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American Express (Costco Card) / cancelled card

1 Glen Allen, VA, United States Review updated:

1. American Express reduced my line of credit some months ago, rendering the card virtually worthless for travel, even when making payments "as I went"!
2. Yesterday--May 1, 2009--I received written notice of cancellation.
In the approximately 2 years I have had this card I have paid by electronic transfer from my checking account as charges were posted. I was not late one time.
If anything, I was consistently too early in paying my bills, usually making up to 8 payments a month by the electronic payment feature.
Do you think this had anything to do with my cancellation? The fact that I paid so promptly?
Does anyone know if American Express (the corporation) is in serious trouble?

Do
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Comments

  • Da
      18th of Feb, 2010
    0 Votes

    I only got the card because they were promoting so heavily at the new Costco and it made shopping there easier. Who wants to use a debit card and get the additional charges.
    So, months went by, we pay in full every month. Last month, we paid the minimum due and then get a call that they cancelled our card.
    I call and am told since my credit limit is lower than it was when I got the card, they were cancelling. Attitude to me was like tough, its your fault.
    Well, when the economy and my credit recover, I'll never get or recommend American Express.
    Oh yeah, I am going back to Sams - no more Costco.
    They just made my credit score go lower and I didn't wrong them at all.

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