Debt Reduction - Class action suit?

By: knotty

Previous posts mentioned a possible class action suit against American Express credit cards because of unjustified credit line reduction. I am very interested if doing this if at all possible.

I have been with AMEX since 1994, they kept increasing my credit line until it was about $25,000. I paid at least 10% every month, was never late, was only using about 70% of my credit limit, and still they reduced by creidt limit without notice.

I left for a trip to France, two days later they sent me a letter (and email) announcing the 25%credit reduction, but I did not get home for two weeks so did not know about this. I always use my AMEX in Europe so by the end of the trip I had a hotel transaction refused by AMEX (luckily I carry many other credit cards) and now AMEX has reported me to the credit bureaus for being over the limit of my credit line. The minute I got home I paid off most of the card so tthe limit is not an issue now but I am incensed about the impact on my credit scrose which is normally in the mid to high 800's. Of course customer service is totally non-responsive.

Let me know if you about about a class action suit against AMEX. Lyn