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Credit Card Problems

New Member

Credit Card Problems

Okay, here's one I've never come across.  I recently applied for an increase in credit on all three of my American Express cards, really just to increase my credit score so I can lower my debt to line of credit ratio.  American Express unexpectedly put a hold on my account - I can't make any purchases which is a real inconvenience - and when I called they told me they need a tax return from 2006 to verify my income.  They need this to make sure I can pay off all of my debts if I were to max out all my cards.  Here's the killer though - if I don't send them one they threatened to cancel my account!  They CLAIM that I did nothing to trigger this "investigation" and that it's routine, but I suspect it's because of my requests for credit increases.  I have an almost perfect FICO of 773, I've never had a late payment with American Express, and I've ALWAYS paid my balance in full at the end of the month.  I've never given these guys a problem.  What's going on here?  Can they do this?  What should I do?  It's a real inconvenience to be mailing them transcripts of my tax return, not to mention it's a $39 fee.  I've called them and complained but they claim there is nothing they can do.  But I don't want them to cancel my acccount.  One more thing, if they do cancel my account (it would be involuntary I believe, right?), would that lower my FICO other than the fact that I will have less credit available?
Really looking for some help here!
Thank you so much!
Message 1 of 2
Super Contributor

Re: Credit Card Problems

Do a search on this board for "Financial Review"  Smiley Very Happy
You will find a larhe number of threads and post moaning about AMEX doing this to them  Smiley Very Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 2 of 2