American Express cancelled my green card. Please help??!!

[Anonymous]

I'm so disappointed! :-( Amex cancelled my green card after me only having it for 3 months. When I first got the card I was calling in a lot with a lot of questions since this was my first charge card and I wanted to make sure that I was going everything correctly. I was told by several representatives that there was a small grace period that you are allowed to pay after your due date. My other balances were paid without using "grace" period all except for this last balance. I asked Amex to pull up the phone conversations to verify what I was told. The first rep that I talked to immediately after I got the email about my account being canceled asked me if I wanted to put in for reinstatement and of course I said yes because I really like having the card. I didn't like the fact that he have me all these other reasons for canceling when I thought the reason for me being cancelled was because my payment was paid on the 30th instead of by the 28th (which was still earlier than the time I was told by the representative that told me that I still had days after the 28th). He told me that the decision was made based on my credit report when nothing has changed since I was approved for the card in the first place. I'm so upset and confused and I was definitely misinformed. I'm sorry if I'm rambling too much but im just upset. I'm worried about how this will report on my credit report if they decide not to reinstate my account. I'm working a hard to make sure that I maintain healthy credit. I even went and got a new installment loan since we were needing to buy new mattresses anyway. I have credit monitoring service and they recommended I get an installment loan so I did. I bought a mattress for 1900.00 but was approve for 4400.00 to make purchases through Wells Fargo. Can someone please let me know of they have ever been cancelled by Amex? Have you ever been reinstated? I feel like a failure a little bit because I do my best to make sure I'm doing the right thing with my credit. Please help. Thanks.

[Anonymous]

My question is did you get written "Terns and Conditions" with the initial card (AX is required by law to send them to you)? If you did the rules of the game are contained in the T&C. Nothing else will override the T&C but legal written amendments issued in writing to the cardholder in accordance with the applicable laws. CSRs or others do not have authority to override the T&C. Even promos carry temporary amendments. Certainly hope you would not get cancelled due to frequency of contact with AX! Scares me.

[ExplicitElicit]

Are you sure this Wells Fargo loan is reporting as an installment loan?

[Anonymous]

Yes I did get them but I didn't read them because I thought what the 5 different reps I spoke to was telling me was correct. For instance They were telling me that if my statement closing date is April 28th my payment date is May 28th my suggested pay by date is May 13th Though. Now back to the 28th date I as told as long as I pay by the 7th of June I wouldby be late or my account will not look bad. However that was not the case. For the time I had the card I mame several payments throughout the month. I never waited to the last minute to pay the lump sum. I'm just concerned about how this is going to look on my report and I'm concerned that they will never give me another chance. I understand that I should've read the terms but I though speaking to someone that was trained by the company and works for the company could tell me the info I needed. I guess that was a big mistake because in the end it doesn't matter what they told me even though the calls were monitored. 

[Anonymous]

I just got approved for it last week. When I check my identity protector the inquiry came up as "installment loan". So that means that's what it is, correct? I know I have to wait for my first report from Wells Fargo to see what category they put the account under but as far as I'm aware I filled out for an installment loan. 

[Anonymous]

In a follow-up, you will find reading many of the various postings on this website a mix of satisfaction with CSRs. Often calling the same phone number finds different answers to the same question. Going way back when life was simpler you could receive the type of info you could take to the bank (what you had expected). Today it seems it is more important to have someone answer the phone and as to their accuracy oh ... we don't worry about that (most unfortunate). Since you mentioned getting the bill with the idea you had to pay before closing for the next one that would seem logical. In my past I had the Green AX and liked it. Others on this site may hopefully offer some method(s) you could use to redeem a most unfortunate situation.

[Anonymous]

Thanks 

[Creditaddict]

1. While Amex does have a somewhat not set in stone grace period, that is something the average person should not count on but fall back on in a rare emergency and it's really after you have a long established Amex history... The due date is the due date for all credit... rather a bank then does a grace period before they charge you a late fee or report late to your credit is another thing.

2. Pay the amex balance off, then ask for it to be reinstated again... if they won't... continue to build your history and pay your balances down or off and in 6 months, apply for a new charge card.

3. don't listen to some credit tracker thing of which type of credit you should get and get it just because... hopefully you really did need this mattress and you didn't put yourself $1900 in debt just because this thing told you it would help your credit... many people have near 800 credit scores and don't have a good "credit mix".

Use the monitoring services for only that, monitoring what is reported on your credit reports, not the score it gives you or suggestions it gives you.

[Anonymous]

That's another thing. The rep that helped me immediately after I got the email about cancellation asked if I wanted to reinstate and I told him yes of course because I didn't want to lose my card but he never told me that I should pay balance first before asking for reinstatement. I actually found out the next day after I called and spoke to another rep she said that the first rep should've recommended that my ba lance be paid off before asking for reinstateMent. I had already had the payment pre scheduled though. I'm just sad about this whole thing. And yes we were going to be buying new mattresses anyway. I have a bad back and our old mattress was a firm and I cannot use firm anymore. So instead of using my debit card to pay I applied for interest free for 24 months through Wells Fargo and got the mattresses that way. 

[gdale6]

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@Anonymous wrote:

That's another thing. The rep that helped me immediately after I got the email about cancellation asked if I wanted to reinstate and I told him yes of course because I didn't want to lose my card but he never told me that I should pay balance first before asking for reinstatement. I actually found out the next day after I called and spoke to another rep she said that the first rep should've recommended that my ba lance be paid off before asking for reinstateMent. I had already had the payment pre scheduled though. I'm just sad about this whole thing. And yes we were going to be buying new mattresses anyway. I have a bad back and our old mattress was a firm and I cannot use firm anymore. So instead of using my debit card to pay I applied for interest free for 24 months through Wells Fargo and got the mattresses that way. 

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Sure people have been reinstated, personally I would just move on, I will go on record of being against Amex Centurion Bank, they have been nothing but a pain in the rear not only to myself some 30 yrs ago but to other members of my family and friends, all of us have moved well beyone this creditor and I suggest you do the same... Good luck in whatever you choose to do