AMEX abuses its loyal customers

By: iulianionescu

AMEX took an action in 2008-2009 by aggressively removing the credit limits for their customers. The move was done without notification and without any regard to the result of their action. More than that, the action was done on long time, stable and good customers, with good credit scores and a steady, healthy credit behavior.

People who had years of good payments and never late. AMEX’s action disregarded the fact that many people have automatic payments linked to their accounts, disregarded the fact that some people may have been on vacation and the fact that the credit scores are looking at the usage ration of the card. By slashing the limit close to the current balance AMEX directly affected the credit scores of the customers and potentially damaged their reputation in the eyes of the other financial institution. And all without prior notice! This shows an utter and complete disrespect towards the loyal customers and proves that AMEX is nothing but a corporate money hungry machine that doesn’t care about the fact that their business is in fact represented by the people who use their card. Given this fact, we will all boycott the American Express Company by no longer using their card and no longer accepting their card at our businesses.

I was one of these loyal good customers, but their behavior made me really sick to my stomach. They are acting just like a cowardly criminal sneaking upon you in a dark alley and hitting you from behind.

In order to so something about it I started a cause on Facebook called "Boycott American Express". Feel free to join and spread the word:

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