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 My credit line has been cut by over 78%!!!
Posted Wed April 29, 2009 5:11 pm, by Laurie K. written to American Express Credit Cards
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After having been a customer of American Express for almost two decades, I got a letter in the mail today that they have cut my credit line from over $10,000 to $2,000. All of this after they changed themselves into a bank, and received 3.5 billion dollars in bailout money. Shame on you American Express! I have never been late with a payment, and I pay my balance off completely every month. Shame, shame, shame!!!!! If this is what you do to good customers like me, what in the world do you do to the bad guys????
Reinstitute my credit limit to what it was.
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by Just Jeffrey Posted Thu April 30, 2009 @ 2:02 PM
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Kind of a microcosm of the whole bailout thing.
You've been a model customer for years (almost 20!), but you get
bitten. However, we have all sorts of people writing to Amex (and
other companies) who have missed payments that expect to have their
credit lines increased and their interest rate reduced. And, in some
cases, these requests are granted due to requirements of the bailout.
Even more so on mortgages.
The good news, at least I hope, is that you have an excellent credit
record. You shouldn't have too much trouble finding other credit
cards that'll bring you back up to the $10,000.
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Sorry, but they do not care about you as a customer. If you play with
the snakes, you will eventually get bit.
Good Day
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