AMEX Deliberately destroys your credit and attacks your business

By: plumbshocked

I had 2 AMEX Blue accounts for 2 different businesses with credit lines of 55,000, and 13,000. I always paid the balance in full for the the 55,000 card. The card with 13,000 had a balance of $5,000 from a balance transfer offer with a very low interest rate and I paid the minimum, never late. Without warning, AMEX dropped the 50,000 limit to 11,000 (that month's purchases).

When I paid the 11,000, the limit was dropped to 1,000 (for a card with monthly purchases of 6,000 to 28,000 and used by 8 employees in purchasing). The other card was dropped to the balance. This hurt my company and disrupted my operations. When the going got tough, my "business partner", AMEX, ran and left. My charges on those cards over the last 8 years were $985,000 (all paid in full each month). As a responsible business owner, I need credit issuers that stand by me in hard times and base their decisions on my payment history, not some knee jerk corporate risk assessment. Since this happened, I have stopped taking AMEX in my operations. I only take VISA, MC and Discover.

I urge you to do the same. It is us small business owners who accept AMEX cards and pay the higher AMEX premium. I will remember this disloyalty forever.