Anyone else have their American Express card closed?

[Anonymous]

Just wondering, because it happened to me during the "credit crunch". I miss that card, especially since I didn't own a car at the time and the rental-insurance option was a lifesaver. I also liked how I was able to check into my hotel in Japan even though I lost my wallet on the train.

I once had an American Express Blue card, but then all of the sudden AmEx decided to close the account on me. I was never late for a payment, nothing terribly bad on my report (example: collections, bankruptcy), but I did have a slightly high debt-to-limit ratio.

I never called or wrote them, but I'm not sure if it would have mattered since I hear AmEx is failry strict.

Account opened: 05/2007

Account closed: 06/2009

no late payments

"PAYS AS AGREED", whatever that means

commented as "Account closed by credit grantor"; which is true.

Just trying to learn the ropes.

[Creditaddict]

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@Anonymous wrote:

Just wondering, because it happened to me during the "credit crunch". I miss that card, especially since I didn't own a car at the time and the rental-insurance option was a lifesaver. I also liked how I was able to check into my hotel in Japan even though I lost my wallet on the train.

I once had an American Express Blue card, but then all of the sudden AmEx decided to close the account on me. I was never late for a payment, nothing terribly bad on my report (example: collections, bankruptcy), but I did have a slightly high debt-to-limit ratio.

I never called or wrote them, but I'm not sure if it would have mattered since I hear AmEx is failry strict.

Account opened: 05/2007

Account closed: 06/2009

no late payments

"PAYS AS AGREED", whatever that means

commented as "Account closed by credit grantor"; which is true.

Just trying to learn the ropes.

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I would say to work your way back into Amex door with a charge card product instead of revoling... But you have to get that Util. down before that will happen.

[crunching_numbers]

They did something similar to me. They did a CLD from $12K to $1K.  In my lack of knowledge, i had let the card sit idle for a while. Then I decided to use it for a vacation.  While I was in the air, they cut my CL (got the letter when i got home, a bit too late to save me embarassment). I went to pay my hotel bill and the charge would not go through. I called and they told me that they had CLD's me from lack of use. They were happy to put it on my Gold card however. My Util is high now, and it was probably high then as well. I guess I should feel lucky that they didn't cut me off altogether. There were a couple of other issues, and needless to say, I now have to work my way back into their good graces. I think it will be Oct or Nov before they are happy with me again..

[Anonymous]

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Creditaddict wrote

... with a charge card product instead of revoling... ...

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I actually don't understand what you are saying?

[halos24]

Creditaddict is saying best you try to get back in w Amex with one of their charge cards such as the green, gold or Zync (I have that one). You just have to PIF after the statement cuts what you charged on the card. I opened a Zync then 2 months later I opened a revolver card Amex TU. I would certainly get your util down and the. Your scores should also improve.

[Anonymous]

Charge cards are slightly easier to get than revolvers (credit cards) b/c they pose less of a credit risk since you must PIF each month rather than revolve a balance. It is not unheard of to get approved for Zync, Green, and even Gold with scores in the mid-upper 600s. On the other hand it seems that 700+ for the Blue revolvers is the general rule of thumb. Years ago the Delta Gold revolver was supposedly one of the easier revolvers to get but I don't know whether that's true anymore.

[Anonymous]

That makes since now... I've never heard of "Charge Card", other than some old fashioners calling credit cards "charge cards". I looked it up, and its like a revolving line of credit.

I'm still learning.. just a little late.

[Anonymous]

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@Anonymous wrote:

That makes since now... I've never heard of "Charge Card", other than some old fashioners calling credit cards "charge cards". I looked it up, and its like a revolving line of credit.

I'm still learning.. just a little late.

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It's actually not a revolving line of credit b/c you can't carry over a balance from month to month. Credit cards allow you to do that (and pay some hefty interest charges in the process) but with charge cards you must pay your balance in full every month.

The Amex charge cards are Zync (white), Green, Gold, PR Gold, Platinum, and Centurion (black).

I think Diner's Club used to offer a charge card (maybe they still do) but most banks these days are exclusively credit card issuers.

[improvingmycredit]

Hey Volpes!  Welcome to the FICO Forums:

It gets a little difficult to understand all the different abbreviations here.  There is a good link to help you:       Common Abbreviations              

This should help you also with the references to "charge cards" and "credit cards"

charge card =  must pay in full every month upon receiving the bill

credit card = can pay the full bill or pay the minimum or more upon receiving the bill

Amex has two types of products:  charge and credit

Most here would recommend getting a charge card to get back in with Amex as these typically are easier cards to get then their credit cards.

Hope this helps  

[LS2982]

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@Creditaddict wrote:

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@Anonymous wrote:

Just wondering, because it happened to me during the "credit crunch". I miss that card, especially since I didn't own a car at the time and the rental-insurance option was a lifesaver. I also liked how I was able to check into my hotel in Japan even though I lost my wallet on the train.

I once had an American Express Blue card, but then all of the sudden AmEx decided to close the account on me. I was never late for a payment, nothing terribly bad on my report (example: collections, bankruptcy), but I did have a slightly high debt-to-limit ratio.

I never called or wrote them, but I'm not sure if it would have mattered since I hear AmEx is failry strict.

Account opened: 05/2007

Account closed: 06/2009

no late payments

"PAYS AS AGREED", whatever that means

commented as "Account closed by credit grantor"; which is true.

Just trying to learn the ropes.

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I would say to work your way back into Amex door with a charge card product instead of revoling... But you have to get that Util. down before that will happen.

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+1