I have been with American Express since never missed a payment. Suddenly, about a week ago, my Am Ex credit card was declined on couple of ocassions. I didn't think much of it and used other credit cards instead.
Today I received a letter from Am Ex, it seems that without any warning or prior notice, they decided to lower my credit line fro $25,000 to $500. It so happaned that at a time I had a balance of $470, I'm sure a pure coincident.
Luckily at the time I was not away on busines and I didn't have to rely on Am Ex to pay for a hotel, meals etc.
I used to admire Am Ex and think highly of them. Even though their action didn't affect me; however, I realized that I don't want to in any way be dependant on them. I called Am Ex and cancelled my account. I will never again do any business with AmEx.
0 comments