Such B S!! - cutting my credit limit and increasing my interest rate

By: Cinzin

I've been screwed by AmEx too. I have been a loyal customer for well over 8 years. I have had late payments, but they were maybe a day late. But...I have NEVER missed one single payment. November 2008 I opened my bill to examine it, as we have been upgrading out home, and used this card for purchases for flooring, paint...etc.

I was informed that my credit limit of $25000.00 had been reduced. And my interest had been increased to almost 28%....yes, 27.98% folks! Unbelievable. I placed a call to Amex to find out why, and they told me that I had been late twice in the last 12 months, and that raises my interest rate. Again, I have never missed a payment, and I always pay well up and over the minimum each month. I have paid my account off in full in the past. Our tax dollars have bailed these credit card companies' asses out, and this is what we get? Screwed over? I have read several of the other complaints. Seems AmEx is due for an awakening. They need to take a step back and appreciate the loyal customers who pay their bill. Stop punishing those who send their checks in. There are a lot more people who have lost their jobs and homes or filed bankruptcy. The rest of us who have the comfort of employment would appreciate a little returned respect.....I will never use Amex again. I have canceled my card and will never look back.