American Express review: cancelled card with no notice 28

OMG, these folks are insane! A few months ago, I tried getting a credit limit increase twice and they declined me, claiming: My balances to limit were too high, I have recent delinquencies, too many inquiries, and something else. Hello, all my balances are either $0, or less than 9% of my limit...nothing is, nor has ever been maxed out. Secondly, I do not have any recent delinquencies, collections, or anything of the sort. Alas, I think at the time EX had maybe four or five inquiries?

Anyhow, last night, I went to use my card, and it was declined. I figured it was a technical erorr, so, I went online to see my account was cancelled. When I called a spoke with a lady today, she told me it's because of a recent delinquency on my credit file and that the decision was not reversable. When I told her about how full of it they are because I monitor my credit report on a daily basis, she told me it's something that just popped up. So, I refreshed all three credit files while she was on the phone...still, nothing. Additionally, I'm building a new home and my loan officer just pulled my credit file & gave it to me yesterday...nothing of the sort!

Regardless, the woman stood her ground and told me not only is the decision not reversible, but, that I'd lose all my Skymiles points, which was the only reason I used the card in the first place. Very shady and unethical business...I'll looking for someone interested in filing a class action lawsuit!

They did the same thing to me. My credit score has risen 45 points in the last six months. I haven't been late on their card. My balance is ZERO. I was just approved for a 300, 000 mortgage refinance. They are idiots. They are alienating customers. I will never do business with them again. And to just get double screwed by them they are using tapr money which is coming out of my pocket.

My Daughter had an AMEX Sky Miles Card as well. She has always paid it as scheduled. Paid it off this month completely and three days later they cancelled the card without notice. She just paid the yearly fee and they refused to refund this as well. She was almost in tears over this incident for nothing she did wrong. All her points are gone she was saving up for years for her and her Grandmother to take a trip this summer. AMEX is nothing more than a bunch of greedy lenders who are no better than loan sharks. She will never do business with them again, no matter how much money she makes in the future as a doctor. She will stick with her credit union who seems to be much more financially stable then this company. If there is a class action lawsuit, please count her in.

AMEX Sucks

I have been Faithful Customer of AMEX Jet Blue for 3 years
Never had a late payment, paid most of them in full.
I had over $100 worth of reward point ready to claim
but they are no longer available because AMEX closed my account
without any notice. I called the customer service, and they didn't give me any reasonable explanation and said they could do nothing about it. I asked for supervisor, same thing. Never ever rely on AMEX...

They just cancelled me...No changes to my credit report...and this after we just gave them more than 3 Billion Dollars...Something very fishy is going on...I sent an email to My Congressman, Senator, and NBC News...I want them to get our tax dollars back!

I hate AMEX! It took me seven years to clean up my credit so that I could qualify for decent credit cards and loans. My credit has been excellent for 8 years. Amex sent me an application for a green charge card. I was so excited that I had finally built up my credit that I could get the "prestigious" Amex card. The customer service rep even told me that I was of a "select few" because the charge card was harder to obtain than a normal credit card.
WHAT A CROCK OF CRAP!
I have been paying faithfully every month just like my contract states. But, this month (February), they keep calling to tell me that my credit line has been interrupted and they need to verify information. I thought maybe the convention trip for my Company that cost me 1, 000.00 I charged to my card was the reason they called. Maybe they were protecting me thinking it may be a fraudulent charge. Boy was I wrong!
The lady from customer service today told me "thank you for your payment that I show you made online today and the account is at a zero balance." So, we are good to go then right? Wrong. My service hasn't been "interrupted". She told me that as of Friday, February 13th, they have gone ahead and closed my accounts because of some information they received from experien. I have delinquencies on my credit and my balances are too high therefore they decided to close both of my accounts. Without my knowledge. And kept all my points I had accumulated. I told her thank you, have a nice day, and make sure you note on my account that I will never do business with your God Damn Company Again!
I just pulled my credit last week for an SBA Loan I'm applying for and it's flawless. What a bunch of crap! I remember when you were privileged to get an Amex Card. Now they are worse than anyone. I'll stick to Household Bank. They have been wonderful to me and they don't treat people like this!
Amex should just close its doors - they are worthless.

My husband and I went to dinner and we decided to use our AMEX so we can earn cash rewards. Embarrassingly enough our card was declined! No big deal, it was probably a technical issue, since we just paid off our balance a couple of weeks before. When I called AMEX they said that my account was cancelled! How convenient and we were furious! They said that my Experian summary showed that I had high balances which are truly false! We paid off several accounts months before and our balances were less than 40%! We have been very loyal and always paid on time. I can't believe they cancelled our account without ANY notice. We will never do business with American express again. Chase/Washington Mutual is what we will stick to.

I am a lawyer in Washington DC who wants to sue AMex for these practices. Anyone who wants to be a Class rep, please contact me asap.

Thomas C. Willcox
tcw19 at columbia.edu

AMEX cancelled my card without notice also saying it wasa due to high debt. I have only two cards, well I only have one card now since AMEX closed my account. I have never been late paying either account and my outstanding balance never exceeded $200.00 on either card. AMEX told me they could not do anything but I could reapply for a new card. I told the rep that I would never do business with AMEX again and would tell everyone I know not to do business with AMEX.

OMG! Same exact thing. We charged and paid on time 36, 000.oo in 2008. In Feb. my husband overpaid and we ended up with a credit balance. Tried to use my card today and it was declined. I went online and could not find a "credit available" balance so I called customer service. Same load of crap. Used the credit report stuff but the only thing on my credit is in good standing. Been a customer of Amex since 2000 and had a 16000.00 credit limit and never a late payment. Now...they've taken my rewards points too. Is that legal?

Same here, actually I have had 3 disputes with American Express that they refused to help me settle, along with closing all 4 of my accounts. I still have not paid the unresolved amount and I did pay off the balance of my card (which was the down payment on my car!), all but the disputed amount. Now I am getting everyone and their brother calling me. I am on my 3rd collection agency and my 3rd cease and desist letter. I have also recently discovered that American Express does have a neutral arbitrator, but that was NEVER offered to me as a resolution. I HATE AMERICAN EXPRESS AND HOPE THEY SINK. Does anyone know of a class action lawsuit that is filed against American Express because I would certainly love to join.

Same exact thing here. I just went to my mailbox and got a letter from American Express stating that my card has been canceled. It gave some reasons such as "serious delinquencies" and other issues with my credit report. Worried that I my identity might have been stolen, I immediately downloaded my latest credit report. There are definitely NO delinquencies and I am in excellent standings with all my creditors. My credit score is fine and have no late payments reported on my credit report. I just tried calling customer support and they wanted nothing to do with me. When asked to speak to a manger, I was just put on hold... forever. Amazing how horrible American Express treats good customers. I hever had a late payment and always paid in full. Now they are canceling my account. What the heck?

I also am interested in joining a class action lawsuit if it has been filed. Please email me at vigilj5 (at) yahoo (dot) com if anybody has any information.

I paid all my credit cards off back in Feb, and today I used my amx, and after using it once i attempted to use it again, and I was notified by the cashier that my card was not working. So I called amx & they informed me my card was cancelled. I asked them why & they informed me because my debt to ratio, so I informed them this could not be true, all my debt is paid off. So to make a long story short they informed me that back in Feb they requested a copy of my credit report and it showed that my debt to ratio was not good enough for amx. I informed the amx customer svc rep that there must be a mistake. I will never do business with them again, how embarassing to use a card & be informed your card is not valid.

I am glad to see that I am not the only one... Just found out today that my Costco Amex was cancelled. It is very disapointing. My story is... I had stopped using credit over ten years ago, due to my irresponsible actions in my young adulthodd (18-20 yrs). Up until a few years ago, mine and my husband's debt consisted of 1 modestly priced house and 2 cars, with an income in the top 5%. It was when we tried to buy a 2nd house a few years, we realized we needed to get credit cards to build our credit. So for the last four years, we have worked very hard to clean up, build and maintain our credit. About six month ago I received a Costco AMEX card. I was very excited to receive a card with a modest credit limit of $2000, finally we have an acceptable credit score. I used the card everyday to maximize my Costco dollar reward, paid the account in full almost every month. A few months ago, AMEX lowered the limit to my balance, $1, 800. I accepted it, due to the current financial situation. In Dec, I reviewed my Costco reward balance, very excited and appreciative to have earned $255, I decided to carry the balance and pay the minimum so AMEX can collect some interest. At the end of March, I paid off the entire balance and found the account had been cancelled for the same reasons listed in the previous comments. I bet if I have paid the minimum, my account would still be opened. Very disappointing. I do not think I would use AMEX again, unless they did something impressive for me! -unfqt@yahoo.com

I am so glad I came across this board. Yesterday I received a letter in the mail saying my AMEX costco account had been cancelled.
They gave me the same bogus reasons in the letter - serious delinquency, high debt ration, etc etc - none of which is true.
I am especially angry about this because i had JUST paid this card off within the past 3 weeks.
Originally I was given a $6000 credit limit on this card. Then about 6 mo ago they dropped the credit line to $3500. I was ok with this
because of the bad economy. However, i paid off my 3000 balance and within 3 weeks they cancel my account?
How ridiculous. I had AMEX and will not be using them again.
I am also worried i will not be able to use my Costco Rewards certificate since they cancelled the card.

Just today I called to make sure AMEX had received my payoff checks(I paid off all my balances), I had three accounts with them for over 6 years. They transfered me to a customer service Rep. who informed me that all my accounts had been closed due too my credit status. I pulled my experian report today and my soce is 738. I am just pissed! I am sure when things get better they will be trying to get our business back and thats not happening!

I would reccmond that people who had their partner cards such as Jet Blue, Costco and Delta exct canceled thru no fault of their own... contact thoes busienss to inform them that their name may be tarnished by the foul practices of AMEX and they should switch their partnership to another credit card company.

I just got off the phone with AE. They cancelled my card without notifying me in advance. Of course that's so we don't go spending more money I suppose. And then I ask why, they tell me because of past delinquencies, and Experion. I too had just paid off the card. I believe this must be the norm for them. We all seem to have similar stories that we just paid off the card, and suddenly they take it away from us without our knowledge, charge the annual fee, and then have the same reason as to why it happened. Oh and we can reapply in the future should our credit improve. So it doesn't matter how we do with them, only how we do with others. I'm sure the economy has affected this. I found a class action lawsuit at the credit card forum here http://creditcardforum.com/american-express/498-investor-class-action-lawsuit-against-american-express-actual-court-filing.html

All this sounds to familiar. About 2 days ago I tried to use my Costco AMEX to pay for some airline tickets. The card came back declined so I checked my online account and realized my account was cancelled. I called customer service and argued with them that I have always paid my payments on time and have never been late. They told me my "debt was too high" and that they could not do anything about it. Furthermore, they lied to me saying that the credit bureaus told them "you have too much debt". I pulled up my report and saw that all they told me was a lie. My credit is excellent and I have no bad records. This is very disappointing and I will most certainly never use a AMEX card again. I do wonder though, since my card was cancelled, will that affect my credit?

I was an AMEX card holder for 4 months when they canceled me (right as my rewards and interest promos were maturing) ... $20 in interest and $100 in lost rewards before I could get my balance transferred.

If you are a Costco member and have an AMEX issue:

Call Costco corporate member services at
[protected] (have your Costco Member # handy) ... press 0 and an CSR will be with you.
and/or visit https://costco.egain.net/system/web/custom/initialPage.html

I just had a great conversation! Professed my love of Costco, told them I hope they would look at their relationship with AMEX, referred them to this blog, and made sure they put on this ticket my phone number to contact me for more information.

Any wonder why Costco is so highly rated by customers and employees and AMEX is not? Shouldn't be ... service is king!

http://twitter.com/CreditMatters
http://www.creditmattersblog.com/
Also good resources ... my AMEX cards are shredded and I will continue rewarding my Fidelity Visa :P

Hi, I started a cause on Facebook called "Boycott American Express". Feel free to join and spread the word:

http://apps.facebook.com/causes/289806

Same thing happened to me paid early - paid over what was owed and they cancelled me telling me Experian showed late payment. Had just gotten my 3 credit bureau reports and nothing was late. They kept about 100, 000 in points by doing this. Will not use them again. Only got them for convenience of Costco.. but my debit card works just fine.

I agree i have been with amex since 03 Never been late I have 2 Amexcards They have beem decreasing my limits so i decided to pay off both my cards and they cancelled my cards the next day I called and asked for my membership fee to be removed and they told me tough they jut renewed both my cards 3 day before my cancelling so i stopped payment GOOD LUCK AMEX UNTIL YOU CREDIT MY ACCOUNT I WILL NOT PAY YOU
fOR ALL OTHER LEAVE HOME WITHOUT IT

What do i say that has not been said in the previos testomonials. Had a 11, 000 ballance on my card, never missed a payment or late. The DAY AFTER i pay the balance to 0.00 they turn around and cancel my card.
They cited the same excuses as many that i have read in the above listed complaints about my debt to credit ratio, too many inquiries, length of time accounts have been established, ect. Was a AMEX customer from 2006 and had no credit changes.
Attempted to call their 'customer service', that was a joke. I got absolutly no help at all. They even had the gall to tell me that i can re-apply for a card with them, and if i get approved they would not remove the cancelation from my credit report.
I will NEVER use AMEX again. Was the worst 'customer service' that i have had in a long time.
I totaly agree, that the moment that reoccuring finance charge was gone, so was them keeping me as a customer.
For those of you who use it for Costco, I just spoke to a customer service rep. there, and unfortunely, Costco has a contract with AMEX untill 2014, but however they said they have been getting alot of complaints about AMEX.

August 9, 2009

To: Chief Executive Officer Kenneth Chenault, American Express
Executive Offices 
American Express Company 

200 Vesey Street

New York, New York 10285

[protected]

From: Dr. Curtis J. Ohl American Express member since 2002
Gold Business Account
Platinum Account

RE: This is a letter seeking redress of our $40, 000 credit limit reduced to $6, 000. Please read our letter and we await your timely response.

Time to leave home without American Express!

As long time customers of American Express let us share our frustration and disappointment in the way this company has been treating us and indeed many card members during this past year. Our cascading grief is over American Express reduction of our credit limits, and raising credit card interest rates. American Express is reacting to the financial crisis out of fear. The financial damage to American Express will be long lasting and far-reaching.

Let us give you a little history as to what type of customers we have been. Our payments are always on time to all our creditors. Our story is like so many other card members. We have two open accounts with American Express. We have been members for seven years, perfect credit with long established payment history, FICO scores over 800 but only Amex has tampered with our credit limits. Only Amex has seen this pressing need to reduce our credit limits. We called Costco and took off the auto renewal for Amex, we no longer want American Express to continue any further unilateral credit damage to our pristine credit portfolio. American Express can no longer be trusted with our credit. We have stayed the course but American Express has run into the economic ditch!

We have called several times, talked to numerous staff, those who survived, faxed our request with supporting documentation and now we are writing to you for redress. In the past it was a punishment to raise interest rates for those who could not pay their debt on time. Is this our reward for being loyal card members with established credit histories, to raise our interest rates for paying our debt on time? We suggest, just as American Express looks ever so closely at our credit worthiness, we look to the executive board and CEO for leadership worthiness!

These actions take us back to a time where perhaps Pony Express might be a better company name. American Express is in total freefall. American Express is failing to provide customer service with a total disregard for ethics and indifference to the many card members. It seems we are going back in time with Pony American Express. 


We just recently read of American Express filing a lawsuit against the infamous Courtney Love. Legal papers showed the rocker owes $352, 059.67 in unpaid charges and fees on her Amex Gold Card – which has since been suspended by the company.

So let us understand, American Express trusted a well-known drug addict, notorious for her litigation in not paying bills and American Express extended credit on a gold card for $350, 000 but Amex cannot restore our previous credit limit of $40, 000? We pay all our bills on time, never been late on any of our payments and we are not drug addicts, in fact we do not even use drugs, not even the good kind!

American Express will never need to file litigation against us but we know so many who want to file a class action lawsuit against American Express.

We jumped through the languishing morass of the many hoops of fire and sent in our full credit report, tax returns and listed assets along with an overall financial statement.
We are writing to inform you that, after reviewing your letter of August 2009 denying us our credit increase, with obfuscated contrived reasons we will not accept this treatment from American Express.
We are financially solid and have not changed, we are not sure the same can be said of the financial hemorrhaging of American Express that will hold another round of layoffs, after cutting 7, 000 jobs in October 2008, decimating its work force along with frozen salaries and good luck with that Courtney Love lawsuit. It was sadly, no surprise, when we read your computer-generated letter of indifference. The famous words of Thomas Jefferson rang so true “Banking establishments are more dangerous than standing armies.”
In July of 2009, American Express itself stated second-quarter net income came in at $337 million, down 48% from 2008 when the company made $653 million. This net income attributable to common shareholders was only 9 cents a share, down from 56 cents a share in the year-ago quarter, according to the company.
At the same time net write-offs for the company were 10% of total loans in American Express's U.S. card-services business in the second quarter. Loans that were at least 30 days delinquent represented 4.4% of total loans in the latest period, up from 3.3% a year earlier. We do read the Wall Street Journal.
Yet with all this bad news, there was one bright spot as stated by the financial leader of American Express, Chief Executive Kenneth Chenault:
“The number of card members who are falling behind in their payments, the volume of bankruptcy filings and the level of loan write-offs were better than we had expected.”
“If these trends continue, we expect U.S. lending write-off rates on a managed basis to be below 10% for the second half of the year, which is lower than the outlook we offered earlier this year, ” Mr. Chenault added.
Yet American Express continues to punish us, the good card members, why? Is it out of fear that we might increase the financial bloodletting? I do not think you need our help for that! May I suggest a bold new direction, take care of the customer first and the bottom line will follow!
American Express appears, as a company, to be in poor financial shape, and undercapitalized. Since we take our financial life seriously, we cannot be associated with a financial company that manages to loose so many employees, assets and runs its own affairs so poorly.
We are not proud of our American Express relationship, are you proud of your leadership? In addition, American Express has too many bad reviews within the consumer community, and your overall rating on every consumer site, is a very poor rating.
I looked, in vain, for a POSITIVE review of your company from any person or news source, and could not find even one except for the mysterious award from JD Powers. Even JD Powers would not return my calls when I asked them to define further what criteria they used to base American Express only award of “good customer service.”
This recession will not last forever. When it is over, and people choose the few credit cards they are willing to use, there will be fewer companies and cards to choose from. The ones who will survive are the ones who realize that the only thing that keeps a credit card company afloat are customers who accept a card, use it, and pay their bills. The companies who will be in business then are the ones who take care of that good group of people today. You are clearly NOT taking care of your good customers today, so I don’t expect you to be in business then.

American Express has raised our interest rates on not only new purchases but on all existing balances. In fact when Congress passed the Credit Card Reform Act, this is exactly what they wanted to prevent Credit Card Companies from doing.

We also found this very interesting from Financial News USA. WASHINGTON (AP) -- American Express Co. spent $710, 000 lobbying the federal government in the second quarter on legislation touching on an array of financial issues, a recent disclosure report shows. The article continues with American Express lobbied lawmakers on legislation related to credit card fees and practices, data security and consumer privacy.

American Express also lobbied in the April-June period on consumer bankruptcy, advertising and taxes.
 Beside Congress, the company lobbied the Federal Reserve, Treasury Department, Office of Thrift Supervision, Office of the Comptroller of the Currency, Internal Revenue Service and Executive Office of the President, according to the report filed July 20 with the House clerk's office.
The $710, 000 spent by American Express in the second quarter compares with $830, 000 in the first quarter, and nearly $1.1 million in the year-ago period. We were amazed to find American Express on the fast track to being granted banking status in just a 30 day period. This usually takes much longer. Of course with this banking status, the company gained over 3 billion in TARP funds.
It was not so nice for American Express to get credit but deny the card members credit.
Our final question, was the $710, 000 well spent for the persuasion of influence in Washington DC? While your company is loosing funding, market share, customers, bad debt write offs, against a backdrop of massive company layoffs and your increasing salary of over 42 million with a base salary, cash bonus, stock and other options was it all worth it? Just curious!
So Mr. Kenneth Chenault can you redress this issue with our credit limit or do we need to hold American Express accountable in the court of public opinion? The choice is yours.

Waiting your reply,

Curtis

I'm in the same boat. Had my card nearly paid off, and found out it was canceled when I tried to use it on vacation just this past weekend. It worked that afternoon, but by evening it no longer worked. I called AMEX, and was told my account was canceled because I had too much debt. Bad thing is, I actually have less debt now than when they approved me for the card! No new bad marks on my credit report (I check it regularly), and I have always been in good standing with AMEX (payments often make immediately upon receiving bill, and most of the time 3 times or more than the minimum payment). This was very frustrating to have this happen when I expected to be able to use my card on my vacation. Like someone else posted here, I suspect part of the reason was that my rewards would have matured after this trip (I planned on using the card to get my few remaining points needed for my free airline tickets). This is the first thing that came to my husband's mind when I told him the card was canceled! I plan on telling everyone I know to stay clear of AMEX, and I know a lot of people. Many folks I know have their own businesses, so that is serious potential business AMEX can be losing because of word of mouth! American Express received $3.4 billion in bail out money, and they are turning away customers in good standing from who they are getting interest income? From the standpoint of a taxpayer who will have to pay back part of that $3.4 billion into the government, that makes me even more upset that my account being canceled without notice!

To add insult, my account was canceled on 9/27/2009. I returned from my vacation on 10/4/2009 and went through all of my mail and email. I still have yet to receive written notice of their decision and reason for their decision. You can bet that I will be writing them a nasty letter letting them know how unhappy I am and that I will be telling everyone I see to avoid AMEX like the plague!

I am glad to hear I am not the only one with problems with Amer Ex. I had a Gold card for many, many years, and was told that my account is no longer good.

Well now, not only will I have have nothing to do with American Express on a personal basis, I will no longer accept their cards at my business either.

Treat people like dirt, and you will get mud thrown back at you.

Hello Readers
My name is vanessa

wow! AMex did the same thing to me they canceled my account for no reason. I just got a new car for $40, 000 and I'm buying a house. They are so wrong . when I called to ask why they closed my account they gave me some BS story about my credit score going down which it did but only because I got a new car and not by much. Shouldn't that be a + not a - . I wish I would have done my home work before I applied for this card like I always do for everything else I buy or apply for. Now I have to worry about how this canceled card, first card ever to do this to me will impact my credit now. I will dispute it with my credit bureau when it does show up on my credit report. It was not my fault and they canceled for no good reason. FYI there was a peace in the wall street saying that AMEX was canceling peoples cards because they were using the AMEX cards in stores such as Target and wall-mart who said we cant it didn't say that in the contract when you apply for the card . Crazy they are discriminating. They want you to use the AMEX cards in blooming dales and A/X stores. Only high class stores. I also wish i would have read all you guys comments before i got the card.
* I WILL NEVER EVER RECOMMEND ANYONE TO GET A AMEX CARD ! AND IF YOU DO HAVE ONE SHRED IT NOW!
NOT NOW RIGHT NOW BEFORE THIS HAPPENS TO YOU!
Count me in for the class action lawsuit!