Limit Cuts, is AMEX going Bust? - Gold Credit Card

By: Bendef80

I was lured into applying for an Amex Card on their reputation for being a world leader and for travel benefits.

In the year that I had the Gold Card I saw them reduce my credit limit twice, each of 50%, which represents a total of 75% reduction. No phone call, no Letter, no banner ad on their website nothing! I in fact called them to query "whats going on?" and was told that the limit reduction was applicable to everyone and pleaded with the Rep on the Phone that I was going on holiday in two weeks time, but he stood his ground and denied my requests.

Fair enough, I didn't use my card much, mostly on holiday, but maybe twice a month a would charge something to it, so as to ensure it had activity at least.

Last month I cancelled my Account with them, I got the settlement amount of $1000.00 and included in that was a $100.00 subscription fee for 2010, I had not scene this on the internet statement and had not gotten my statement yet from AMEX, so I happily paid the dues and cancelled the account. After discovering this on my statement, I called AMEX and was told that they do not refund or reimburse subscription fees and they will keep my Guarantee Cheque for three months before they return it to me.

I have in the interim Cancelled that Cheque, AMEX, you will not get another cent outta me - EVER!