Amex drops credit limit on customer for shopping where poor people shop

I can believe this about A/E. I was a member for 30 years and last year a business card bill was lost in the mail. After many attempts to have a copy sent to me, I could not get them to send me a copy. I also requested several times to speak to a supervisor during this process and was refused each time. I finally paid the bill in disgust but A/E canceled my personal card, which has never had a payment problem, and refused to honor my reward points which totaled more than 270,000.
After all the problems I had with them, they sent me a request to sign up for a new card! I would nev er use an A/E card again!

Reply

That's what happens when you shop @ Planet of the Apes :) lol

Reply

all these credit card companies are getting stupid. i quit all of mine and will never have another. i think the whole country should do the same and teach our government a lesson in screwing the little guy. thats right teach our government a lesson. they allow the cc people to screw us and the new laws they have passed are no better than the old ones. time for a huge change in our congress, all incumbants need to go. too much greed and fat cats sitting on their asses doing nothing for the country. most of their daddys must be thinking what a waste of sperm i spent on them,

Reply

Shortly after reading an article regarding the incident of Kevin Johnson and American Express. I received an AME card in the mail. So, I called them to advise that I would not be activating my card due to their recent policy credit card practices in manging risk by penalizing customers based on where they shop. I was transferred to a supervisor who stated repeatedly that it was not true. She said without a doubt that article is NOT TRUE that the company does not practice lowering credit limits based on where purchases are made. She encouraged me to take the card based on our conversation and stated as a "Representative of American Express" that it is not their policy to reduce credit limit based on use of card with certain merchants. I'm not convinced and my call back to deny acceptance of credit.

Reply

At least the person got a letter. AmEx has been lowering people's credit limits without saying so much as 'boo'. Either the customer finds out when they happen to notice on their bill (just a new limit amount - no 'by the way, your new credit limit is') or when they try to use their card to buy something.

I agree with WDMURPHY that everyone should just pay off their careds and never use them again. This economic mess has been hard, but if it gets everyone back to a mode of saving before they buy, a good thing will have happened.

And the credit card companies can go to hell.

Reply

l recieved the boardwalk stamp from one of my vists to McDonald's and l think my grand daugther ate the stamp.the only proof l have of possesing the stamp is when put the code in the online game. l know they have rules,but, in a year like this where is the McDonald's christmas spirit. I know they can verify my entry. l wrote to them severals times with no response. then l spoke to a service representitive and she said there's nothing can be done. the code on all the stamp are different and this year you had to enter them on line. and if i didn't had to do that, l wouldn't have proof. l problely wouldn't have lay the stamps around since it didn't win anything when the code was entered on the online game. Could that hve been one of the strategy of Mcdonald's to not pay the big prize, i hope not. can i get some feedback from you and other blogers. merrychristmas and happy newyears to all!! p.s. l don't know how to put in a blog,so l use this channel and i apologize.

Reply

My girlfriend had an AMX with only a $1,000 max on it which she maxed out every month and then paid it off at the end of that month. She had just paid it off 2 days before the due date and went to the store the next day only to find it had been canceled. When she called to find out why they said that she was an "At risk client". They said that her credit history made her "AT RISK". There was nothing new on her credit history. And by them canceling her her credit history dropped from 680 to 520. And all the miles she had acquired, well after many phone calls she found out that Delta would still honer them even tho AMX said they where all gone.

Reply

Bank of America Bailout Mystery?


Check out FL Times Union editorial cartoon (12/24/08)
Well, I just got the results of the use of my part of the infamous bank bailout money. Thank you congress. I received a gracious letter from the Bank of America informing me that they will be more than doubling my finance charges beginning in February 2009 from 12.99% to 27.99% for my BUSINESS VISA card. I have been in business since February 1992 and a Bank of America VISA card holder since November 1993 with a high credit limit of $25,000 which I am nowhere near. They were, of course, very happy to give me an low rate for transfer balance’s just a few month’s ago. I have paid what has been required and I have had no differences in purchasing, and given no real reason by Bob (BofA rep). Of, course Bob could not do anything and does not make these decisions. If I got this notice I am sure many more will. I have never made it a habit of not paying my bills, but this is ridiculous. I am going to protest these greedy b*****’s with the only thing they understand. Maybe a few million would like to join me and get YOUR money back.
MERRY CHRISTMAS ALL!!

Reply

Bank of America Bailout Mystery?


Check out FL Times Union editorial cartoon (12/24/08)


Well, I just got the results of the use of my part of the infamous bank bailout money. Thank you congress. I received a gracious letter from the Bank of America informing me that they will be more than doubling my finance charges beginning in February 2009 from 12.99% to 27.99% for my BUSINESS VISA card. I have been in business since February 1992 and a Bank of America VISA card holder since November 1993 with a high credit limit of $25,000 which I am nowhere near. They were, of course, very happy to give me an low rate for transfer balance’s just a few month’s ago. I have paid what has been required and I have had no differences in purchasing, and given no real reason by Bob (BofA rep). Of, course Bob could not do anything and does not make these decisions. If I got this notice I am sure many more will. I have never made it a habit of not paying my bills, but this is ridiculous. I am going to protest these greedy b*****’s with the only thing they understand. Maybe a few million would like to join me and get YOUR money back.

MERRY CHRISTMAS ALL!!

Reply

Just like Suze Orman has been telling you . . . get out of credit card debt, don't rely on credit cards to finance your life style. Now I'm telling you: the credit card companies ARE NOT YOUR FRIENDS!

Most of us have had to learn the hard way. I always paid my bills on time over a period of many years, but when I sold my business AMEX billed me for half of the business credit line even though the corporation was sold. The new owners were billed 1/2 and I was billed 1/2. I didn't pay but they wrecked my credit.

Fortunately it didn't matter. I still use a credit card (one) and never pay interest or any fees because I pay it off every month. The merchants are paying with fees they pay to support my use of a credit.card and I guess it is worth it to them. They bury the charge in the amount they charge for goods and services.

In the meantime, I keep thinking of the Old Testament. I'm waiting for the angels to make mince meat of AMEX.

Reply

Heard variations on this story before. Agree with others: to hell with the credit card companies. Debt is indentured servitude. Pay it off, cut up your cards, use cash. Buy US-made goods from local merchants with cash. Mad at Wall Street, the banks, the credit card companies? Stop feeding the beast.

Reply

"According to the Atlanta Journal-Constitution, Johnson received a letter from American Express explaining that his limit had been dropped because other customers that shopped where he chose to shop have a poor history of paying their credit card debt to AMEX."

I guess he must have been shopping in the United States of America. He should have been shopping in Dubai. :-)

Reply

Don't let any of this get to you. Do what I did, and learn to trade the Forex. You can get a free $100,000 demo trading account at http://forex-currencyexchange.com Click the link in the top left corner if I remember right. It will take you to a sign up page where all you have to do is give your name and email. You can then start practicing trading. Trading with virtual money is so much fun... and addicting. The only problem is, more often than not, you will be wishing you were trading with real money. You never know, this may be something that you have a knack for. I believe trading currencies is much better than gambling with the stock market these days anyway.

Reply

I have mostly credit cards from several credit unions. I got nice high limits, low interest rates & most CU's are very honest. One has a decent rewards program. 5% cash back on fuel, 2% back on groceries & 1.25% on everything else. Only 1% foreign transaction fee. (after 1.25% back, I get 0.25% back--not bad!). Rebates are deducted off the next month's charges.

No AMEX for me. I only have the airline credit cards for the bonuses. My long term biz is with the credit unions. They gave me loans years ago (early/mid 80's) when banks wouldn't touch me due to young credit history, however, perfect pay history.

Reply

Amex dropped my credit line for no good reason! Immediately I went to my favorite credit card search engine (i.e. http://www.CardHub.com ) and got a new credit card from Bank of America. Capital One seems to have good offers as well but I had a poor customer experience with them in the past.

Reply

Yep, I know how Mr. Johnson feels, I have an AMEX card, very seldom used, and when I did I paid balance in full. Then one month I had use more than often because of emergency, and after charging, they notified me by mail, they have reduced my limit. So I have cut it up and thrown it away. Another company to watch out for is Washingtong Mutual, Never used that much, then I made a major purchased, and the next month recieve a letter staying they had lower my limit.

My wife has her own AMEX, only used it once in a one year period, Paid the balance, and not its no longer a No Limit Account, the new limit is just enough to buy a tank of gas...

So yes the credit card companies are really screwing th consumer who pays their monthly statement on time and manages the account correctly.. And while they are screwing with your credit limits, the are destroying your chances of any new purchase or home purchases..

Reply

All credit cards and companies are the same. @!.? Amx all others.Remember the Golden rule. The one who has the gold makes the the rules.Stop me if you can, you can't so dont try.
we the credit companies, banks ect. Have got you.You need us,you can't get or rent a car without me, buy on the net without me, air line tickets. We the are the credit, even if you pay each 30 days.We will do what ever we want, up your balance lower the limits, charge big fee's.Now if you dont pay we wil take you to court.The fed's can't stop us , you think you can?...HA_HA.

Reply