I have been an American Express customer for many many years and have never missed or been late on a payment. I had a platinum Delta Skymiles card, A platinum business card, platinum personal card and a business Plum card. Never an issue then suddenly i get the old 4506t form. Ok i understand this is good business. But they do this in the middle of the holiday season for my company. Froze all accounts so now they interrupted cash flow. No problem all payments still made easily. They delay and delay the entire ordeal until finally they demand payment in full. I told them I was not willing to pay them in full since they were playing games. Expand your business with the PLUM is what i was told then they pull the plug on a great customer. They offer a payment plan of $4k a month so i said fine. The next day they call and say my financials were great and income warrants all my cards being turned back on in full force. But oh wait we cant do it because you went on the payment plan. Again if I pay all balances in full they will turn on. I feel this is a scam since they couldnt tell me this the day before when I WOULD NOT have had to pay in full. Now even after never missing one of the payments they put me on they put this on my personal credit report as severely past due bad debt sent to legal. Are you kidding so i call and they say since I was never informed this would happen if i didnt pay it by a certain date they would take it all off with a written letter from myself and I should just pay in full. The next day I paid in full then sent the letter to Amex at the address provided. The account showed a zero balance and then they charged it off. How is that possible to charge off a zero balance since it was all paid. This has caused a trickle effect with all my credit cards. They started lowering credit limits due to this false report from Amex. Which of course brought my balances close to the limits and further hurt my FICO. I assume the damage is done and I was told they would never give me an amex again lol. I never did anything wrong. I own 900 retail outlets and Jan 1 issued a Ban for amex to be accepted at any retail location. It is sad they run the company this way. I know people that have been unemployed for years and still have an active Amex with very hefty limits. They deserve whatever happens to them.
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