Comments on: My Letter To American Express

By: Brad

Brad — Fri, 31 Dec 2010 20:22:10 +0000

Boycot American Express

I was a 13 year member / customer of American Express. With A credit score off 800 and decided to open a Import furniture company. American Express did a great job offering me 5 accounts with credit of 150k with low aprs and continued to market me and offer more account. I pay all my debts on time and importing counted on American Express for my container purchases.
This is what American Express can do for you
They will offer you loads of great deals, but watch out here is what they did to me.

2 years agog they told me my Gold account ad earned 40k + earned spendatures, then when economy took a turn they quickly lowered it to 22k and said your fico score changed, it hadnt changed until they did this to all 5 account I had with them maxing out my cards making it appear as I was debtited out.
November 2010 they called me before my cut off date asking for a payment, I stated my cut off date was next week and that no payment was due. They contiinued to beg to set up a payment, I said why are you calling I always paid my debts on time, I paid 65k off in debts this year, she replied oh yes and 25 k off on your account s with us, you are a excellent customer fo 13 years, then said can we set up your next payment. I said no, I will pay it as I always do, the day before my statement date tehy emailed me a letter saying,
So there are no surprises when using your account we lowered your limit on your gold card t0 1500.00 stay in your limit oor you will be embarassed at checkout.
I called a supervisor aginwas told my fico score changed, (i ran a crdit report and no changes EXCELLENT CREDIT). Then said if you give us 3 years business taxes maybe we will give you a little bit back, I closed all acount told her she was damageing my acsh flow for my company and importing and it was all or none, meaning work this out or it would cause me into default,she replied your fico score created this …I have my credit report printed and its excellent.
I had a container departure leaving indonesia and needed it, I had to use the money I would have paid them to get my goods to save my business, I in turn incorporated my business, homesteaded my home to protect me from them. I sent them the Sease & desist letter as I was advised to do so. I sent them a letter to do debt consolidation and immediately they sent me to collections. I now had to do the same thing to their collections whol are very rude. All this at the holidays, I have survived with my company through all the hurdes of the economy and they have made it to almost close my company due to my cash flow. Next on my list is Chase. I am starting my New Year off with the theory “support small Business” never bank or einvest in large companies , minimize doing any sort of business with corporations if there is a company local you can do business with do so.
If anyone has any ideas or success stores, please email me on my next step with American Express.
By the way the points they give you, they truely dont give you, MERCHANTS PAY POINTS WHEN YOU USE YOUR CARD AT THEIR BUSINESS. Lets all pay cash and Take these companies down once and for all.

AMERICAN EXPRESS NEEDS TO BE CLOSED!

By: vanessa

vanessa — Fri, 27 Aug 2010 02:40:03 +0000

Hello,
August 26, 2010
My name is Vanessa I applied for my Amex card for the first time my create score is 726 and my CL was 2000 mind u this is the first month I have gotten my card and use it a lot so I can get the flying miles. Only two weeks of using my card and I used about 1200 but I paid $1000 early because I didn’t want the balance to be low. I get a email saying my account is canceled WOW! what a shocker. So I call them asking why my account was canceled they give me some BS excuse that my credit went down yes it did not by much but because I brought a new car and have got few new credit cards; but we all know when you run your credit and get a car your credit score will go down a little but will shoot back up in 1 month or 2. Now I worry about the impact on my credit this will make because they canceled my account but it was literately for no reason and not my fault I still have to pay what I used within 90 which is not a problem, but I’m upset cause I can’t use my card anymore and I think its very unfair that they can do that and I hope and pray it does not mess up my credit. If I would have known this would happen I would have never applied for this card and I strongly recommend people don’t apply for any Amex card.
Thank you for reading
*Vanessa

By: Robert David S

Robert David S — Thu, 17 Dec 2009 04:53:15 +0000

Well, today I was cancelled. Admittedly I have poor credit right now, but AMEX had been kept in reserve. A couple months back I paid everything in arrears and was squared away.

As I rebuild I was using AMEX to secure a car rental and a new PC. Having just been paid, and having a $1000 AMEX balance all but a few days old, I logged onto the website to pay them — and bam! — everything cancelled.

21 years and a boatload of money thru them and I’m left high and dry. Eventually I will pay them, but in the meantime I think I’m going to let it run 90 or 180 days behind at this point. Let ‘em suffer.

By: Brian W

Brian W — Mon, 14 Dec 2009 03:28:45 +0000

New problem with American Express.

A month ago I received a pre-selected offer for their Premier Rewards Gold Card (which is also heavily advertised). Among the benefits included 25,000 bonus points to join, 2x or 3x points on certain purchases, and waiving the first year annual fee ($175). I joined, and within a couple of days was approved and had my cards sent to me. No problems so far…

A week ago I received a bill. It was noticably higher than it should have been. Why — the itemization reported a $175 annual fee charge. I went online to check details on Membership bonus points, and you guessed it…no bonus points. So I called.

Got a young woman (18 or 19) I would judge. I brought up the annual fee issue and the bonus points issue. With an air of finality, she said, “No such offer exists.” I saw red. I said, with some degree of self-control, “I have the offer here, in writing, from your company, and it’s spelled out on your website as well.”

So, after twenty minutes of wrangling, she told me that I needed to fax the original letter from American Express to have them honor the offer. I did that a week ago with a cover letter asking for a follow-up call. No follow-up call has happened.

So…I get to call them tomorrow to determine if the issue has been resolved. If not…I will pay off the balance, stick the card in a drawer for a year so that I can get a credit score bump from it, and then cancel the card before the renewal date.

By: Joe

Joe — Wed, 02 Dec 2009 17:03:52 +0000

I too had a negative experience with American Express. After being a loyal customer for 4 years, paying off balances in full each month, my credit line was cut from $28,000.00 to $12,500.00. The reason I was given by an AMEX representative (who spoke extremely poor English) was that “Changes in my credit report made my account a higher risk”. The only change made in my credit report was the purchase of a home- I have not been late paying AMEX, or any other bill EVER. More recently, my AMEX card was denied for a $245.00 purchase; finding this odd, I immediately called AMEX for an explanation. The rude, heavily accented voice told me that a payment had not been received last month, so my account is being suspended until a $50 minimum payment is received. After reviewing my records, I realized I did forget to pay the bill last month- however, this is this FIRST bill EVER missed in the account! I immediately paid the balance and cancelled my account. After being a card holder for 5+ years, I would never use AMEX again, and will be an advocate for preventing anyone else from signing up with this company. The fact of the matter is, most places prefer not to accept this card, and the company treats its customers EXTREMELY poorly.

By: Benedict R

Benedict R — Mon, 21 Sep 2009 19:17:52 +0000

AmEx screwed me also. After being declined in the check out line with a business assoc. I called AmEx to ask why this happened. I paid my balance in full and could not understand. They said if I paid $3000.00 towards my account all would be fine. I did as they said with not getting a straight answer (my stupidity) and went to use the card again. Not only was my card declined it was canceled! No letter, no phone call or nothing. This was all in a 4 day span. They gave me the same poor FICA score crap. They are just in trouble and about to go out of business is what I think. This is happening to all of us loyal customers.

By: GLOBETROTTER

GLOBETROTTER — Tue, 18 Aug 2009 05:03:16 +0000

Thanks for the 800 number for the Office of Thrift Supervision. I have a different problem. All of a sudden, AMEX is now requesting a password from me. The problem is that I never created a password and believe I have been a on time never late with payment customer for more than ten years. To add insult to injury the customer service agent stated well if you don’t have a password, then your mother’s maiden name is sufficient . I asked how did they get that information about me. The agent stated , ” ooh we use public records to attain that information!”. Then of course, I stated well that obviously can not be a secure method to verify me especially if public records are used to generate security measures? As the conversation accelerated in a downward spiral. I said I simply want to CANCEL. I am done! The agent said I can transfer you to that department but I need your password. Of course, I explained my position using lovely words like @#$% and %^^&**(()$$%^. You get the point. … They refuse to let me cancel my account. Can anyone out there provide me with the address where I cancel this $%^&**(( account?

By: iloveny

iloveny — Tue, 23 Jun 2009 23:27:56 +0000

The same thing happened to me. Over the weekend when about to pay for my grocery shopping of $46,I found out that my card was cancelled without any notification. I have been their loyal customer and always used Amex cards whenever & wherever is accepted. I was always on time, never missed on any single payments and had never carried any balance.
What a dissapointment!

Does anyone knows if the cancellation by American Express will affect my credit score. I just pulled out my credit score report from Experian, it doesn’t show any cancellation of my Amex Card and my score is 780.

By: Sheilah

Sheilah — Thu, 04 Jun 2009 23:48:00 +0000

This past weekend I had an awful experience with American Express. On 5/29/09 I flew to Illinois for my granddaughter’s high school graduation. I stopped to buy a graduation gift for $25.00 and my card was declined. When I called Amex, I was told they cancelled me that day AND sent the letter out that day! I was on the phone with them for three hours. I was told I owned a business, and when I explained I never owned a business, the rep asked why was my name down as the owner. Then I was asked for my yearly salary, phone numbers, address, SS#, etc. She said she was trying to reinstate my card, but after she “updated” her records with my current information, she said there was nothing their office could do.

I had to cut my trip short, pay to change my airline ticket, and return home earlier than planned. It was a good thing my sister came in town for the graduation because I stayed in her hotel room. I cried from my arrival date through the entire weekend. I was so depressed when I returned home, I couldn’t get out of the bed that Monday until late afternoon.

I contacted the Executive Assistant to the CEO of American Express. I explained to him on 5/29/09 I was advised by Amex my card was cancelled because my debt level increased and I had delinquencies. However, I had not incurred additional debt since they gave me a card one year ago, in fact, my debt level decreased. Also, none of my creditors have contacted me about delinquencies.

The Executive Assistant contacted me yesterday, but supported (of course) the actions of the company. I asked for a copy of my report when they initially granted credit to me last year, and the “periodic reports” leading up to now. I was told he could not give me that information.

If you have or are experiencing problems with Amex, send complaints to the following address. If you say or do nothing, Amex will continue their unfair practices. I feel they should contact consumers way in advance of cancelling accounts. I would not have used my Amex card for an airline ticket had I known they were about to cancel me. That could have been money paid towards the balance of my card.

Office of Thrift Supervision (800.842.6929)
1700 G Street, NW
Washington, DC 20552

I have had American Express Blue for one year and was never late, and paid my bill before the due date.

By: Maureen

Maureen — Fri, 20 Feb 2009 07:05:54 +0000

American Express really seems to like canceling accounts. I have been checking the internet since I received a letter today notifying me that they canceled my accounts without warning. Fortunately, I was not left stranded out of town like some people I read about. I also have never had an account canceled, pay on time, yada yada yada. The only reason I had the darn thing was to shop at Costco. So now I am not going to shop at Costco anymore. It always bugged me that they only accepted AMEX anyway. I could pay by cash or check, but I don’t carry cash much and hate writing checks, especially as I am juggling a newborn right now. Several people that I have read about have been told that they could get their account reinstated for a fee, which seems like a scam. They couldn’t pay me to do business with them. It’s bad enough that they canceled the card, but at the bottom of the letter it tells me that the fact that they canceled my card will hurt my credit and I better not try to not pay them, cause they’ll call a credit collector on me. It was like whoever wrote the letter had had a bad day and wanted to make sure I had a bad day too. It’s annoying to rub it in that they are hurting my credit, but just rude to imply I wouldn’t pay my card. At the same time, I wonder what would happen if I couldn’t pay my balance. They gave me a $30,000 limit, which I neither wanted, nor needed. If I was carrying $30,000 in debt and they said I had to pay it all now, I’d be in trouble.