CHESSNOID

I don’t have any new American Express credit card blog posts but I still get many comments on the old posts.  Unfortunately, many of those comments are buried because the posts are so old.

It’s funny that based on the comments and frequency of its post, you can actually tell what American Express is doing to its database.  They are definitely trying to minimize losses and maximize profits by eliminating potential problems in its credit card portfolios.

Michael Strike on Recession is forcing American Express to reduce credit lines for no reason

Same thing…. I’ve had my AMEX Blue card for about 8 years. I’ve NEVER been late on a payment. In the past three months, I’ve made payments of approximately $25,000 and currently have a $2,000 balance. They dropped my credit limit to $2,300 while I was on vacation. Currently, I would like to be involved in any lawsuit as I no longer feel any loyalty towards them now that they dicked me.

Beth on American Express playing “chasing the balance” game

Will this practice of chasing the balance become illegal under the new credit card laws that take affect Jan. 1, 2010?

Kimberly Peace on Amex credit card class action lawsuit

READY TO SUE!!!! I am looking for a class action suit against AX!! They lowered my limit from 10,000.00 to 2,500.00 with NO warning and after I paid 7,000.00 on it to lower the balance! A full week later I received a letter telling me that they were lowering it! I am HOT!! I have always been an excellent customer and paid on time, and this action was uncalled for and HURTS my credit score. Why are they granted bailout money and then allowed to screw the American people like this???? Bank of America and Delta AX have both done this to me!!

Michael Strike on Amex credit card class action lawsuit

I am extremeley upset. I made more than $20,000 in payments in three months to bring my balance down to about $2,000. They DROPPED my credit limit from $19,000 to $2,000. Had card for 8 years, never been late on a payment. Customer Loyalty means nothing to AMEX. I used to use the card proudly, now I want nothing to do with them. And on top of that, their rewards program is completely misleading. NONE of my grocery purchases at Super Walmart made the 5% for the year.

There are literally hundreds of comments in my blog from other card members who wanted to share their experiences.  If you want to read more, you can click on the post and scroll down to the bottom.

To be clear, my first post on my personal experience came in February 2008, so it will soon be 2 years since I was profiled and hit with credit card limit reductions literally  overnight without advanced notice.  I think I was targeted initially because I lived in Orange County California which was and still is a hard hit area of falling real estate prices and foreclosures and because I worked in the finance field.  Since then, I think they have been modifying the credit card limit reduction model to include more of their portfolios.  I believe visa, mastercard, and discover followed suit out of necessity.