topic Re: Does any one know if Amex is closing the charge cards? in Credit Cards

Does any one know if Amex is closing the charge cards?

Red1Blue — Sun, 12 Apr 2009 02:04:29 GMT

I know Amex has been doing CLD / Closure of their Credit Cards. Does any one know if they are closing their charge cards?

Re: Does any one know if Amex is closing the charge cards?

smalldede — Sun, 12 Apr 2009 02:40:00 GMT

As a Amex Charge card card holder, before they want to close your account I think they will call you PIF anytime they want, if you can show them you are able to PIF , I think you still OK. All they really want is you PIF every hundred dollars you spend to minimize their risk!!! ( I think )

Re: Does any one know if Amex is closing the charge cards?

Red1Blue — Sun, 12 Apr 2009 02:49:13 GMT

I usually pay off the balance on my accounts every week or so. It does not matter to me any more. I dont want the embarrasment of my card card turned down for purchases. Amex will take the back seat in my wallet.

Re: Does any one know if Amex is closing the charge cards?

smalldede — Sun, 12 Apr 2009 02:59:40 GMT

I dont want the embarrasment of my card card turned down for purchases. Amex will take the back seat in my wallet.<---Yes, you are right I agree with you. Concorduser. Everyday using Amex , everyday is gambling , even you know you still have XXXX.00 available credit limt.

Re: Does any one know if Amex is closing the charge cards?

manyquestions — Sun, 12 Apr 2009 03:09:51 GMT

I have not heard of them closing charge cards. I think they would love to turn all of the credit cards into charge cards. It seems what they don't want is people carrying balances. The only AA on the charge cards is some have reported having their charge cards capped at $1000 spending before they make you call in and possibly pay it down before they let you charge again. But I have not heard of closures.

Re: Does any one know if Amex is closing the charge cards?

haulingthescoreup — Sun, 12 Apr 2009 03:15:19 GMT

There was one post here of a charge card (a Gold, maybe?) being closed, with the usual lack of notification and resulting embarrassment.

Only one post, though.

Re: Does any one know if Amex is closing the charge cards?

Watchmann — Sun, 12 Apr 2009 03:43:09 GMT

Why would they? Visa, MC and Discover charge are all solid programs, and there is certainly a market to provide revolving credit to the public. AMEX shouldn't ignore that market. It's just that way to too much credit was offered to people that shouldn't have gotten it. The entire industry is rejigging their extensions of credit, AMEX included. I don't see much sense in AMEX throwing in the towel and ignoring this huge market.

Re: Does any one know if Amex is closing the charge cards?

Scamp — Sun, 12 Apr 2009 14:09:45 GMT

concorduser wrote:
I know Amex has been doing CLD / Closure of their Credit Cards. Does any one know if they are closing their charge cards?

Concord, like HTSU, I can recall only one instance of a closed charge card, but I also seem to recall at least one other charge card holder on here having an actual 'hard' limit imposed on the card, as well as others having the option to pay over time taken away, if they had accepted that perk. Also, they may decide to lower your 'secret' limit, even if they don't take away the 'No Pre-set Limit'.

Re: Does any one know if Amex is closing the charge cards?

athensguy — Sun, 12 Apr 2009 16:26:47 GMT

@Red1Blue wrote:
I know Amex has been doing CLD / Closure of their Credit Cards. Does any one know if they are closing their charge cards?

There have been a lot of cases of cards that were cut off pending verification or having had hard limits imposed.