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American Express / lowering credit line for no reason

1 FL, United States Review updated:

I have been a customer with American Express since 2000 with no late payments. They recently sent me a letter reducing my line of credit from $13, 000.00 to $6300.00. My experience with Amex has been an exact duplicate of a report I see here from a California customer. When I questioned their action, I too was told I had 'too many delinquent accounts' 'and I was late paying my mortagage - I do not have delinquencies and I am not late on any of my mortgages. I had pulled my credit reports prior to contacting AMEX as my bank account had recently been compromised and I feared ID theft. My credit reports were all clear: no delinquencies, no late payments. I proceeded to make repeated calls to American Express working my way up to the Department manager of their RLA department. I explained that the false information they gave me regarding 'delinquencies' had caused me a great deal of distress and wasted time contacting the credit bureaus to investigate. American Express are now telling me that what I see on my Experian credit report is not what they are seeing and 'I have too many delinquencies'. I did manage to speak with Experian directly, they assured me that the credit information they sent to me is the same information supplied to vendors. They also said they are receiving a lot of complaints from American Express customers for the same reasons I list here. I am appalled at the conduct of American Express and their blatant and willfull misrepresentation of customer's alleged 'bad credit'. I am contacting the FTC tomorrow and will update this site, I too believe this must surely be an illegal practice. If it isn't, it should be.

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Comments

  • Ra
      26th of Jan, 2009
    0 Votes
    American Express - Lowered Credit Limit
    American Express
    United States

    They lowered my credit limit from almost $18, 000 to $4000. I have a score of 725+.

    When i called, they said i have bad credit report, so i pulled my report from Experian, and nothing wrong with it.

    So i called back, and they start giving me different excuses, i just told them to close the account.

    Do not trust them, they are bad, seems like they will be out of business soon...

  • Ra
      4th of Feb, 2009
    0 Votes
    American Express - Credit line reduction
    American Express
    Thousand Oaks
    California
    United States

    Have had a credit card with American Express for 18 years with excellent standing. This week I was told that my credit card had a limit on it. This is the first time that this has ever happened and I am so shocked by Amex. I checked my ratings and I have had excellent credit payment history with them, which confuses me. I am very disappointed with Amex and will be eliminating them in future… Sorry to end a long relationship.

  • An
      6th of Feb, 2009
    0 Votes

    I just had the same experience with AMEX. They cancelled my card based on an Experian credit report that they claim they received that should serious delequency. My credit report score is 715. I have been a member of AMEX since 1986. I also called Experian and they told me that they had received a lot of complaints from other AMEX cardholder who had been cancelled even though they had very good credit report. I use my AMEX a lot and pay the balance off every months. They just happened to cancel my card last week and guess what: They were supposed to send me a cash rebate of almost $500 in February for using the card this year. These rebates are sent once a year based on the amounts of purchase you made on the card during the year. Now because they have cancelled my card they claim that I am eligible for the rebate. This looks very fishy to me. What a better way to same money for AMEX. I will contact a lawyer on this because what they did is outrageous.

  • My
      10th of Feb, 2009
    0 Votes
    American Express - Canceled my card without any urgent notices!
    California
    United States

    When I used my American Express Card today to make a purchase, it was declined. When I got home, I called American Express and the representative told me that my account was canceled. My credit is good!!!


    AMERICAN EXPRESS IS TRYING TO RUIN MY CREDIT 3 TIMES ALREADY:

    1) LOWERED CREDIT LIMIT
    2) LOWERED CREDIT LIMIT
    3) CANCELED MY ACCOUNT

  • He
      11th of Feb, 2009
    0 Votes

    I having the same problem with Amex.

  • Ad
      18th of Feb, 2009
    0 Votes

    Which card product do you have? Unless it is a charge card that you are required to pay off every month, then you have always had a limit. The only card product they offer that allows you to revolve your balance and has no limit is the One from American Express and they wouldn't be able to put a physical limit on that. So if it is a credit card with an interest rate and the ability to revolve your balance, then you have always had a limit. You just may not have been aware of it.

  • Ch
      17th of Mar, 2009
    0 Votes
    American Express - Cancelled Account
    American Express
    United States

    Yes, I too was canceled by American Express after paying my account in full. I'd never missed a payment or been late, but they cancelled my account which will, in turn, adversly affect my credit. I'm looking forward with great anticipation to see how many points come off my FICO score.

  • Kh
      9th of Apr, 2009
    0 Votes

    I just had the same thing happen to me. I tried to make a purchase and it wouldn't go through. My credit limit was extremely high and I was nowhere close to that limit. So, I called AMEX and they proceeded to tell me that my limit was reduced by over 66% due to several delinquent accounts and a poor credit score. They told me the information was provided by Experian. I was mortified! I have no debt and and a great credit score. I received my report directly from Experian to find a credit score of 745 and NO delinquent accounts or ANY late payments whatsoever. I have been a long time AMEX customer and I am outraged. I am not sure what my next step is now... but since AMEX has been absolutely NO help, I am not giving up. Today they gave me a number to fax my report to and guess what... the number just rings and rings!

  • Ni
      19th of May, 2009
    0 Votes

    They did the same thing with us. When we called to find out what was going on, they stated "cancellation due to your credit profile". Our credit profile is full of perfect on-time payments to every creditor we have! Oh well. No more $200 "anal" fee for amex. Will try to persuade any and all amex cardholders to drop amex for their poor service!

  • Wi
      28th of May, 2009
    0 Votes
    American Express - Canceled Card
    Illinois
    United States

    I was just notified that AMEX canceled by credit card using a credit report as the reason. My credit is clean. I have had the card for years, never made a single late payment, recently paid off the balance on the card and now in fact have a credit balance! Their canceling the card will reflect badly on my credit report. This is an outrageous practice and there should be consequences for a company expecting a bailout with my tax $$$!

  • Ti
      29th of May, 2009
    0 Votes

    ### american express. rat ###ing ###

  • Yo
      16th of Jun, 2009
    0 Votes

    My credit card was cancel because I had a high balance for 2 months and had balances on other cards.

    I've never missed a payment, never was late, had just payed off the perverse months balance when they canceled the card. I've have a balance of 185 dollars and they canceled my card!!!

    When talking to them they couldn't give me an answer. "It is business decision". I had over 100 dollars in cash back when they did this.

    I think I know why they are doing this. It is because of the new laws going into effect any they thought I might be a risk. You know the guy with a 719 for credit score is such a big risk.

  • Ad
      23rd of Jun, 2009
    0 Votes
    American Express - Company Scam
    United States

    American Express cancelled our cards for no reason, no late payment, paid in full every month, cancelling our card immediately after acknowleging the payment. Then to transfer our points they want to keep 5, 00 of them for a $25.00 transfer fee - not in their paperwork either.

  • Ma
      26th of Jun, 2009
    0 Votes
    American Express - American Express Canceled my account for paying the account on time
    American Express
    Leesburg
    Virginia
    United States

    American Express Canceled my account with out any problem, The main reason to cancel the account is to keep the balance pay off in full every month.

  • Ma
      4th of Jul, 2009
    0 Votes
    American Express - Terrible experience
    American Express
    United States
    americanexpress.com

    They cancelled my credit card without pre-alert and without any reason. All rewards points gone. It is unfair. We used their card and get the rewards points which they promised. Now they stolen our rewards and cancel our cards just because they are in the crisis of economic. How can they do that to the loyal customers? Does anybody know how to file the complaint and how to fight with them to solve the problem?

  • Ol
      18th of Jul, 2009
    0 Votes
    American Express - Scammers and cheaters
    American Express
    United States
    americanexpress.com

    American express took $6000 out of my Business Check account without my authorisation, just because one of my cleints did not recognise the business name on is statment 6 months after the event. The cleint owed me the money now i have to track him down. He has moved his business. What change now. American Express have no right to do that without contacting me.

  • Ri
      18th of Aug, 2009
    0 Votes
    American Express - freezing card for no reason
    Georgia
    United States

    good ole amex freezes my card about every other charge. Their "fraud" dept. made a merchant call in to question a $100 charge. I charged 11k last month and always pay the bill in full. Been a customer since '92 and never had the slightest case of fraud. Last year I billed 200k with them. Pathetic customer appreciation hassling customers

  • An
      19th of Aug, 2009
    0 Votes

    We have (make that HAD) a personal AMEX (since 1974), a business AMEX (for 8years) and were accepting AMEX via our merchant status (for the past 4 years). On 8/18, we received a letter from AMEX dated 8/11 advising us they were exercising their right under their merchant agreement to begin 'holding' funds due to us in 'reserve' under some b.s. they called a 'business decision'. Lo and behold they also cancelled both our personal and business cards this week which have NEVER had a late payment, NEVER been over the credit limit, and RARELY have a carryover balance. We have excellent credit. We were told we were 'costing' them money because we pay in full. Needless to say, we have cancelled our merchant status with AMEX (but will accept cards that 'seem' to appreciate our business) and are thoroughly disgusted with what used to be a small business, customer friendly company. The are now lower than the stuff slugs excreet. AND...took our 124, 918 award points advising because the card was closed, the points were no longer valid. HEY YOU AHs -- YOU closed the card without warning for no sensible ethical decision. Well, know what ? What goes around, comes around and I hope you get yours SOON.

  • Mc
      26th of Aug, 2009
    0 Votes

    I am reading these comments, and I am very outraged. I encountered a similar situation with Amex. I had been a cardmember since 1989, always paying on time. I have very good credit, never delinquent. A few weeks ago I received a letter in the mail from Amex requesting "financials" from me, and failure to contact them MAY result in my account being closed. Of course, I contacted them to understand what exactly they meant by "financials". They promised to e-mail me forms to sign authorizing them to review my most recent 1040 tax form I filed. That did not sound legal to me, but I agreed to look over the forms they will send. However, about a week later, I checked my account to pay a bill only to see my account was closed. I was mortified! I contacted them, and they said their decision to close my account was based on the fact that they did not receive the information they requested, even though I told them I expected them to send me forms as indicated. They also said my account was "delinquent" sometime in April (not the case). I am so angry with Amex, that I am considering going further with this. After 20 years, how could something so petty be the reason for closing my account!!

  • Pl
      30th of Nov, 2009
    0 Votes

    Thanks for leaving your experience online re: AMEX on the complaints board. I wish these practices were ONLY relegated to American Express--but such practices are pervasive in the credit industry in general. I have started a new, free social network where I hope all of us can keep each other alert to these types of practices. I'd love to have you join!:-)

    http://credicope.ning.com/

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