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Don't bother with AMEX credit cards

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Anonymous
Not applicable

Don't bother with AMEX credit cards

I am taking a position to never recommend any AMEX revolving product ever again. 
 
Green, Gold and Plat charge cards are OK-
 
I have been a loyal customer for over a year- ALWAYS PIF and they CLD me? 
 
Yes- I am sure this is because of carrying some 0% offers for a few months that I just paid off so I can apply with USAA.
 
 
Message 1 of 183
182 REPLIES 182
Anonymous
Not applicable

Re: Don't bother with AMEX credit cards

I just zeroed out my balances on all my AMEX cards-
 
Changed to auto bills to the green and took the cards out of my wallet- 
 
I might take a few months to stop using the green-
Message 2 of 183
Red1Blue
Super Contributor

Re: Don't bother with AMEX credit cards

Sorry to hear what they did to you. I know it is upsetting to you. But did you think you are immune or invisible to Amex all this time?  What is the balance and how long did you keep it before they did CLD?
Message 3 of 183
Anonymous
Not applicable

Re: Don't bother with AMEX credit cards

Honestly, who cares what his balance was and how long he carried it. We need to remember that there is a world full of people that don't read this forum and Amex is doing the same to them with no warning. All these folks that apply for the REVOLVING AMEX cards, because that is what AMEX tells them they are, that end up only getting screwed a few months later because they are doing exactly what they were told they can do. It's total B.S....you apply for a revolving card, they give it to you, you hold a balance for a few months, all the while paying on time and liking more than the min. payment and then god-forbid you pay it in full...what a horrible thing to do... I mean really...they are out of hand.
 
Again, pretend this forum doesn't exist to you, how devastated would you be if you didn't have all these 1st hand experience to lighten the load? You're just Joe Schmoe from down the street, you're about to buy a house in a few months and Amex just brought your utilization up from 20% to 50%...ya know?
 
It's really total crap. There is no reason for this whatsoever. Why don't they just do away with the revolving cards and stick to charge cards?  It's obviously what they want.
 
(P.S....I have yet to even apply for an AMEX ever, so this is not coming from the perspective of someone that has been burned by them)


Message Edited by UpUpUp on 08-20-2008 11:15 AM
Message 4 of 183
Anonymous
Not applicable

Re: Don't bother with AMEX credit cards

Home Depot has been 4-5 months 60% of CL
Discover- 3 months 40% of CL 
 
So about 10K - I just recently zeroed out ALL of my revolving balances-
 
I have been running 4 to 6K a month though AMEX- so this number should not be a big deal- 
 
I just won't recommned their revolving products.
 
 
These will both update with zero balances next week-
 
 
Message 5 of 183
Red1Blue
Super Contributor

Re: Don't bother with AMEX credit cards

All I have is Amex Platinum Charge Card. Every time I apply for Amex Revolving card they decline my app and they are saving me grief, so I dont have to worry about they doing CLD for me. I do understand how others feel, especially people in this forum who knows well how Amex would react. I am glad I dont have Amex Revolving Card and I am not looking forward to one. I am glad I have Citi and National City cards each with over $15k CL. I am sure Chase and BOA will match these limits on their cards soon and save me from Amex.
Message 6 of 183
Anonymous
Not applicable

Re: Don't bother with AMEX credit cards

Tim, I am really sorry this happened to you.  I think the only plus side to this is that once you can recover from the loss of the CLs we can all safely assume that if you want an AMEX you are best with the charge card version or none at all.  I was really starting to think about the Blue Sky as I posted recently...and even though I am a PIFer on all my cards now, I still don't know if it's worth the risk with them.  And, again, I think all of us on this forum are one leg up on how they work, I really feel bad for the average consumer that comes home and opens the mail to find out what AMEX has done to them. It's just disgusting.
Message 7 of 183
Anonymous
Not applicable

Re: Don't bother with AMEX credit cards

Wow, Amex strikes again.  This is incredible.  I'm sorry this happened to you, Tim.  Amex is indeed a very bizarre and unpredictable creature that can often strike without warning.
 
I blame MV for this, for pointing out the lack of "Woe is Amex" threads.  I think he jinxed us! 
J/K, MV! Smiley Wink


Message Edited by lurknomore on 08-20-2008 08:36 AM
Message 8 of 183
rom828
Established Contributor

Re: Don't bother with AMEX credit cards

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)
Message 9 of 183
Anonymous
Not applicable

Re: Don't bother with AMEX credit cards

Yea. That's why I keep Amex as my second lowest CL and keep away from the luv button.
Message 10 of 183
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