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American Express / closed account

1 Longview, TX, United States Review updated:

I have been an American Express cardholder for 15 years, that is until I received a notice in the mail today that they had canceled my account. I paid my account in full on Feb. 18 and then on Feb. 19 they decided that I supposedly had some derogatory items on my credit report. Now mind you, I looked at my credit report and there is nothing save some medical bills which have been paid in full according to a payment arrangement that I made. For 15 years I have had this account and it has been in good standing. How's that for customer loyalty? They certainly didn't offer me any money or give me the opportunity to close my account.

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  • Mm
      19th of Jun, 2014
    0 Votes

    I was a customer for over 5 years. My husband and father died within 2 years of each other - resulting in 2 late payments in 1 year. I contacted AMEX to explain my situation in detail. Although their representative seemed friendly enough, she refused to listen to a long time customer and increased my rate to a whopping 27%.

    Each time I lowered the balance by making double payments, they sent me letters reducing my credit limit - indicating that their review of my credit history resulted in the reduction of my limit with them. They continued to charge the exorbitant interest rate.

    ZERO late payments for 2 years and they sent me a letter closing my account because of 'negative' reports on my credit. I had to endure a short sale of my home due to the loss of one income in my household. Never once making late payments them.

    There is no excuse for the behavior. To hell with the credit card, that's not the issue. The issue is their predatory behavior towards people - especially minorities. It's disgusting. They literally hold their customers in a hostage situation. They continue to charge 27% interest every month on an account they closed.

    What happened to AMEX - their reputation and consideration for their long time customers is gone.

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