Amex / Credit line reduction
While am on a business trip in Africa. Amex reduced my line of credit by $25000 to less than the balance on my account; rendering my card useless and causing me embarrassment and costing me money. Amex sent me an email that you had reduced my credit line. I am appalled at the way Amex treated a loyal customer like me. In 2007 I spend over $100000 on their card yearly. My average monthly balance in 2007 was over $8000. Thus, setting my credit line to $4000 would certainly disable my card. It would seem that they may have checked these simple facts before they made my card unusable while I am on an international business trip. In addition, I had wait for many minutes for a supervisor to increase my credit line (temporarily) so I could continue to use my card. The reasons Amex gave for reducing my credit line are not consistent with my credit report. Amex representatives tell me that I have to provide data to refute their reasons for reducing my credit line. Our data sources are the same. The credit report I have from Experian says I am a good credit risk and more importantly, has not changed in the last six months. I can only conclude that Amex choice to reduce my credit line by $25000 was either an error or intentional based on some other criteria. The fact that it takes 40 minutes on hold to speak with Amex credit line help desk indicates that they may have done the same thing to many or their customers. Either way Amex have maltreated and disappointed one of your better customers. I plan to get my credit elsewhere unless they decide to restore my credit line and reimburse me for the trouble and expense they have caused me.