Same story, but the timing in my case was really bad ... I had paid down my card by $25K in prep for a bunch of travel and a week in Europe, and as I was sitting at the airport 45 min before leaving to London a charge bounced. AmEx had cut my limit from $50K to $28K, changing my available credit from $23K to $563. I was essentially stranded in Europe with no credit card, the Friday before Easter weekend. I can imagine people who were traveling with their families and couldn't pay for a hotel, car, or whatever, all due to AmEx's arbitrary decision-making.

AmEx is reprehensible ... if they want to lower credit limits for people with decent FICO scores and perfect payment histories, I guess that is their perogative, but they could give you some notice and not just treat their best customers with such contempt.

I closed the card and plan to pay it off next week when I am back in town. I also plan to spend as much effort as I can spreading the word about their despicable business practices and the huge gap between what they claim to be ... some kind of high value / high service card for valued clients ... and what they actually are, a business run by computer models that treats their customers with total contempt and disrespect and doesn't care *one iota* how much aggravation and damage their policies cause to their "valued" customers.

The fact that I paid off $25K last week and can pay off the other $28K in a week once they pissed me off should speak for itself in terms of whether this was a valid decision in terms of my being a "risky" customer.

Idiots.