Don't bother with AMEX credit cards

[Anonymous]

My husband and I did a search on Google entitled "Complaints against American Express" and noted recent credit line decreases remarks there too. 

This is really sad as there are good customers out here paying their bills on time and running quite a bit of money through Amex, only to have negative actions taken against them.

Sandy

[Not_the_Point]

Well I guess maybe having been shot down for both the Green and Gold Cards might have been a blessing in disguise?

Interesting information, thanks for sharing your stories. This has definetly affected my decision to get an AMEX... think I'll try Discover Card instead.

Message Edited by Not_the_Point on 08-28-2008 07:24 PM

[Anonymous]

I called Discover the other day letting them know that I will be using my card more than I have been- (I recently paid off my 0% APR balance) 

When you are ready- you will love the customer service at Discover- I almost always get connected to the call center here in AZ near my work.  

They always provide top notch customer service.

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Not_the_Point wrote:

Well I guess maybe having been shot down for both the Green and Gold Cards might have been a blessing in disguise?

Interesting information, thanks for sharing your stories. This has definetly affected my decision to get an AMEX... think I'll try Discover Card instead.

Message Edited by Not_the_Point on 08-28-2008 07:24 PM

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[OntheHorizon]

Well I too have been affected.  This is ridiculous.  My line was only $1000 to begin with, cut me to $500, and no I've never been late and never went over the line, ever.  I'm so pissed, I already sent a request to find out why my line was decreased.  I'm about to write a letter to them demanding to know why; I don't care out these uncertain financial times we live in.  If I've been a good customer, then I expect them to reciprocate and be good to me.  My balance sits as zero now and funny that my line was all of a sudden decreased.  It's unfortunate yes, but for those like me who haven't reached "prime" status (my scores sit from 634-653) every bit helps, and I'm not going to be penalized for what others have done.  Somebody at the top needs to hear about this.  Those who have been affected, please do the same...

[Anonymous]

Yep- it stinks.

You will get a letter in a few days.

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OntheHorizon wrote:

Well I too have been affected.  This is ridiculous.  My line was only $1000 to begin with, cut me to $500, and no I've never been late and never went over the line, ever.  I'm so pissed, I already sent a request to find out why my line was decreased.  I'm about to write a letter to them demanding to know why; I don't care out these uncertain financial times we live in.  If I've been a good customer, then I expect them to reciprocate and be good to me.  My balance sits as zero now and funny that my line was all of a sudden decreased.  It's unfortunate yes, but for those like me who haven't reached "prime" status (my scores sit from 634-653) every bit helps, and I'm not going to be penalized for what others have done.  Somebody at the top needs to hear about this.  Those who have been affected, please do the same...

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[score_building]

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OntheHorizon wrote:

  Somebody at the top needs to hear about this. 

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Those at the top are calling the shots and making most of the business decisions that in turn impact their customers.  Yes it can be helpful to give feedback as a customer, however, those at the top are not unaware that some of their solid long term customers are now faced with cld's etc. (perhaps primarily due to 'market conditions' and not necesssarily because of their risky credit behaviour).  I am sorry this happened to you and so many others here, it's really just awful. 

Message Edited by score_building on 09-03-2008 07:33 AM

[wmarat]

I just do not carry any balances on my Amex. So far so good.

[Anonymous]

Just because you PIF- does not make you immune-

I PIF my AMEX's every month- 

Do you carry any balances on other cards?

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wmarat wrote:

I just do not carry any balances on my Amex. So far so good.

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[score_building]

In my experience Amex is one of the most fearful ccc's (seemingly almost to the point of paranoia) and v. quick to AA more than any other issuer if you carry balances with other creditors.  I am still busy riding the high of being granted a 10k limit on a clear card (now 2.5 and still being chased down, waa, waa) several months ago and recently benefitting from the resurrection of an old (1990) greenie to let go of my apparent pipe dream that i can find a way to fully fall back in their graces.  and yes, my first step is to pay down all my balances (but i had been doing that somewhat aggressively and would've/will continue to do so even if they hadn't cut my cl by 75% -oh dis!) to PIF may help reduce the odds of AA quite a bit but it seems it is no guarantee against it in this climate. 

[Anonymous]

PIF doesn't mean you won't be affected!  Look at Timothy's track record.      Advise your friends and family to check their available lines  of credit with Amex before scheduling purchases (personal or business cardholders) on their respective cards. 

There should be ONE  telephone number and/ address posted where people can write the people "at the top" making these decisions.  I wish someone would post it here on this forum.  

Sandy