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 go out of business!!
Posted Sat November 15, 2008 3:29 pm, by sally w. written to American Express Credit Cards
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I have always paid my American express on time and when I pulled my credit report yesterday I did not have one late payment over the years on any of my credit cards...so why lower my limit? I am leaving American express because of this...i was a great customer and now I can't wait to say goodbye to them. Also, i look forward to sharing my horrible experience with everyone I can so people know how bad they will be treated at American Express!!
Go out of business!!
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by chee Posted Mon December 8, 2008 @ 7:12 PM
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i agree
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by TxDrifter Posted Tue November 18, 2008 @ 5:58 PM
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They did the same thing to me. I can't pay cash as these are travel
and business expenses that are to be reimbursed later and I do not
have $10k-15k usable right now for that purpose. A divorce does
wonders to your available funds. To make it worse, they did this
subsequent to a move to their Platinum Card.
I am pursuing other options, but after not using credit cards for so
long nobody is giving them out with a limit that is usable for that
amount of money in a month right now. I am making sure everyone I
know is getting passed the same information, including a relative who
uses their cards to the tune of a about 50k or more a month.
This practice is likely to cost them more business rather than saving
it.
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by Donno Posted Sat November 15, 2008 @ 6:21 PM
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I think they are trying to *avoid* going out of business. Many credit
card companies are tightening up their accounts, lowering limits, and
more severe measures to reduce their exposure to risk. Credit card
delinquencies and defaults are expected to rise rapidly in the current
economic downturn.
It has come into vogue, for some reason, to encourage companies to go
out of business. I have some companies I no longer do business with,
but I don't wish them to go out of business. The economy is bad
enough as it is and unemployment may go to 10% before we recover. We
don't need more people unemployed.
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