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Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Amex Playing Games

[ Edited ]

Many of us are aware of the games Macy's is playing, now I can confirm something wacky is going on with Amex. I pulled my 3-in-1 report at Credit Secure today and I was shocked at what I saw. My Platinum card is reporting a "high balance" of $3xxx on my EX and EQ reports. Of course, I know this is wrong. My "high balance" should be reporting as $12,xxx. I was able to confirm this by looking over my older reports that I kept. TU hasn't updated this account for this month yet, but even with TU, its still reporting inaccurately. TU from last month has my "high balance" at $9xxx. It appears my Platinum account "high balance" has been reporting a lower amount every month since January of this year, with the exception of March. Something is CLEARLY wrong! I will call the folks at Amex first thing tomorrow morning.

 

For Amex Plat card holders, please check your reports. So far, my Amex Clear account has no reporting errors.:smileyhappy:

 

 

 

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: Amex Playing Games

[ Edited ]

Update!

 

After making numerous calls, I finally have an answer to all of this. According to two different units at Amex (credit bureau unit and a higher up within CS), Amex charge cards will report the "high balance" on cards based on your spending habits. That is, they'll take the amount of your expenditures (charges) over the last 12-18 months and divide it by a number between 12-18. They couldn't tell me when they started doing this, but I noticed all hell broke lose at the beginning of this year. I haven't used my Platinum card that much over the last 13 or 14 months. Over the last 4 months or so, my high balance went from 12,xxx to 3,xxx. For the life of me, I have no idea why they're calculating the high balance this way. A high balance IS a high balance!:smileymad: How do they gain? There is no rhyme or reason to what Amex is doing here.

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Regular Contributor
Posts: 117
Registered: ‎05-12-2010
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Re: Amex Playing Games

If I had the Amex Platinum card I would wear it out with so much use.

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
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Re: Amex Playing Games


fused wrote:

Update!

 

After making numerous calls, I finally have an answer to all of this. According to two different units at Amex (credit bureau unit and a higher up within CS), Amex charge cards will report the "high balance" on cards based on your spending habits. That is, they'll take the amount of your expenditures (charges) over the last 12-18 months and divide it by a number between 12-18. They couldn't tell me when they started doing this, but I noticed all hell broke lose at the beginning of this year. I haven't used my Platinum card that much over the last 13 or 14 months. Over the last 4 months or so, my high balance went from 12,xxx to 3,xxx. For the life of me, I have no idea why they're calculating the high balance this way. A high balance IS a high balance!:smileymad: How do they gain? There is no rhyme or reason to what Amex is doing here.


Strange.  I'd tend to agree that a high balance is a high balance.

 

Something smells fishy.

IAALBNYL
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: Amex Playing Games

 


asteroidblues wrote:

If I had the Amex Platinum card I would wear it out with so much use.


I used to charge 9-12+K a month. I have taken my business elsewhere.

 

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
0

Re: Amex Playing Games

 


O6 wrote:

 

Strange.  I'd tend to agree that a high balance is a high balance.

 

Something smells fishy.


At some point, we will figure out if Amex has some nefarious plan in place for its card holders.

 

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Valued Contributor
Posts: 1,671
Registered: ‎05-24-2007
0

Re: Amex Playing Games

My Amex Optima is reporting the $3020 high balance of two months ago. They aren't doing an average since there have been several months recently where my balance was $0.

 

Another interesting fact is that my balance of $20K or so from 3 years ago does not appear. This had already been changed on my EX report from 13 months ago. This seems to indicate that they haven't been using your highest EVER balance for awhile.

Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
0

Re: Amex Playing Games

Interesting! It appears that Amex has been doing this for some time then. I'm still trying to figure WHY they're doing this.

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

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