By: Valrus
We have been a customer of Amex since 2005. It seems reading through comments, the story is all to common. We are a small business owner and carry a personal and business Amex card. We started getting our credit limit lower back in 2008 on business card, then 2/2009 the personal was lowered from $6500 to $5400.
What took the cake was 4/2009 the lowering from $5400 to $4100. I was irate! The customer service with this company is down right ridiculous, a joke to say the least. Last week a CSR advised that no where could she find a reason why this happened and that it would be reviewed by CSR supervisor, they would get back within 3 days. Never heard back from Amex. I called 5/11/2009 and was on hold, pass to numerous departments of Amex. All departments agreed this shouldn't have happened. I was told that they don't see the credit limit was ever lower on either account, that it was always the lowered amount.
Again the CSR would get with (this time) a manager, then get back with me in 3 days. The next day I received my statement showing my personal limit at $5400. Now I have always been advised that the decisions to make changes on accounts occur before a new statement cuts. I called back on 5/12/2009 to hear my account was reviewed and the reason for the lowered credit limit was due to high balances on other credit cards, etc. How all of a sudden was the reason available? My credit is good and all my accounts are paid on time and paid beyond the minimum due. Amex is our enemy and in this economy who needs them lowering credit scores across the board for consumers and small business owners.
Something needs to be done to put this to an end! Isn't it Ellen who does commercials for Amex? Maybe she would be interested to know how Amex treats their paying customers?
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American Express just levied my account from a debt from my marriage 3 years ago. I'm self employed and live alone and they took every cent I have. When I called and asked if I could have the money to cover my rent check and something to live on, because I don't know when my next client will come, they said, "you should have thought of that before you stopped paying your bills." When I racked up the debt I was making over $100k/year then the recession hit and I lost my job. I now make less than $20,000 a year. I pulled all my 401k out to live on and that's what they took - $10,000 - all the money I had in the world. I have $4 in my wallet and half a tank of gas and they told me, "too bad, you should pay your bills." American Express cares more about profits and rich shareholders than real people. I will NEVER ever give them another cent.
ReplyDeleteIs this legal? Leaving me penniless?