American Express Buying Out Cardholders

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I was an American Express card member for 19 years, and a couple of years ago, I was laid off from work. I paid off the entire balance on my Optima and my AMEX Gold. As soon as I did this, they cancelled my account. Obviously, they were OK with me carrying a large balance, but as soon as I got it down to zero, they cancelled my cards, without notifying me. They didn't seem to care when I complained about it, saying that when I get back on my feet, I could reopen the account. I asked them to permanently remove me from any future offers, that I wouldn't be reopening my account, and that I did not want to receive any written or verbal communication from their company again. I don't think they care, but I do.

W T of CA 6:12PM April 20, 2012

I had been a loyal Amex customer for nearly 25 years with no incidents; paying off my bill every month. I actually carried no cash and simply used only the card. I had some situation with real estate escrow which was sent to credit reporting agencies. The situation was a mistake and quickly resolved. However, Amex instantly cancelled my account and did not even attempt to notify me; I was merely rejected by a merchant while trying to use the card. At that moment I owed a whole $250 that was not due for approximately 2 weeks. Amex said they have a right to cancel my credit whenever they find it necessary. One would think that a 25 year relationship would not be instantly destroyed but that is my story.

Harlan R. Siegel of OH 1:03PM February 24, 2010

I own a business and use the amex card for over 2 years now, paying it off every month. I get an email saying it was canceled. R u kidding me!!! They canceled my card because I attempted to make a purchase at my own business!! This is absolutely ridiculous. They couldn't reinstate it because it was just "a computer" that decides if should be reinstated or not. Now, thanks to AMEX, my credit is ruined and i have to reapply for another friggin card. I don't think so, AMEX lost my business and I have decided to NO LONGER accept AMEX at my business either!

Alison of FL 11:27AM February 11, 2010

Another unhappy AMEX user here. Just got my Gold card 2 weeks ago and guess what. Tried to pay for a repair bill costing $2700 and they suspended my account. When i called them, the 1st guy said, oh, you've incurred 300 dollars in the first week and you should pay it off first before we could unsuspend the account. I was like "What?". That isn't until end of December and it's only 22Dec. I got cut off due to bad reception and when i called back, this lady said that it was essentially my fault that the card got suspended. I applied for more credit cards after my AMEX card got approved. Firstly, my other credit cards got approved (Target & Gap for god's sake). Secondly, i never had any issues using the card prior to that payment! Why should this be any different? Of course, the car repair bill would trounce any normal restaurant bill. Doesn't this make sense? No, in fact they told me that i had to pay $25 to unsuspend the account. I was livid. I was being penalised to use the card. The girl got her manager, Marvin to speak to me and offered me a asinine solution "Pay us $1500 by wire transfer and i'd speak to my boss to have you unsuspended." I was taken aback. If i could make my way to a bank to transfer the money, i would not need to call AMEX to resolve my issue. I would simply withdraw the money needed for payment and be done with it. In the end, i used my trusty Citibank debit card to pay off the sum of 2700, peanuts compared to what i spend on any of my other credit cards monthly. AMEX is without a doubt, the worst financial institution ever. My contention is that if i was deemed a poor payee or had poor credit history, then why in the world did they issue me a Gold Card? Poor planning, poor customer service and an extremely poor decision engine. In a way, it's good that they did this. Otherwise, we wouldn't have bottom dwellers. Keep it up AMEX.

sacraligious of CA 3:23AM December 23, 2009

I too have been a loyal customer, never delinquent, EVER! my limit was 23k with a balance of 9, then my card got declined at costco. i called and was informed on the phone that they lowered my limit to below 9 k. i paid off my card and they immediately closed the account! i was so mad, i cancelled my other american express card and they said they made a mistake in cancelling my other card, i told them they gave me a hard time when i tried to dispute the reason for cancelling the first card
i signed up for membership at sam's club bec they are not limited to amex
i will not give my business to american express .

g of CA 2:38AM December 23, 2009

Though I have carried a balance over for the past year, I have consistently paid much more than the minimum and just paid a large amount thanks to an IRS refund.
It is only the blue card that I have, but I have been dreaming of what I could get after redeeming the points I'd racked up. This part of the whole scenario seems quite unfair.
I will never apply for an AM EX card again. I was neither delinquent nor past my limit with this company. I can not in good faith wish them well in this economy. They reaped the rewards when my balance carried over all of those months. Theirs is a truly unfair practice and I will make sure I let everyone know this.

Cindy of IL 6:23PM April 06, 2009

I loved this Card ,used it all over the world. Got $10,000 emergency cash in Asia just by asking and a signiture, Charged a $25,000 item in TX store no questions asked just sign. Racked up 350,000 Membership points . Because I paid my bill in full every month. Last year I stoped traveling as much slowed down on spending. Smart wise and practical not in the eyes of AMEX.
Because I lowered my spending they decided to not approve anything over $1000 on my Platinum card. Hour on the phone credit service people can't even understand problem Told that bill is paid in full each month ,doesn't count ,30 years a good customer NO help .They only look at last 6 months spending. So I get treated like dirt . Every time I try to use card ...declined no reason , asked to pay this months balance early less than $1800 and then "we will let you charge something". Even declined reg.montly billing for a storage unit. BUT YOU WANT ME TO PAY $450 for this. American Express you are crazy I hope you lose millions of good customers like me .This is how you treat your good customers. You will never recover loss of good will.

Robert Landshof of TN 2:13AM April 01, 2009

I know times are bad right now, but please don’t start treating your loyal customers like crap. I’m very dissatisfied with the customer service that I recently received while calling into a call center. The representative was very rude as she proceeded to tell me that she was cancelling my sign and travel after she checked my credit report. My credit report hasn’t changed that was just a way for her to justify her poor decision since your company is falling apart. I know that the economy sucks and your company stock has fallen 70% since September, but that’s not my fault. It’s funny how your company used to care about their customers but now that times are rough your customer service really stinks. I guess your company’s new policy is to harass their customers so that they will cancel their American Express cards. In my opinion that’s discrimination I actually work in media and I’m going to report you guys to CNN so that they can do an investigative report. In all of my years with American Express I’ve never experienced such poor customer service. Your company threatened to cancel my sign and travel which is a feature that your company offered me. Now that your stock is down and the economy is in the dumps you want to force me to cancel my card. We the customers have rights too and were fighting back. I’ve spent thousands of dollars with your company and now you want to threaten me because of your lack of planning and budgeting. Now that you suddenly want to cut administrative costs it’s up to your loyal customers to find other credit. I can’t really say how I really feel about your company it’s really inappropriate, and it’s not positive. Your company should have been able to come up with a better solution or plan because right now your company looks stupid and unprepared

Dee Dee of CA 5:13PM March 23, 2009

I am also very unhappy with American Express.I received an e-mail that implied I needed "their" help managing my account in this economy. I have been a member for 19 years and have paid my bill on the due date. I have called customer service and discussed this e-mail. Not only was this communication insulting, but also a form of customer profiling. Perhaps it is time to "Rethink" my relationship with this company.

Jane McKechnie of CT 4:56PM March 19, 2009

I am in the same boat as a previous comment. I have paid my card every month, never late. I have great credit with one exception that is being contested (divorce) and yet they dropped me due to "credit delinquencies". They were incredibly rude about it too, telling me that they had to reserve their business for "mature and accountable members"... unbelievable! I also think it is really convenient that they canceled my card on 1/31 and my Costco rebate was due to go out on 2/1 - BUT because my card was not in good standing in the month of the rebate then I forfeit my rebate of over $200.00. Just incredible. I will never support AMEX again!

Robin of WA 5:26PM March 01, 2009