American Express Liars - Credit Lines

By: CWD

I have seen a number of unhappy American Express Card holders and I would like to add my two cents.

Before I begin I would like this forum to know that the head of American Express, Kenneth Chenault received $27,327,318.00 in compensation for 2008. How did he obtain this compensation? On the backs of hard working Americans who pay their bills while AMEX plays Russian Roulette with our credit scores.

I have been a cardholder since 1978. Presently I have a Platinum account, an account that charges high fees. What do I get for my money, a greedy CEO with an Executive staff of liars. I had a credit line of $34,000 with a balance of $28,000. I pay my bills on time. My line waas lowered to $29,000 making it look like I was maxed out, lowering my credit score. I paid my account down to $19,000. Guess what they lowered my limit to $19,500, maxed out again, lowering my score, again. I forget to mention that I was told both times that when I got my balance down AMEX would re-raise my limit. I don't want to charge more, just get my limit back. The excuse given by AMEX Executive customer service? I had too much credit and a past due per Experian. I ran my Experian report, I have a total of three credit cards active, all paid on time and above my mim required payment. My total balance are around $29,000. For my income I owe very little. My Experian report, no late accounts. When I called AMEX they stated they don't have the full report only a condensed version. I told them I had no lates on my report, who's report were they looking at? These people are liars and incompetent. It's long time members like me who have kept this company going. I'm very tempted to tell them to stick my $19,000 balance, write a letter to the three reporting credit agencies and walk away because AMEX damaged my credit score.

I know this sounds somewhat drastic and foolish but I really can't stand these wortless liars. God help us if Mr. Chenault dosen't make his 27 plus million in 2009. If anyone files a class action lawsuit for lowering our credit scores please let me know.