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American Express / cancelled my card

1 United States Review updated:

The same thing just happened to me. I payed my amex balance off every month. I went and used the card on 5/18 and on that same day, after my purchase, they cancelled my card. I called and the rep said they could not reinstate my card because I had to much credit debt. I had more credit debt and did not own my own home when I first received the card. Now I have less debt and own a home. That did not matter. I asked for a supervisor and she said it could take 20 minutes. I told her I would wait. A few minutes later she came back on and said they were having trouble with their phone system and I would have to call back. She did tell me that I could apply for a new card if I wanted to. As if.
I can't wait for the class action suit against them.

Dl
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Comments

  • Va
      24th of Jul, 2008
    0 Votes

    I work as consultant have AMEX BUS & PERSONAL CARD. AMEX REDUCED MY BUS LIMIT TO 1500 - now out of blue cancelled my personal card. I make 100k + a yr only owe house and car payment. I think they discriminate against women >55, and single. I have paid account in full and even over paid them. Have had my cards over 10 yrs. It is hard to travel without credit cards and by choice I chose amex - now they screwed my credit report by canceling. I'm looking into lawsuit. My employer reimburses me every 2 weeks and I pay balance every time. This is not justified

  • Be
      11th of Sep, 2008
    -1 Votes

    same crap happened to me and I was so closed to getting and extra 10K bonus points.

    I figure they lose money with me, because I pay it on time every month, therefore they do not make any interest off my account.

    It is actually my favorite card and it really sucks!!!

  • J1
      25th of Jan, 2009
    0 Votes

    Same here. Cancelled my card that was paid ON TIME AND sent me to collections. Sweet. They refuse to take me out of collections and since I refuse to pay $2020 up front to collections people, no one's getting anything. Can't say it's a pleasure or that I'm recommending anyone I know to get one of their cards. Several people I know are actually looking to cancel theirs after this incident. After my abusive marriage I was trying to rebuild my life and AMEX felt the need to send a paying cardmember to collections. It's funny with so many banks begging for money that they send away PAYING members! hmmmm

  • An
      3rd of Feb, 2009
    0 Votes

    They did the same to me on my costco AMEX just before I was due a large bonus for using the card. Approx $400. I paid on time all year. I'm thinking of going to the Attorney General.

  • Mi
      4th of Feb, 2009
    0 Votes

    I had $26k limit paid it down to $5k and then lowered my limit to $5k (All within 2008). I carried a 4700 balance for about 4-6 months always paying on time and making sure never to be above my credit limit. I had about $200 rebate check owed to me. They suddently canceld my Card in December of 08. By then I had paid the card off in full with a $0 balance. I went to Costco (some where in the begining of Jan 2009) and had to reapply. I was issued another card immediately and given a temp one at Costco to use (Bought some furniture). I called regarding my rebate check and they said that when the account is closed the rebate is forfeited.

    I am so pissed. It was the whole reason why I got the credit card in the first place. I am not sure what can be done. Any ideas or where I can call to complain?

  • Mr
      18th of Feb, 2009
    0 Votes

    I am on the same boat. Costco memeber. they reduced my credit line from $25K to $2200 3 months agao. I just got a letter that they decided to cancel my card 2 weeks before I was due $200. They gave me a bogus reason or tehy outlined a bunch of generic excuses that I am sure have nothing to do with me. I have NEVER been late on any of my payments. I have alwasy paid in full. I have missed any of my other payments. I think this is a class action suit in the making. Tehy are lwoering my credit score and they are trying to get out of their comittments. I think Costco should be part of this as they are affiliate with this bogus type of marketing deliquency. i honestly feel that we have a case here. If tehey are going to cancel a card, they could at least wait until you get your rewards . the timing in all of this is very questionable. How do you explain that after 11 1/2 months of accumulating these rewards, AMEX decided to cancel the card. I have since cashed in all my rewards from my other cards because I am not about to loose all these benefits whenever they decide to cancel these. I honestly looking to sue AMEX for this. I am sure there are many many consumers out there who have been taken by them.

  • Da
      4th of Mar, 2009
    0 Votes

    I was checking out this blog because of my recent experience with Amex. My Amex gold card is really the only card I use. I've paid it in full and on time for more than 10 years. I decided to apply to switch to the Amex/Costco True Rewards card and was absolutely shocked to be turned down. They came up with some bogus reasons as to why my credit wasn't as flawless as it looks like it is to me. Debt to credit ratio? Are they kidding me? What debt? My car? And about those inquiries? Oh, that's right; I bought a car. Should have known better. The supervisor that I spoke to on the phone made me feel like I was lying. Her condescending tone gave rude a new meaning. The part that really throws me over the edge is that they're getting our tax dollars...and tightening their credit restrictions. Well, that and also I've worked so very hard to be sure that my credit remains excellent. Don't get me wrong. I don't need another card; I just liked the cash rewards and wanted to use it in place of the gold card. Okay, and one last that has my blood boiling: Why are they pushing the card at Costco, giving out free stuff for signing up, if all they're really doing is encouraging you to apply, dinging your credit with an inquiry, and turning people down? And about being a woman >35? Add me in.

  • Tw
      13th of Mar, 2009
    0 Votes

    Something similar happened to me. I applied for American Express at the end of Decemer 2008 and was approved for a gold card. I made purchases and paid my bill in full on the due date. On February 25, 2009 I was canceled. When I called, Amex claimed there was a significant drop in my credit score from the time I applied until February 2009. They claim that Experian sends a credit report every thirty days and there was a delinquency on my report. When I pulled my report, the deliquency I found was something from 2003 that I paid off and is scheduled to drop off of my report in April of 2009. I also ran my TransUnion and Equifax reports. Experian was the only company reporting this old zero balanced negative report on my credit. I am pissed and have consulted an attorney because I feel that Amex should have not approved me, not give me the card, get their payments in full and then cancel the account. When I called they could not give me a valid reason as to why they canceled my account based on something from 2003 and there are no other negatives on my report.

  • St
      16th of Mar, 2009
    0 Votes

    It's really interesting to hear the possible discrimination against younger women. Today I learned from a merchant (not Amex) that my card was declined. I called Amex and they said the card was cancelled 3 days ago, yet the didn't have to notify me until 30 days AFTER cancellation. I've never heard of such a ridiculous practice. As for the reason, the Rep claimed that it was because of the high debt level I have with them - which is now nothing since I paid off my card in full earlier this year. Anyway, I'm a 32 year old single woman that is wondering how much of a factor my demographic factored into their decision. It's especially strange since in the past 2 months, I've had 2 other cards increase my credit lines without my asking and another card lower my interest rate, which leads me to believe that my actual creditworthiness is strong with any other company besides Amex.

  • Go
      9th of Apr, 2009
    0 Votes

    Same here! My platinum card was cancelled with no notice... >10yr customer who always paid on time. Something is broken in how Amex is doing this, since about 2 months ago I was told I have a "perfect" score and offered a BMW Visa credit card. I guess Amex is the looser -- I am not going back to them!

  • Wl
      15th of Apr, 2009
    0 Votes

    I have the same complaint. My Costco/AMEX credit limit was first reduced from $20k to $2k, then out of the blue they canceled my card without telling me. The card was denied at a couple of retailers, and I thought; something is wrong. So, I called AMEX, and a condescending representative told me they canceled my card! I asked her when were they going to tell me this? She had no answer. So, I guess never!!?!? She also said that they re-evaluated my credit report, and did not feel that they wanted to extend credit to me. Huh?!?!? I was speechless!

    I've been a card holder for well over 3 years, and I pay off my $1000-$2500 balance every month. It is never late. I was thinking that if they dropped me, then who DON'T they drop! I'm like the perfect low-risk consumer!

    At first, I didn't care...I got 3 other cards that I could use. BUT, the part that really pissed me off was that they forfeited the $270 rebate that was owed to me! They closed my account 2 months before they were supposed to cut me a check! How callous is that! They could have reduced my credit limit to $500, and kept my account open. But, they decided that they could save themselves $270 by just closing my account! This company literally stole from me! And, it looks like they stole from several of you too! Unfreakin believable. This company must be in dire financial trouble because these underhanded actions usually come about right before a company declares bankruptcy.

  • An
      11th of Jun, 2009
    0 Votes

    I am an almost 31 year old professional female who makes a relatively high amount, MBA degree, and have been an Amex cardmember for 5 years and have always paid on time and in FULL. Today I receive a letter that they have canceled my account.

    If there is class action lawsuit, count me in!

    Anna

  • Bl
      12th of Jun, 2009
    0 Votes

    I am a late 30-s business consulting professional with a 6-figure salary and bonus (house in LA, 2 cars and VERY GOOD CREDIT). I had an Amex Costco card with a credit limit of 42K since 1996 or so. Because I use the card for all of my personal and professional expenses and I travel to client locations all the time, Amex has been on the hook for annual cash-back reward due to me at about 1.8K each for each of the last 4-5 years. A day after I paid off the balance to 0 from an investment which just matured I found that my card was declined for a 10$ dinner check. After I called Amex they said the account was cancelled due to my declining credit score! If anyone is looking for witnesses for a class-action suit please keep me posted. I will join one as a matter of principal just to let some sleazy but annoying litigation attorney drop some flies into Amex’s ointment for being such unprofessional and sneaky lowlifes.

  • Wl
      12th of Jun, 2009
    0 Votes

    After calling Amex a couple times, they finally agreed to credit my account for the $270 cash back they owed me. Subsequently, I had to call them, and ask them to cut me a check because the account was closed, and I could not use my credit for future purchases. But...after sending me the check, they sent me a letter stating that the $270 amount is still under review for legitimacy. I'm still confused, but I'm happy that I got the money that is owed to me.

  • Mv
      7th of Jul, 2009
    0 Votes

    My husband and I recently came into some money and we used it to pay off bills. We each had an Amex card with a balance of between $3, 000 to $4, 000 each, which we paid off. We've had the cards for around 2 years, never late, never over limit - in fact, this is true for all our obligations. NEVER late.

    Approximately 2 weeks after the accounts were paid off, my husband's account was cancelled. Because my bill cycled later than his, mine was cancelled a couple of weeks later - I just saw it on their website today when I checked my account.

    I am livid, but gratified to see from this site that we are not alone. The only reason I wanted the card was because it allowed me to purchase event tickets before they went on sale to the general public - just last month, I bought tickets to see Paul McCartney in concert using the Amex presale code. Luckily I got this purchase in "under the wire" before the weasels closed my account.

    I intend to write a letter with a copy to the Comptroller of the Currency, who regulate bank cards. I suggest you all do the same. Banks are required by law to respond to such complaints within a proscribed time frame and they HATE hearing from regulators. It will cost them attorney time and money to respond, so be sure to do this.

  • Ge
      7th of Jul, 2009
    0 Votes

    My story is much the same: I have been a Costco/American Express account holder for 5 years. Last year I had my credit limit reduced. Last week I paid off my balance which was never late or over limit for any of the 5 years. Today I went to Costco and bought a battery in the tire center and my purchase went through. I went inside the store to buy some things and my purchase was declined. After calling Amex I discovered they cancelled my card between the two transactions, less than one hour apart! I lose my cash back bonus and I don't know what happens to my credit rating.

  • On
      27th of Jul, 2009
    0 Votes

    The same thing just happened to me. I received a letter saying that my credit limit was reduced (just $400 over the balance) due to a delinquency on my credit report from Experian. I got the credit report from Experian immediately and none of my 16 accounts are late/overdue.
    when I called AMEX back, they told me to fax the report and they will review and respond in 7 days.

    If there is a class action lawsuit, I am eagerly looking forward to it..

  • Ny
      5th of Aug, 2009
    0 Votes

    I am a on time payor with a low balance of $300.00 and am being cancelled because of high debt ratio? This makes no sense when I am sure there are higher delinquent card holders, they are punishing me because I am doing what I am supose to do.

  • Sa
      18th of Sep, 2009
    0 Votes

    Dear Sir,
    Myself Sagar Mal Rathi, I had credit Card no. 3770 4024 8857 006 . I have paid full amount in settlement with bank. Now i want 0 Balance showing statement (NOC) for CIBIL purpose. So Kindly send me those letter to my address which is -
    A-102 Tirumala Apt.,
    Near Ryan Intl. School,
    Ujjawal Nanda Hs. So.
    Evershine Nagar
    Link Road, Malad W
    Mumbai 400 064

    Do the needful as soon as possible
    Thanking you
    Sagar Mal Rathi
    98210 76038
    rathi_1960@yahoo.com

  • Kc
      7th of Oct, 2009
    0 Votes

    Same thing happen to me today with my gold card. Funny thing is they just renewed me, and not even a month later they cancel me.

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