American Express – Fuck You!

Thursday, February 12, 2009 11:40
Posted in category Corporate

Back in September when American Express went ape nuts with the rest of the economy I had a 2.5k limit card from my college days that had a 0 balance on it. My personal limit was lowered to $500 from 2.5k but I didn’t really care because it was a dead/emergency card. Who cares right?

Well yesterday I decided that amex points suck ass and that I would rather have a starwood card instead of my gold card. So I can get hotel points.  For refrence 1,000 amex points is equal to 333 star wood points. So $1k for 333 points. If I had a starwood card $1k equals 1k points! Way better.

So I fill out their online application and the tell me I was declined because a card had its limit lowered. I ran into this before when I tried to get a new card for a new company but shit its been months since then. Rather pissed off at this point because after that card was lowered I called them and canceled it. What’s the use of an emergency card that only has $500 on it.. Anyway I really wanted a starwood because I want to go to paris next month. So I call them up and ask what’s going on today. My gold card is in perfect standing and is paid off 3-4 times a month since it has a low limit. There should be no problem right?

Turns out that once you have a card limit lowered with amex you can not be approved for a new card for a YEAR. Thats right. No matter what your standing is with them nor your credit score they will not issue you a line of credit for any amount for a year after you have a card limit lowered by any amount. It could be dropped by $50 and your fucked for the year. 

I have yet to talk to a single person who has NOT had their limit lowered this year. The credit crunch fucked over everyone I knows credit limit with american express. I wonder if they know that they can’t get a new card for a year. We have all just been ass fucked by american express and their system. Enjoy. oh yeah fuck you american express.

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14 Responses to “American Express – Fuck You!”

  1. Tangy says:

    February 12th, 2009 at 6:25 pm

    I’d prefer if you told us how you really felt about American Express.

  2. spyderman4g63 says:

    February 12th, 2009 at 10:59 pm

    I actually was able to get mine raised from 5,000 to 30,000 during all of this. I think they ended up lowering it to 28K.

  3. Bryn Youngblut says:

    February 14th, 2009 at 4:50 pm

    That sucks dude, one way around this could be to get a secured credit card by using a bond or GIC or something to secure the card. For instance a 10k gic could get you a 10k credit limit. The only problem is you can’t touch that money for over a year or until they decide you’re OK to give unsecured credit too. Just a thought.

  4. BeerNuts says:

    February 15th, 2009 at 12:19 am

    Well I still have my gold card and a decent limit on that so I am not freaking out or anything. I just wanted the other card since I wanted to get starwood points now.

    I just wonder if amex knows how much they fucked over their business since 98% of people I know had a limit reduced by some amount recently. No new cards for anyone.

  5. Ad Hustler says:

    February 15th, 2009 at 4:37 pm

    I have high credit limits and have not had the limit decreased on any of my cards/accounts.

    I wonder if the decreases have anything to do with the income you declare?

  6. Michael Grabowski says:

    February 15th, 2009 at 11:37 pm

    I’m thinking Hustler might have a point there. Did you change your structure recently (how much you pay yourself out of the firm: salary vs. dividend income)? is the card in your name of your company’s name?

    anyway, i’m sure you’ll find a solution. In case you don’t; CJ has a VISA black offer I could give you an aff link for = )

  7. says:

    February 17th, 2009 at 3:23 pm

    i need to leave another comment so i can get on that top commentors list playyyyyya

  8. BeckyMarie says:

    February 17th, 2009 at 9:05 pm

    My AMX limit was lowered for me too : ( BOOOOO

  9. Eric says:

    April 2nd, 2009 at 4:50 pm

    I have been an American Express card holder since the year 2000 and I have worked extremely hard to build the credit that I had. I currently have three credit card accounts with American Express.

    On my BLUE credit card between 10/17/08 and 11/18/08 statements my credit line was reduced from $48,000 to $40,000 (17%, within $750 of my balance). During the same time period they imposed a $1,700 credit limit on my ONE credit card which always had been unlimited. I had charged and paid each month more than $2,000 consistently for years on that card and now I had to scramble to move automatic payments, I had several charges declined after the limit was set and was left with egg on my face.

    After calling customer service several times they said this was due to a credit review and there was nothing that could be done about it. On 4/2/09 I was notified that my BLUE credit line was reduced from $40,000 to $9,600 (76%, within $200 of my balance). After calling customer service and speaking with a manager they said this was due to a high debt/credit ratio and there was nothing that could be done about it. I have never made a late payment and I typically pay much higher than the minimum payment.

    At a minimum this is horrible customer service and at a maximum they have severely impacted my credit rating by increasing my debt/credit ratio. My debt/credit ratio has not changed dramatically in over a year and my credit score is over 700, what they are doing is completely arbitrary. I would not be surprised if they lower my limit again in the near future as they are now creating a self-fulfilled prophecy by manipulating my credit.

    From the research I have done there are hundreds if not thousands of customers being affected in the same way and I am looking for a class action lawsuit to join if this can not be resolved immediately. I am so unhappy that I want to immediately cancel all of my credit accounts with American Express, the only reason I have not is it will hurt my credit scores even more. Please help!

  10. riversider says:

    April 29th, 2009 at 3:14 pm

    Double fuck American Express! My company had a line of credit since 1993. We charge about $150,000 a month and ALWAYS pay it off. We have never made a late payment in the history of having our card. American Express just cut our line of credit on the card from $315,000 to $20,000! We use the damn card for convenience and cash flow. But fuck ‘em. We don’t need ‘em. But how many businesses have they crippled or forced to close with these policies? But a bigger question? If they throw us out, with our purchase and payment record, how will they make any money? American Express can kiss my ENTIRE ass!

  11. Die AMEX says:

    April 30th, 2009 at 7:55 pm

    So I have an AMex with a 20K limit and one with a 60K limit. Both in perfect standing for about 12 years. The one with 20K has a balance of about 12K on it. One day that ones limit gets put right at 12K, making it look like its maxed out. So I make a 5K payment. Guess what they do? They lower it again so its maxed out. So I pay off that card, cancel it and guess what. They are now doing the exact same thing on my other one. Then someone one the phone tells me, well you keep are our cards at maximun use so thats why we are lowering your credit. NO, your a liar, you work for a company thats lies and oh yeah. FUCK YOU AMERICAN EXPREES. 2 words, Sell Short.

  12. Credit is a Scam | Beer Monies - Making Money Online To Pay Bar Tabs Since 08' says:

    May 1st, 2009 at 12:01 pm

    [...] That same year I worked full time and started with affiliate marketing. I did rather well for my self and I paid off all of my credit cards, and half of my student loans. I had just had enough with all the bullshit and wanted to be free of credit cards all together. After I paid off each card I called and canceled them. I did this to 8 credit cards that were my life line for books and tuition in college. I kept 2 $0 balance cards as ‘emergency’ one was at my old bank, the other my American Express. [...]

  13. Ex Amex Employee says:

    June 7th, 2009 at 1:00 am

    Well, I can only say that since Ken took over as the main man, this company has gone to hell quickly. I was employed with Amex for 14 years in their technologies departments. When I first got hired, Amex was a great place to work. They cared about their employees, viewed them as an asset, and loved their reputation of higher customer service. They valued their customers and went out of their way to do the right thing.

    Enter the new CEO, Ken C. The second he took over, you could feel the change. He viewed employees as liabilities and did everything he could to fire them and replace them with low priced consultants from the middle east. The only thing they cared about was how Wall St. valued them and for the last 6 years or so, this policy has guided Ken C’s ridiculous decision making. They have done nothing but screwed their employees and their card holders. Regardless of how long you’ve had their card… they could care less. The second you started making minimum payments or started shopping at thrift type stores, they have shut you down to save face with shareholders and Wall St. analysts. They have continued to scale back every single employee benefit, except for their own fat bonuses, in the name of a slow economy. Even when they made over 6 billion dollars in 2008, they have laid off over 11,000 people. I would so love to see cardholders revolt, close their accounts, and tell them to shove it…

  14. Johnny Walker says:

    August 31st, 2009 at 9:42 am

    The mofos known as AMEX cancelled my Gold Rewards Plus card without warning today! I just happened to check my account online and there it was in red letters: “Your Account Has Been Canceled”. F*c* this POS company! I could have gone to a business luncheon or to a store to buy something and been put in an embarrassing situation since AMEX didn’t bother to tell me jack sh*t! I was a member since 2004, had one payment late in 2006 but that was it. AMEX sucks ass, and I am more than happy to know that they are going down the tubes fast. F*c* you very much AMEX!

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