var json_comments = new Array("
\"user-pic\"
acrobatic rabbit
January 21, 2009 8:19 PM
Moderate | Flag for review

Cash? Debit card maybe? Makes me nervous for this guy that he only uses credit while traveling. My suggestion is that for future reference he carry enough cash (if at all possible) in his checking account to be able to use his debit card as backup.

Reply
5 replies
\"user-pic\"
mythago
January 21, 2009 10:35 PM
Moderate |Flag for review

@acrobaticrabbit: Right. And then when he's robbed or somebody overcharged his debit card, he can look forward to \"I don't blame the OP but what kind of idiot carries cash or uses debit cards? I only travel with my Amex\" blah blah blah.

Reply
\"user-pic\"
Cyberxion101
January 21, 2009 10:51 PM
Moderate |Flag for review

@mythago: Nail on the head right here. It seems that it's impossible to avoid blame around here lately. I miss active moderation.

Reply
\"user-pic\"
Cocotte
January 21, 2009 9:11 PM
Moderate |Flag for review

@acrobaticrabbit: When travelling for business it's common to only use credit, as it's easier when filing expense reports for tracking, currency conversion, etc.

Reply
\"user-pic\"
FatLynn
January 21, 2009 10:33 PM
Moderate |Flag for review

@Cocotte: Sure, but there are many, many places that do not take AmEx. It is a huge pain for me to use my Visa and fill out reimbursement paperwork vs. using the corporate AmEx, but I still have to do it from time to time.

Reply
\"user-pic\"
hellinmyeyes
January 21, 2009 8:26 PM
Moderate |Flag for review

@acrobaticrabbit: I always hate to blame the submitter, but you're right. I have several cards with at least four companies, and, as a business owner or traveler, there is no excuse to have only one card at all unless you just carry one or two on your person and the rest in some luggage.

With that in mind, I'm wondering what other crazy shit American Express is going to pull next. They're still trying to get me to recommend their cards to friends in the Web login (to pay my bill), so I suspect they're still opening new accounts.

Reply
","
\"user-pic\"
nicemarmot617
January 21, 2009 8:21 PM
Moderate |Flag for review

Yeah, Amex has gone straight down the shitter. They reduced my credit limit to within $50 of my current balance with no warning. Luckily Mint sent me an alert, and I have another card. Also, I'm not dumb enough to travel out of town carrying a single credit card and no other method of payment.

Reply
3 replies
\"user-pic\"
VRWC
January 22, 2009 4:58 AM
Moderate |Flag for review

@nicemarmot617:

\"Also, I'm not dumb enough to travel out of town carrying a single credit card and no other method of payment.\"

Well, until the Amex meltdown, one never needed anything ELSE but an Amex Card when traveling. If a place didn't take Amex, it usually wasn't worth patronizing, despite what Visa would have you believe.

So if traveling with only an Amex is \"dumb\" then I guess there are hordes of \"dumb\" travelers out there -- well, at least until mid 2008.

Now it appears that Amex has melted down to the point of cutting of their nose to spite their face. I have little doubt that my Amex card, which I've had for 11 years, will probably be canceled soon, too, because I also pay my balance in full each month.

So traveling with only an Amex card AFTER mid-2008 is definitely dumb. But prior to that, I wouldn't call it dumb.

Amex used to equal class -- now it's apparently synonymous with idiotic feces-throwing monkeys.

Reply
\"user-pic\"
ScottRose
January 22, 2009 5:19 PM
Moderate |Flag for review

@VRWC: No, it's dumb. At any time.

I can understand having no other credit/charge cards. But to not carry a debit card (or checkbook, if you're over 75 y/o) as well is just .. Odd. And dumb.

Reply
\"user-pic\"
juri squared
January 21, 2009 9:00 PM
Moderate |Flag for review

@nicemarmot617: Same thing happened to me last week. They had already jacked my interest to 19% for no reason. Now my limit is slashed, right when I was planning to use the card to secure a hotel room next weekend. ARGH.

That's what I get for always paying at least twice the minimum, on time, every month. I obviously need to be punished.

Reply
","
\"user-pic\"
shadowsurfr1
January 21, 2009 8:21 PM
Moderate |Flag for review

I think paying your balance in full every month is one of the larger reasons behind their decision. I'm fairly sure I've read previously that people have had their cards closed simply because you weren't making money for the CC company. Sure, there may be fees and such, but they weren't getting any interest from you.

Reply
7 replies
\"user-pic\"
lars2112
January 21, 2009 8:28 PM
Moderate |Flag for review

@shadowsurfr1: Just about every amex card requires you to pay it off each month, they are non-interest accounts unless you are 30+days late in which they will freeze your account and charge you a huge fee.


They make their money by charging a higher upfront fee for the vendors (Visa/MC charge around 2%, while amex charges up to 5% of your purchase). In addition since they get paid off each month, they don't need to pay as much interest on the money they lent to you for the month.

Reply
\"user-pic\"
Shadowman615
January 22, 2009 4:06 PM
Moderate |Flag for review

@lars2112: Actually, most of the Amex Cards these days are full-fledged credit cards where you can carry a running balance. The old-school Amex \"charge cards,\" of which I have one, only seem to account for about a third of their offerings these days.

I think they started realizing they can make more money from interest than they would from annual fees and transaction charges alone.

Reply
\"user-pic\"
lhutz34
January 21, 2009 8:22 PM
Moderate |Flag for review

@shadowsurfr1: AMEX doesn't allow you to carry a balance.

Reply
\"user-pic\"
MsAnthropy
January 22, 2009 2:02 AM
Moderate |Flag for review

@lhutz34:

They do give you the \"option\" to carry a balance on their credit cards, but I think the general consensus is that they'd really rather you didn't, and if you do, don't carry it for more than maybe three months before paying it off in full. Their business was built on charge cards, and I think they have trouble getting out of that mindset - certainly they seem to think (judging by the reasons I've read about for people having their cards closed or credit lines decreased) that if you're carrying a balance, that's because you can't afford to pay it off. They're not just concerned about what you're doing with their card, they'll check your credit reports each and every month (sometimes multiple times a month) and are prone to freak out at the slightest hint of out-of-pattern behavior.

I think if I'd been the subject of this post, and suffered such a huge credit limit decrease at the hands of AmEx, I'd have immediately become paranoid about using the card at all, let alone traveling away from home without any kind of backup. If a card issuer decreases the amount of money they trust me with by upwards of 90%, I'm not going to rely on that card to work when I nip out to buy a pint of milk, let alone as my only source of funds on a business trip.

Sorry to hear of another victim of AmEx's craziness. I love my AmEx right now, but I know they could decide they don't like me at any given moment for pretty much any reason, or no reason, at all. :(

Reply
\"user-pic\"
wcnghj
January 21, 2009 10:20 PM
Moderate |Flag for review

@lhutz34:

AMEX has about 12 different cards, 4 of them are PIF only.

Reply
\"user-pic\"
dorrdon
January 21, 2009 9:14 PM
Moderate |Flag for review

@lhutz34:
I have two AMEX cards, a charge card, and a credit card. My AMEX CHARGE card must be paid off in full each month, however, I am allowed to carry a balance on my AMEX CREDIT card. - I'm in Canada, so maybe it's different up here.

Reply
\"user-pic\"
hellinmyeyes
January 21, 2009 8:32 PM
Moderate |Flag for review

@lhutz34: Must there always be one response like this per American Express thread? Unless, of course, you're just saying their new business is just to make you pay it off every month on all their accounts outside the \"charge\" accounts.

Reply
\"user-pic\"
HogwartsAlum
January 21, 2009 8:48 PM
Moderate |Flag for review

@hellinmyeyes:

I hear conflicting info every time there's an AMEX story. Some people tell me \"Oh they're the way to go; get a Blue Cash, etc., etc.,\" and then I hear something like this: \"They cancel a guy; you can't carry a balance\" (which I couldn't have a card unless I carried a balance). Every card is the one to get, or it's worthless. How can I make a decision?!

Know what I'm getting? Confused!

Reply
\"user-pic\"
West Coast Secessionist
January 21, 2009 11:53 PM
Moderate |Flag for review

@HogwartsAlum: Don't risk it. The EXACT same thing happened to me here. Get a real credit card--it's accepted more places and you can get similar cash back deals to Blue too. AMEX is overrated, and their recent scrooginess has only made them worse.

Reply
\"user-pic\"
dialing_wand
January 21, 2009 11:05 PM
Moderate |Flag for review

@HogwartsAlum: Check out the Amex site. All the cards are listed there (and there are many.)

Reply
","","","","
\"user-pic\"
Anonymous
January 21, 2009 8:29 PM
Moderate |Flag for review

They reduced my account down to $500, which is more or less useless. I'm assuming the reason is that I had a zero balance and they weren't making any money from me. I think I will be canceling the card...

Reply
1 replies
\"user-pic\"
~Ian~
January 21, 2009 9:28 PM
Moderate |Flag for review

@DrakeKnukka: Thats most likely exactly why , if they aren't profiting enough from you they would rather extend your credit to someone who they can profit more off of. Which is possible the reason the submitter of this post had his cancelled ..... who knows , but it is possible. Credit companies are ruthless and evil pretty much.

Reply
","","
\"user-pic\"
VidaBlueBalls
January 21, 2009 8:32 PM
Moderate |Flag for review

Canceled mine too while I was on Christmas vacation.

Reply
","
\"user-pic\"
ClarenceCochonTheEasterPig
January 21, 2009 8:34 PM
Moderate |Flag for review

It is such foolishness to travel with only 1 card - always have a backup - be it credit, debit, or a combination. Even if your card weren't cancelled, so many things can happen to temporarily decrease access to funds. When I was in the hotel business, if a customer were rude, we would authorize a card repeatedly until it declined. Of course, the holds would reverse a few days later, but until then, the customer would terribly inconvenienced. And remember, people still use cash! Eleven dollars.... jeez.

Reply
6 replies
\"user-pic\"
Charlotte Rae's Web
January 22, 2009 7:26 AM
Moderate |Flag for review

@ClarenceCochonTheEasterPig: I'm not even going to get on you about the crappy stuff you admitted to doing because people have already.

My comment is about the $11 part. I never use my cash on business trips because if you charge everything on the company card, you aren't out any personal money. No waiting for an expense report, no forgetting you spent that money in cash. Which do you think is quicker - a swipe of a card or getting a receipt for $11 (i worked for a company that once demanded all receipts, no per meal allowance stuff)?

Reply
\"user-pic\"
sleze69
January 22, 2009 11:23 AM
Moderate |Flag for review

@ouiserboudreaux: But you are losing out on the points/cash back of using a personal credit card. Even if you had a 1% cashback card, every $2000 trip would give back $20. Depending on how often/how expensive trips are, that does add up over time.


Rewards point with a hotel or an airline add up even quicker if you use their credit card.

Reply
\"user-pic\"
Ubermunch
January 21, 2009 11:16 PM
Moderate |Flag for review

@ClarenceCochonTheEasterPig:

When I was in the hotel business, if a customer were rude, we would authorize a card repeatedly until it declined. Of course, the holds would reverse a few days later, but until then, the customer would terribly inconvenienced.

Had you no shame at all? Honestly, I'm not sure I'd admit to being such an asshole in a public forum. +1 for honesty... -10 for being a complete jerk.

Reply
\"user-pic\"
ClarenceCochonTheEasterPig
January 21, 2009 11:44 PM
Moderate |Flag for review

@Ubermunch:
I know, I know! I never said it was noble! But you never know who has access to your info. I had a credit card company who posted a payment late and then told me they applied it to my HELOC accidentally. And I didn't even have my HELOC with them!
And yes, I have been treated equally badly, and no, I have no shame. I'll be happy to polish your halo for you one day.

Reply
\"user-pic\"
jusooho
January 22, 2009 1:54 AM
Moderate |Flag for review

@ClarenceCochonTheEasterPig: Your revenge fantasy was really cute to read, but as you were just a (front-desk?) peon if you tried that more than once on purpose you'd be fired. I think you're lying.

Reply
\"user-pic\"
Shadowman615
January 22, 2009 4:09 PM
Moderate |Flag for review

@jusooho: Yeah, I don't buy that story either. If my card were declined I'd immediately be able to find out what caused all of the holds on my card, and then you'd have a lot more to worry about than rudeness.

Reply
\"user-pic\"
MsAnthropy
January 22, 2009 2:15 AM
Moderate |Flag for review

@jusooho:

If something like that EVER happened to me (and yes, I would spot it very quickly if my available credit on a card was suddenly reduced to zero, and a quick call to the issuer would explain why within seconds), I would be raising merry hell. That's not the kind of thing a hotel employee is going to get away with on a regular basis - and ClarenceCochonTheEasterPig, if you tried it even once, that makes you an utter fucking arsehole and I hope you WERE fired.

Anyone in a job like that has to deal with rude people. And there are better (and equally satisfying, less job-threatening, making-you-far-worse-than-them) ways to deal with them, too.

Reply
\"user-pic\"
GirlCat
January 21, 2009 10:53 PM
Moderate |Flag for review

@ClarenceCochonTheEasterPig: Wow. Just, wow. Did it never occur to you that part of your job is to deal with rude customers? If someone is physically assaulting you, call the cops. If they're verbally abusing you, call your manager and maybe also the cops. But to do something like this is just...so unbelievably awful, besides being a crime. To toss it off as \"the customer would be terribly inconvenienced\" after reading about a guy who was stranded on a trip is verging on sociopathic.

Reply
\"user-pic\"
Collie
January 21, 2009 9:32 PM
Moderate |Flag for review

@ClarenceCochonTheEasterPig:
Great way to treat a customer, just because they were rude you do something that could be illegal. I hope no one treats you that way.

Reply
","
\"user-pic\"
SkokieGuy
January 21, 2009 8:36 PM
Moderate |Flag for review

I would suggest carefully reading their terms and conditions. Typically changes to an account do come with a warning or notification.


If this was truly done without ANY notification, you may have a cases for damages.


Many legal societies have an \"ask a lawyer\" day where an initial consultation is free, or consider your attorney general.

Reply
","
\"user-pic\"
razremytuxbuddy
January 21, 2009 8:43 PM
Moderate |Flag for review

This is the Amex I've always known. They've left me stranded and digging through my wallet for a different card on two different trips.


On one of my recent calls to customer service, the CSR said, \"I want to thank you for being an American Express member for...well basically my whole life.\" I've had the Amex account for over 20 years, and use it only in the most controlled manner. Despite my responsible history with Amex that literally spans a generation, my most recent communication from Amex was as others have just described--a letter reducing my credit limit to a fraction of what it had been.

Reply
1 replies
\"user-pic\"
Anonymous
April 5, 2009 10:31 PM
Moderate |Flag for review

I have been a customer with American Express for years. I have NEVER been late on any payments and NEVER maxed out my line of credit.

I received an e-mail from American Express stating that they were reducing my line of credit because of the \"difficult economic environment\". When I called customer service, I informed them I did not care if they lowed my line of credit, I just wanted to make sure it would not affect my FICO score. The CSR told me that it WOULD negatively impact my FICO!!!

I am very livid because American Express should not have the power to damage an individual's FICO score in this tough economy when they choose to lower a customer’s line of credit!!! I am doing all in my power to pay and close off this credit card as soon as I am able. I am disgusted that American Express has negatively impacted my FICO score!!

Therese

Reply
","
\"user-pic\"
sleze69
January 21, 2009 8:46 PM
Moderate |Flag for review

Depending on where I am travelling, I will empty out my wallet of things that I don't need.


However, when I travel, I always have a non-Amex card. Why? Visa/MC is accepted at more places than Amex and I don't want to be stranded. I also take my bank card so I can get cash if I need it (cash advances ONLY in an EXTREME emergency).


BTW - Amex offers, to some of its cardholders, the ability to pay over time. They practically begged me to \"authorize\" its addition to my Gold Card. I finally did when they gave me 10,000 points just to sign up for it. I still pay off on time.

Reply
1 replies
\"user-pic\"
RandomHookup
January 22, 2009 4:08 PM
Moderate |Flag for review

@sleze69: That's what I've done when I was travelling heavily. I always have 2-3 cards with me, simply because something may go wrong (demagnitized card, overlimit, lost card) and it's a royal pain to be left somewhere without money.

Reply
","","","
\"user-pic\"
ExtraCelestial
January 21, 2009 9:02 PM
Moderate |Flag for review

I'm shocked my mom's card hasn't been restricted/cancelled yet. She almost always pays it late. Not more than 30 days so I don't believe it effects her credit. It's not like she isn't able to pay it either, she just doesn't care. Due dates apparently don't apply to her . Then again with folks like Gwyneth Paltrow shilling for them perhaps she's just their target audience.

Reply
2 replies
\"user-pic\"
Corporate_guy
January 21, 2009 9:47 PM
Moderate |Flag for review

@TinkishDelight officially OVER the dc tourist infestation: She sounds like a profitable customer. Her irresponsibility will most likely keep her card safe.

Reply
\"user-pic\"
MsAnthropy
January 22, 2009 2:16 AM
Moderate |Flag for review

@Corporate_guy:

Yeah, there's a lot of card issuers for whom that would be the ideal customer. I'm betting TinkishDelight's mom's card isn't an AmEx, though....? They're not too big on that kind of thing, it would appear.

Reply
\"user-pic\"
ExtraCelestial
January 22, 2009 3:21 PM
Moderate |Flag for review

@MsAnthropy: Actually she has a platinum Amex. *shrug* She's great with all her other bills, and her credit score is ridiculously high. I think it's just because they allow her to do it and so far it hasn't effected her negatively that she just doesn't make it a priority.

Reply
\"user-pic\"
MsAnthropy
January 23, 2009 12:34 AM
Moderate |Flag for review

@TinkishDelight officially OVER the dc tourist infestation:

Lucky your Mom, in that case - good for her! :)

I guess they're a teensy bit more lenient when it comes to dishing out adverse action against those who pay them that lovely $450 annual fee every year!

Reply
","
\"user-pic\"
bohemian
January 21, 2009 9:02 PM
Moderate |Flag for review

I would be worried about traveling with any credit card right now. Who is to say BOA won't implode tomorrow and freeze everyone's cards?

Reply
","
\"user-pic\"
Crabby Cakes
January 21, 2009 9:02 PM
Moderate |Flag for review

Don't they have to give 30 days warning to change a contract? Isn't canceling your card a change of contract.

/Really asking, had no idea they could cancel your card at a moments notice.

Reply
","","","
\"user-pic\"
jeffmac
January 21, 2009 9:15 PM
Moderate |Flag for review

I find it amusing that American Express is putting their good customers (full disclosure, I've had a similar experience) through this. I mean, we're not the ones who had to call ourselves a bank holding company and go begging for a taxpayer bailout...

But hey, glad Ken Chenault gets to remain employed as a result of taxpayer largesse. Go easy on that gold card, Ken!

Reply
","
\"user-pic\"
snowburnt
January 21, 2009 9:16 PM
Moderate |Flag for review

don't pay your cards off in full! maintain a small balance!

Reply
1 replies
\"user-pic\"
ExtraCelestial
January 21, 2009 9:36 PM
Moderate |Flag for review

@ClarenceCochonTheEasterPig: HA! That's why I always say be nice to those in the service industry. They can and will fuck up your life. Instant karma.

Reply
","
\"user-pic\"
Its_Miller_Time
January 21, 2009 9:17 PM
Moderate |Flag for review

American Express has cards that allow you to carry a balance (Blue Products, Many CoBrand Products, Clear, etc). There are also cards that you have to pay off in full each month - known as CHARGE cards.


Also, to say that AmEx makes no money off of you if you pay it in full each month is just BS. It's called the discount rate - and it's the rate AmEx charges the merchant to accept the AmEx card. It can be any amount so AmEx does make money off of you just for using it...

Reply
1 replies
\"user-pic\"
dialing_wand
January 21, 2009 11:10 PM
Moderate |Flag for review

@Its_Miller_Time: And if you do have a charge card with them, there's a good change you're paying an upfront free. In Canada a gold card is $199 CDN and a Platinum card is $399 CDN.

Fees are high and the value of the card depends on how you use it.

On thing that sets the seemingly ridiculously priced Platinum card (who cares anymore) is the rental accident insurrance. Oh sure, lots of cards cover your rental car. But very few (and the Platinum is one) do it with a 0$ deductible. Even the Gold card has a $250 deductible.

Just sayin'.

Reply
","","
\"user-pic\"
jscott73
January 21, 2009 9:31 PM
Moderate |Flag for review

AmEx did this to me on Monday, I had been a card holder for over 3 years, never a missed payment, never a late payment in my 18 years of having credit, then I went to buy gas and it was declined.

Thankfully I always carry my debit card too but luckily I wasn't traveling since the only credit card I has on me was AmEx.

I called AmEx and the rep was like \"Yeah it was declined because your account was closed effective yesterday\". No warnings, letter or emails. She transferred me to a \"specialist\" who said the same thing but sounded annoyed.

I just explained that they are losing a customer for life because of this and since I am only 32 that was going to be a big loss for them.

They think they are making sound financial judgments but it seems like their approach to this will backfire in the end as all these people they cancel will hopefully swear off AmEx for life.

Reply
","","
\"user-pic\"
Eyebrows McGee (now with more baby!)
January 21, 2009 9:34 PM
Moderate |Flag for review

Can Consumerist call AmEx and get the 411 on this? I love my AmEx, and this pattern of apparently reasonless, random cancellations is making me very nervous.

Reply
3 replies
\"user-pic\"
West Coast Secessionist
January 21, 2009 11:57 PM
Moderate |Flag for review

@Eyebrows McGee: Heh heh. You'll keep loving them until they finally come for you. Good luck, though. I hope you dump them before they dump you. :/

Reply
\"user-pic\"
Eyebrows McGee (now with more baby!)
January 22, 2009 12:20 AM
Moderate |Flag for review

@West Coast Secessionist: Yeah, but every other card I have keeps getting bought by B of A. Not much better!

Reply
\"user-pic\"
MsAnthropy
January 22, 2009 2:23 AM
Moderate |Flag for review

@Eyebrows McGee:

Ugh, Eyebrows McGee, just do a Google search on \"AmEx credit line decrease\" or... hell, just spend a few idle minutes scanning the credit card forum on myFICO.com or CreditBoards.com... it's depressing stuff. Some people post about the adverse action AmEx have taken against them and you can think \"ooh, I can see why they did it\" and others... the majority, in fact... you're left casting around trying to figure out what on earth they could have possibly done to upset American Express. Lived in the wrong part of the country, had a mortgage through the wrong lender, shopped at the wrong store... who knows, but it's happening to plenty of people who've never been late on a payment, aren't knee-deep in debt, have good credit scores, and are genuinely utterly bemused as to why this has happened.

After reading about so much of this, I have to say I'm stunned my AmEx accounts and their credit lines are still intact. Not that I've done anything \"wrong\", but it seems that just the mere fact of having an AmEx product in your purse can be enough to make them dislike you. :(

Reply
\"user-pic\"
jeffmac
January 21, 2009 9:36 PM
Moderate |Flag for review

@Eyebrows McGee: It seems unbelievable that they're destroying the considerable goodwill of \"don't leave home without it,\" but here we are.

Reply
","","","
\"user-pic\"
pmcpa2
January 21, 2009 9:42 PM
Moderate |Flag for review

there is more to the story... Did the OP call and ask why is limit was so dramatically decreased? In not, how can you have a business trip that you spend less then $2k on including room and flights?? something doesn't add up. I'm also self employed, have an Amex Platinum card, and Amex has been nothing but A+++ to me and my business. Even increased the limit when everyone else was getting decrease limit notices.

Reply
3 replies
\"user-pic\"
MsAnthropy
January 22, 2009 2:25 AM
Moderate |Flag for review

@pmcpa2:

This is happening to a LOT of people who have previously had a fantastic relationship with AmEx. When they call to find out what's gone wrong, they get read some scripted nonsense that explains nothing. There really does NOT have to be more to the story than this. I hope it doesn't happen to you.

Reply
\"user-pic\"
jscott73
January 21, 2009 10:36 PM
Moderate |Flag for review

@pmcpa2: Yes I was saying how great AmEx was too until they canceled my two credit cards with them on Monday.

I don't care if there is more to the story, if something happened to the OP's credit or what not, AmEx has decided to close accounts without notice time and time again, that should be enough for anyone, not just those affected, to swear them off.

Luckily I paid mine off all the time and was not reliant on them but there are many people out there that could be drastically hurt financially by a move like this. AmEx is only making the economic situation worse by doing this.

Reply
\"user-pic\"
Coelacanth
January 22, 2009 2:09 AM
Moderate |Flag for review

@jscott73: I was singing their praises, too, until I noticed on my last statement my rate had been hiked a bit. I was pretty sure that they had to notify anyone about Changes in Terms and Conditions in a separate form of communication, since I normally toss my paper bill aside since I pay my bill online.


After I complained, there was nothing I could really do. My fault for not keeping up with due dilligence. Nonetheless, Amex is no longer my favourite card company.


That said, they're still better than Bank of America.

Reply
","
\"user-pic\"
priorORANGE
January 21, 2009 9:46 PM
Moderate |Flag for review

After being a loyal customer for years, American Express reduced my credit line to a third of what it had been. I called their service lines and they really don't care. I canceled my card with them and went the extra step of closing our business accounts with them. After sharing the story with friends and family, I figure they have lost about 20 accounts because of this. They have lost a customer for life!

Reply
","","
\"user-pic\"
Roxanne
January 21, 2009 9:59 PM
Moderate |Flag for review

I received a letter from them just earlier this week, informing me that my credit limit had been reduced by about 25%. It's one of the Blue cards, so I carry a balance, but I've been paying regularly and responsibly. Like so many others have said, it's like they're doing this randomly.

Reply
","
\"user-pic\"
Froggmann
January 21, 2009 10:02 PM
Moderate |Flag for review

All the while they have been advertising on TV like crazy to recruit new cardholders.

Reply
","
\"user-pic\"
Anonymous
January 21, 2009 10:02 PM
Moderate |Flag for review

They just killed my credit limit. I had a $1600 limit and now I have a $500 limit :(

Reply
","
\"user-pic\"
Yossarian
January 21, 2009 10:02 PM
Moderate |Flag for review

Is AMEX doing this only with their credit cards (Blue, Optima, whatever)? I see mentions of reducing credit lines and their charge cards, as far as I know, don't have (explicit) limits.

I've gone through the Green and Gold cards and now have a Platinum (the Black card will have to wait until I win the lottery). I've never had any issues with AMEX. On the couple of charge backs I've had and the one time a store refused to accept a return, AMEX went after them like a rabid weasel and resolved the situations to my 100% satisfaction. I'd use the card for every purchase if I could.

As far as people still using cash, I literally don't remember the last time I paid cash for anything.

Reply
2 replies
\"user-pic\"
MsAnthropy
January 22, 2009 2:27 AM
Moderate |Flag for review

@Yossarian:

There's been quite a few reports of AmEx imposing spending limits on their charge cards. So your \"no preset spending limit\" Green/Gold/Platinum card might suddenly develop a limit of $1,500, or something. Of course, there always IS an \"exposure limit\" on them (I mean, just because the card supposedly doesn't have a credit limit, just go out and try to buy your own airplane or something on it and see what happens...!), but they have now taken to imposing real credit limits on some poor unfortunates who pay a fee for the privilege of an AmEx charge card. :(

Reply
\"user-pic\"
Cat_In_A_Hat
January 21, 2009 11:34 PM
Moderate |Flag for review

@Yossarian: $2000 limit on my Blue Card still active. Keeping the fingers crossed they don't lower it.

Reply
","
\"user-pic\"
Bittles
January 21, 2009 10:04 PM
Moderate |Flag for review

That's hilarious to me, not your story, but the fact that AMEX is nixing accounts from loyal users. I recently applied for an AMEX Gold card and was approved. I have no spending limit, and made it clear on the application that I am a student with limited income. I guess they're hoping that I'll keep the account for a year, then they'll charge me the $250 'membership' fee to retain the card.

Reply
1 replies
\"user-pic\"
larrymac808
January 21, 2009 10:26 PM
Moderate |Flag for review

@Bittles: I'm pretty sure if you read the fine print you'll see that you have no pre-set spending limit. Try to charge that shiny new Audi R8 and you'll find out pretty quickly that the transaction won't go through. Also, AFAIK, the annual fee on a Gold Card is still less than $100.

Reply
","
\"user-pic\"
Chris Thompson
January 21, 2009 10:13 PM
Moderate |Flag for review

I had an American Express Platinum Card. They cut my credit limit from 10K to $600. This is on a card with a $200 annual fee. The CSR couldn't offer me any answers as to why they cut the rate, but was nice enough to see the idiocy in having a card with a high annual fee and no credit limit. She moved my balance to a blue card...I'm wondering how much longer Amex will allow me to keep this card. They obviously no longer want my business.

Reply
5 replies
\"user-pic\"
Pixelantes Anonymous
January 21, 2009 11:20 PM
Moderate |Flag for review

@Chris Thompson: $600 monthly limit on a card with $200 annual fee. My God. What a deal!

That's 2.8% in annual fees if you use the credit limit to its fullest every month of the year. Where do I sign up!?

Reply
\"user-pic\"
Yossarian
January 21, 2009 10:45 PM
Moderate |Flag for review

@Chris Thompson: Where do you see your limit on your Platinum Card? I don't see a limit on my statement or online anywhere.

Reply
\"user-pic\"
dialing_wand
January 21, 2009 11:14 PM
Moderate |Flag for review

@Yossarian: I think there's some confusion. I don't know about the US but AMEX Canada has \"The Platinum Card\" (a no-pre set limit - there is actually a limit but you can search online for that one) and a \"Platinum Credit Card\". The later has no fee but few attached services.

Reply
\"user-pic\"
econobiker
January 21, 2009 10:34 PM
Moderate |Flag for review

@Chris Thompson: Maybe they are trying to convert the accounts to Blue ect where they figure people will NOT pay off their accounts each month and thereby be more profitable???

Reply
\"user-pic\"
jscott73
January 21, 2009 10:39 PM
Moderate |Flag for review

@econobiker: The two cards I had that were canceled were Blue and the True Earnings through Costco. True I did pay mine off every month so maybe that is who they are targeting. Whatever, just avoid them and your life will be happier.

Reply
","
\"user-pic\"
evilcharity
January 21, 2009 10:15 PM
Moderate |Flag for review

In related news, AmEx not accepting payments right now. I'm told to try in a few hours. bleh.

Reply
1 replies
\"user-pic\"
STrRedWolf
January 22, 2009 3:01 AM
Moderate |Flag for review

@evilcharity: Their website still accepts them. Keeping an eye on my bank account to be sure.

Reply
","","","","","","","","","","","
\"user-pic\"
Corporate-Shill
January 21, 2009 10:57 PM
Moderate |Flag for review

Visiting the adult entertainment venue every time you are out of town is reason enough to cancel your card.

Reply
","","","","","","","
\"user-pic\"
Keter
January 21, 2009 11:35 PM
Moderate |Flag for review

I gotta say it...go get a card through a credit union. I've never heard of anyone getting a surprise reduction or cancellation on a credit union card.

Reply
","","","
\"user-pic\"
odinzero17
January 21, 2009 11:53 PM
Moderate |Flag for review

AMEX never tells you your credit limit on either its charge cards (green, gold, platinum) or their credit cards (Blue, Clear, One) however you do have one, you just don't know what it is until your card gets declined.

I was paying for things on this card that I was reimbursed for (college tuition) and had a balance on the card as high as $12,000 before it got declined at a gas station.

I just got a notice in the mail saying they're cutting my credit limit down to $2,310, exactly. Which just happens to be about $10 over my outstanding balance. I also just logged into my account today and under outstanding balance it says \"$4 available credit\". So it looks like they're now telling all their customers how much they have left to spend.

While I have to give it to Amex for trying to be proactive and stop some of their losses before the credit card bubble breaks, I honestly believe that this move will backfire and end up hurting their reputation long term

Reply
","
\"user-pic\"
pferde_schwanz
January 21, 2009 11:57 PM
Moderate |Flag for review

my credit limit was reduced by 5k after i paid off my balance. i noticed this before putting a 5k charge on my card - thereby going over my new limit.

weirdly, when i checked my balance again, my limit had returned to its previous level. all of this occurred without any notification.

F'd up.

Reply
","","","
\"user-pic\"
WTFN
January 22, 2009 12:48 AM
Moderate |Flag for review

With credit card companies canceling accounts of people with good credit scores and their account is in good standing. Don't this affect those people's credit score by lowering it?


This is why I hate credit report agencies. They will view a closed account as a negative even if the card was closed by the company with a strange reason and reduce the customers credit score.


It would be very nice to see a class action lawsuit against companies that randomly close good standing accounts. That or just regulate the credit report agencies so that accounts that are closed by the company for stupid reasons would not reduce the credit scores of the customers.


If the companies can do stupid things like this then what is really the point of trying to keep control of your financial responsibility. We pay on time and bail them out when they need help and they screw us over by canceling accounts for the most strangest reasons.


Hell why don't we just cancel their bailouts and request payment in full!!!

Reply
1 replies
\"user-pic\"
Ninjanice
January 22, 2009 3:25 PM
Moderate |Flag for review

@WTFN: Just found this:
[www.my3cents.com] May offer some help for those who have had Amex screw them...

Reply
","","","","","","","","","
\"user-pic\"
Travis Tanner
January 22, 2009 2:46 AM
Moderate |Flag for review

Is this all simply done by computer? My limit was reduced by 50 percent yesterday!

Reply
","","
\"user-pic\"
mastmaker
January 22, 2009 3:14 AM
Moderate |Flag for review

Funny. I have an American Express for about 6 years now, 12k limit, pay in full every month, get 1% or so cash back.......in effect a zero profit customer for them. They HAVE not reduced my limit OR increased my interest rate at all. Neither during this credit crunch nor before. Their excellent customer service is the main reason I stay with them (use it for 80% of all my personal expenses), basically.
Oh, and I regularly shop at Costco and Walmart too (and Never at neimann marcus or 5th avenue or any such places). No shame in it.

Reply
","
\"user-pic\"
PricklyPete
January 22, 2009 4:20 AM
Moderate |Flag for review

Face it, Amex doesn't give a crap. Doesn't matter how long you've been with them or how prompt you've been with your payments. At least that's my experience.

I'm sorry that you had to find out in such an inconvenient way.

I guess all I have to say is that those of you who think it won't happen to you should take another card with you when you travel...just in case.

Reply
","
\"user-pic\"
dvdmovieking
January 22, 2009 4:54 AM
Moderate |Flag for review

Amex notified me by email that my limit was being reduced to $75 under my current balance. I called and they wouldn't raise me back up and they promised that I wouldn't be charged an over-limit fee.

Reply
","","","
\"user-pic\"
TShK
January 22, 2009 5:27 AM
Moderate |Flag for review

This is bizarre. I have a BofA branded AMEX which should be some horrible combination of evil, but just today they raised my credit limit and lowered my interest rate. I only carried a balance for a short time on this card when I moved out on my own, and afterward payed it off every month. It has had a zero balance for a while now. I think I'm in bizzaro finance world.

Reply
1 replies
\"user-pic\"
Anonymous
January 23, 2009 7:05 AM
Moderate |Flag for review

@TShK: Bofa branded Amex cards are NOT owned nor serviced by Amex. Bank of America is the bank behind the card. They simply pay a fee to Amex to have amex be the network. Bank of America is lending you the money, deciding your credit limit etc.

Reply
","
\"user-pic\"
MikeVx
January 22, 2009 6:41 AM
Moderate |Flag for review

Several years ago, the idiots under discussion suspended my revolving credit without a coherent explanation just before a delicately balanced series of events. With the unexpected loss of that payment path, the event chain collapsed.

I canceled the card and when paid off, I told them never to contact me again under any circumstances. They at least had enough sense to take that seriously.

The nature of the disruption was such that I still get blood-boilingly angry when I think about it. As far as I am concerned, the only proper state for those vermin is trapped under the smoldering remains of their financial empire. I hope the happenings listed here are a sign that the whole cesspit is falling in on itself.

Reply
","
\"user-pic\"
Jimmy Kilpatrick
January 22, 2009 6:48 AM
Moderate |Flag for review

I had a similar experience-while traveling from Atlanta to New Orleans, I filled up in Atlanta and again in some pit stop in Mississippi. When I reached New Orleans, I took my grandparents out to dinner...and discovered my card had been REJECTED!

After 20 minutes on the phone, it turns out that AMEX has a policy regarding fraud: \"Should a customer's card be used in two different states for gas in rapid succession, a fraud alert will be placed on the card and credit will be stopped until the customer calls to verify the proper possession and use of the card.\"

Seriously, I've never heard anything so RETARDED. This leaves road-trippers completely screwed, especially since the only way to discover this limitation is to activate it. WTF.

Reply
","
\"user-pic\"
t325
January 22, 2009 7:12 AM
Moderate |Flag for review

The only AMEX I carry is a corporate card for work, and considering I work for one of the largest companies in the US (who has been featured in a negative light on Consumerist many times, I'm not naming names though. But it's not Wal Mart. I have morals.), I don't worry about it being declined, reduced or canceled.

I've read too many horror stories about AMEX for me to go out and get one on my own. Say what you want about Chase, but I have never, ever had any problems with them, and I've never paid them a dime in interest either.

Reply
","","","","","","","","","","
\"user-pic\"
mom22bless
January 23, 2009 1:17 AM
Moderate |Flag for review

Oh wow....if a hotel EVER did that to my card I would raise bloody hell. What if they were with children or someone elderly? That's just plain sick...

Reply
","
\"user-pic\"
FiorellaMajumdar
January 23, 2009 3:54 AM
Moderate |Flag for review

I've paid my Amex on time for years, and they get about $120 a month in interest from me meaning I'm not an unprofitable customer for them. But in the course of two months they took my $40,000 line and dropped it to $600 over my current balance, and then increased my interest rate by a third. Maybe they were pi$$ed I cashed in my 120,000 points last month after realizing they were slowly, but inexorably, sucking the life/value out of the program? It's entirely their fault they're roadkill these days, but they're screwing not only those who pay their full balance every month, but those customers who reliably pay their bills but carry a balance--and pay interest--because they believed the marketing hype that Amex wanted to help small businesses with cash management.

All they managed to do is make me birth and nurture a pretty nasty grudge that, when the better times come (and they WILL), will result in my not only eliminating them from my business plan, but will make me an ardent critic to any other business owner who even considers using them. I WILL make sure this costs them thousands of times what they cost me.

Reply
","","
\"user-pic\"
Anonymous
February 27, 2009 6:27 PM
Moderate |Flag for review

Same situation with me, canceled my card as of Feb 20th 2009, never been late, perfect payment history always 5 or 6 times the minimum amount. I am 25 years old and they have REALLY lost a customer for life. Also, I am in Europe at the moment, luckily I have Capital One, which rates very high in my book compared to AMEX. Unfair.

Reply
","
\"user-pic\"
NewYorkNY
March 6, 2009 10:15 AM
Moderate |Flag for review

I applied for a Gold Rewards Plus card in October after receiving an invite in the mail. Soon after, I received it in November and bought a TV, and some other items that added up to just over $900. I paid nearly the full amount on my first statement before the due date and AMEX canceled it on December 25, 2008! I had the card for less than two months!

Even worse is that these CHEAP bastards didn't hold up their end of the deal for 2 free domestic airline tickets that were promised. They even sent literature stating that I know had 50,000 points in my Membership Rewards account!

AMEX IS SH!T

Reply
","
\"user-pic\"
Anonymous
March 27, 2009 7:34 PM
Moderate |Flag for review

Happened to me 2 weeks ago. no warning. I always paid my balance in full on time each month. Never once been late. I found out when my car insurance tried to charge my premium and was declined. I called AMEX, they said it's been cancelled and that they mailed me a letter on 3/14. Today's 3/27 - still no letter. Same day S&P downgraded them. I call that Instant karma

Reply
","","
\"user-pic\"
Anonymous
July 4, 2009 5:36 PM
Moderate |Flag for review

I got an Amex card a few months ago at Costco, I have avoided them for a long time due to their annual fees, and my distaste for credit cards in general (thanks Dave Ramsey). I only got the card because of the 3% rewards on dining out and gas, my largest expense category besides my mortgage. I took my family out to dinner and attempted to pay with my Amex. Come to find out it was denied. I had just gotten back from a business trip so I thought maybe I triggered some fraud alert. I called Amex today and they said they canceled my account! This just after I paid my balance in full. To add insult to injury I'm also denied the rewards I earned while I had the card. Amex has lost a customer for life and I will be sure to tell everyone who will listen.

Reply
","
\"user-pic\"
olegonzo
February 3, 2010 2:34 PM
Moderate |Flag for review

I travel regularly and it's the only time I really use my cards. I've come to realize that the only way to ensure that your cards are functioning while you travel is to call them before you leave and tell them everywhere your going.

Even this doesn't always work. I did this and a charge was still blocked in the Frankfurt airport. But at least when I called they noticed that I had called and told them I was traveling.

It's so annoying because they screw around with you, but then the only human being you can talk to is somebody who doesn't deserve to be yelled at.

This is by design. These CC companies are into some major scumbaggery -- and then these scumbag architects of usury and deception hide begin minimum-wage CSRs. You can never shit on the person who deserves to be shit on.

PS: I have no debt and pay my balance on time. My credit score is very good. And is STILL get fucked with by these assholes. It's become a facot of life -- like death and taxes, dealing with the Satan of credit card companies is unavoidable -- at least if you want to live normally in a modern society by building good credit instead of \"dropping out\" like a fucking stinky Eugene, Oregon hippie on some 'shroom farm.

Reply
");