topic Re: Hello All AMEX IS THE DEVIL in Credit Cards

Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 06:22:58 GMT

First time posting, but have read the forums for years. So I got home checked my email and saw an alert to pay AMEX, I have 3 Cards, BlueSky, Gold Charge, and Platinum Delta. Well I logged on and ALL CARDS CANCELED!!!!!! I had an 11.88 balance on my Gold PIF everymonth I am so LIVID. How is this going to affect my FICO, I am so disgusted with AMEX, the "account manager" was of no help and said sorry have to wait to apply in 3 months. I have been with them for 3 years, EQ 787 TU 777 EX FAKO 757.....NO LATES, no baddies, Paid my mortgage down from 300k to 100k after 1 month closing using some investment money. So ya, i only have my Discover More card now, only a year old with 8k limit....Should I apply for any cards??? I have no INQs on EX, EQ, and 1 on TU (discover in Jan)....Ahhh so mad!

Oh BTW...all amex have Zero balances, Discover is 331.44 but gonna pay like always 5 days before statement cuts. The only card I thought about applying for was the Nationwide or StateFarm as I have homeowners insurance with N and Car with Statefarm.....My AAoA is 5 years oldest TL 19 years...UTL 2%

Re: Hello All AMEX IS THE DEVIL

michaels88369 — Fri, 06 Aug 2010 06:53:11 GMT

I know exactly how you feel! I tried to use my Zync card today and it got declined. I called the number on the back and they cancelled it out of the blue. They said my credit report has changed since opening the card. My uti has went up by 7%.. WTF.... They will not re-open my card until I pay the balance off(which I was going to do before statement) then call back to "see" if they will reinstate it. Im beyond pissed with Amex right now too. Im about to say just screw them if they want to treat new( 3 week old card) cardholders like this. Any suggestions?

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 07:14:18 GMT

I have had nothing Change in at all aside from my Mortgage owed being cut by 75%, which last I heard paying debt is good! 3 years down the drain, I have been surfing on the web, I havent applied for a card aside from Discover in Jan. in 2 years. I already am considering a Citi/SmithBarney Card....Nationwide/StateFarm....Barclays Gcnomomy Card....and OfficeMax Visa Signature (shop often for my company) But very undecided I know I can get approved for any card, I just dont want to waste lowering my AAoA and INQ on a substandard AMEX-like card. I want a stable non-pms creditor, which again nothing bad is in my report and I am psychotic about my credit! Hopefully someone will chime in with suggestions, I also am worried about what the closure by grantor will do to my FICOs and how bad an impact the oldest OPEN cards will be since they are now closed, Thank god my old Chase, BOFA cards from the 90s with 30k limits are still reporting. Bad day....just want one more good credit card for a backup, Love discover but still need a 2nd card.

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 08:04:33 GMT

Any time a creditor takes adverse action against your account they have to send you an EEOC letter with the specific reasons why the AA was taken. What specifically did they give you as the reason(s) why your accounts were nuked?

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 08:16:12 GMT

They didnt send a letter, but over the phone couldnt understand the rep, but something to the effect that the Discover card reported i didnt PIF! STUPID I KNOW!

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 08:17:20 GMT

So when should I get the letter? I hate them I used to be such a Fan, any suggestions on new card? is my fico going to dive?

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 08:44:32 GMT

@Anonymous wrote:
So when should I get the letter? I hate them I used to be such a Fan, any suggestions on new card? is my fico going to dive?

I forgot exactly what the time requirements are, but something like it must be sent within 5 days of the AA.

I'm not sure about your FICO score. Does this effect your overall utility?

Re: Hello All AMEX IS THE DEVIL

Creditaddict — Fri, 06 Aug 2010 09:27:36 GMT

I'm sorry but I didn't see a reason why your accounts were closed? it's one thing for amex to decrease limits but to cancel 3 cards sounds major.

Re: Hello All AMEX IS THE DEVIL

score_building — Fri, 06 Aug 2010 13:32:09 GMT

@Anonymous wrote:
They didnt send a letter, but over the phone couldnt understand the rep, but something to the effect that the Discover card reported i didnt PIF! STUPID I KNOW!

Seems implausible that a rep would site a specific reason (they cannot know if you PIF Discover, just because a balance reports is not a reliable indication of PIF, you may have PIF before the due date and still have a balance report)

Not part of SOP for an issuer to site an illegal action like universal default to substantiate closure. Perhaps the letter will provide better feed back.

In any case, sorry to hear it.

If you ever choose to rejoin amex you can retain the age of the earliest acct you opened with them.

Re: Hello All AMEX IS THE DEVIL

Cory — Fri, 06 Aug 2010 13:56:18 GMT

WoW!

Someone's card was cancelled after only three weeks? My goodness. I am terrified now. I think to avoid something happening to me like this, I will consider cancelling my Zync Card in advance and make AMEX job easier for them.

Re: Hello All AMEX IS THE DEVIL

score_building — Fri, 06 Aug 2010 14:08:52 GMT

@Cory wrote:
WoW!

Someone's card was cancelled after only three years...

Fixed... keep using your card and building history with Amex.

Re: Hello All AMEX IS THE DEVIL

Cory — Fri, 06 Aug 2010 14:14:37 GMT

@score_building wrote:

@Cory wrote:
WoW!

Someone's card was cancelled after only three years...

Fixed... keep using your card and building history with Amex.

Did I type three years? I meant to type three weeks. Sorry, lol. I probaly should have never gotten the card in the first place. The only reason I did apply was because of the mighty "AMEX" name brand. Not a reason to get one, but hey you know I was desperate. I thought I would feel good pulling one of those out of my wallet. But when a moment of truth hits, no one never looks at it or cares. Okay, so I'm a little bit sarcastic.

The charges I could utilize are $150.00 every two weeks on it for food every two weeks, and pay in full. All of my other monthly bills are set-up directly to other card for usage. I plan was to just let the card sit in the back row of my wallet.

Re: Hello All AMEX IS THE DEVIL

score_building — Fri, 06 Aug 2010 14:26:08 GMT

Cory, sorry if I misunderstood, I thought you meant the OPs cards were closed after three weeks, so I changed it to show that OP said he had his cards for three years. sorry if you were talking about something else, I'm also a fan of a full migration to CU but will keep the big boys active for diversity.

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 17:32:10 GMT

Yes, They pulled my experian that shows a balance history on Discover and although I PIF, 2 Months ago I paid 2 days before statement cut. They saw at "risk" and closed all three!!! I dont care at this point, they robbed me of 20,000 membership points, 44K of Delta Miles, and 22K of Credit. I dont want to rejoin that group of morons, Others can disagree but they SUCK. I cant wait to get the letter and read the bs! On another note, anyone have suggestions for another card? Also when will the CRA be informed as all are still showing as open?

Re: Hello All AMEX IS THE DEVIL

haulingthescoreup — Fri, 06 Aug 2010 17:48:42 GMT

I know you're incensed at them now (and you have every right to be), but since you lost all those points, I'd be calling back and politely but firmly escalating.

If the only thing that has happened was a balance posting on Discover, this shouldn't have happened. I've had balances posting on other cards while I had AmEx cards, including some good-sized balances due to BT's, and they've never said a word.

I think that back when AmEx first starting chopping accounts not quite two years ago, some members were able to at least get their rewards points back, but it took a lot of work. (And it might well have been Citi or one of the others.)

But I'd be furious at losing all those accumulated points, and I sure wouldn't want to walk away quietly. Good luck.

Re: Hello All AMEX IS THE DEVIL

michaels88369 — Fri, 06 Aug 2010 18:44:13 GMT

Yes they cancelled my card after 3 weeks. I will pay them in full and call back to see if they will reinstate my account. Im going to be super pissed if they say no. They had better refund my 25 pack fees and my 15 extra card fees too. Im not going to be out all that money and them not reopen my cards. Amex is the devil like the post said.

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 19:14:29 GMT

Thanks to the second above post....I was able to get my DELTA points but no membership rewards....Thank god they agreed to at least give my miles as I can get two plane tickets to Chicago now! I am eagerly waiting for the letter, and I don't want to violate TOS but the "outsourced" personnel are not exactly clear when asked why account was closed....Hmmhmm but whatever I am over AMEX, just a CC I applied for the Nationwide and was approved just now. Didn't say how much hopefully this card will be stable. Thanks

Re: Hello All AMEX IS THE DEVIL

michaels88369 — Fri, 06 Aug 2010 19:40:33 GMT

I will keep you and the board posted when i recieve my letter, please do the same.

Re: Hello All AMEX IS THE DEVIL

Anonymous — Fri, 06 Aug 2010 19:56:25 GMT

Hey man sorry this happened to you. I hope the new CC gives you a great limit.

My brother has amex but he also has a charles schawb card and he says that it has better rewards. Possibly check that out with your scores.

Let us know what your limit is.

Re: Hello All AMEX IS THE DEVIL

Cory — Fri, 06 Aug 2010 20:18:36 GMT

@Anonymous wrote:
Thanks to the second above post....I was able to get my DELTA points but no membership rewards....Thank god they agreed to at least give my miles as I can get two plane tickets to Chicago now! I am eagerly waiting for the letter, and I don't want to violate TOS but the "outsourced" personnel are not exactly clear when asked why account was closed....Hmmhmm but whatever I am over AMEX, just a CC I applied for the Nationwide and was approved just now. Didn't say how much hopefully this card will be stable. Thanks

Hi CristoSullivan,

I am so, so sorry to hear that AMEX did that to you. You should try PENFED CREDIT UNION for a card. With your scores, you should be able to get any card you desire.