I, too, was the newest victim of Amex. I have been a member since 1997. While my credit is in the upper 600's, I have an office card, a home card and a blue with Amex and always valued Amex as a tool for both business and home use. Except when my sister passed away this summer, I always pay my credit with them and while I carry a balance (with significant interest) it gets paid back regularly. 2 months ago, Amex cut my gold card line. Last month they cut my blue line and again this month cut my blue line. Meanwhile, companies like Discover and Citi are offering me additional credit. I find Amexs' actions to be reprehensible. They do not reflect banking foresight but rather an increase in fear regarding the markets, which than affects people who use Amex for multiple purposes. Moreover, while they are lowering credit availability, they are also summarily ruining credit, the same credit upon which they claim to rely when making these decisions. It is simply like playing a game of lining up the dominoes. I will not continue to use my amex card and am looking for alternative means of credit. I also plan to write to Costco.