Class Action Suit Here We Come

By: jaybirdy

Well, here I am another victim of American Express. I have been a cardholder in one form or another for over 30 years. Yesterday my Costco American Express card was cancelled. This was the only American Express Card I had left. I only got it because Costco was touting 3% back if I got the card. I have had it for over 2 years.

It has always been paid in full at the end of the month.

Their reasoning was that I had too many delinquent payments to other companies and didn't pay enough monthly on my balances. I only have 2 VISA accounts, have never been delinquent, always pay a substantial amount over the minimum and have over 800 credit rating.

Also, I did not like the paragraph in their letter that stated this may affect my credit rating and that if I had any late payments to them, they would refer the account to a collection agency. I would like to know how I would have a balance to refer anywhere when the card is cancelled.

I also called Costco to let them know they should disassociate themselves from American Express as they are sullying their reputation.

Anyone out there an attorney? I am ready for a class action suit.

I never write letters like this, but I am spitting nails as I am so mad.

Janice B
Ventura, CA