American Express is not user friendly

By: Buffalo99

I had a 30,000 credit limit that I used for business and personal. I have a 765 credit score with no lates, repos, or anything else negative. I had an interest rate of 6.5 per cent. Four months ago they raise that to 10.5 and lowered my limit to my balance before I was going on a trip. I use this card for my traveling.

This cut my legs out from under me. I had to scrabble to get another card. Now I just got a notice that they were now going to raise my interest again to 15.5 per cent. 9 per cent raise in 6 months. After being with them for 20+ years I decided I wasn't go to put up with this and decided to cancel the card, figuring that it would freeze the interest rate...they said nothing with stop the increase. It was across the board and affects everyone....what a bunch of loan sharks....I am still going to cancel and transfer the balance....anyone know if they can raise interest on a close acount...would not seem legal to me......