Dear Amex: I hate you. Love, Tex

[Anonymous]

So Amex unceremoniously closed our cards. I call to find out why my cards keep getting declined, and Satan's handmaiden explains that we had a payment returned as insufficient. Ummm, no we didn't. "Well, we pulled your credit, and it's reeeaaallly bad!" Those were her actual words.

Now, you want to pull DHs credit and close the account. Fine. You want to close an account he's had forever, fine. You don't want to do business with people who put +1000 on the card every month and always pay it on time, fine. You want to pull our reward points (23,000) just as we get enough to actually get something useful, fine. But your rude seventeen year-old CSRs are NOT fine. You stink!

[vawt]

Wow, that sucks.  Did you ask to speak to a supervisor?  I would nto let this go and would be calling constantly to voice my displeasure.  Its one thing if you were a problem, but if you are a good customer they should not have done that!!!

[Anonymous]

yeah thats sucks pretty bad...how could they complain if you always pay on time...ughh...but i seriously can not stop laughing at the title of this thread..lolololololololololol...i wish you luck resolving this

[Anonymous]

I know how you feel TexMontana I logged on my account a couple of days ago to see that my credit limit was decreased by $4500.00. I was livid to say that least when I called for an explanation at first they told me the company that I have my car loan through only loaned to risky customers. Then they said my credit score was bad which is ridiculous my Experian score is my lowest at 710. After I called back I spoke tosomeone from  the Adverse Actions department who at told me that I had too many balances reporting on other cards. I have 8 credit cards with balances reporting on 3 all under 20%. I know my score is gonna tank once my new $1400.00 limit with Amex starts reporting. I pay in full 80% of the time and if I can't I always pay at least 4 times the minimum. I will never do business with Amex again. 

[Anonymous]

wowzer-

[Anonymous]

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@Anonymous wrote:

So Amex unceremoniously closed our cards. I call to find out why my cards keep getting declined, and Satan's handmaiden explains that we had a payment returned as insufficient. Ummm, no we didn't. "Well, we pulled your credit, and it's reeeaaallly bad!" Those were her actual words.

Now, you want to pull DHs credit and close the account. Fine. You want to close an account he's had forever, fine. You don't want to do business with people who put +1000 on the card every month and always pay it on time, fine. You want to pull our reward points (23,000) just as we get enough to actually get something useful, fine. But your rude seventeen year-old CSRs are NOT fine. You stink!

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what bothers me is that two different and completely separate reasons were given for the decline. you were able to counter them on the original reason, so they pulled the second reason out of their posteriors.

you're not alone. amex is apparently doing this to just about everybody. many people are laying low so amex doesn't 'see' them and pull adverse action against them, either.

[Takunda1]

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.

[Anonymous]

No offense Takunda but that is crazy. There is no need to excuse Amex's behavior. They have a right to make these decisions but from the number of stories on this board they are going to hurt their business in the long run. All these revolvers who PIF and have CLD's or their accounts closed may have become charge card customers with high incomes.

Amex acts like they are the only game in town - especially for high incomers - but there are more options now than ever before. I don't have an Amex account and I am glad I don't. People can have enough drama in their life without a bipolar credit card in their wallet.

Sorry to hear the original posters story. I recommend you go to Citi, Chase, or BoA. Despite the current market, we have yet to hear of any of them systematically acting like this.

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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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[Scamp]

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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.

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Erm...original post did say that AmEx's claim of an NSF incident was bogus...

[Pants]

Here's what I think.. I had AMEX do that to me.. I had a card with a $7,600 limit.  I would say I had probably $2,500 on the card.. When we bought a trip to Cancun and charged it on AMEX.. It must have raised a red flag and they lowered my limit to something like $5,200  when the balance on the card was $5100.00. So I had $100 left on my card.

I have mixed feelings about this.  A credit card issuer has the right to adjust your credit card available balance and credit limit at any time. Credit is a privilage and not a right.

BUT...

I feel a credit card issuer NEEDS to inform why the limit is being adjusted. Saying it was based on your credit report is so generic its pathetic. Saying "based on your credit score" is another stupid excuse considering none of the card issues tell you what the minimum score is for you to qualify.

The same holds true for readjusting your rate. All of a sudden you look at your statement at the rate has been adjusted to 31.99% without a letter of explanation why. But it DOES say in the terms and conditions of the credit card they have a right to adjust your rate at anytime, for any reason or with little or no notice. You agreed to those terms when you took the card.. So it can be frustrating dealing with those weasels.