Amex May Reduce Your Limit Because of Other Customers

I too had my credit limit decreased but for other reasons. 3 to be exact:
(1)My credit score (why they were looking into my credit is beyond me since I’ve never been late with a payment.
(2)My balance on my American Express account “is too high relative to your credit limit.” I had plenty of credit until they lowered it.
(3)”Your present balance/spending levels have exceeded your demonstrated ability to pay.” This is the one that really ticks me off because they are basically claiming I won’t be able to pay my bill. Who are they to say I won’t pay my bill? I’ve never been late on any bill. I just printed a copy of my credit report and although I do have a lot of credit, all of them say “never late” next to them. I wonder if I can sue the credit card company for defamation of character…

Yep – Am Ex slashed my credit limit in half yesterday. Never late. Never missed a payment. Always pay more than minimum. Owed 48% of max until yesterday, now 96%. Should really help my credit score. Idiots.

Peggy, credit card companies sometimes look at your credit report and score to see if they can raise your interest rate or cut your credit limit. Or, when credit markets are better, to increase your credit limit and decrease your interest rate.

Karen, I know what you mean. They cut credit limit which raises your credit utilization. Then, when your credit score drops they increase your interest rate because your credit score is lower – they’re the ones who made it low!

The best solution by far-Don’t play their game! Don’t use them anymore. I had AMEX for 2 years, and it was more hassle than it was worth. You never knew if your card was going to work, so you had to carry a VISA or MC anyway…The embarassment when it DIDN’T work, only to get home, call them, and they’d say, “OK, try your charge again, there shouldn’t have been a problem…” Forget it, I gave up. Now I just use my VISA debit card. EVERYONE takes it, and there’s never been a problem.

I received my statement today. I have been a cardholder for 20 years, They slashed my credit over 3/4 of my limit. So much for that cruise this year. First told negative credit report, LIE!, next, always min payments, LIE, then, so on, and so on, you get the picture. If that is how they treat a cardhold who pays the bills, I would love to see how they treat someone who is late on a payment.

SLASHED! And I have a credit score of over 800! I got my email yesterday that my AMEX Blue, credit limit of 30,000 was being reduced to 6000. I ‘was’ a very loyal and happy customer. I have never had a late payment, etc etc. I use this credit card for my consulting business so I charge a lot of things for my clients. I need at least 20K per month. Anyway, after reading about this online on these blogs, I am finding comfort reading about others having the same problem. I have decided to go ahead and close my account. I am not even going to bother to waste my time and call for an explanation. I’m so glad I still have my Capital One. Bye bye AMEX.

Arrrg… I just had to vent too.
I have been a loyal AmEx customer for over 12 years… never late with a paymet and always paid more than the minimum… They cut my limit from $14,000 down to $2000 today (I have a balance of about $1500). WTF?! Now it looks like I’ve used 75% of my credit!

What annoys me is the letter they sent with the “reasons” for credit decrease… basicaly blaming me… my credit score is around 750 and I’ve never been late in 12 years…

Wow – It sux that my credit was slashed from 31K to 1K – never late, always paid above minimum and it looks like Amex is slashing everyone – I just get so angry whenever their Open for Business commericals are on tv – yea right! Did you guys noticed the rewards points value reduction? – Used to be 25000 points=$25 gift card, now, it’s 50000=$25! So, we are getting royally shafted here.

Totally bizarre, I had a Platinum AMEX ($450 annual fee) and a Amex Blue with a $50K credit limit but no balance. I got an email today that the $50K limit has been reduced to $1K and a $200 for the cash advance part!

I had a higher limit when I was a sophomore in college! I never use the blue card anyway so no big deal and actually glad to just cancel it now. But if they decline my usual purchases on my Platinum, I will cancel that too.

this happened to me too! i have a costco amex and I found out while pumping gas, and getting denied, that my limit was slashed from 4k to 800 without any notice…these guys are baboons! i have never been late! i just think they are mad that i get their cashback and never pay a dime of interest.

Wow, I’m not the only one. Came into work today and got an email that my line was slashed from 17K to 10K, and now instead of 7K available I have $200! Thanks guys, I try to keep a nice chunk of credit available and you just screwed me. Bastards!

Amex hit me too. A 780 credit scrore and never missed a payment, ever. Reduced my 31k limit to 10k / 200 cash. I have 9700 so my credit/debt ration is 97%. Should do wonders for my credot score. The reduced it on Nov 4th and sent the notice on the same day. No advance warning or nothing.

I just sent 5k to amex and will pay the rest of in January. Amex will be getting my card in little pieces with a thank you letter.

Good thing I still have some Chase Visa cards.

Same thing! Got letters from AMEX that because of my spending and payment habits (been a member since 1992 and never ever late on a payment!) they are cutting my limit to almost what I owe, which will show me at the max on my debt limit. AMEX no more! When my Platinum payment for $450 comes due, they can stick it. All the extras they claim they give, forget it!

Well, add me to this list…never been late, always paid more than the minimum, balance to limit ratio was about 50%…bad part is that canceling or switching to a different card doesnt make sense because my interest rate is 7.99%, and with other cards its 12%+. NOT HAPPY, ESPECIALLY RIGHT BEFORE CHRISTMAS!

Add me too. Just signed up with them over 750 ficos and they shut me down to $1500 this is way to low for my monthly business needs. Is there any way to rectify the situation?

I am furious with Amex. I have a Personal, Gold and Platinum card. Each had a credit limit imposed on them. I’ve been a member since 1987 and pay my bills on time.

As a reward for my loyalty, they imposed credit limits that had a negative impact on my FICO score. In the month following the implementation of the credit limit, my FICO score dropped from 672 ==> 581.

Yup, slashed my credit limit just recently because of “other customers” and because I was up for a review along with a million other people i was told..now they have me $400 over my credit limit until my next payment….scumbags!!

I just found out, when I called to notify them I will be out of the country for 10 days, that my AMEX Blue card limit has been change from $10,000 to $600. I have never made a late payment and always paid the entire balance off each month. My credit score on all 3 credit reports is 770+ and I have a business that nets me over $400,000 per year. I don’t get it.

$35,900 Platinum credit limit slashed to $9,400 overnight and notified on Thanksgiving morning – thanks AMEX!

Never a late payment, always pay more than the minimum, balance is paid off completely every 4 months (3 times per year).

Funny thing is I have two Platinum AMEX cards and just moved half of the credit limit from the 2nd to this account. 4 months later, they take it all away.

They have given every excuse in the book, but it’s clear that because of the amount of foreclosures in my Florida county they are screwing me. NEVER late on my mortgage and make almost

$200 k a year – it’s the pricks who were allowed to buy $300 k homes with $30 k jobs that are doing this to all of us. Get this, AMEX even looks at where you shop to determine credit limits. So don’t go to WalMart or Sears and use your cards or they’ll bend you over even further.

Right before a family vacation and the holidays – they are just unreal……

not only did they slash my limit on my gold card, but they demanded payment long before due on that and my other two accounts before allowing me to use it.

Happy Thanksgiving AMEX! I feel like the Indians did when we landed on Plymth Rock

I too have received the same B—S–t letter. I have never been late, paid more then the minimum and was lucky I did not use the card for care of my Cat who had to go to UC Davis for cancer surgery. I would hve been over my limit- their new limit. I believe we should file a class action. I usually do not believe in sueing but this is shameful just as they get Bank status and gov’t bailout money. They screw the customers. Where is our bailout? I am now at 90% instead of 50%0 use. Why do they get away with it?
Is there any group action going on?? please email if so. My son had the same letter re his account and Discover card slashed my limit from 7000 to 500! what gives?

Had my Platinum Amex dropped from $42,500 to $12,500. Dropped the Blue from $24,000 to $1,300.

My score is over 800, wife is high 700s. Never missed a payment on ANYTHING. We are both employed with good income.

Just insane. I chopped the cards up and paid off the Blue and will work to pay off the other one and leave Amex in the dust. Fark em.

I have about $12k in business expenses on that card, so now my debt to credit ratio for the card is almost 100%.

Same here. The only explanation is they are in a world of hurt. Short the stock and take your business elsewhere. I did.

I had the same experience just this morning after having received a letter in the mail the other day stating my “flexible payment” was suspended and that they want the balance paid in full.
Ironically, I have always paid the balance in full so why implement something so backwards.
The lady who called me this morning claimed that the “credit bureau” said my spending in the past 6 months was excessive and that this was an “unsecured loan” from AMEX…
I was very upset with them the way I felt harassed about my spending which is nothing out of the ordinary.
In fact, I have been known to charge in excess of 100K a year and they call me about 8K as if I won’t pay it back.
Yes, I told them I would be looking elsewhere and that I was disappointed since I pay the Platinum yearly charge only to get harassed by them.
I told the lady I didn’t mean to get upset with her but, at least, I wasn’t seeking Federal assistance…

I got an e-mail out of the blue that my credit had been cut to 1/3 of what it had been. I have never had a late payment, only had a balance of 1/3 of the credit limit, and have a credit score of 750!
It doesn’t make sense to me why they would want to get rid of customers who have proven themselves to be responsible!
I cancelled my card and will take my business elsewhere!

Please everyone when this is over DO NOT go back to AMEX they are ridiculous lets put them out of business!

Add me to the list. Credit line cut from 35K to 3K… Got the e-mail on Thanksgiving day…you know the day before black Friday. Was out of town. AMEX WAS the only card I carried, primarily for travel. 720+ Credit score, no late payments anywhere, same B.S. reason. I sent them the 2K that was on my line and canceled all three accounts. One Platinum, and 2 Business lines. I don’t care what they come up with, I’ll never do business with them again. Ever.

Like everyone else, I am in the same boat. My question is along the same line as Annies. What legal action can we as consumers take? There have to be some attorneys out there who have also been affected by this, or at least have heard about it. We can gripe and moan until we are blue(no pun intended) in the face, but the execs, and their families, at AMEX are going to enjoy their Christmas this year, without decreased credit limits! I have read blog after blog (creditaddict & fivecentnickel.com) about this situation and the same theme is common. We are not irresponsible people. We all have decent credit scores and have made our payments on time. This is what we have been asked to do, to not only gain an AMEX, but to maintain it as well. And THIS is how we are rewarded, lowered credit limits, and in some cases, increased interest rates, right before the Holiday season. I swear, I don’t know how these Exces sleep at night. Or even better, how the wives and husbands of these execs let them sleep at night knowing what their spouses companies are doing to hard working Americans. Of the many lessons that my mom taught me, one was to keep good credit. And fortunately, that advice stuck, which has allowed me to have two homes built from the ground up in less than 5 years, along with other benefits of having good credit. Now AMEX is basically saying, “screw what your mother said because we do not recognize your efforts to keep a good credit score and your ability to make payments on time. Your good credit is no different than someone with bad credit.” Man, if they are doing this to consumers like us, I can only imagine what they are doing to someone who has been late or has a low credit score.
In any event, there has to be some legal recourse out there. Someone PLEASE share them.

I’m in the same boat. I had a charge of $2,000 denied on my Platinum on the 23rd. When I called, they apologized profusely and approved the charge. I found out via email that an unused Blue credit line was reduced from $25k to $1k today (Merry Christmas). I’ve always paid in full, FICO is 790, the only odd thing is I charged about $20k in vet bills this month because of my dog’s cancer treatments. I’m going to payoff and close my accounts tomorrow. I’ve been a loyal customer spending around $10k a month on their card. I use most of the perks you get with the Platinum card, but screw them. I think I’ll do the Dave Ramsey thing and stick to cash.

I found out my limits were reduced by accident. I went to pay my bill online and my Amex Blue and Delta Gold were slashed to put me at 95% utilization. My score is 750. I was shocked. I called to ask why and was told my credit score was too low and the letter with “Reasons” went out same day. I am paying Amex Blue off this month and Delta Gold in January. I was shocked! Always paid on time, never late, always more then the minimum. Recieved the letter about two weeks later stating my payments were not enough to satisy my debt obligations. WHAT??? Loyal member since 2002. Good bye Amex!

18000 limit payed off to zero balance in October now around 1500 got a letter today telling me my limit is cut to 3900 because they are trying to protect me from going to far into debt. ?? Isn’t that what the want me to do? Perfect credit history high 700’s score what gives? I think i’ll cancel the the card, probably what they want me to do any way.

I’m appalled and believe it’s nothing less than an injustice this is permitted with consumers who are taking care of their business. Reading thru story after story, I kept wondering how are they targeting people. Several claim credit scores at or above 750 and everyone’s paying on time. Of course there are other things to consider but if 750 isn’t enough, what is?

I too would like to know what, if any, recourse is available. I have not received a letter yet. Mine could be in the next wave or my next statement. Now I won’t be surprised.

It seems quite a few folks are retaliating by promptly closing their accounts. Without carefully considering the impact, I’m not sure I would make the same move. A hasty decision would be an emotional one that could have consequences, like lowering my credit score even more. Without a doubt, I would change the way I do business with AMEX.

I’d pay it off asap. Once paid, I’d stick my card in a drawer. I’ve had my card for 14 yrs. That’s too much history (unblemished like a lot of others) to close the account. If I had the account less than a couple of years, I may think differently. Closing the account takes away that much more from my total avail credit and could skyrocket my credit usage hurting even more. I’d keep the account open, use it for a small purchase every 4-6 months to keep the account active and promptly pay the balance in full when the bill arrives and never carry a balance with them again so my new deflated credit limit matters not. I may not be able to avoid the initial hit to my credit score but I can avoid making it worse.

Wouldn’t it be nice if someone from AMEX could add some clarity? How is offending your better customers deemed a wise move for business? How many AMEX employees are adversely affected?

Ladies and gentlemen, reading your comments leads one to believe that EVERY single person out there that had their credit limit slashed by Amex had 1) near perfect credit, 2) paid their Amex bill on time for decades, and 3)managed to responsibly spend, say, maybe $1,000 each month though they had a $30,000 Amex limit.

Now call me a skeptic, but omething tells me, this can’t all be true for all you, now can it? LOL

They cut mine 88%. Never late always paid ontime. After the cut I am now over the limit, but they say they will not penalize more for over the limit fees. I’m sure that will look good on my credit report….. I’m gonna cancel my card.

Add me to the list!! I have a 777 credit score, and have been paying them $100 a week for months – balance was $500, using the card regularly, $20,000 total credit line. They slashed me to $1400 for “too many credit inquirey’s” – What does that have to do with anything? When they go bankrupt after conducting themselves in this reckless manner, guess who will have to bail them out? Us!!! idiots.

Went from 30K to 20K in October and 20K to 10K today. Like others, no late pays, and well under limit when (until) cut. Just paid card off two minutes ago and searched for “amex cut my credit” found this site. I will tell Amex that I have changed to a more trustworthy credit card company when they call – and I am sure they will.

Found out about an hour ago! I have a 772 credit score, never been late, been with AMEX since 03, had a $35,000.00 limit reduced to $393!!! Are you serious? How is this evan legal? How is there something that doesn’t protect the consumer, and the best part yet, when I called to speak with a supervisor (Camile employee # 197855) told me that she was the above all be all account manager if I wanted to speak to a supervisor, I had to write a letter, there was no one I could speak with!!! Nice job AMEX, I will close both my wife’s and I’s accounts with them immediately!!!

Add me to the list. I’m a small business owner who’s been a customer for 13 years, never late, so proud of my excellent credit. In October Am Ex reduced my Costco credit limit $16k (which put me within $1k of my limit and lowered my credit score, then reduced my Blue Cash for Business from $20k to $1k, which further lowered my credit score. They did this shortly after Wells Fargo froze my HELOC…even though I still have plenty of equity in my home…which lowered my credit score yet some more! Now I’m trying to refinance my house to get out of 5 year ARM that’s about to reset and probably won’t qualify for a mortgage with my now “lower” credit score. And the government wonders why there are so many foreclosures?? How does it figure that Am Ex gets my taxpayer $$ to bail their sorry hind-ends out and then turns around and sticks it to me again? Our banking system is fundamentally wrong in so many ways. I have renewed vigor to send Am Ex a love letter with a big fat check to pay off & close my accounts. Strictly for therapeutic purposes, I think I’ll print out comments from every website I can find where people have experienced the same thing as I have and attach them to my letter. After all, they should see in black and white why they their customer base has plummeted along with their revenue. It will be so worth the postage…

Add me to the list as well. This morning at about 10am I got three emails from Amex, stating that they have lowered the credit limit on all 3 credit cards that I have with them. I have been with them since 2000. Immediately after I tried going to their website to see what my limit was (never kept track of it because I never charged up that high) and their site was hosed!!! for hours. I am assuming numerous other people got the same notification. The emails state that I will receive a letter giving me additional details as to why. So far my Amex Costco limit was lowered from $14300 to $2000, Blue from $17400 to $100 and Starwood from $13500 to $9900 and that’s only because my balance on it is at $9500 due to recent business trip expenses which get reimbursed on a monthly basis. This is crazy, now the only thing I am thinking about is how this is going to affect my credit score?! Since I have now instantaneously “maxed” out the limits on all three cards. This is crazy!

The green, gold and platinum cards are charge cards, not credit cards. By their nature, they don’t have a preset spending limit since they require that you pay off the balance every month (unless you have the discretionary ‘pay-over-time’ feature). The others (the various blue card and the partner cards like Costco) are true credit cards, with limits set according to your credit profile (score, activity, behavior etc).

It sounds like some of you are saying that Amex is imposing a monthly limit on charge cards? If you’re paying it off each month, that seems pretty inexplicable, especially for platinum cards, which are supposedly only issued to people with excellent credit and payment history.

As for the credit cards, it kinda sounds like Amex is regretting ever getting into the credit card business. Sucks if you’re caught in the fallout though.

Charge cards vs credit cards:
http://www.amexcardadvisor.com/online-credit-card/

Throw me int the Mix, Member since 1989 with an Optima Card, Credit limit a few months ago was $17,000 then out of nowhere the dropped it to $3,4000 I had a balance of alittle over $2,000 so I paid it off last month balance $0.00 now im getting married and started to use the card for tux renta, mine the best man, ring bearer a few misc items Total $1,245
the now e-mailed me stating that my credit had been dropped to $1,400 what is wrong with these people I now have a it almost maxed out intsted of nearly 50% can something be done since this is affecting all our credit score.

One of my AMEX cards is a Platinum – guess I’ll never be able to know what the limits are going forward. My other AMEX had a 20K limit that got reduced to the 15,500 – a few dollars over the balance. Should I not pay it down for fear of them reducing my credit balance?

These stories are really disturbing. I must say that I have not yet experience what you guys have experienced. But I guess my day is comming. Amex, did, however, raise the APR on my Blue card from 7.49 to 11.49 starting last month. Ironically, that increase does not really affect me because I have never ever paid finance charge. Why? Because when I make a purchase as soon as I get access to a computer, I go on line and make an electronic payment the same day. Perhaps Amex are reducing you guys limit because they are not making a dime from people like me. They are in business to make a profit and since I have yet to pay finance charges, they are taking it out on you. Sorry.

Hi….. American express is killing businesses.. And the suppliers are killing the businesses…. There is no answer to this problem.. I had been an Amex user since 1992 rising from green card in college to Black Amex in 2004… Charging in excess of 1 million a year for various businesses. Our of no where they cut my cards down to nothing… And were demanding 50,000 payments in order to use them… I would pay and then they would lower limit…. They are now stuck with over $200,000 in credit card debit from me alone spread over 5 cards…. You can only be screwed so much and then you have to say why was I paying $5,000 a year just for the black card priviledge…… Amex and the other greedy banks need to tumble….. With more people getting laid off there is no answer to this problem….. All of my friends are losing their companies and houses and properties…. This is a sad time in America….. A struggling business owner…… I have real estate worth millions but no one will loan………. Life sucks…..

WOW!!! I am SOOO glad that I am not the ONLY one getting annoyed from AMEX either!!!! They sent me the same letter and I have ALWAYS made my payments early and the BEST thing is, I paid the card in full about six months ago and they still cancelled my card!!!

The BEST thing is I called them and asked them why they cancelled the card and the answer I got was….

*** “Because you have a high delinquency and late payments, err….I guess cause of that.” ***

I told her as far as my AMEX acct was concerned, I have NEVER been late!!! Amex is “WONDERFUL”!!!!

*** NOTICE: I saw on the news a few days ago, that AMEX is working on a buyout with another company. That MUST BE why they are trying to make MOST of their cc holders cancel!!! ***

RE: Tammie’s comment…As far as late payment holders are concerned, I doubt they’d do anything. AMEX bothers the ppl w/the good pym history and lets the late payment ppl get away with it.

I got the same e-mail dated 2-25-09. I got this AMEX card about one year ago with a limit of 2000.00. I have a zero balance due on this card and the limit is now 500.00. I have a 736 credit score and always pay this card in full at the end of the month. I say screw AMEX TAKE YOUR BUSINESS ELSE WHERE!!!
I’m one of the luckie ones after reading this blog – at least I’m not now over my limit and paying a high interest rate due to AMEX screwed up way of doing business. CANX my card today bye bye AMEX

just balcne transferred from capitalone a payment of 600 dollars and a few days/week later – I get the email

I just got a notice today in an e-mail that they slashed my credit limit by over 50%. No reason but they ‘claim’ they’ll send a letter with details.

Went from using 20 percent of the limit to 95%. Thanks AmEx.

I have been an American Express card holder since the year 2000 and I have worked extremely hard to build the credit that I had. I currently have three credit card accounts with American Express.

On my BLUE credit card between 10/17/08 and 11/18/08 statements my credit line was reduced from $48,000 to $40,000 (17%, within $750 of my balance). During the same time period they imposed a $1,700 credit limit on my ONE credit card which always had been unlimited. I had charged and paid each month more than $2,000 consistently for years on that card and now I had to scramble to move automatic payments, I had several charges declined after the limit was set and was left with egg on my face.

After calling customer service several times they said this was due to a credit review and there was nothing that could be done about it. On 4/2/09 I was notified that my BLUE credit line was reduced from $40,000 to $9,600 (76%, within $200 of my balance). After calling customer service and speaking with a manager they said this was due to a high debt/credit ratio and there was nothing that could be done about it. I have never made a late payment and I typically pay much higher than the minimum payment.

At a minimum this is horrible customer service and at a maximum they have severely impacted my credit rating by increasing my debt/credit ratio. My debt/credit ratio has not changed dramatically in over a year and my credit score is over 700, what they are doing is completely arbitrary. I would not be surprised if they lower my limit again in the near future as they are now creating a self-fulfilled prophecy by manipulating my credit.

From the research I have done there are hundreds if not thousands of customers being affected in the same way and I am looking for a class action lawsuit to join if this can not be resolved immediately. I am so unhappy that I want to immediately cancel all of my credit accounts with American Express, the only reason I have not is it will hurt my credit scores even more. Please help!

Happened to me today – cut my limit by 55%. Never missed a payment, nothing wrong with my credit.

This is an Amex card that was issued because I am a Costco member… I’m guessing the cut was because I frequent a local restaurant and I guess other customers are defaulting. Lovely.

They called me on Easter Sunday to tell me my credit limit (which had already been reduced it the fall of 2008 from 18,000 to 8750, was reduced again to 5500, and my balance is 5400. Thanks for maxing me out amex. NEVER late, high credit scores, yadda yadda.

Totally Unfair and unethical business practice. Been a customer with AMEX for 13 years and paying the total amount due every month on time every time and this is HOW THEY TREAT ME!!!

AMEX will have to pay for this kind of thing. I will make sure that going forward and once I have paid off the card – i will cancel the account and NEVER use their card anymore. I will also make sure that this kind of treatment will be known to all my relatives, friends, customers.

Sorry to say but I had a high opinion about AMEX till now. They will regret such decisions.

Is there any legal action which can be taken against AMEX. I wish I could sue the hell out of them. B**TARDS!!

I was a customer with AMEX since the mid-90’s. Always paid the card on time, usually more than the minimum, credit score near 800. Had a $30,000 credit limit slashed to $3,300 for no logical reason. I transferred the balance I had on the card (under $3,000) to another credit card and eagerly canceled both of my AMEX accounts. I hope American Express sinks faster than the Titanic (sorry if that’s insensitive but it’s how I feel). If that’s how they want to run their business (by impending their idiotic will on the American public), then that’s what they have coming to them. Close any accounts you have with them and go elsewhere!

Had our limit reduced from 11,000 to 8,500 with a 8,300 balance on April 29th. Statement created April 30th, Shows $1,759 available. Credit limit reduced to 6,900 on May 1st with a balance still at $8,300. Now we are roughly $1400 overlimit. We have never been late, never missed a payment in over 5 years. Gotta get rid of this crappy card ASAP. PLEASE SOMEONE FILE A CLASS ACTION!!!!!!!!!!!!

Same here.. I have never been late and i always paid 70 times more than minimum or full. My credit score over 750 and almost 5% balance on other credit cards.
They are rip off, they reduce your credit limit close to your balance so they can charge late fee, over limit fee and higher interest rate.
I paid them right away and will never use American Express again in my life and also will not accept at my business place.

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

Well count me in too ! Run 2 small size companies, The cards I use are corporate – Gold, Cash Rewards and Plum. Personal cards Optima Platinum, Platium Rewards for me and Gold Rewards for the lady of the house. Amex slowly lowered the Optima from $15,000 to 7800.00 where it stayed for about 10 months then suddenly it was chopped to 500.00. My business Gold card had the flexible spending feature on it and they suddenly cut it off and said it had to be paid in full to continue using the card. THey changed a payment date by one day on the card I am set up for auto pay so I was 1 hour late but still they said I missed the payment due date, the statement cycles 7 dyas later thatn the payment date. So I paid of the Balnces and thought that things would be stable. WRONG the cash rewards card was next I charged 2500.00 for some new equipment on it which was apporoved but before the day was out they emailed me and slashed the limit from 20,000.00 to 2800.00 just above what I had charged. I paid it off that same day and they still will not restore the credit line. I have charged over 1.5 milloin dollars on my rewards cards over the years but I am now a bad risk cause I bought something from a new vendor ? Folks we are forgetting the people that accept the American Express cards pay a premium discount rate to do so at least 2 or 3 points or mor ethatn the visa and Mastercard companies charge the retailer. AMEX is making money they just have a lot of overhead that needs cut back to maintin profitability. I guess I am going to use all my rewards up soon and take that trip to Maui and then toss the cards in the drawer using them now and agin just to keep them oepn, of course I will most likely be closed for lack of usage volume. It did impact my credit score and it was like a domino effect as other creditors called and ask what caused the high utilazation of credit. Well AMEX has placed a lot of good people in a bad spot when it comes to utilization ratio’s. I really felt good about my Platnimum and Plum cards but now I think they are more like Lead and sour grape cards !!!

I just found out two days ago that my credit limit was cut by 50% when I tried to use my card on a business trip. When I called AmEx the next morning I was told that Experian had provided a credit report with a poor rating, which is a lie considering that my credit score was almost 750. They claimed they can’t actually see the credit score and based their decision on the fact that I have two mortgages and two car loans-all of which are paid on time and no defaults. I’ve been very happy up until now and will NEVER use this card again. I have paid all my balances in full every month and generally pay in full days/weeks before the payments are due. I use this card for business and cannot risk not having credit available. They explained that they mailed me a notice stating the changes the same day they made the cut. Gee, thanks! When I talked to them again the next day after I found out my credit score they stated that they do not take into account my income, which is more than sufficient to pay my bills and that I could appeal the decision. I told them to stick it and that I was the customer and they were making money off of me and not my responsibility to justify my business. Today AmEx had the nerve to call and ask me to rate my experience with customer service yesterday. Boy, they picked the wrong person to ask. I talked with Discover and they stated that they would give at least 10 days notice before any changes in credit limit and that based on the info for my account, nothing was planned anytime soon. So much for the government regulations protecting the consumer! I hope more people find this blog and ditch their AmEx cards too.

How can we sue the airheads at american express who did this to us !!??

I had a $10,000 credit limit cut in 1/2 to $5,000 over night.

3 weeks later american express found it necessary to cut my credit limit AGAIN by another $1,000 , maxing out my credit with them.

I have a 750 credit score and have never been late paying them in 2 years. And I have never even reached $5,000 spending on my account at anytime

When I asked about the 2nd reduction the ($1,000) , they said “someone” at american express “reviewed” my account. That was the reason; someone reviewed my account.

I hope someone is suing them for this. These [expletive removed] are ruining our credit scores, and trying to get people to spend over the limit to charge all of the extra fees that come with it.

They can kiss my [expletive removed]

I have been a customer of AMEX since 2003. Never had any problems with the blue, or Gold card. Never late on payments even though they are telling me I have been when quite clearly, after making online payments twice maybe three times a month, they still say you were late. Not true. American Express then gave me a Platinum for the hefty fee of $ 375 a year for unlimited spending. For the last 2 years it has been fine until last week, I too received a letter telling me that I would now have a credit limit of $1500.00 until further notice. I kicked up so much stick with them and threatened to cancel the card and all other accounts with them and had no luck in getting this reversed. It is disgusting that they are doing this to so many people. AMEX is supposed to the be the CARD FOR THE AMERICAN POPULATION, well they have proved themselves very wrong. Just another scam artist like the rest taking your money and ruining your credit and business as they go along. I suggest you all contact their head office with a stern complaint, maybe if more us do this they will finally realise that the people they are hurting will go elsewhere!

I have an Amex Delta Platinum card. Limit was $32,000-owed about $20,000 when I got the letter lowering limit to $23,000. Sent in $11,000 payment & next month limit got lowered to $13,000-$1000 over the new balance. Husband has Blue card w/$30K limit, $0 balance-used only a few times a year. The letter from AMEX on that came yesterday…limit slashed to $500…due to “inability to pay debts & income too low for amount of credit used”. We have never been late on anything in over 20 years & my husband has a very high salary, cash in the bank, etc. I’m not sure they even checked our credit. I checked today (Experian, who AMEX uses) & our score was 901.?????

8/18/09 – still happening! Don’t open an AMX – there is no reason – they are a total hassle all the way around. I put down a 2,000 payment down and I was thanked by a huge reduction that put me down to just over what I owe – Just perfect for my credit score! I have great credit, have never been late, make more than enough money to meet my obligations. Just don’t deal with AMX – this could happen to anyone and there is nothing you can do about it. Little did I know there are pages and pages of google stories about this.

Am Ex cancelled my credit because we are going through a mortgage short sale and was delinquent on mortgage payments. Have been with Am Ex since 1985, never missed a payment regardless how much was outstanding. And to top that off I wasn’t notified until after I tried using the card.

I have 4 amex cards, including a corporate. Blue had a limit of 15,000 with zero balance. 2nd card, balance of 300-400 a month and paid off every month, did it for the points and the 3rd was to keep hotel gold status, plus the corp card i use for biz travel.
All cards were dropped to 2,000 credit limit and today, they reduced it to 1,000. I have a credit score of 769 and my total debt that I owe anyone is $2,900 with an income of 86,000K. How is it possible that my credit keeps diminishing. I canceled one card already and I about to leave AMEX for good. I really loved the perks of the GOLD card, but such practice turns me off. I’ll start using VISA from now on.
This kind of practice hurts the consumer, because my credit keeps diminishing!