By: FedUpwithAMEX
I have had an AMEX Delta Skymiles card for several years now. Up until recently, they constantly increased my credit limits because of my good credit and STERLING payment record. My limit was $30,000, but I never charged anywhere near that.
In the past six months, they have notified me at least 4 times, most recently today, that they are lowering my credit limit, always to about $100.00 more than I owe.
I pay it down, they lower it again. Finally I just sent them a big wad of money. They left me alone for awhile - then - Voila! I go on a trip, charge the $400.00 hotel bill to AMEX and I get the call the moment I get home that they are lowing my limit another $10,000 (!!!!!) to $200.00 above what I currently owe. There is NO reason for this. I think this is absolutely criminal. I pulled up my credit report and see that they (Amex)haven't reported my history for almost ONE YEAR. However, my score is still above 750.
I know people who would kill for that kind of credit rating. I HATE AMEX!!!!!!!
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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.
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