Well, I know what to expect now!
Timothy, I really hate to hear them doing this to you, for your sake, and selfishly for my own as I know it means my day is coming!
I too put some balances on my Discover for the 0% and won't have it paid off for 2-3 months, so currently that card is at 60%. I also have balances on three of my catalogue/retail cards. I always pay those off in 90 days to avoid any interest(they do deferred billing) but right now they show balances of 30% of CL. I'm also AU on 3 of DH's cards and he's at about 18% overall utility right now which of course shows on my report also. And to top it off, we're buying a car in the next month or so and that will be something else for Amex to hate!
I am so upset by all this, as I just got my 3 Amex cards in April (Green, Blue and Delta). I've not used the Delta much and have been PIF. But I have a BT on the Blue!! And I really was not going to do that, (do the BT) but when I called customer service when I first got my cards for help with moving CLS, I was asked..even encouraged by the rep--to do the BT. I very clearly voiced my concern about the CLDs I'd heard about for carrying balances, and was assured this would not be a problem...and they stressed the BT 3.9% was set for "life of balance" as opposed to 6-12 months so you could "take your time" paying it off. He even suggested I reduce the Blue CL to match the amount I was BTing, and putting the rest of the CL on Delta (which I declined to do)!! I wasnt planning on taking forever (maybe 6 more months) as I do want to get it paid, plus having the BT balance really got in the way of taking advantage of the 0% introductory rate for purchases. Guess I'll be looking at one of my other cards to move this balance to!!
It is apparent Amex revolvers are not for people who are not PIFers on every account every month, which in effect eliminates the 'revolving" aspect of their cards!
It's so disappointing to read so many posts about them doing this, as I was so excited to become an Amex cardholder, and I thought their customer service was superb. But even before reading this post, I've been checking my Amex balance daily to see if they've done it to me.
I wonder if anybody out there has been able to forestall this action by contacting Amex if they think they be in jeopardy of this.....sort of playing offense rather than defense?! I've tought about doing so, but then thought maybe that's opening a can of worms.......
If I do manage to excape this dreaded CLD situation, I sure won't be using Amex cards for any future revolving purchases, and I'm sure gonna concentrate on paying these off ASAP. Probably will only use Green in the future, and DH will Gold, and other than that, we won't use Amex. It's not worth all the worry and aggravation!!
Message Edited by rom828 on
08-20-2008 09:32 AM
FICOS: TU 732(05-16-16) EQ '08 739( 05-16-16) EX 737 (08-17-16)