By: foolsgold
My husband and I are in a large lawsuit with a company over a fradulent loan and it is effecting our credit score. American Express dropped the balance on my card twice, eventually making it 1/8 of what it was. I could understand their thoughts though I did call them to explain what was going on. Last week they cancelled the card.
Every month I paid off the card completely and on time, since the day I've had the card. They said my explanation didn't matter, they base it solely on the credit score even though I've been a great customer, and I am not eligible for reconsideration. Amex is good if you have a good credit score, but if anything in your life ever goes bad and you actually NEED a credit card for emergencies.. don't make it this one because they will drop you and not think twice about it.
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