I posted a week ago about my Platnum limit being decreased and was told I shouldn't get emotional. lol Is it different for Gold card holders? Are they allowed to get emotional?
People say that it is business, not personal. Sure. Amex has free will to do whatever they want if all of a sudden they don't trust their customers. But what about those people that are trying to actually run a business on Amex cards and can get capped all of a sudden without notice? That could do serious harm to their business. What if for 12 months your business spends $5k per month then gets a big contract where your need to charge $15k? Are you just sh*t outta luck with Amex?
We had a major windfall coming the DAY AFTER AMex decided to nuke our spending limit. Charges started getting declined. **bleep**? They just poo-pooed close to $6k in transaction fee revenues because they got spooked by the normal ebb and flow of util? No one's scores or util flatlines forever. There are always peaks and valleys. No one should have to worry that Amex, at whatever time they deem necessary, will embarras them at the cash register by declining a purchase. That's stressful. ANd yes, I still say people are paying for that added stress with hefty AFs. I'd expect more from a premium card.
Point is, Amex isn't building any longterm relationships by doing that crap. Sure, they can stand to lose however many custmers. But in the age of social media, word gets around. They don't want to be known as the card company no one can trust.
Last point. People may have access to cash that Amex doesn't know about. I don't report ALL of my assets to banks because they don'tneed to know. People my be expecting windfalls like bonuses, etc. that Amex doesn't see. I agree with those who feel that history and NO late payments on your report should account for something. Sure a person's util may be high, but at least everything is getting paid.
No one should get punished for using financial vehicles as intended. My util always gets high before a windfall like my yearly bonus. Then it goes down below 20% again. Amex's algorithm should see that in our 11 year history together.
Flame on! 
with every Amex complaint post, there are usually a handful of posters that always rush in and regurgitate the same thing. This creates an echo chamber that makes the noise louder than it really is. Fact is, there are millions using their cards with zero issues.
Again, BOA closed all his accounts. Amex did not close his revolvers. They did not even CLD them. He can easily charge the $3000 on any of them if they’re not maxed out.
Point is, We don’t know the whole picture. Amex does. They capped his limits to mitigate their risks. Nothing wrong there. SJ did not like their approach and canceled his card. Nothing wrong there also. It’s his prerogative to do just that. I really don’t get what all the angst is about. Or is it simply because it’s Amex?
Again, BOA closed all his accounts. Amex did not close his revolvers. They did not even CLD them. He can easily charge the $3000 on any of them if they’re not maxed out.
Point is, We don’t know the whole picture. Amex does. They capped his limits to mitigate their risks. Nothing wrong there. SJ did not like their approach and canceled his card. Nothing wrong there also. It’s his prerogative to do just that. I really don’t get what all the angst is about. Or is it simply because it’s Amex?
