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1. Save Money Using Credit Cards, June 11, 2008:
   

   I’ve never had my credit limit decreased by American Express, but I only have two cards which one is is used for personal expenses and one for business expenses.

   Do you think that because you have (had) six accounts with them had anything to do with lowering you’re credit line? Sometimes adding or removing credit lines will reduce your FICO score.

   Even if your FICO was lowered, it really doesn’t matter until you go off and apply for a long-term debt obligation.

   But if you’re carrying short term credit card debt beyond a month, I would recommend paying that off since a lower FICO score will certainly cause interest rates to rise.

2. Liz, July 10, 2008:
   

   The thing is that they shouldn’t get away with treating us – their customers – like this; decreasing credit limits BEFORE sending out any info about that seems to me like the wrong order of doing things, although I’m aware of that it’s legal…
   I’m putting together a report regarding how lenders handle these matters, and I’ve received several copies of “credit line decrease info-letters” already; but I’ll need more to get a strong case on behalf of all customers here.
   So – if any of you guys still have a copy of the letter, I’d love to see it! Just leave out all personal information, that stuff is – naturally – of no interest to me.
   Thanks!!!!
   Liz

3. suzee, July 29, 2008:
   

   F*CK AMEX! I have been a loyal customer for years and have a platinum, blue and nyc card. Today I find out that they reduced my available credit from 30k on my blue from 25k on my nyc card!!! What the hell. They brought it down to my balance on both (approx 5k) thanks for the shot to my credit report a$$holes. Those cards will be closed tomorrow and the only business they will get will be from my Platinum card. I have excellent credit, make $$$ and have never ever been close to making a late payment. They are stupid as hell in this economy to piss off good customers!

4. Jessica Loeb, August 1, 2008:
   

   I agree I have spent this entire week battling with am ex. First they tell me Experian contacted them because I had applied for a cc and was denied in which I was but at the same time I was awarded two new ones from different banks. I only applied to that stupid Hawaiian Airline one for a free ticket. man have I gotten more than a free ticket to fly in the sky. I have gotten a quick down slide to hell. Then they tell me I have too many balances ratio to my salary. The new one is that I am not making large enough payments on my other accts and they will review my accts in 6 months now instead of three now.This is an out and out lie i pay 10 times over the min payment on the three cards I have. I just paid 450 in May for my Plat. card I have been a member for 23 years I have 4 accts currently with these jokers that I use to rave about. They put a lousy 1,300 credit limit on my plat card. I have NEVER been late missed a pymt and have always paid all accts off as soon as i get e mail notification. They even admit to me that I have an excellent credit payment history with them but this is their decision. i really don’t want to close my plat but on the other hand I don’t want to give the idiots my business anymore. I have to travel a lot and the plat card gets me places I couldn’t go. But what good is a 1,300 credit limit? I have visa cards and master cards that i can use for more than 1,300. It is a personal insult to me and I have to think about what to do. I just cannot believe the lies they are giving me. I am thinking about making flyers and taking them around to all of the stores here in Scottsdale and let them know what Am EX is doing to their customers. People are going to close these account vendors do not like am ex anyway because they charge so much but they take them because so many people like me use them. Any suggestions?

5. wendy, August 23, 2008:
   

   you are extended credit based on your credit, if that credit changes then so should the credit that is extended to you by either increasing or descreasing your credit lines. credit cards are unsecured loans, therefor solely based on your credit report. just because u dont agree with what they did doesnt mean its not warrented. all descisions are made on risk factors and chances are if you at this point were to apply for a amex card you would not be approved due to your credit burreau. they can increase decrease or cancel card as they see fit without any notice at all. its like this with any card you have regardless of payment history tenure or credit burreau info, the card is the property or the company and they are allowing you to use it. credit is not a right its a privledge and once americans start realiseing that living off credit month to month is not the way they should be living then maybe credit companies wont take actions on accounts. its not american express’s fault that u solely base your life of your credit cards. also before you think about sueing companies for doing this (all credit cards lower credit lines due to credit burrea reports not just amex by the way, amex is just tougher when it comes to credit) read your card members agreement, i do belive the line is we have to the right to make any changes to the account with out any prior notification as well when u sign your card member agreement u are siging that u give permission for that company to use credit info 2 impact your credit line in any positive or negative way. so save yourself the money on the lawyers and maybe learn to put money in a savings account or somthing.
   oh and by the way just casue u have a bunch of credit cards doesnt mean your credit is good. to much credit on a cbr is bad, also carrying high balances on revolving accounts is even worse just as bad as a deleiquency. so maybe examine your credit reports a little more closely and learn exactly how to read then and exactly what good and bad credit is then maybe u might then realise that what theses companies are doing makes alot of sence.

6. Matt, August 23, 2008:
   

   Wow…you know what AMEX did today? they called me asked me to join the credit protection that i need to pay 8 cents/dollar balance. I don’t have any balance for the credit card they just reduce to 500. They said, if i’m a member, they can increase back to 15,000 that i used to have. What a great way to sell the credit protection. I need to find an attorney for class action lawsuit.

7. I. Samuel Moth, September 11, 2008:
   

   You are not alone. American Express and other large banks are performing these acts on thousands if not millions of perfect payment consumers, and the scope covers all areas of credit from personal cards to HELOCS. The media, as driven and owned by the banks would have “us” believe that this act is a mandatory lifeboat response having to do with managing risk and loss precipitated by natural disaster credit-card reliance (since our government was out partying during these events and cutting birthday cake) and the mortgage fiasco which in fact was created by the banks themselves when they threw billions of dollars at unqualified consumers around 2001 with knowledge of their poor risk and just to make a buck. The truth is that the main banks, thanks to affiliations with the Federal Reserve, will always “win”. For the past 8 years of this crony administration the banks have not only made huge buckets of cash via the standard interest-rate way on cards but in addition, have been gloried by corporate tax breaks. Now the tide is turning and the current thieves will be driven from office in November via the peoples’ elections. Without the padding of corporate tax cuts many of the ‘medium’ banks are stressed and many are inventing new strategies of a final ‘cash-out’ before the next step is implemented in the New World Order when a global currency will eventually become the standard and the only ‘class’ will be high class with all others consigned to serfdom. How does this affect your standard consumer middle to upper class that historically pays their bills perfectly and is never late? Why they’re being squeezed out of the club, of course. Credit is not liquidity. Make no mistake. So with greed at the forefront, as always, driving the corporate bottom line, and especially with banks, they are sticking it to large group of long standing good faith customers without the slightest regard for damaging their credit. This becomes a temporary double-win for the banks as they incrementally raise interest rates to squeeze the last drop and chase the balance to unconscionably wreck the credit of good faith customers like yourself and drive you from the club. In order to understand why this happening, you should distance yourself from your personal picture and examine the larger picture objectively. The fact of the matter is that this is a planned operation by the main banks in conjunction with the Federal Reserve to gain substantial control over the populace, whittle down all but the highest class and proceed with the next step in the New World Order. What can you do in response? Well, you can quit spending on your cards and rip them up. Also, like the former poster stated, realize that any credit is a luxury and not a right and the credit card companies are within their rights to reduce your lines, even if the result is damage to your credit rating. Purchasing on credit can be addictive and destructive as it garners the illusion that one is wealthier than one truly is. Also, take time to do the math to find out just how much a gadget or gallon of gas will end up costing you if you put it on a charge card at 25% interest and never pay it off. We can be talking $12.00-$20.00 for a gallon of gas simply because only the minimum due was paid which, with the current exorbitant and rising rates, is 80% interest. Also, I know this sounds old-shoe to some, but when you put certain politicians in office, by virtue of commission (voting for them) or omission (not voting at all) and you go to sleep at the same time and delude yourself into thinking nothing will change, you’ll wake up with everything changed and you’ll pay for the party. Also it is important to realize that this effect of the undoing of America has not occurred overnight nor in a bubble but is a result of good people having done nothing over an extended period of time. Good people complaining yet doing nothing, not voting, living off credit, beyond their means and without proper judgment or foresight into the larger picture at hand. Quit living beyond your means if it involves using credit and savor the feeling. You can feed the negativity created by dwelling on their injustice or you can learn new ways of living to free yourself from the clutches of institutionalized banks. Or, you can calculate the damages the banks have in fact caused you by ruining your good credit and might be surprised to find that the amount of those damages just might equal the very amount you owe them. What a coincidence. Wash? Watch Aaron Russo’s movie: Freedom to Fascism. Wake up America. The Federal Reserve started suckering us in 1913 and thanks to the reverential deference of the media to their intent we shall soon find the mirror that reflects our true selves – to be that of classless serfs.

8. pete, October 16, 2008:
   

   Apologies in advance for the long story. I’ve had an Amex Blue without issue for about four or five years and have been quite tight with my use of it never going over 50% of the credit limit and usually paying it off in full within one to two months.
   I was initially approved with somewhere around an $8K limit, then it bumped up over the years to $11K, then $16K, then somewhere over $20K, and finally earlier this year to $35K.

   So, let’s begin the “fun”- Here’s a little timeline of events:

   1. September 16th 2008 closing date statement:
   $35,000 credit line. $2030 purchase made this month.
   This is the only purchase I’ve made on the card all year.
   Made a minimum payment, with the intent to pay off two equal chunks, or one full chunk, by the next statement. I consider myself pretty aware of credit scores and rules, so I figured the month of usage might help keep my card looking active, as I was thinking of beginning to use it a little more over the holidays for rewards points purposes. I saw a news piece a couple of weeks ago talking about credit card companies and the economic crisis going on right now, and how AMEX specifically was planning on decreasing limits on some percentage of its users.

   2. Around October 7th, 2008:
   I receive three balance transfer checks from AMEX blue in the mail. First time that I’ve ever received them over the life of my card membership.

   3. October 8th, 2008 – (Wednesday):
   I write one check to WaMu mastercard to pay off a balance of $2000.
   I write another check for $1900 to pay off a citibank card that does not have online payment access.
   Both go in the mail.

   Just to clarify: at this point, I figured I am just using these checks to show some usage of them, in order to keep myself looking active as a blue card user.

   I was about to zero out my balance on Amex Blue, and transfer $3900 to it. Then pay THAT balance off in the next cycle. I always figure if i have these cards and the cash to pay them off, why not get their free perks and usual purchase return protection, etc, rather than using cash directly. Hopefully at this point you can sense where this story is heading and the amount of frustration I about to experience.

   You’ll also see why the dates, and days, are keeping this making some sense.

   4. October 14, 2008. Tuesday:
   I check my WaMU mastercard account and see that they quite quickly received the Amex Blue transfer check and posted the payment of $2000. I don’t give it any further thought. All seems fine. I don’t bother to check the citibank card.

   5. October 15, 2008, yesterday.
   I realize my blue card’s closing date is coming up. I decide to log on, and squeeze in a big payment before the closing date so that my statement has no payment due, and I wanted to make sure it was substantially more than the minimum.
   To my dismay, I do not see my credit availability as “$32,970″ but it is INSTEAD $170.
   That would mean that my card went from a $35000 limit with a $2000 balance down to a $2200 limit with a $2030 balance.

   At this point, I’m confused. I check my WaMu account again and it’s fine, still shows a posted payment of $2000. I hurry and check the citibank card account, and see that the Amex Blue check for $1900 that i sent in has been received and had bounced on 10/14 (Tuesday). But this doesn’t explain the check sent to WaMu that they posted as a payment. That would mean that my limit is $2200 but my balance is now $4030… !?!?

   I call AMEX. The customer support person can’t really help, and forwards me to the credit line department. I am on hold for 30 minutes and eventually hang up.

   (by the way thanks for keeping up with me this long)

   6. October 16, 2008, today:
   Call AMEX credit department again at 9 am. They explain that on October 13th, 2008 (Monday), my card was “evaluated” and the credit line was dropped. They apparently sent out a letter that day too- but as of yesterday, I still hadn’t received it. They have no ability to explain their messup in sending out Balance transfer checks then creating a situation where they’d bounce!
   I asked about my payment to WaMu using a check that appears to have been processed just fine- except it’s not showing on my Amex Blue online statement. The customer service person tells me “it’s going to be denied”…!
   At that point, I asked to speak to a supervisor, and the wait time was so long that I had to leave my number and am now at 1pm EST still waiting for a call back.

   ISN’T THIS A BIG PAIN?

   Some thoughts- Might be assuming here, but AMEX’s credit line department must be getting A LOT of calls like this right now, hence the news report i mentioned earlier and the extreme wait times.

   My fears now:
   -I am going to get hit with a return payment on my WaMu card if that amex check bounces. As of today, 10/16, it still looks fine when i check the WaMU statement online. I don’t even carry the WaMu card, so I can’t even call them right now.
   -My AMEX blue statement closing date is today, 10/16. When Amex reports to FICO, I will suddenly have a $2200 balance that for all appearances is maxed out with a $2030 credit line. This is a situation I’ve avoided my entire credit life.

   I’m waiting for the supervisor callback until about 2pm, and am trying to find out if I can make a phone payment that would post TODAY, prior to the statement being generated. Otherwise, I can pay online but it won’t post in time to make the statement (it needs 24-72 hours, I would have paid yesterday, but I thought there was something much worse going on with the account, until i googled and found many articles such as this one).

   To add insult to injury:
   I have an AMEX platinum and gold. My wife and i use those quite regularly, basically as cash. Amex has begun offering a credit portion on those (in other words, you don’t have to pay it all off at once if you don’t want), and JUST NOW, in late september, enticed us to turn this feature on with a rate that was lower than our AMEX blue card! Don’t think I’d ever really use this feature, but figured it’s always good to have a backup. Each month they automatically put anything over $100 into that portion of your credit/charge list.
   Easy way for them to make money, i guess.

   So, now I’m just frustrated. $35K limit down to $2K. Overnight.
   NO notice- except for the letter I’ll probably get in the mail today. And, all of it done WHILE other institutions are trying to cash the amex balance transfer checks!!

   BLAH!

9. Bonnie, October 17, 2008:
   

   I really feel for you Pete. The same thing basically happened to my husband and me today. I noticed yesterday that my account no longer showed an available credit line and thought that something might be about to happen. I received an email about 7:30 last night informing us about the limit lowering. I spoke to 3 different people today and it did no good whatsoever. I held for the supervisor because the rep I spoke to in the credit line department was downright rude. She was no help either. We were within about 80% of our limit before because we are financing my husband’s college education along with other purchases. We were intending to throw a large amount towards our balance after we got our tax refund but we will be rethinking that now. I’m not going to pay down a card that shows every indication of continuing to lower the balance after each payment. I don’t know about all of you out there but our payments will actually be going to a card that will continue to be a help to us. I used to like you AMEX but my opinion is certainly changing.

10. pete, October 18, 2008:
    

    Thanks Bonnie. So in one piece of good news, my online payment attempt of $1000 was actually posted JUST in time and at least my statement now will show a $1030 balance on a card with a $2200 limit- I’m no longer in fear of how my FICO is affected.

    I have yet to get them on the phone after four solid attempts- even just sitting at work I’ve had to hang up after half hour wait times. As of today, Saturday 10/18, I DID see that the balance transfer check to WaMU mastercard bounced on 10/14. I guess WaMU’s site didn’t update until today- and I was hit with a $35 fee. Based on everyone’s comments and the fact that it’s another institution I highly doubt I am going to get this refunded to me by AMEX blue, but it can’t hurt to complain and try to get this refunded.

    I’m definitely paying this card off after I try to get that refund. I guess I may as well close it.

    You know what the really funny part is? Now at the bottom of my online statement, the button for “request a credit line increase” is suddenly back! HA! Maybe i should click it…
    

11. Omar, October 22, 2008:
    

    They just screwed me as well saying the they will no longer allow me to utilize the flexible pay option. All charges from here on out is due in full.
    Not cool.
    I will call them in the morning to check out what the hell is going on. I started freaking out but when I checked my credit I had a 785 score. Never been late. No negativity reported….
    THIS SUCKS…

12. Jenny, October 22, 2008:
    

    you need to understand credit better and understand how the economy is. Am Ex is not jsut going to keep lending out money left and right with the way people are abusing their credit. Yeah its not fair to those of us who pay ontime and know how to manage our credit but the company needs to rpotect its self too

13. Amer, October 23, 2008:
    

    This is to inform you that American Express has been targeting some of their customers and closing their accounts. The criteria used by the company to what accounts they are targeting is not clear but so far it seems that it is going after anyone with high credit limit or score!

    I’ve been a member for many years and never been late on any payment. As a matter of fact, my credit score is high. They closed my account just because I refused to give them the permission to look at my Tax Returns. I provided them with my income, my place of work, and everything they have requested but I didn’t feel comfortable allowing them looking at my Taxes. Regardless of my efforts to maintain the account they went ahead and closed it. In addition, they forfeited the cash rebate that I am entitled to for this year claiming that I was the one who forfeited the account!!

    I’m writing this to make everyone aware that the way American Express is conducting their business is extreme and doesn’t seem to be lawful. I just wanted to share what seems to be a discriminating, false advertising and unrightfully behavior that I experienced from a company that I thought highly of.

14. Barbara, October 23, 2008:
    

    I have 2 cards- Blue and One. My blue car had an initial $5000 limit. I opened this card 2yrs ago when I lived in the dorms and I have great credit. I just got a $17,000 used car loan @5.99% for 72 mos. I had a 3.99% for life on the blue card and I recently made a huge payment. They lowered my credit line to $2100 after a huge payment. I made another payment of $500. They lowered my line to $1700. They are ruining my score. So before they do any more damage, I’m closing my account. I have never paid late and my amex one card was my pay in full card until they pissed me off with the first decrease. That balance has been $0 for about 4 mos. now. I x-ferred the balance to Bank of America @ 0% for a year. They tried to tell me that my credit is going sour. Then why do I have my balance that amex was getting interest on monthly now sitting @ 0%?! As a college student I was charging and paying off $700/mo with amex AND revolving a balance on another card. They screwed with the wrong customer.

15. Purita, October 24, 2008:
    

    WOW.. samething happened to me. I have been a really good customer to Amex for almost two years now and for some reasons, they decided to decrease my credit limit from $5,000 to $500. My credit scores is super great too.

16. J, October 24, 2008:
    

    They lowered my credit as well and i spent an hour on the phone with them. I think they legally have the right to do this but from a PR perspective this is terrible. I was planning on putting the rest of my wedding expenses on my card but they lowered my available credit. The people I spoke with were very condesending. I plan on closing out my account in the next month.

17. J, October 24, 2008:
    

    Also, by AMEX lowering your available credit they are lowering your credit score. Debt outstanding vs. available credit is a signifigant factor when Experion etc calculate your credit score.

18. Margot Knight, October 26, 2008:
    

    Good to see it’s not just me. Credit score of 720. Cardmember since 1986 with Platinum and Blue cards. They dropped credit limit to 1300 on Platinum (silly to pay $450 for this, huh?) and $500 on Blue Card. I talked until I was blue (HAH) in the face, then gave up, paid both off and cancelled both cards. They will not make as much money off me in the the next 22 years as they have in the last 22. Customer loyalty doesn’t exist.

19. Bob Seifert, October 28, 2008:
    

    Thanks to everyone for kindly explaining your experiences with AMEX.

    I’m writing from Canada, where AMEX is not as big in the marketplace as Visa, but still a player here. Although FICO scores are utilized to determine credit worthiness at the beginning of a business relationship, they aren’t used on a monthly basis like I suppose they are in the US. The idea that your mortgage, car insurance, or alike could be affected suddenly by a change in debt ratio is crazy!

    It does seem though that AMEX is particularly adept at this “chasing the balance” thing – really makes you think twice about the company.

20. Tracey the Photographer, October 30, 2008:
    

    Boy have I got a Dusey…

    Amex Lowered our platinum business line of credit from $25k to $1k also stating that there is “insufficient payment history to support spending activity”… HELLOOOOO I have a $.65 credit with the fools.

    There isn’t any purpose in having a 1k limit so we have closed the account.

    Our “Gold” card with no limit was also targeted . I received an “out of the blue” call from Amex asking if I was ready to pay the (non statemented) balance of $5.5K right then over the phone. If not they were going to suspend future spending until this was paid in full. I paid it. I then received a letter stating that any “Flexible spending options” would nolonger be available.

    Can we say “Credit Crisis”

    We maintain a 740+++ credit score.
    I hope this string helps others not take these things personally & yet prepares them for what may be on their way!!

    Good Luck.

21. Ash, October 30, 2008:
    

    Um, do you folks really think those people that answer the phones at AMEX have ANY power to do anything about a lowered line of credit? They are getting screamed at and cussed at all day long and THEY don’t understand why some of the accounts are lowered. Your abuse of them will get you NOWHERE! They are just trying to feed their families! If you want to know what and why contact the corporate headquarters in NY and ask to talk to the CEO or the Risk department. Those answering the phones are as much a victim of this mess as you are, heck the same thing is happening to them!

22. liz, October 30, 2008:
    

    Ash, I don’t think anyone is abusing the people answering the phones but this is a forum where people have a place to vent their frustration.

    It is clear that American Express is canceling all flex pay and lowering the credit limit on their credit cards.

    I am afraid to use my Gold card because at some point I feel like it is just going to be declined event though we pay it on time every month.

    I don’t have a business that relies on credit but I feel for all of you who do. I worry that small businesses are going to go bankrupt because of all the greedy bankers and people who bought homes they clearly couldn’t afford.

23. MR. K, December 27, 2008:
    

    I have 5 cards with AMEX, my credit score is shows 802 Equifax, 798 Experian and 838 Transunion. I just purchased my first home amex lower my blue card from 30000 to 3000 my business card from 25000 to 2500 and the other (3) dont have pre-set limits. Amex advised me one of the breaus advised them I had too outside debt that surpasses my ability to pay.

    This is a bunch of BS if you ask me (A) I have shown I make enough because If I didnt I wouldnt have gotten approve for my home. (B)when you are applying for credit cards they ask what you are making they never ask to see check stubs with YTD and (C) I had a zero balance on all of my credit cards including visa and discover.

    I wrote amex corporate headquaters, adverse team, customer service, Experian, Equifax, Transuion and the FDIC. If I was truly depending on these cards and the way they decrease the limits over night I would have been in trouble. I think they should send a warning before they decrease limits. I never asked for an american express card it was a notice in the mail and I accepted. I think they should send a notice in the mail when they are decreasing credit!

    I think Amex will lose great customers because the way the company is handling business is unprofessional.

24. jonniev, January 2, 2009:
    

    So… I’ve been a card holder since 1998… Until two weeks ago I had 3 cards–the gold, blue, and delta platinum miles. I had just made the decision to cancel my gold card because I rarely use it and $150 per year is worth saving. My credit limit on the Blue card was $11k and it was $10k on the delta card. I went to use my blue card for a $750 purchase and the card came back declined. I new that I only had a $300 balance on the card so I was very perplexed. I then decided to use my delta card… it too was declined! I called in and they gave me the same song and dance everyone else is writing about. The cut my credit limit on the blue card to $500! I cancelled it right there. The Delta card was cut to $50 above my balance… rendering it useless and hurting my credit because I now have a “maxed-out” card. Thanks AMX… glad to be a USELESS card holder.

25. M M, January 7, 2009:
    

    I have been using AMEX exclusively for years, earning at first AMEX Points, then Delta Miles with my Delta Card. I charged about $1000 to $2000 a month, and always paid the balance off in full. All of a sudden I was denied on a purchase. After calling I discovered my Delta Card was lowered from $12,000 to $1,800. I was so mad I stopped using the card, so the only charges that went on it were my automatic cell phone bills. This week they lowered my limit to $900. My credit score has dropped 20 points because of the first reduction, now what I wonder! I am for boycotting them and letting them get in to real financial peril. They shouldnt be messing with a loyal, ontime paying customer. My credit situation, my income, and my good credit have not changed. The only thing that changed is AMEX messed up my credit after I gave them thousands in business. I earned 68,000 miles in the last few years, and 70,000 AMEX points, and every statement balance was always paid off. The worst part is I thought it was over, but it still continues. I think its best to close the Delta account, just wish I would have been notified in advance. Had I known what they were thinking, I would have “closed it at customer request” with the higher credit line, so at least it didnt look bad on my credit report. I am up for Class Action!

26. Chas, January 11, 2009:
    

    American Express should be disqualified from receiving ANY GOVERNMENT BAILOUT MONEY since they have made good peoples credit scores go down. They should be treated like they are treating, badly!

27. Eric, January 28, 2009:
    

    On January 20, Amex cut the credit line on my SimplyCash from $10k to $1200, which was actually $800 less than my balance. I almost never carry a balance on this card, or my Business Platinum card, which the similarly send me a letter imposing a spending limit of $1200 (the same as the new credit line on my SimplyCash card). When they called to notify my, I closed both accounts ON THE SPOT, and they didn’t even try to change my mind.

    I’ve been an Amex customer since 1992, but NEVER AGAIN. My credit score is over 800, and honestly, this will probably have no effect on that, but still, there is no excuse for treating a 17-year customer with perfect credit in this way.

    I also no longer accept American Express in my business, and will no do business with them in any capacity whatsoever.

    Chas has a good point. Amex was recently given BILLIONS of OUR taxpayer dollars for the explicit purpose of providing credit. Someone at Amex needs to rot in a jail cell for this misappropriation of taxpayer funds.

28. Justine, February 11, 2009:
    

    More of same: I Just opened my old email – and found AEx. They sent, Jan 27th, to the former email (I changed 15 months ago – they can’t seem to figure it out) changing my $16,200 credit to $1000. I have had a zero balance since May of last year, never late for the 8 yrs that I have had the card. Easy for them to say it was because of my credit score…It Was 760 before they pulled this one. And, Bank of America did the same thing on 2 accounts to drop my credit score as well! How do we all gather to be able to yell loud enough to be heard into the “Changing” new government??!!

29. Ray Regenero, February 20, 2009:
    

    All of you who have had your AMEX credit card account cancelled: be sure you send a follow-up letter to EVERY credit reporting agency (Experian, TransUnion, Equifax) AFTER your AMEX account closure shows up on your credit report. If you are a wise person, you are checking your credit report MONTHLY from all three (usually available through a third party for a reasonable fee). In the follow-up letter, document each communication from AMEX and what action they took against your account, e.g. Credit Line reduced from $32,000 to $5,000, Account Closed for the Following Reasons:, etc.). Use the word “DISPUTE” prominently in the heading of this letter. If you did nothing wrong (late or missed payments, over-limit balances, etc.) you do not want to let these SOB’s get away UNCHALLENGED with besmirching your good credit record. The letter follow-up letter will, by law, be retained in your credit file stating the TRUE FACTS of this Federal Money Grab by AMEX Bank, formerly American Express Company (yes, that’s right – they got 3.5 BILLION of the TARP funds – your tax dollars). NEVER GO BACK to doing business with these Alpha Henrys and if your are a business owner accepting AMEX credit cards, tear the equipment out of your business and recycle it! You will NEVER find me anywhere near AMEX ever again! Customer Service – what a joke! More like “SELF-SERVICE!”

30. BOSTON MA, March 20, 2009:
    

    BOYCOTT AMEX! AS OF TODAY – I HATE AMEX AND WILL CLOSE ALL OF THEIR ACCOUNTS AND NEVER USE THEM AGAIN. THEY ALMOST RUINED OUR CREDIT ON CLOSING ON A NEW HOME. ARGHHH!!

31. George Arndt, July 25, 2009:
    

    I have low income, yet, my credit cards all starting raising their limit by leaps and bounds. In January of 08, I got a American Express card With a credit limit of 20,000 dollars even though I was 65,000 in debt and had no increase in income.
    This brought my total amount of available credit to over 100 grand!
    I got cocky and spent 30 grand in one year on buying websites and domains.
    I still had 70 grand in credit and was able to pay all the minimum payments on time.
    Now, American Express and Chase have, out of nowhere slashed my credit lines. I didn’t max them out, in fact, I was careful to leave 1/3 of my credit line alone.
    I think they purposefully gave me(and others) much higher credit lines than they deserved planning to get them to spend more credit and then drop their credit lines as an excuse to raise interest rates and make over limit fees easier to get. I was the junkie and they were the pushers.
    Easy credit is the root of our current economic crises. It is probably just as destructive to individuals and the country as crack or heroin. The creditors have set up us all up for the kill.
    Credit should never have been so easy to get in the first place.
    Of course, I chose to get the cards and choose to spend a bit too much. But, the credit card companies enabled it.

    What the banks have done is to create an environment where someone cans spend more than they can afford purposefully setting them up for the kill.

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