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American Express Complaints - Lowering Credit for no real reason

Review all American Express complaints

American Express

Posted: 2009-03-28 by   amxexpress
Lowering Credit for no real reason
Complaint Rating:  100 % with 2 votes
Company information:
American Express
United States

My wife and I are also dealing with American Express. People beware!! Their policies are wrong and mean to do harm. We never paid a bill late and always try to pay more than the min. due. In the last 6 months we have only paid the min. twice and all the other times at least 25 percent more and sometimes even double the min. payment. They have made a negative impact on my credit and I warn anyone who uses them to be ware if you carry any balances. They offer you a high credit line at first and then start dropping the credit line to what your credit balance is or real close. This impacts your credit in a negative way. My wife and I have reported them to the Better Business. The customer service is worthless. Talking to people in Miami, Florida is also worthless. For those who do not know, but that is where the complaint department is. Do yourselves a favor and throw the card in the trash. The best thing for this company to do for America is to go out of Business. My wife and I have our credit monitored and the company instructed us that their practice is what is lowering our score. We have a high credit score; we just want it to be higher. This is just to warn people.

Please for more additional info at amxexpress@gmail.com
Comments United States Credit Cards
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 108 days ago by   ronnie tire 0 Votes
my limit was also lowered with no warning. i never payed them late since 1998. i was useing it to purchase inventory for buisnes. was 65, 000 for years i never missed a payment. american express lowere it to 10, 000 with no reason and could not give me a reason. Gina Ewell in underwritting made this decision. i told her i could not pay american express and my vendors in the same month. but i can pay amx and use it to pay my vedors as i have for years. the customer service is no help
 83 days ago by   AMEX'sStepchild 0 Votes
Similar situation -
Account owner for 3 business platinum AMEX cards as well as a personal blue cash.
First - the problem with the business cards last May. I am traveling on business and my card is declined after using it for 3 months. I call AMEX and they had frozen my card based on a *pending* credit review. We had barely used it. The (rude) lady told me that they must review personal finances since our company had been in business for less than 2 years. I am in Chicago, it is -17 outside, and I can't check into my hotel room. She wanted me to fax enough personal information to give the dumbest of criminals the ability to completely steal my identity. I was outrages and sent email to the COE. That seemed to work - I got a call from a very nice lady in the PR department, and my situation was fixed.
Now, in August, they lower my credit from $10k to $5k on my personal card based on a report from Experian. They couldn't give me details, just some vague generalities and gave me the 1-800 number for Experian. Of course, you can't actually *talk* to anyone at Experian unless you have a credit report number you have requested. I went ahead and ordered my full Experian credit report. I have no debt except for ~$300k on a house that is worth about twice that, no negative items on my credit report - actual score is 744 - termed by Experian as "Excellent". I (again) faxed their review department all of my personal finance information so they can manually review it. I don't understand why I must plead with them that I am a good customer - never a late payment, always in full, about $12k/mo or more through all of my cards. Just on the merchant fees they are making roughly $10k/year off of me - I don't understand.

The great thing on the personal card is that they lowered it to $5k without warning, which left me $178 available balance for the rest of the month. Not that I don't have other cards, but AMEX had been my preferred card for everything.

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