Dear Amex: I hate you. Love, Tex

[Anonymous]

Credit card companies should only be able to punish you for continual usage problems.  If there is a single NSF in a long history and it is immediately rectified, if you go on vacation and spike your balances one month,  etc should not hit your credit limit or be cause for closing an account.

Now, if having pulled soft pulls over a couple month period they start seeing patterns that don't sit well with the, then by all means take action.  the same goes with mutliple NSF or a single NSF on a newer customer (say 1st 12 months) 

This is all just a way for them to charge more and it is a crock of S%^T.  PERIOD.

Credit is suppossed to be based upon patterns or responsibility and ability to pay. 

Also, CC companies should be required to send written notice PRIOR to changing limits, etc.  I know if I was on vacation and went to check out of my hotel and my limit had been dropped because I had
"overspent" my credit while I was away I would be furious (this happened to someone I know and they had to wire money to pay the hotel tab...) and would never do business with that bank again and would be posting on every board I could fins about it.

[saltlakere]

This is kind of an industry wide thing with B of A and WAMU pulling the same kind of stuff. I understand there's a credit crunch, but as usual, the management is taking it out on the wrong people. Besides complaining to the companies with these policies, legislation is being considered that would protect consumers. If you're truly concerned about activities like this, write your Congressperson and voice your beliefs.

[Anonymous]

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debtisgood wrote:

 People can have enough drama in their life without a bipolar credit card in their wallet.

I'll never have an AMEX.

[Anonymous]

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Takunda1 wrote:

Guys I can understand your frustration, but understand that these compnies need to remain in business. To do that they need to minimize risk. If someone has an NSF that is considered High Risk and is sufficient reason to pull the plug. If after account review, your credit has not improved over a period of time then you are still high risk and will be subject to the actions that the company thinks best to help its bottom line.  As an individual one may know they are not risky but because as a business we have to go by trends that are used in the industry. Unsecured debt is whats causing a lot of companies headaches right now. My suggestion, open a bank account with rewards like Cahse or Citi and use you own money as you please and as long as it is in yor bank account, your bank will never withhold it from you.

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As per my original post: We DID NOT have a NSF. Period.

My point is this: If you wanna close the account, ok- fine. But there's a way to say things in a business-like manner: YOUR CREDIT IS REEEEAAAALLLYY bad! Or, I'm sorry. Your credit report does not meet our requirements. Which do you think helps the bottom line?

I have credit cards, and bank accounts. And I DID have rewards from Amex. I think it stinks that we earned those rewards by spending on their card and paying our bill and they yank what they owe US.