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American Expresscredit limit reduction

Review updated:

I recently returned from Afghanistan.

After inacting the federally mandated Service Members Civil Relief Act American Express told me thay had recieved negative cret information from Equifax and had to reduce my available credit.

I pulled my credit report and discovered my credit is super-clean without a single mark with a credit score is "excellent". My American Express account has always been paid in full and I have A+ credit. After years of trusting AMEX I find that I have no faith in the company. Who knows if the card will be accepted or declined when used. American Express FIRST lowers the available credit THEN sends out a notification letter. I guess they have better things to do than make money off of my business. Good riddence!

AMEX reduced my credit limit as an act of revenge for my enactment of the Service Members Civil Relief Act. How do I know? This is the second time they reduced my available credit and both times it was within days of either enacting the Service Members Civil Relief Act or days of renewing the Service Members Civil Relief Act. Coincidence? Nope!

I will be looking elsewhere for my financial requirements. American Express can no longer be trusted. Beware: they are beginning to show signs of financial collapse.

Da
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Comments

  • La
      Dec 17, 2008

    They lied - it was American Express's decision to cut your limit - YOUR CREDIT RATING had nothing to do with it. IT WAS PURELY A BUSINESS DECISION. ALL THE CREDIT CARD COMPANIES ARE DOING IT!

    Its the economy - they are claiming it was your credit rather than admit it was a company decision They ARE DOING IT TO EVERYONE!

    0 Votes
  • Ca
      Dec 18, 2008

    Welcome to the club! AMEX took away 70k of our available credit with no warning. No lates, 700+ score. What they are doing should be against the law. I wrote a blog with some things I did to fight back:

    http://amexcreditreduction.blogspot.com/

    The funny part is they are also asking for BILLIONS from the bailout bill. The same bill that was passed by congress to INCREASE lending!

    Once again, they little people get the shaft, while corporate america gets a bailout. Shameful. Shameful Shameful.

    0 Votes

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