New Member
Posts: 4
Registered: ‎08-07-2007

Credit Card Problems

Okay, here's one I've never come across.  I recently applied for an increase in credit on all three of my American Express cards, really just to increase my credit score so I can lower my debt to line of credit ratio.  American Express unexpectedly put a hold on my account - I can't make any purchases which is a real inconvenience - and when I called they told me they need a tax return from 2006 to verify my income.  They need this to make sure I can pay off all of my debts if I were to max out all my cards.  Here's the killer though - if I don't send them one they threatened to cancel my account!  They CLAIM that I did nothing to trigger this "investigation" and that it's routine, but I suspect it's because of my requests for credit increases.  I have an almost perfect FICO of 773, I've never had a late payment with American Express, and I've ALWAYS paid my balance in full at the end of the month.  I've never given these guys a problem.  What's going on here?  Can they do this?  What should I do?  It's a real inconvenience to be mailing them transcripts of my tax return, not to mention it's a $39 fee.  I've called them and complained but they claim there is nothing they can do.  But I don't want them to cancel my acccount.  One more thing, if they do cancel my account (it would be involuntary I believe, right?), would that lower my FICO other than the fact that I will have less credit available?
Really looking for some help here!
Thank you so much!
Super Contributor
Posts: 8,164
Registered: ‎03-25-2007

Re: Credit Card Problems

Do a search on this board for "Financial Review"  :smileyvery-happy:
You will find a larhe number of threads and post moaning about AMEX doing this to them  :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

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