AMEX cancelled by AMEX?

[PayYouNever]

Strangest thing happened to me today, I signed on to my online AMEX account to dispute a charge and I find out that the account had been canceled??!?!

Back in late October I changed my Delta Skymiles AMEX to an AMEX Blue Sky, but I never received the new card (I'm assuming that it was lost in the mail when I moved and filed that change of address with the post office).

Has anyone had AMEX close their account without notice? I had a paltry balance of $478 and I hadn't been late with a payment in over a year. I know my FICO has been dropping of late because of I've been disputing items on my CBRs and disputing with the OCs and CAs, so I know my FICO is probably in the low 500s, but this seems a little insane considering there was no notice from AMEX that they intended to do this.

Something similar happened earlier this year, when I paid down my $4000 balance to just under $600... AMEX lowered my CL to $600; no explanation, no notice, just on my next statement the CL has been dropped by $3400!

At the moment AMEX's computers are down, so I can't call to actually find out what's what.

Has this happened to anyone else?

[Red1Blue]

Lately Amex is going finiky and wierd. I feel bad for you about reducing the CL. That must hurt your scores real bad. Make sure you another card from Visa or MC.

[Anonymous]

The second thing happened to my husband's AMEX account (I am AU).  We completely paid if off when we refinanced our house and they immediately dropped the CL to one-half what it was before.

Chase and B of A dropped the CLs even more drastically.  We had maxed out everything and we paid for it.  The only card that didn't lower was Discover, and it was maxed out, too.  I learned a valuable lesson here, because some of those CLs were over 20K, and they were lowered to, in some cases, $1,500.  We had never been late on the AMEX and the other went 30 days during the refinance which was completely my fault.  Our credit scores have really suffered, too.

[Anonymous]

Try calling a rep.  That may only be the old account showing closed because the new card has been issued.  I would definitely call if you have an Amex lost in space.

[Anonymous]

JemiBlue wrote:

The second thing happened to my husband's AMEX account (I am AU).  We completely paid if off when we refinanced our house and they immediately dropped the CL to one-half what it was before.

Chase and B of A dropped the CLs even more drastically.  We had maxed out everything and we paid for it.  The only card that didn't lower was Discover, and it was maxed out, too.  I learned a valuable lesson here, because some of those CLs were over 20K, and they were lowered to, in some cases, $1,500.  We had never been late on the AMEX and the other went 30 days during the refinance which was completely my fault.  Our credit scores have really suffered, too.

Sorry Jenny. that is why these are cards I will never have.  Chase, BofA and Amex are just plain scary.

[Anonymous]

Yes. My charge card was cancelled because it was late. They closed my blue card which was good and sent it to COLLECTIONS.

[inquring_minds]

Hi Brammy,

If I may ask, what cards do you have that you choose not to do business with Chase & Amex?

You guys are scaring me as I have cards with Amex, Blue $3K CL and Optimum Platinum $2K CL.

[Anonymous]

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inquring_minds wrote:

Hi Brammy,

If I may ask, what cards do you have that you choose not to do business with Chase & Amex?

You guys are scaring me as I have cards with Amex, Blue $3K CL and Optimum Platinum $2K CL.

---

Actually inquiring, I try t research cards before I apply.  Consensus is that BofA, Chase and Amex have very scary practices.  Amex's famous F/R is self-explanatory (there are just certain things will not do and some don't seem to be triggered now that they are expanding their consumer base).  Chase is infamous for rate-jacking. I have also read enough of their T&Cs on preapproved offers that they make me nervous.  Not only on the boards but a close relative who has never been late and will only occasionally (I mean VERY occasionally) float a balance, like when she purchased a house full of furniture and paid it off in two billing cycles, didn't even know her rate was a whopping 19+ percent.  Never paid attention to it.  BofA is also infamous for CLDing and rate jacking.

Those plus Junny are banks I don't care to do business with.  The rates aren't that great unless your profile is uber-prime.   I don'tlike doing a dance to keep anyone happy.  Right now I have decent rates for my profile and am building some pretty good relationships.  I can't imagine what would have happened to either of those accounts this month if the balances that I mistakenly allowed to report this month had shown up with them as alternate lenders.

These banks seem very unforgiving about temporay drops in score and I don't care who you are, that score will fluctuate, especially around the holidays.

BTW Chase just peeves me off to boot due to my CC card....  

[haulingthescoreup]

Hi, Brammy, can you clarify on what sets BofA off? (also looking at jenny's post)

DH has a AAA BofA that he BT'd his Discover balance to. The twelve months are up at the end of March. He has used it some for new purchases, until he wised up. If he (read: I) pays off the balance before the 0% BT period, are they going to CLD the card? That's what I thought I read, but I'm not sure about the sequence of events.They've CLI'd him to $16.6K, I think it is.

If this is what they do, how does he prevent this? Go out and buy me something really nice on March 28? (that would be my vote! )

I'm also looking at the possibility of getting one in my name to use for appliance purchases etc come remodel time. I'd like to be able to keep a balance on the fool thing throughout the 0% period without them telling me to bend over and cough! thx

[Lawlover2]

Amex cancelled my  OASIS card 8 months into it - even though I paid an annual fee up front.  When I called, it was past their time for review but they told me if I would have called w/in 3 months of cancellation, they would have reconsidered.  What is interesting about it is that I was never late and never went over 1/3 of the $800 CL.  My credit score didn't drop, I didn't have any new credit or credit requests - it was just unexplainable.  I am DONE w/ Amex.  If truly want the card, call and ask for reconsideration immediately.