card is definitely not part of my plan A, B, or C. :smileywink:


Established Member
CrimsonSky
Posts: 26
Registered: ‎01-18-2009

Re: AmEx closed my acct, how can I mitigate the damage?

I have an update. Those of you who were skeptical of the "kind" customer service rep were right on the money. She turned out to be full of hot air.

She promised to call me back after I faxed my vantage score and CR. She didn't. Then I called to speak to her and they wouldn't put me through to her and the lady I did speak with was RUDE and testy with me. Repeating the ridiculous mantra that there were items on my CR that showed delinquincies blah, blah, blah. So I paid those idiots off and I'm done with them.

I'm just so furious that AmEx messed my credit up for no good reason. I'll never do business with those hooligans ever again.


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